[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR990.200]

[Page 717]
 
                 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.