[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR902.63]



[Page 277-278]

 

                 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



[[Page 278]]



be scored individually, and the scores 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 Sec. Sec.  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.