Financial Assessement of Public Housing Agencies

Financial Assessment of Public Housing Agencies (FASS PHA)

3,300 Public Housing Agencies exist in the United States. In order to assess the financial condition of these agencies, REAC reviews each agency's financial information annually.

Highlights

Revisions to the Financial Data Schedule (FDS) Line Definition Guide – Updated May 2012

The FDS Line Definition Guide has been updated to reflect the issuance of GASB #54 and to provide additional information, examples, and clarification for specific FDS line definitions. The Guide is effective for PHAs with Fiscal Year End of June 2008 and later. This Guide supersedes the FDS Line Definition Guide that was issued November 2008.
GASB #54 Fund Balance Reporting Instructions: The Governmental Accounting Standards Board issued a new standard “Fund Balance Reporting and Governmental Fund Type Definitions” (GASB #54). This standard is effective for PHAs reporting financial statements for the period beginning after June 15, 2010. From a FASS-PH Financial Data Schedule reporting perspective, GASB #54 will only affect Section 8 Only agencies that report using modified accrual. As a result of current information technology constraints, the FDS is unable to accommodate the latest GASB #54 requirements. Until the FDS is updated to include the latest GASB #54 equity line items, PHAs that are submitting under the new GASB #54 requirements are required to submit the GASB #54 line item balances via an Excel spreadsheet. Click the following hyper link for the, GASB #54 Supplementary Reporting Schedule.
REVISED HUD-VETERANS AFFAIRS SUPPORTIVE HOUSING (HUD-VASH) PROGRAM AND FINANCIAL DATA SCHEDULE (FDS) REPORTING: This document updates HUD’s instructions to PHAs regarding Financial Data Schedule (FDS) reporting of the VASH program as a result of language contained in the 2011 Appropriations Act and the conforming change in funding for the VASH program that occurred for most PHAs beginning with the July 1, 2011 renewal. This document is effective for PHAs with a fiscal year end of June 30, 2011 and later. However, PHAs with a March 31, 2011 fiscal year end reporting period are also encouraged to implement these new reporting instructions.
REVISIONS TO THE FINANCIAL INDICATOR METHODOLOGY & ANALYSIS GUIDE: This document is updated to reflect the assessment and scoring methodology for the three Financial Condition sub-indicators under the Interim Public Housing Assessment Subsystem (PHAS) Rule issued on February 23, 2011. The Interim PHAS Rule is effective for PHAs with fiscal year ending March 31, 2011 and later.
NOTICE TO SECTION 8 ONLY HOUSING AGENCIES/EMAIL SENT IN ERROR - On May 1, 2011, the REAC forwarded an erroneous email to Section 8 Only Housing Agencies that had already submitted their unaudited/audited financial submissions. This email sent to housing agencies with fiscal years ending June 30, 2010, September 30, 2010 and December 31, 2010, informed the housing agency that it failed to submit its unaudited/audited submission and would receive a Failure to Submit (FTS) indicator. Please disregard this email. We apologize for any inconvenience this may have caused you.
NOTICE: Currently there is an issue with viewing and printing any FASS-PH report using the excel report option. We are performing analysis to identify the root cause. Once it is identified a corrective plan will be implemented and you will be notified when the excel report option becomes available.

As an alternative, please use the PDF report option to view and print the FASS-PH reports while we work on resolving the excel report issue.

We are sorry for any inconveniences this may cause.
NOTICE TO FINANCIAL ASSESSMENT SUBSYSTEM - PUBLIC HOUSING (FASS-PH) SYSTEM USERS

The Real Estate Assessment Center (REAC) is in the process upgrading the Financial Assessment Subsystem-Public Housing (FASS-PH) on-line system. Accordingly, the FASS-PH on-line system will be unavailable as a result of system maintenance beginning 8 pm EDT on Friday, September 24, 2010, until 7am EDT Thursday, September 30, 2010. During this system maintenance time, the FASS-PH on-line application will not be available for any type of submission work. The revised due date for financial submissions that are due on September 30, 2010, is now October 8, 2010. Please be aware that this FASS-PH audited submission extension does not apply to Circular A-133 submissions to the Federal Audit Clearinghouse. If an extension of time is needed to submit your Single Audit, please contact the cognizant agency or HUD's National Single Audit Coordinator. We apologize in advance for any inconvenience our scheduled maintenance may have caused.
Asset Management Transition Year 2 information notice published in federal register January 12, 2010
PHA Due Dates for Transition Year 2
Special Instructions for Preparing Financial Data Schedules for Moving to Work Agencies
Power Point Presentation Detailing the Financial Submission Process for the Financial Assessment Subsystem
Financial Data Schedule (FDS) Submission and Navigation Tips for The September 2009 System Release
Information Regarding The September 2009 System Release And The Impact On Public Housing Agency (PHA) Annual Financial Submissions
Recovery Act Programs and Financial Data Schedule (FDS) Reporting: PHAs receiving Recovery Act funds under separate Catalog of Federal Domestic Assistance (CFDA) numbers should report program revenue and expenses separately on the FDS. More...
Disaster Housing Assistance Program for Hurricane Ike (DHAP-Ike) Financial Data Schedule (FDS) Reporting: PHAs participating in DHAP- IKE should report program activities separately on the FDS. More...
Revised SAS 29 Audited Submission Procedure For Public Housing Agencies With Fiscal Year End Of June 30, 2008.
Revisions To The Financial Data Schedule (FDS) Line Definition Guide - As a result of implementation of asset management, additional line items and detail links have been added to the Financial Data Schedule (FDS) for PHAs with fiscal year ending June 30, 2008 and later. Click Here to retrieve the revised Financial Data Schedule Line Definition Guide.
HUD-VETERANS AFFAIRS SUPPORTIVE HOUSING (HUD-VASH) PROGRAM AND FINANCIAL DATA SCHEDULE (FDS) REPORTING: PHAs participating in HUD-VASH should report program revenue and expenses separately on the FDS. More...
Disaster Housing Assistance Program (DHAP) Financial Data Schedule (FDS) Reporting: PHAs participating in DHAP should report program revenue and expenses under CFDA no. 97.109. More...
June 2007 System Release and Financial Data Schedule Changes: As a result of the new program office requirements, Financial Data Schedule (FDS) input for specific FDS Line items will change for PHAs with fiscal years ending June 30, 2007 and later. More...
Revisions to the Financial Indicator Methodology & Analysis Guide. - As a result of revisions to the Expense Management/Utility Consumption scoring thresholds and final implementation of Government Accounting Standards Board (GASB) Statement number 34, modifications have been included to the Financial Indicator Methodology and Analysis Guide for PHAs with fiscal year ending September 30, 2006 and later. The revised Financial Indicator Methodology and Analysis Guide..
September 2006 System Release and Financial Data Schedule Changes. As a result of the new program office requirements, Financial Data Schedule (FDS) input for specific FDS Line items will change for PHAs with fiscal year ending September 30, 2006 and later. More...
Revisions to the Financial Data Schedule (FDS) Line Definition and Crosswalk Guide.??As a result of new program requirements, additional line items and detail links have been added to the Financial Data Schedule (FDS) for PHAs with fiscal year ending September 30, 2006 and later. Click??More to retrieve the revised Financial Data Schedule Line Definition and Crosswalk Guide. More...
Financial Data Schedule submission requirements for Federal Register Notice "Implementation guidance for section 901 of the Emergency Supplemental Appropriation to address hurricanes in the Gulf of Mexico, and Pandemic Influenza Act, 2006? dated July 28, 2006 As a result of the requirements contained in Federal Register Notice FR-5067-N-01, Financial Data Schedule (FDS) reporting will be affected. More...
DISPLAY OF FINANCIAL ASSESSMENT SUBSYSTEM - PUBLIC HOUSING (FASS-PH) AND PUBLIC HOUSING ASSESSMENT SYSTEM (PHAS) SCORES ON HUD?S SECURE SYSTEMS. What are the display differences of HUD?s Secure Systems for PHA users and coordinators (External PHA users) and HUD Field Office staff (Internal HUD users). More...

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