Financial Assessement of Public Housing Agencies

Financial Assessment of Public Housing Agencies
(FASS PHA)

FASS PH reviews the annual financial statements of over 4,000 public housing agencies and section 8 only entities in the country to assess their financial condition and risk.

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Mixed Finance Properties

Entering mixed finance property status in the "Mixed Finance Exempt from FASS-ph" field in IMS/PIC.

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Revisions to Accounting Brief #18

Accounting Brief #18 has been updated as a result of the latest portability regulation and to incorporate line item modifications to the FDS.

Notice to Financial Assessment Subsystem–Public Housing (FASS-PH) System Users

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Notice to FASS-PH System Users

The FASS-PH submission "validation" issue has been corrected. PHAs are now able to validate and submit their unaudited and audited financial information.

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FASS-PH February 2016 System Release

A FASS-PH System Release will be implemented on February 15, 2016. For the list of items updated in this release, click on Learn More.

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Bad Debts Reporting in the FDS

On 9/23/2015 HUD published a guidance on reporting Bad Debts in the FDS resulting from the issuance of OMB's 2 CFR 200.

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Family Self Sufficiency (FSS) Program or CFDA #14.896

The Consolidated Appropriations Act of 2014 (enacted on 1/17/2014) provided that FSS Coordinator funding for the PH and HCV programs be combined.

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Accounting Brief #22

This brief was issued on October 2014. It outlines how the projects converting to Rental Demonstration Program (RAD) are to be reported in the Financial Data Schedule (FDS).

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FDS Line Definition Guide (July 2014)

The Guide was updated to reflect the requirements of GASB Statements #63 & #65 and to clarify specific FDS line definitions effective for PHAs with FYE 12/31/2013 & later.

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Accounting Brief #21

Reporting in FDS the "Deferred Outflows/Inflows of Resources & Net Position" (GASBS 63) and "Items Previously Reported as Assets & Liabilities" (GASBS 65).

View all Highlights: complete listing of past and current highlighted information in FASS PH affecting compliance and financial reporting to HUD by public housing agencies and section 8 only entities.

Financial Submission Tools Current information to assist public housing agencies and section 8 only entities in their annual financial submission to HUD in compliance with UFRS and PHAS rule.

Other Information Miscellaneous information i.e. Procedures on how to submit Appeals & Waiver request; PHAS scoring (FASS, MASS, PASS and Capital Fund); MTW and other program reporting in FDS.