Audited Financial Submission Procedure For Public Housing Agencies With Fiscal Year Ends Of June 30, 2008 Through March 31, 2009.

Information by State  Print version

Public housing agencies (PHAs) with fiscal years ending 6/30/08 and 9/30/08, including Section 8 only PHAs, will utilize the audited Financial Data Schedule (FDS) Tool in lieu of inputting financial data directly into the Financial Assessment Subsystem (FASS) on-line system. PHAs may submit the FDS Tool beginning April 27, 2009 for audited financial submissions, using the FASS on-line system as an entryway. Specific audited submission due dates will be posted shortly. Please refer to the Special Instructions below for using the audited FDS Tool.

PHAs with fiscal years ending 12/31/08 and 3/31/2009, including Section 8 only PHAs, will revert back to using the FDS contained in the on-line system in lieu of utilizing the audited FDS Tool. A FASS computer system release is planned for October 2009 that will include the necessary functionality for entering FDS information on-line.

For PHAs that may need to issue their audited financial statements for purposes other than for filing with HUD (for example, to meet Single Audit or state statutory filing deadlines), they may do so. The PHA auditor will need to perform necessary audit procedures in order to issue a separate SAS 29 opinion on the FDS. Consequently, the separate auditor's opinion on the FDS may carry a later date than that of the auditor's report on the basic financial statements. Information for complying with the required SAS No. 29, Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents, "in relation to" reporting (SAS 29 opinion) on the FDS can be found on the following link: http://www.hud.gov/offices/reac/products/prodpha.cfm

Special Instructions for the Audited FDS Tool (applies only to PHAs with fiscal years ending 6/30/08 and 9/30/08)

• Download:
  To download the FDS Tool to your hard drive, click the appropriate FDS Tool hyperlink below (pertaining to the accounting basis of the PHA) and save (click the "Save" button) the FDS Tool using standardized naming conventions detailed in the bullet below. Do not click the "Open" button. Clicking the "Open" button will result in a slow or unsuccessful download. If you do not receive the "File Download" pop-up window, simply right click and "save target as." The Modified Accrual FDS Tool pertains to certain Section 8 only PHAs. The FDS Tool is limited to a specific number of columns; accordingly, PHAs with more than eighty (80) projects, such as New York City (NY005) and Puerto Rico (RQ005), will require a separate FDS Tool. If your PHA has more than eighty projects, please send an e-mail to Nicholas Miele, Director FASS-PH, at the following e-mail address: Nicholas.x.miele@hud.gov to request a customized FDS Tool.

• FDS Tool - User Manual (MS-Word 6.18 MB)
  
• FDS Tool - Full Accrual (MS-Excel 3.33 MB)
  
• FDS Tool - Modified Accrual (MS-Excel 3.34 MB)
  
• Quick Start Guide (MS-Word 12 MB)
  

• Standard Naming Conventions:
  Name the FDS Tool using the PHA code and fiscal year end of the submission being completed. Included the word Audited after the fiscal year end to identify the submission as an audited submission. For Example: PHA DC111 with a fiscal year end of June 30, 2008 would be named "DC111_06-30-2008_Audited.xls."
  
  
• Complete and Submit:
  PHAs will complete the audited FDS Tool and then submit it to HUD using the "Comments Link" contained in the FASS on-line system. The Quick Start Guide provides further instructions on attaching the FDS Tool to the FASS on-line system at http://www.hud.gov/offices/reac/products/fass/pha_doc.cfm The Excel version of the FDS will replace the on-line system input for PHAs, including Section 8 only PHAs, with fiscal years ending 6/30/08 and 9/30/08.
  
  
• FDS Line Definition Guide:
  The FDS Line Definition Guide is located on the FASS-PH webpage at http://www.hud.gov/offices/reac/products/prodpha.cfm