project based accounting & asset management julie miles, financial analyst hud-kansas city, ks...
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Project Based AccountingProject Based Accounting& Asset Management& Asset Management
Julie Miles, Financial AnalystJulie Miles, Financial Analyst
HUD-Kansas City, KSHUD-Kansas City, KS
913-551-5529913-551-5529
11
AgendaAgenda
All PHAsAll PHAs Project-Based Budgeting & AccountingProject-Based Budgeting & Accounting
Small PHAs (Less Than 250 PH Units)Small PHAs (Less Than 250 PH Units) Single AMPsSingle AMPs Multiple AMPsMultiple AMPs
Large PHAs (250+ PH Units)Large PHAs (250+ PH Units) Decliners Accelerate AM Implementation for Decliners Accelerate AM Implementation for
Stop-LossStop-Loss
22
Asset ManagementAsset Management
Asset Management
(AM)
Project-Based Management
(PBM)
Project-Based Accounting
(PBA)
Project-Based Budgeting
(PBB)
33
PBB & PBAPBB & PBA
Project LevelProject Level BudgetingBudgeting AccountingAccounting Financial Statement ReportingFinancial Statement Reporting
Applies To All Programs & Revenue Applies To All Programs & Revenue Sources Supporting Projects Under ACCSources Supporting Projects Under ACC
44
PBMPBMFocus on Operation & Management of ProjectFocus on Operation & Management of ProjectAddress Project Needs With Project ResourcesAddress Project Needs With Project ResourcesDay-to-Day Responsibilities & Decision-Making Day-to-Day Responsibilities & Decision-Making at Project Level—not Central Officeat Project Level—not Central OfficeProject-Specific:Project-Specific: MarketingMarketing LeasingLeasing Resident ServicesResident Services Routine and Preventative MaintenanceRoutine and Preventative Maintenance Lease EnforcementLease Enforcement Protective ServicesProtective Services
55
AMAM
AM = PBM + PBB + PBAAM = PBM + PBB + PBA
PHA-Wide Policy & DirectionPHA-Wide Policy & Direction
Long-Term Capital & Administrative PlanningLong-Term Capital & Administrative Planning
Property Management PerformanceProperty Management Performance
Review of Entity-wide Financial InformationReview of Entity-wide Financial Information
Long-Term Viability of PropertiesLong-Term Viability of Properties
Risk ManagementRisk Management
Property Repositioning & ReplacementProperty Repositioning & Replacement
66
ApplicabilityApplicabilityPBB & PBAPBB & PBA RequiredRequired for All PHAs for All PHAs FYBs 7/1/07 & LaterFYBs 7/1/07 & Later
PBM & AM PBM & AM RequiredRequired FY 11 FY 11 PHAs With 250 or More PH UnitsPHAs With 250 or More PH Units Accelerate AM Implementation for Stop LossAccelerate AM Implementation for Stop Loss
PBM & AM PBM & AM OptionalOptional PHAs With Less Than 250 PH Units & 1 AMPPHAs With Less Than 250 PH Units & 1 AMP Elect AM Implementation for Stop Loss IncentiveElect AM Implementation for Stop Loss Incentive
77
PBBPBB
Budget Budget RequiredRequired for Each AMP for Each AMPBudget Budget RecommendedRecommended for Central Office for Central Office Cost Center (COCC)Cost Center (COCC) Stop-Loss Stop-Loss RequiresRequires COCC Budget COCC BudgetBoard Approval of Each AMP on 1 Board Approval of Each AMP on 1 ResolutionResolutionUnless Troubled, Budget Submission to Unless Troubled, Budget Submission to HUD Not RequiredHUD Not RequiredSubmit Board Resolution to HUD Field Submit Board Resolution to HUD Field OfficeOffice
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PBB FormatPBB FormatRevise Existing Budget FormsRevise Existing Budget FormsNo Uniform Budget Format, but Must:No Uniform Budget Format, but Must: Reconcile to FDSReconcile to FDS Allow Comparison to Actual Revenues & Allow Comparison to Actual Revenues &
ExpensesExpenses Include All Revenues & Expenses of the Include All Revenues & Expenses of the
Operating & Capital FundsOperating & Capital Funds Include Estimate of Operating Subsidy Include Estimate of Operating Subsidy
ProrationProration Include Fungibility Transfers (ex. CFP for Include Fungibility Transfers (ex. CFP for
Operations)Operations) Include Anticipated Uses of Excess CashInclude Anticipated Uses of Excess Cash
99
New FDS FormatNew FDS Format
AMP Level Financial ReportingAMP Level Financial Reporting
Operating Fund and Capital Fund Operating Fund and Capital Fund ReportingReporting at AMP Level vs. PHA Level at AMP Level vs. PHA Level
New ColumnsNew Columns AMP & COCC Columns Replace Low-Rent AMP & COCC Columns Replace Low-Rent
and CFP Columnsand CFP Columns Elimination Column Subtracts Internal Elimination Column Subtracts Internal
COCC/AMP Transactions from Entity-Wide COCC/AMP Transactions from Entity-Wide TotalsTotals
1010
New FDS Line ItemsNew FDS Line Items
Fee Revenues & ExpensesFee Revenues & Expenses
More Expense DetailMore Expense Detail Other Operating-AdministrativeOther Operating-Administrative Ordinary Maintenance & Operations-Contract Ordinary Maintenance & Operations-Contract
CostsCosts Insurance PremiumsInsurance Premiums
Memo AccountsMemo Accounts Measure Revenue LossMeasure Revenue Loss Unit Month DetailUnit Month Detail CFP Expenditure DataCFP Expenditure Data
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New FDS—PHA LevelNew FDS—PHA Level
$ $ ThousandsThousands
ProgramProgram
TotalTotalTotal Total AMPsAMPs
S8 S8 HCVHCV
Rural Rural HousingHousing
COCCCOCC Elim.Elim.
AssetsAssets $10,100$10,100 $300$300 $750$750 $400$400 -$50-$50 $11,500$11,500
LiabilitiesLiabilities $4,850$4,850 $200$200 $250$250 $300$300 - $50- $50 $5,550$5,550
EquityEquity $5,250$5,250 $100$100 $500$500 $100$100 $5,950$5,950
RevenueRevenue $1,730$1,730 $1,000$1,000 $575$575 $270$270 -$250-$250 $3,325$3,325
ExpensesExpenses $1,360$1,360 $990$990 $560$560 $240$240 -$250-$250 $2,900$2,900
Net Net IncomeIncome $370$370 $10$10 $15$15 $30$30 $425$425
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New FDS—AMP LevelNew FDS—AMP Level
$ Thousands$ ThousandsAsset Management ProjectsAsset Management Projects
TotalTotalProject Project 11
Project Project 22
Project Project 33
Other Other AMPAMP
AssetsAssets $3,434$3,434 $3,254$3,254 $3,130$3,130 $282$282 $10,100$10,100
LiabilitiesLiabilities $1,649$1,649 $1,522$1,522 $1,503$1,503 $176$176 $4,850$4,850
EquityEquity $1,785$1,785 $1,732$1,732 $1,627$1,627 $106$106 $5,250$5,250
RevenueRevenue $588$588 $527$527 $536$536 $78$78 $1,730$1,730
ExpensesExpenses $462$462 $429$429 $421$421 $47$47 $1,360$1,360
Net IncomeNet Income $126$126 $98$98 $115$115 $31$31 $370$370
1313
PBA-CFPPBA-CFP
CFP for AMPs Only—Except COCC CFP CFP for AMPs Only—Except COCC CFP Management FeeManagement Fee
Unobligated Grants: Actual CostsUnobligated Grants: Actual Costs
Actual Costs for Unobligated Grant Prior to AMActual Costs for Unobligated Grant Prior to AM
Future Grants: Fee-for-Service if Implement AMFuture Grants: Fee-for-Service if Implement AM
Transfers to Operations Allowed with Current Transfers to Operations Allowed with Current Regulatory LimitsRegulatory Limits
Work Item Fungibility ContinuesWork Item Fungibility Continues
Future Transition of BLIs to FDSFuture Transition of BLIs to FDS
1414
PBA-PHASPBA-PHAS
New PHAS AssessmentNew PHAS Assessment
Starting FYE 6/30/08Starting FYE 6/30/08
AMP-Level Score Rolled Up to PHA-Level AMP-Level Score Rolled Up to PHA-Level ScoreScore
First Year Transitional ScoresFirst Year Transitional Scores
First Year CFP Bonus Based on Previous First Year CFP Bonus Based on Previous PHAS ScorePHAS Score
1515
Stop-LossStop-Loss
Transition CalculationTransition Calculation FFY 04 Subsidy Eligibility if New Operating FFY 04 Subsidy Eligibility if New Operating
Subsidy Formula ImplementedSubsidy Formula Implemented 5-Year Loss Phase-in5-Year Loss Phase-in
Year 1 CY 07 5% Limit = 95% Add-onYear 1 CY 07 5% Limit = 95% Add-on
Year 2 CY 08 24% Limit = 76% Add-onYear 2 CY 08 24% Limit = 76% Add-on
Year 3 CY 09 43% Limit = 57% Add-onYear 3 CY 09 43% Limit = 57% Add-on
Year 4 CY 10 62% Limit = 38% Add-onYear 4 CY 10 62% Limit = 38% Add-on
Year 5 CY 11 81% Limit = 19% Add-onYear 5 CY 11 81% Limit = 19% Add-on
Stop-Loss Limits Loss to Applicable Percent Stop-Loss Limits Loss to Applicable Percent in Year Stop-Loss Approvedin Year Stop-Loss Approved
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Stop-Loss Due DatesStop-Loss Due Dates
Year 1 Due 10/15/07Year 1 Due 10/15/07
Year 2 Due 4/15/08Year 2 Due 4/15/08
Year 3 Due 10/15/08Year 3 Due 10/15/08
Year 4 Due 10/15/09Year 4 Due 10/15/09
Year 5 Due 10/15/10Year 5 Due 10/15/10
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Stop-Loss for Large PHAsStop-Loss for Large PHAs
250 PH Units or More250 PH Units or More
COCCCOCC
Multiple AMPsMultiple AMPs
Traditional Asset ManagementTraditional Asset Management
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Stop-Loss for Small PHAsStop-Loss for Small PHAs
Less Than 250 PH UnitsLess Than 250 PH Units
Alternate Asset Management (No COCC) if PUM Alternate Asset Management (No COCC) if PUM Admin Doesn’t Exceed Admin ThresholdAdmin Doesn’t Exceed Admin Threshold
Admin Threshold Published in Supplement to PIH Admin Threshold Published in Supplement to PIH Notice 2007-09, Financial Management Handbook, Notice 2007-09, Financial Management Handbook, Table 9.1Table 9.1
Admin Threshold Updated Annually, Schedule of Admin Threshold Updated Annually, Schedule of Management Fees, Table 2, 80Management Fees, Table 2, 80thth Percentile Percentile Administrative CostsAdministrative Costs
http://www.hud.gov/offices/pih/programs/ph/am/http://www.hud.gov/offices/pih/programs/ph/am/accounting.cfmaccounting.cfm
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PUM Admin CalculationPUM Admin Calculation
+ Admin Salaries+ Admin Salaries+ Admin Benefits+ Admin Benefits+ Outside Management Expense+ Outside Management Expense+ Other Admin+ Other Admin+ Admin Costs CFP BLI 1408 Mgmt Improvements+ Admin Costs CFP BLI 1408 Mgmt Improvements÷ ÷ Occupied Units & Approved VacanciesOccupied Units & Approved Vacancies
***Calculation Excludes Audit Expense & Excludes ***Calculation Excludes Audit Expense & Excludes Limited VacanciesLimited Vacancies
2020
Appeal for Changing Market Appeal for Changing Market ConditionsConditions
May Increase Subsidy if Vacant Unit Months Exceeded May Increase Subsidy if Vacant Unit Months Exceeded Limited VacanciesLimited Vacancies
Decreases PUM Admin CostDecreases PUM Admin Cost
Appeal With OpSub Calculation or by OpSub Revision Appeal With OpSub Calculation or by OpSub Revision DeadlineDeadline List of Unit Numbers & Periods VacantList of Unit Numbers & Periods Vacant Narrative Explaining Specific Changing Market Conditions Narrative Explaining Specific Changing Market Conditions
(ex. Population Decline, Competing Project, etc.)(ex. Population Decline, Competing Project, etc.) Narrative Explaining Marketing EffortsNarrative Explaining Marketing Efforts Certify No Waiting List for Unit Months in AppealCertify No Waiting List for Unit Months in Appeal Certify Unit Months in Appeal Ready to Rent (not Certify Unit Months in Appeal Ready to Rent (not
Downtime or Make-Ready)Downtime or Make-Ready)2121
AMAM
250+ PH Units250+ PH Units
To Qualify for Stop-Loss, Decliners Less To Qualify for Stop-Loss, Decliners Less Than 250 PH Units & Exceeds Admin Than 250 PH Units & Exceeds Admin LimitLimit
2222
AMAM
COCCCOCC
$4 PUM AM OpSub Add-on if 2+ AMPs$4 PUM AM OpSub Add-on if 2+ AMPs
Monitor Cash Flow at AMP LevelMonitor Cash Flow at AMP Level
Bank Account Per AMP Not Required Bank Account Per AMP Not Required
Replace Cost Allocation with Fee-for-Replace Cost Allocation with Fee-for-ServiceService
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AM—Balance Sheet AllocationAM—Balance Sheet Allocation
Required 1Required 1stst Year of AM Year of AM
Assign to AMP/COCC/Other Program if Assign to AMP/COCC/Other Program if Direct Relationship ExistsDirect Relationship Exists
Assign Equipment to Controlling Assign Equipment to Controlling AMP/COCC/Other ProgramAMP/COCC/Other Program
2424
Legacy Costs & Associated Legacy Costs & Associated Unfunded LiabilitiesUnfunded Liabilities
Allocate to AMP, COCC & Other Allocate to AMP, COCC & Other Programs to Ensure All Bear Programs to Ensure All Bear Proportionate Share—May Consider Proportionate Share—May Consider Ability to PayAbility to Pay
2525
Compensated AbsencesCompensated AbsencesAllocate Based on Current Employee Allocate Based on Current Employee AssignmentAssignmentTransfer Associated Liability & Liquid Asset if Transfer Associated Liability & Liquid Asset if Employee Transfers—A/P & A/R if No Liquid Employee Transfers—A/P & A/R if No Liquid Asset AvailableAsset AvailableCOCC May Setup A/R from AMPs & Other COCC May Setup A/R from AMPs & Other Programs for COCC Share At Initial Balance Programs for COCC Share At Initial Balance Sheet AllocationSheet AllocationNot Subject to Excess Cash RulesNot Subject to Excess Cash RulesEliminate A/R & A/P on FDSEliminate A/R & A/P on FDS
2626
Pension & Other Post-Pension & Other Post-Employment Benefits (OPEBs)Employment Benefits (OPEBs)Current & Retired EmployeesCurrent & Retired Employees
Pension, Retiree Medical & Other Pension, Retiree Medical & Other Related ExpensesRelated Expenses
Accounting & Contributions Based on Accounting & Contributions Based on Retirement PlanRetirement Plan
Allocate Annual Contribution Based on Allocate Annual Contribution Based on Employee AssignmentEmployee Assignment
2727
Other Post-Employment Other Post-Employment Benefits (OPEBs)Benefits (OPEBs)
Historically Pay-As-You-GoHistorically Pay-As-You-Go
GASB 45 Requires Liability RecordingGASB 45 Requires Liability Recording
Annual Required Contribution (ARC)Annual Required Contribution (ARC) Normal Annual CostNormal Annual Cost Share of Unfunded Liability—Not to Share of Unfunded Liability—Not to
Exceed 30 YearsExceed 30 Years
Charge to COCC for All EmployeesCharge to COCC for All Employees
2828
OPEBs (Continued)OPEBs (Continued)Non-COCC Employee Share: AMPs & Non-COCC Employee Share: AMPs & Other Programs Transfer Liquid Other Programs Transfer Liquid Assets Annually to COCC to Cover Assets Annually to COCC to Cover ARCARCCOCC Employee Share Covered by COCC Employee Share Covered by Fees EarnedFees EarnedA/P & A/R if No Liquid Assets A/P & A/R if No Liquid Assets AvailableAvailableNot Subject to Excess Cash RulesNot Subject to Excess Cash Rules
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Other LiabilitiesOther LiabilitiesLawsuits, Legal Actions, Lead-Based Lawsuits, Legal Actions, Lead-Based Paint, AsbestosPaint, Asbestos
Record at COCCRecord at COCC
Recover from AMPs & Other Programs Recover from AMPs & Other Programs Based on Reasonable MethodBased on Reasonable Method
Not Subject to Excess Cash RulesNot Subject to Excess Cash Rules
A/P & A/R if No Liquid Assets AvailableA/P & A/R if No Liquid Assets Available
3030
AM—Balance Sheet AllocationAM—Balance Sheet Allocation
Restricted AssetsRestricted Assets
Real & Personal Property Assigned to Real & Personal Property Assigned to COCCCOCC Restricted Assets Subject to Federal Restricted Assets Subject to Federal
Program RulesProgram Rules Future Guidance on COCC Asset DisposalFuture Guidance on COCC Asset Disposal
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AM—Working CapitalAM—Working CapitalAssign Cash to COCC Equivalent of Up to Assign Cash to COCC Equivalent of Up to 6 Months Estimated Property 6 Months Estimated Property Management, Bookkeeping, and AM Fees Management, Bookkeeping, and AM Fees Based on 100% Occupancy of All ACC Based on 100% Occupancy of All ACC UnitsUnitsNot Subject to Excess Cash RestrictionsNot Subject to Excess Cash RestrictionsIf Cash Not Available at AMP, May Record If Cash Not Available at AMP, May Record Receivable/LiabilityReceivable/Liability Receivable/Liability Must Be Paid Prior to Receivable/Liability Must Be Paid Prior to
Payment of Additional AM Fees or AMP Payment of Additional AM Fees or AMP Fungibility TransferFungibility Transfer
3232
Cost AssignmentCost Assignment
Front Line (AMP) ExpensesFront Line (AMP) Expenses Related to Direct Operation of the PropertyRelated to Direct Operation of the Property
vs. Management Fee (COCC) Expensesvs. Management Fee (COCC) Expenses Related to Corporate SupportRelated to Corporate Support
GuidanceGuidance Asset Management Planning Document Asset Management Planning Document
Attachment BAttachment B PIH Notice 2007-9, Financial Management PIH Notice 2007-9, Financial Management
Handbook Supplement Table 7.2Handbook Supplement Table 7.2 Multifamily Management Agent Handbook, HUD Multifamily Management Agent Handbook, HUD
4381.5, Chapter 64381.5, Chapter 63333
Central Front-Line AdminCentral Front-Line AdminReasonably Prorate Direct Labor, Supplies & Reasonably Prorate Direct Labor, Supplies & Equipment to AMPsEquipment to AMPs
Prorated Costs Include Equipment Purchased Prorated Costs Include Equipment Purchased with Capital or Operating Funds remain AMP with Capital or Operating Funds remain AMP Program AssetsProgram Assets
Document Proration MethodDocument Proration Method
Adjust to Actual Costs at Year-End At MinimumAdjust to Actual Costs at Year-End At Minimum
Cannot Exceed Cost if Performed On-siteCannot Exceed Cost if Performed On-site
Can’t Prorate if On-site Staff Also Perform TaskCan’t Prorate if On-site Staff Also Perform Task
3434
Prohibited Central Front-Line AdminProhibited Central Front-Line AdminSupervision Cost of Front-Line Admin—Except for Supervision Cost of Front-Line Admin—Except for Central Waiting Lists, Central Resident Services, and Central Waiting Lists, Central Resident Services, and Central Protective ServicesCentral Protective ServicesProcurement/Warehousing—Unless Cheaper than Procurement/Warehousing—Unless Cheaper than Project-Based Procurement/Warehousing & HUD Project-Based Procurement/Warehousing & HUD ApprovesApprovesRent Collection—Unless Listed in Employee’s Job Rent Collection—Unless Listed in Employee’s Job DutiesDutiesResident Services—Unless Can’t Reasonably Track Resident Services—Unless Can’t Reasonably Track Costs to AMPsCosts to AMPsProtective Services—Unless Can’t Reasonably Track Protective Services—Unless Can’t Reasonably Track Costs to AMP & Plan for Future Direct Deployment if Costs to AMP & Plan for Future Direct Deployment if Extensive Central ServicesExtensive Central Services
3535
Central Front-Line MaintenanceCentral Front-Line MaintenanceTechnical & Routine MaintenanceTechnical & Routine Maintenance
Must Use Fee-for-ServiceMust Use Fee-for-Service
Begins 2Begins 2ndnd Year of PBB/PBA Year of PBB/PBA
Actual Services OnlyActual Services Only
Can’t Exceed Market RatesCan’t Exceed Market Rates
Supporting Documents for RatesSupporting Documents for Rates
Can’t Prorate Unrecovered Costs Due to Under-Can’t Prorate Unrecovered Costs Due to Under-Utilization or Unreasonable Low RatesUtilization or Unreasonable Low Rates
Can’t Charge Projects for Costs of Centralized Can’t Charge Projects for Costs of Centralized Supervisor or Admin AssistantsSupervisor or Admin Assistants
3636
Shared Resource CostsShared Resource Costs
Spread Cost to AMPs Receiving ServiceSpread Cost to AMPs Receiving Service
Few AMPs Sharing Resource vs. All AMPsFew AMPs Sharing Resource vs. All AMPs
If Staff Shared between AMPs & COCC, If Staff Shared between AMPs & COCC, Prorate Based on Time Spent on AMPs & Prorate Based on Time Spent on AMPs & COCCCOCC
Limited to Reasonable Labor RatesLimited to Reasonable Labor Rates
3737
COCCCOCC
Not Subject to Program Income Rules if Not Subject to Program Income Rules if Fees ReasonableFees Reasonable State and Local Restrictions May Still ApplyState and Local Restrictions May Still Apply
May Include Business ActivitiesMay Include Business Activities Example: Management Fees for Non-Profit or Example: Management Fees for Non-Profit or
Private PropertiesPrivate Properties
3838
FeesFees
Property ManagementProperty Management
BookkeepingBookkeeping
Asset ManagementAsset Management
CFP ManagementCFP Management
HCV Program ManagementHCV Program Management
Other PIH & HUD Program ManagementOther PIH & HUD Program Management
Non-Federal Program ManagementNon-Federal Program Management
3939
Property Management FeeProperty Management Fee
Multifamily Property Management Fee Multifamily Property Management Fee Schedule—Federally Subsidized Schedule—Federally Subsidized PropertiesProperties
80th Percentile Property Management 80th Percentile Property Management Fees—For-Profit and Limited Divided FHA Fees—For-Profit and Limited Divided FHA PropertiesProperties
Other Local Market DataOther Local Market Data
4040
Property Management FeeProperty Management FeeReasonable in 2Reasonable in 2ndnd + Years + Years Additional 2 Year Extension AvailableAdditional 2 Year Extension Available Stop-Loss Requires Reasonableness in 1Stop-Loss Requires Reasonableness in 1stst Year Year
Earned Monthly for Occupied & HUD-approved Earned Monthly for Occupied & HUD-approved Vacancy, but Not Limited VacanciesVacancy, but Not Limited VacanciesCOCC Retains Difference Between Fee COCC Retains Difference Between Fee Charged to AMP and Fee Paid for Private Charged to AMP and Fee Paid for Private Management, Including Mixed Finance Projects.Management, Including Mixed Finance Projects.COCC Earns Fee if Manages Mixed Finance COCC Earns Fee if Manages Mixed Finance PropertyPropertyDemo/Dispo: 75% Year 1, 50% Year 2Demo/Dispo: 75% Year 1, 50% Year 2Demo: 25% Year 3Demo: 25% Year 3
4141
Bookkeeping FeeBookkeeping FeeUp to $7.50 PUMUp to $7.50 PUM
Reasonable in 2Reasonable in 2ndnd + Years + Years Additional 2 Year Extension Available Additional 2 Year Extension Available Stop-Loss Requires Reasonableness in 1Stop-Loss Requires Reasonableness in 1stst Year Year
Earned Monthly for Occupied & HUD-approved Earned Monthly for Occupied & HUD-approved Vacancy, but Not Limited VacanciesVacancy, but Not Limited Vacancies
Cannot charge if Project Accounting Functions Cannot charge if Project Accounting Functions Also Performed On-site & Charged as Also Performed On-site & Charged as Front-line/AMP CostFront-line/AMP Cost
Can Also Charge to HCV ProgramCan Also Charge to HCV Program
4242
Asset Management FeeAsset Management Fee
11stst Year—Up to $10 PUM Year—Up to $10 PUM
22ndnd+ Years—Up to $10 PUM + Years—Up to $10 PUM andand Not To Not To Exceed Excess Cash CalculationExceed Excess Cash Calculation
Earned Monthly for All ACC UnitsEarned Monthly for All ACC Units
Earned For Demo/Dispo Units Until VacantEarned For Demo/Dispo Units Until Vacant
PHAs With 250+ PH UnitsPHAs With 250+ PH Units
PHAs With Less than 250 PH Units & 2+ PHAs With Less than 250 PH Units & 2+ AMPs & COCCAMPs & COCC
No AccrualsNo Accruals
4343
CFP Management FeeCFP Management Fee
Up to 10% to Admin BLI 1410 & Counts Up to 10% to Admin BLI 1410 & Counts Toward 10% Admin LimitToward 10% Admin Limit
Available to Earn & Draw When Grant Available to Earn & Draw When Grant Awarded & AvailableAwarded & Available
Prior to AM Implementation & Beginning Prior to AM Implementation & Beginning With FFY 2007, Can’t Draw Unobligated With FFY 2007, Can’t Draw Unobligated Funds Under Admin BLI 1410 of Open Funds Under Admin BLI 1410 of Open CFP Grants as CFP Management FeeCFP Grants as CFP Management Fee
4444
CFP Management Fee CFP Management Fee (Continued)(Continued)
FFY 2007 Charge Management Fees FFY 2007 Charge Management Fees Commencing with Start of First Year Commencing with Start of First Year PBB/PBAPBB/PBA May Have Partial Year Actual Cost & May Have Partial Year Actual Cost &
Partial Year FeesPartial Year Fees
Subject to Fee Reasonableness in 2Subject to Fee Reasonableness in 2ndnd Year Year FYEs 6/30/09, 9/30/09, 12/31/09, 3/31/10FYEs 6/30/09, 9/30/09, 12/31/09, 3/31/10
4545
HCV Program Management FeeHCV Program Management Fee
VoluntaryVoluntary
Higher of 20% of HCV Admin Revenue or Higher of 20% of HCV Admin Revenue or $12 PUM per Voucher Leased$12 PUM per Voucher Leased
Guidance HCV Program Management Guidance HCV Program Management Fee vs. Front-Line CostsFee vs. Front-Line Costs PIH Notice 2007-9, Financial Management PIH Notice 2007-9, Financial Management
Handbook Supplement Table 7.2Handbook Supplement Table 7.2
4646
Other Management FeesOther Management Fees
Development ActivitiesDevelopment Activities 3% Total Project Budget3% Total Project Budget Up to 6% if HUD ApprovedUp to 6% if HUD Approved
Other PIH & HUD Grants ManagementOther PIH & HUD Grants Management Up to 15% Grant Amount, if No Fee Rate Up to 15% Grant Amount, if No Fee Rate
EstablishedEstablished
Non-Federal Program ManagementNon-Federal Program Management Voluntary Fee-for-ServiceVoluntary Fee-for-Service
4747
Fee Payment & DocumentationFee Payment & Documentation
Invoice RecommendedInvoice Recommended
Documentation Supporting How Fees Documentation Supporting How Fees EarnedEarned OccupancyOccupancy Fee ReasonablenessFee Reasonableness
4848
FungibilityFungibility
11stst Year AM: Full Fungibility AMP/COCC Year AM: Full Fungibility AMP/COCC
22ndnd Years AM: Fungible Only Between AMPs & Years AM: Fungible Only Between AMPs & Subject to Subject to PositivePositive Excess Cash Restriction Excess Cash Restriction
33rdrd+ Years AM: Fungible Only Between AMPs + Years AM: Fungible Only Between AMPs & Subject to & Subject to 1-Month1-Month Excess Cash Excess Cash RestrictionRestriction
No Restriction on Transfers from COCC to No Restriction on Transfers from COCC to AMPsAMPs
FDS Must Be Submitted & AcceptedFDS Must Be Submitted & Accepted
4949
Excess Cash Calculation: 2Excess Cash Calculation: 2ndnd Year YearBased on Prior Year FDSBased on Prior Year FDSAdjust Excess Cash Limit for Audited FDS Adjust Excess Cash Limit for Audited FDS SubmissionSubmission
+ Unrestricted Cash+ Unrestricted Cash+ Cash-Tenant Security Deposits+ Cash-Tenant Security Deposits+ Cash-Restricted for Payment of Current Liabilities+ Cash-Restricted for Payment of Current Liabilities+ Total Receivables, Net of Allowance for Doubtful + Total Receivables, Net of Allowance for Doubtful
AccountsAccounts+ Unrestricted Investments+ Unrestricted Investments+ Interprogram Due From+ Interprogram Due From- Current LiabilitiesCurrent Liabilities
***Must Be Positive*****Must Be Positive**5050
Excess Cash Calculation: 3Excess Cash Calculation: 3rdrd+ Years+ YearsBased on Prior Year FDSBased on Prior Year FDSAdjust Excess Cash Limit for Audited FDS Adjust Excess Cash Limit for Audited FDS SubmissionSubmission
+ Unrestricted Cash+ Unrestricted Cash+ Cash-Tenant Security Deposits+ Cash-Tenant Security Deposits+ Cash-Restricted for Payment of Current Liabilities+ Cash-Restricted for Payment of Current Liabilities+ Total Receivables, Net of Allowance for Doubtful + Total Receivables, Net of Allowance for Doubtful
AccountsAccounts+ Unrestricted Investments+ Unrestricted Investments+ Interprogram Due From+ Interprogram Due From- Current Liabilities- Current Liabilities- Average Monthly Operating Expenses- Average Monthly Operating Expenses
5151
Excess Cash UsesExcess Cash Uses
AMP ReserveAMP Reserve
Transfer to other AMPsTransfer to other AMPs
Pay Asset Management Fee to COCC, but No Pay Asset Management Fee to COCC, but No Loan/TransferLoan/Transfer
Other Eligible PurposesOther Eligible Purposes Develop New Units-to Extent Allowed Under Develop New Units-to Extent Allowed Under
Program RulesProgram Rules Legal Costs Incurred Prior to AM Legal Costs Incurred Prior to AM Legacy CostsLegacy Costs
5252
ResourcesResourcesPIH Notice 2006-14PIH Notice 2006-14http://www.hudclips.org/sub_nonhud/html/pdfforms/06-14PIH.dochttp://www.hudclips.org/sub_nonhud/html/pdfforms/06-14PIH.doc
PIH Notice 2006-35PIH Notice 2006-35http://www.hudclips.org/sub_nonhud/html/pdfforms/06-35PIH.dochttp://www.hudclips.org/sub_nonhud/html/pdfforms/06-35PIH.doc
Stop-Loss Submission KitStop-Loss Submission Kithttp://www.hud.gov/offices/pih/programs/ph/am/docs/stoplosskit.pdfhttp://www.hud.gov/offices/pih/programs/ph/am/docs/stoplosskit.pdf
Asset Management Planning GuideAsset Management Planning Guidehttp://hudstage.hud.gov/offices/pih/programs/ph/am/docs/pham.pdfhttp://hudstage.hud.gov/offices/pih/programs/ph/am/docs/pham.pdf
PIH Notice 2007-9PIH Notice 2007-9http://www.hudclips.org/sub_nonhud/cgi/pdfforms/07-9PIHSupp.dochttp://www.hudclips.org/sub_nonhud/cgi/pdfforms/07-9PIHSupp.doc
5353