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HUD/HUDSEC RIN: 2501-AC49 Publication ID: Fall 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: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 5    24 CFR 200    24 CFR 236    24 CFR 266    24 CFR 880    24 CFR 886    24 CFR 982   
Legal Authority: 12 USC 1701 et seq    42 USC 1437 et seq    42 USC 3535(d)   
Timetable:
Action Date FR Cite
NPRM  06/30/1998  63 FR 35662   
NPRM Comment Period End  08/13/1998  63 FR 41754   
Final Action  09/01/1998  63 FR 46582   
Final Action Effective  10/01/1998    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Included in the Regulatory Plan: No 
Agency Contact:
Jeffrey Riddel
Director, Capital Program Division
Department of Housing and Urban Development
Office of Public and Indian Housing
451 7th Street SW.,
Washington, DC 20410
Phone:202 402-7378