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HUD Publishes PIH Notice: 24-02 - Shortfall Grant SF-425 Reporting Requirements

This notice provides clarification, additional information, or correct information to public housing agencies (PHAs) regarding the reporting requirements related to the Federal Financial Report (FFR), also known as the Standard Form (SF-425). 
 
Special Attention of:
Public Housing Agencies
Public Housing Hub Directors
Public Housing Program Center Directors
Regional and Field Office Directors                   
Resident Management Corporations                                                                                                                                                                        

 
                                                                                                                                            Notice 2024-02pihn

Issued: January 5, 2024
This notice remains in effect until amended, superseded, or rescinded. This notice amends Notice PIH-2020-16 and PIH-2021-12.

Cross References:
Notices: PIH-2020-16, PIH-2021-12, PIH-2022-17, PIH-2023-18

Regulations: 24 CFR Part 990; 2 CFR 200.328; 2 CFR 200.334(b)

Statutes: 42 U.S.C.1437g(e); 44 U.S.C.3520; Public Law 106-107 



  

SUBJECT: Shortfall Grant SF-425 Reporting Requirements

I. PURPOSE

This notice provides clarification, additional information, or correct information to public housing agencies (PHAs) regarding the reporting requirements related to the Federal Financial Report (FFR), also known as the Standard Form (SF-425).

II. APPLICABILITY

This notice applies to all federal award program grantees of Shortfall Funding during FY 2020 through FY 2023. The SF-425 must be completed to capture disbursements, expenditures, obligations, and unliquidated obligations. PHAs can receive up to three grants, but a minimum of two grants of the Shortfall Funding. For example, Tier 1 would fund PHAs to raise their Months of Reserves (MOR) to zero. Tier 2 would support the amount needed to raise a PHA's MOR. Tier 2 funding is provided in two separate grants, known as Increment 1 and Increment 2. The PHA must submit a Federal Financial Report (FFR) SF-425 for each grant. The SF-425 must be submitted via HUD's Public Housing (PH) Portal.

Click here to read full notice

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