PIH Notice 2011-58: Reporting of Administrative Fee Reserves

Summary:  On October 27, 2011 HUD issued a Notice (PIH Notice 2011-58) to extend PIH Notice 2010-7 with several changes.  HUD’s notice provides specific guidance to Public Housing Agencies (PHAs) on the use of the Administrative Fee Reserves and reiterates guidance on PHA cash management and approved investment instruments. HUD’s notice also provides guidance on the reporting of Administrative Fee Reserves and use when faced with insufficient funding. This Notice responds to recommendations by the Office of the Inspector General to implement controls and requires reconciliation of administrative fee reserves.  HUD’s notice does not apply to PHA’s approved for fungibility under a Moving to Work (MTW) agreement or under an agreement for Section 901 Disaster Assistance.

Date of Issuance:  October 27, 2011

View the notice here.