[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR902.63]

[Page 271-272]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 902--PUBLIC HOUSING ASSESSMENT SYSTEM--Table of Contents
 
                         Subpart F--PHAS Scoring
 
Sec. 902.63  PHAS scoring.

    (a) Computing the PHAS score. Each of the four PHAS indicators in 
this part will be scored individually, and then will be used to 
determine an overall score for the PHA. Components within each of the 
four PHAS indicators will be scored individually, and the scores

[[Page 272]]

for the components will be used to determine a single score for each of 
the PHAS indicators.
    (b) Adjustments to the PHAS score. (1) Adjustments to the score may 
be made after a PHA's audit report for the year being assessed is 
transmitted to HUD. If significant differences (as defined in GAAP 
guidance materials provided to PHAs) are noted between unaudited and 
audited results, a PHA's PHAS score will be adjusted (e.g., reduction in 
points) in accordance with the audited results.
    (2) A PHA's PHAS score under individual indicators, sub-indicators 
or components, or its overall PHAS score, may be changed by HUD in 
accordance with data included in the independent audit report, or 
obtained through such sources as HUD on-site review, investigations by 
HUD's Office of Fair Housing and Equal Opportunity, or reinspection by 
REAC, as applicable.
    (c) Issuance of score by HUD. An overall PHAS score will be issued 
by REAC for each PHA after the later of one month after the submission 
due date for financial data and certifications, or one month after 
submission by the PHA of its financial data and certifications. The 
overall PHAS score becomes the PHA's final PHAS score after any 
adjustments requested by the PHA and determined necessary under the 
processes provided in Secs. 902.25(c), 902.35(a)(3) and/or 902.68; any 
adjustments requested by the PHA and determined necessary under the 
appeal process provided in Sec. 902.69; and/or any adjustments 
determined necessary as a result of the independent public accountant 
(IPA) audit, as provided in paragraph (b) of this section.
    (d) Review of audit. For a PHA whose audit has been found deficient 
as a result of a quality control review of the IPA workpapers, a quality 
control review that is conducted by REAC as part of REAC's on-going 
quality assurance process, REAC may, at its discretion, select the audit 
firm that will perform the audit of the PHA and may serve as the audit 
committee for the audit in question. This review is important to 
determine the accuracy of the scoring under the Financial Condition 
Indicator.
    (e) Posting and publication of PHAS scores. Each PHA (or RMC as the 
case may be) shall post a notice of its final PHAS score and status in 
appropriate conspicuous and accessible locations in its offices within 
two weeks of receipt of its final score and status. In addition, HUD 
will publish every PHA's score and status in the Federal Register and on 
HUD's internet site.