[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: 24CFR982.155]



[Page 584]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 982_SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM

--Table of Contents

 

   Subpart D_Annual Contributions Contract and PHA Administration of 

                                 Program

 

Sec.  982.155  Administrative fee reserve.



    (a) The PHA must maintain an administrative fee reserve (formerly 

``operating reserve'') for the program. There is a single administrative 

fee reserve for the PHA program. The PHA must credit to the 

administrative fee reserve the total of:

    (1) The amount by which program administrative fees paid by HUD for 

a PHA fiscal year exceed the PHA program administrative expenses for the 

fiscal year; plus

    (2) Interest earned on the administrative fee reserve.

    (b)(1) The PHA must use funds in the administrative fee reserve to 

pay program administrative expenses in excess of administrative fees 

paid by HUD for a PHA fiscal year. If funds in the administrative fee 

reserve are not needed to cover PHA administrative expenses (to the end 

of the last expiring funding increment under the consolidated ACC), the 

PHA may use these funds for other housing purposes permitted by State 

and local law. However, HUD may prohibit use of the funds for certain 

purposes.

    (2) The PHA Board of Commissioners or other authorized officials 

must establish the maximum amount that may be charged against the 

administrative fee reserve without specific approval.

    (3) If the PHA has not adequately administered any Section 8 

program, HUD may prohibit use of funds in the administrative fee 

reserve, and may direct the PHA to use funds in the reserve to improve 

administration of the program or to reimburse ineligible expenses.



(Approved by the Office of Management and Budget under control number 

2577-0169)



[60 FR 34695, July 3, 1995, as amended at 60 FR 45661, Sept. 1, 1995; 64 

FR 26642, May 14, 1999]