[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR990.101]

[Page 702-703]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 990_THE PUBLIC HOUSING OPERATING FUND PROGRAM--Table of Contents
 
                  Subpart A_The Operating Fund Formula
 
Sec. 990.101  Purpose.




                  Subpart A_The Operating Fund Formula

Sec.
990.101 Purpose.
990.102 Definitions.
990.103 Applicability of the Operating Fund Formula.
990.104 Determination of amount of operating subsidy under the Operating 
          Fund Formula.
990.105 Computation of allowable expense level.
990.106 Transition funding for excessively high-cost PHAs.
990.107 Computation of utilities expense level.
990.108 Other costs.
990.109 Projected operating income level.
990.110 Adjustments.
990.111 Submission and approval of operating subsidy calculations and 
          budgets.
990.112 Payments procedure for operating subsidy under the Operating 
          Fund Formula.
990.113 Payments of operating subsidy conditioned upon reexamination of 
          income of families in occupancy.
990.114 Phase-down of subsidy for units approved for demolition.
990.116 Increases in dwelling rental income.
990.117 Determining actual and requested budget year occupancy 
          percentages.
990.120 Audits.
990.121 Effect of recission.

    Subpart B_Financial Management Systems, Monitoring and Reporting

990.201 Purpose--General policy on financial management, monitoring and 
          reporting.
990.202 Applicability.

                   Subpart C_Project-Based Accounting

990.301 Applicability.
990.305 Definitions.
990.310 Project-based accounting.
990.315 Records and reports.
990.320 Certifications.
990.325 Compliance dates.

      Subpart D_Resident Management Corporations Operating Subsidy

990.401 Calculation of operating subsidy.
990.402 Calculation of total income and preparation of operating budget.
990.403 Adjustments to total income.
990.404 Retention of excess revenues.
990.405 Use of retained revenues.


[[Page 703]]


    Authority: 42 U.S.C. 1437g and 3535(d).

    Source: 41 FR 55676, Dec. 21, 1976, unless otherwise noted. 
Redesignated at 49 FR 6714, Feb. 23, 1984.

    Note: It is hereby certified that the economic and inflationary 
impacts of this regulation have been carefully evaluated in accordance 
with OMB Circular A-107.


    Source: 66 FR 17287, Mar. 29, 2001, unless otherwise noted.


    This subpart implements section 9(f) of the United States Housing 
Act of 1937 (42 U.S.C. 1437g) (referred to as ``the 1937 Act''). Section 
9(f) establishes an Operating Fund for the purposes of making assistance 
available to public housing agencies (PHAs) for the operation and 
management of public housing. The assistance made available from the 
Operating Fund is determined using a formula developed through 
negotiated rulemaking procedures. This subpart describes the policies 
and procedures for operating subsidy calculations under the Operating 
Fund Formula.