[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: 24CFR990.200]



[Page 719]

 

                 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 E_Determination and Payment of Operating Subsidy

 

Sec.  990.200  Determination of formula amount.





    (a) General. The amount of operating subsidy that a PHA is eligible 

for is the difference between its formula expenses (as calculated under 

subpart C of this part) and its formula income (as calculated under 

subpart D of this part).

    (b) Use of HUD databases to calculate formula amount. HUD shall 

utilize its databases to make the formula calculations. HUD's databases 

are intended to be employed to provide information on all primary 

factors in determining the operating subsidy amount. Each PHA is 

responsible for supplying accurate information on the status of each of 

its units in HUD's databases.

    (c) PHA responsibility to submit timely data. PHAs shall submit data 

used in the formula on a regular and timely basis to ensure accurate 

calculation under the formula. If a PHA fails to provide accurate data, 

HUD will make a determination as to the PHA's inventory, occupancy, and 

financial information using available or verified data, which may result 

in a lower operating subsidy. HUD has the right to adjust any or all 

formula amounts based on clerical, mathematical, and information system 

errors that affect any of the data elements used in the calculation of 

the formula.