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Project-Based Accounting

Overview

The third core reform under asset management is project-based accounting. Project-based accounting provides the ability to track financial performance at the project-level. Ultimately, project-based accounting provides the necessary information to make effective decisions at the project-level.

  • As with other federally-assisted housing programs, PHAs will be required to submit to HUD year-end financial statements on each project. These financial statements will include revenue, expense, and balance sheet items.
  • Further, PHAs will only be able to charge projects for services actually received. For example, in accounting for project costs, PHAs will not be permitted simply to spread the cost of central maintenance across projects.
  • Lastly, any overhead fees and any fees for centrally-provided property management services, must be considered reasonable. This means that the costs must not exceed what other efficient operators would incur for those same services in the local market.

Resources and Links

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(NEW) Special Instructions for Preparing Financial Data Schedules for Moving to Work Agencies

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Guidance on Asset Management Provisions in the Consolidated Appropriations Act, 2008

 -   Special Year-End Financial Reporting Issues for Demolition/Disposition Projects (08-17-2009)
 -   Information Regarding the September 2009 System Release and the Impact on Public Housing Agency (PHA) Annual Financial Submissions
 -   Capital Fund Stimulus Grant Reporting
 -   Clarification of Phase-in-Fees (11-24-2008)
 -   Financial Data Schedule Line Definition Guide, November 2008 (Updated May 2012)
 -   Asset Management FASS-PH Submitting a Financial Data Schedule Pre-view Demonstration
 -   FASS PH - Excel Version of the Financial Data Schedule
 -   PIH Notice 2007-9 - Updated Changes in Financial Management and Reporting for Public Housing Agencies Under the New Operating Fund Rule (24 CFR Part 990), issued April 10, 2007.
 -   PIH Notice 2007-9 Supplement to Financial Management Handbook Office of Public and Indian Housing (PIH) Revised April 2007
 -   PIH Notice 2007-9 Comments
 -   Capital Fund Reporting
 -   Eligible Uses of Funds
 -   FDS Under Asset Management & Reporting Briefs
 -   Eligible Uses of Operating Fund Program Receipts
 -   Fiscal Year End Changes
 -   Insurance
 -   Schedule of Key Asset Management Provisions
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2013 Schedule of Management Fees

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2012 Schedule of Management Fees (03-12-12)

 - 2011 Schedule of Management Fees (08-25-2011)
 -   2010 Schedule of Management Fees (02-23-2010)
 -   2009 Schedule of Management Fees (12-23-2008)
 -   2008 Schedule of Management Fees (04-24-2008)
 -   Supplemental Guidance on Phase-in Management Fees (5-28-2008)
 -   Supplemental Guidance on Phase-in Management Fees (7-7-2008)
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Table of Fees Under Asset Management

 -   Financial Reporting FAQs (06-27-2008)
 - FASS Accounting Briefs