decisions. HUD relies on the audit of the key line items below to determine the reasonableness of the data submitted for the purposes of calculating funding under the program. The following categories contain critical information: Key Line Items – (1) Unit Months Leased (2) HAP Expenses (3) All Specific Disaster Voucher Programs e. Financial Assessment Sub- Financial Reports (OMB No. 2535-0107) – FASS-PH. The Uniform Financial Reporting Standards (24 CFR section 5.801) require PHAs to submit timely GAAP-based unaudited and audited financial information electronically to HUD. The FASS-PH system is one of main monitoring and oversight systems for the HUD’s HCVP. The following line items contain critical information: Key Line Items – (1) FDS Revenue Line Items: The accuracy of these revenue items should be reviewed in conjunction with the annual participant’s budget authority, payment schedules, and other reports. (a) FDS Line 70600-010 (Housing Assistance Payments) – (b) FDS Line 70600-020 (Ongoing Administrative Fees – Earned) (c) FDS Line 71100 (Investment Income Unrestricted) – – (d) FDS Line 72000 (Investment Income Restricted) – – (2) FDS Expenditure Line Items: The accuracy of these expenditure items should be reviewed in conjunction with Chapter 7 of the Supplement to HUD Handbook 7475.1, revised April 2007, which provides HUD guidance on maximum fees allowed and associated fee expenses. (a) FDS Line 91300 (Management Fee) – (b) FDS Line 91310 (Book-Keeping Fee) – (c) FDS Line 96900 (Total Operating Expenses) – (d) FDS Line 97300 (Housing Assistance Payments) –
decisions. HUD relies on the audit of the key line items below to determine the reasonableness of the data submitted for the purposes of calculating funding under the program. Key Line Items – The following categories contain critical information: (1) Unit Months Leased (2) HAP Expenses (3) All Specific Disaster Voucher Programs e. Financial Reports (OMB No. 2535-0107) – Financial Assessment FASS-PH. The Uniform Financial Reporting Standards (24 CFR section 5.801) require PHAs to submit timely GAAP-based unaudited and audited financial information electronically to HUD. The FASS-PH system is one of HUD’s main monitoring and oversight systems for the HCVP. Key Line Items – The following line items contain critical information: (1) FDS Revenue Line Items: The accuracy of these revenue items should be reviewed in conjunction with the participant’s annual budget authority, payment schedules, and other reports. (a) FDS Line 70600-010 – (Housing Assistance Payments) (b) FDS Line 70600-020 – (Ongoing Administrative Fees Earned) (c) FDS Line 71100 – (Investment Income – Unrestricted) (d) FDS Line 72000 – (Investment Income – Restricted) (2) FDS Expenditure Line Items: The accuracy of these expenditure items should be reviewed in conjunction with Chapter 7 of the Supplement to HUD Handbook 7475.1, revised April 2007, which provides HUD guidance on maximum fees allowed and associated fee expenses. (a) FDS Line 91300 – (Management Fee) (b) FDS Line 91310 – (Book-Keeping Fee) (c) FDS Line 96900 – (Total Operating Expenses) (d) FDS Line 97300 – (Housing Assistance Payments) Sub-