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HUD/HUDSEC RIN: 2501-AC49 Publication ID: Spring 1998 
Title: ●Uniform Financial Reporting Standards for HUD Housing Programs (FR-4321) 
Abstract: This rule establishes for HUD's Public Housing, section 8 housing, and multifamily insured housing programs uniform financial reporting standards. The rule requires public housing authorities, project owners and managers of HUD-assisted housing to submit electronically to HUD, on an annual basis, certain financial information in a format prescribed by HUD. Electronic submission is necessary because the manual submission of HUD financial information has become a significant administrative burden to housing authorities, project owners and mortgagees, as well as to HUD. This rule also requires that the financial information to be submitted to HUD must be prepared in accordance with generally accepted accounting principles. The objective of this rule is to standardize the financial information submission process and, through standardization, bring consistency and fairness to the evaluation of the financial condition of the HUD housing. 
Agency: Department of Housing and Urban Development(HUD)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 5    24 CFR 207    24 CFR 266    24 CFR 880    24 CFR 891    24 CFR 965    24 CFR 990   
Legal Authority: 12 USC 1701 et seq    42 USC 1437 et seq    42 USC 3535(d)   
Timetable:
Action Date FR Cite
Interim Final Rule  06/00/1998    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Included in the Regulatory Plan: No 
Agency Contact: