There are two trust fund accounts that must be established for each HOME PJ:

1. A U.S. Treasury HOME Investment Trust Fund account.
2. A local HOME Investment Trust Fund account.

The U.S. Treasury HOME Investment Trust Fund account is a set-aside account established by HUD at the U.S. Treasury for HOME funds allocated to the PJ. Funds from the Treasury are drawn down by the PJ through the Integrated Disbursement and Information System (IDIS). This system will apply certain restrictions on how funds may be drawn down, according to applicable HOME Program regulations. For example, at least 15 percent of a PJ's HOME funds will be reserved and must be drawn for CHDO development activities, while no more than 10 percent may be drawn for administrative costs.

The Local HOME Investment Trust Fund account is established by the PJ at a local banking institution. The local Trust Fund account includes:

• HOME funds disbursed from the U.S. Treasury HOME Investment Trust Fund as wire transfers;
• Repayments of HOME funds, if any;
• Repayments of matching contributions, if any;
• Interest or other return on investment of HOME and matching funds;
• Where applicable, funds used to make up the shortfall between the formula amount and the funding threshold amount needed to qualify as a PJ.

A PJ may establish or designate a second local HOME Investment Trust Fund if:

• The PJ has its own affordable housing trust fund that it will use for matching contributions.
• There is a local ordinance that requires repayments from the PJ's trust fund to be made to the trust fund.
• The PJ establishes a separate account within the trust fund for repayment of matching contributions.
• The account is used solely for HOME activities by the PJ.