[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: 24CFR990.100]



[Page 707-708]

 

                 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_Purpose, Applicability, Formula, and Definitions

 

Sec.  990.100  Purpose.









       Subpart A_Purpose, Applicability, Formula, and Definitions



Sec.

990.100 Purpose.

990.105 Applicability.

990.110 Operating fund formula.

990.115 Definitions.

990.116 Environmental review requirements.



  Subpart B_Eligibility for Operating Subsidy; Computation of Eligible 

                               Unit Months



990.120 Unit months.

990.125 Eligible units.

990.130 Ineligible units.

990.135 Eligible unit months (EUMs).

990.140 Occupied dwelling units.

990.145 Dwelling units with approved vacancies.

990.150 Limited vacancies.

990.155 Addition and deletion of units.



                 Subpart C_Calculating Formula Expenses



990.160 Overview of calculating formula expenses.

990.165 Computation of project expense level (PEL).

990.170 Computation of utilities expense level (UEL): Overview.

990.175 Utilities expense level: Computation of the current consumption 

          level.

990.180 Utilities expense level: Computation of the rolling base 

          consumption level.

990.185 Utilities expense level: Incentives for energy conservation/rate 

          reduction.

990.190 Other formula expenses (add-ons).



                  Subpart D_Calculating Formula Income



990.195 Calculation of formula income.



        Subpart E_Determination and Payment of Operating Subsidy



990.200 Determination of formula amount.

990.205 Fungibility of operating subsidy between projects.

990.210 Payment of operating subsidy.

990.215 Payments of operating subsidy conditioned upon reexamination of 

          income of families in occupancy.



           Subpart F_Transition Policy and Transition Funding



990.220 Purpose.

990.225 Transition determination.



[[Page 708]]



990.230 PHAs that will experience a subsidy reduction.

990.235 PHAs that will experience a subsidy increase.



                            Subpart G_Appeals



990.240 General.

990.245 Types of appeals.

990.250 Requirements for certain appeals.



                       Subpart H_Asset Management



990.255 Overview.

990.260 Applicability.

990.265 Identification of projects.

990.270 Asset management.

990.275 Project-based management (PBM).

990.280 Project-based budgeting and accounting.

990.285 Records and reports.

990.290 Compliance with asset management requirements.



     Subpart I_Operating Subsidy for Properties Managed by Resident 

                     Management Corporations (RMCs)



990.295 Resident Management Corporation operating subsidy.

990.300 Preparation of operating budget.

990.305 Retention of excess revenues.



    Subpart J_Financial Management Systems, Monitoring, and Reporting



990.310 Purpose--General policy on financial management, monitoring, and 

          reporting.

990.315 Submission and approval of operating budgets.

990.320 Audits.

990.325 Record retention requirements.



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



    Source: 70 FR 54997, Sept. 19, 2005, unless otherwise noted.







    This part implements section 9(f) of the United States Housing Act 

of 1937 (1937 Act), (42 U.S.C. 1437g). 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. In the case of unsubsidized housing, the total expenses of 

operating rental housing should be covered by the operating income, 

which primarily consists of rental income and, to some degree, 

investment and non-rental income. In the case of public housing, the 

Operating Fund provides operating subsidy to assist PHAs to serve low, 

very low, and extremely low-income families. This part describes the 

policies and procedures for Operating Fund formula calculations and 

management under the Operating Fund Program.