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Project-Based Budgeting


Along with project-based funding, PHAs will be required to undertake project-based budgeting, the next building block of asset management.

Essentially, project-based budgeting means that operating budgets will now be completed at the project-level as opposed to the PHA or entity-wide level.

  • Primarily, project-based budgets will be used for internal PHA planning purposes.
  • Project-based budgets must be approved by the PHA's Board prior to the start of each fiscal year.
  • However, these budgets will not be subject to HUD approval, except in the case of non-performing properties.
  • HUD does prescribe a specific budget format although the budget should reconcile to the updated Financial Data Schedule or FDS.

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