Stop Loss

Under the new Operating Fund rule, PHAs that will experience a decline in funding can have their losses “stopped” by demonstrating a successful conversion to asset management, i.e., “stop-loss.” This website contains information for PHAs regarding Stop-Loss.

The Year 2 Stop-Loss application deadline is April 15, 2008. Adhere to the Year 2 Stop Loss Submission Kit and any current and subsequent PIH Notices. Send two (2) copies to the Financial Management Division; send one (1) copy to your local Field Office. In total, three (3) copies should be sent on behalf of the PHA.

If your PHA is not applying for Stop Loss, or has already received a Stop Loss Notification, please disregard this notice.

	Abbreviated Submissions for Year 2 Stop Loss   Notification for Year 1 Stop-Loss Applicants - Any PHA that submitted an application for Year 1 but, as of March 1, 2008, has not received an official denial letter from the Department only needs to submit an abbreviated application, for large PHAs (250 or more units) submission is due by the Year 2 deadline of April 15, 2008 and for small PHAs (249 or less) submission is due by April 30, 2008. The abbreviated application includes only the following five items, as described in the Year 2 Stop-Loss Submission Kit, dated June 29, 2007:   Item 3 (Agency-Wide Schedule of Salary and Positions)   Item 4 (Board Resolution Approving Project and COCC Budgets)   Item 5 (Operating Budgets)   Item 16 (Operating Statements)   Item 17 (Schedule of Flat Rents, by AMPs) The PHA will then be provided with 45 days from the date of HUD’s official denial letter to submit documentation for any failed criteria. No additional information will be required for criteria found acceptable in the Year 1 application. HUD will review submitted material to determine whether or not an on-site assessment is required.
	Stop Loss PHA Guidance PHAs will find Stop-Loss Guidance regarding the process to review Stop-Loss applications. PHAs will also find a Tool solely for the aid of the contract team in conducting assessments; however, PHAs may find this Tool useful in reviewing this check-list in preparation for an on-site review.
	Stop-Loss Reviewer Checklist Tool (MS-Excel)
	PIH Notice 2007-16, This notice provides information for public housing agencies (PHAs) that wish to submit documentation of successful conversation to asset management in order to discontinue their reduction in operating subsidy.
	PIH Notice 2006-35, This notice amends PIH notice, PIH 2006-14 (HA), issued, March 22, 2006, to extend the application submission deadline to qualify for the first stop-loss deadline to April 15, 2007. As provided in PIH 2006-14, stop-loss applies only to PHAs that [...]
	PIH Notice 2006-14, Operating Fund Program Final Rule: Transition Funding and Guidance on Demonstration of Successful Conversion to Asset Management to Discontinue the Reduction of Operating Subsidy, issued March 22, 2006.
	Demonstrating Successful Conversion To Asset Management: A Site Visit to the Charlotte Housing Authority
	Stop-Loss Year 2 Submission Kit   Stop-Loss Year 2 Fillable Forms   Attachment A-Checklist of Required Information   Attachment B-PHA Data Form   Attachment C-Agency Wide Schedule of Salaries and Positions   Attachment D-Certifications of Long Term Capital Planning   Attachment E-Certification of Compliance with Risk Management Responsibilities   Board Resolution Approving the AMP Budgets   COCC Budget   Description of How Management Services are arranged   Flat Rents
	Stop-Loss Year 1 Submission Kit

Stop-Loss Year 1 Fillable Forms   Attachment A - Check List Required Information   Attachment B - PHA Data Form   Attachment C - Certification of Long Term Capital Planning   Attachment D - Certificate of Compliance with Risk Management Responsibilities   Description of How Management Services Are Arranged   Sample Fillable Excel Site Budget Form