AudioShort Tapes and Materials
Section 8 Utilization Part III: Financial "Asset Management"
of the Section 8 Tenant-Based Housing Choice Voucher Program
Is your LHA facing the loss of Section 8 vouchers when HUD reallocates
unused budget authority? Was your LHA not eligible for HUD's FY 2002
"Fair Share" Incremental NOFA or was it eligible, but is now
having a hard time staying at the 97% utilization rate? If the answer
to any of these questions is yes, this AudioShort is for you! Our panelists
will help show you how to perform financial "asset management"
of the Section 8 program, to reach maximum utilization rates and stay
there.
In September, 2001 HUD revised SEMAP so that an LHA which expends at
least 98% of its budget authority (utilization rate) receives the full
20 points for this indicator, 95% utilization or lease-up receives 15
points, and anything less than that receives nothing. In other words,
you need to be able to run your Section 8 program's utilization rate
with a 5% margin of error or less in order to be a "high performer"
under SEMAP.
How are you going to do this when there are so many different things
that can affect utilization and lease-up rates? Changes in rental market
conditions, voucher issuance rates, voucher success rates, income targeting,
portability absorptions and billings can all affect utilization and
lease-up rates, and they are all inter-related to boot!
To accomplish maximum utilization, you need to integrate information
between your Section 8 program administration and budget administration.
Even if your departments have good relationships and systems in place,
you need to develop even closer ties and better ways of communicating
program data, trends and emerging concerns, in order to be successful.
Having reliable data is instrumental in illustrating your utilization
and lease-up concerns to your board and HUD, and it is essential in
securing additional resources to serve your authorized number of units.
Let our panelists show you how to get there!
Presenters:
Cathy Pennington
Director, Section 8 Department
Cuyahoga Metropolitan Housing Authority
Cleveland, OH
Bruce Melville
Supervisor of Standards & Performance
Cuyahoga Metropolitan Housing Authority
Cleveland, OH
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