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HUD published PIH 25-20: Operating Fund Federal Financial Report (SF-425) Submission Process

This notice provides PHAs with instructions and submission deadlines for the required reporting on the status of Operating Subsidy for the Federal Financial Report, also known as the Standard Form 425. 
Special Attention of:
Public Housing Agencies
Public Housing Directors
Regional Public Housing Directors
Resident Management Corporations                                                                                      

 
                                                                                                     Notice PIH 2025-20

Issued: July 9, 2025

Expires: This notice remains in effect until amended, superseded, or rescinded. 

Cross References:
Notices: PIH 2020-23; 2017-24; 2019-13

Regulations: 24 CFR part 990; 24 CFR 990.110; 24 CFR 990.115;
24 CFR 905.108; 24 CFR part 906; 24 CFR 990.325; 2 CFR 200.1; 2 CFR 200.208; 2 CFR 200.313-314; 2 CFR 200.334; 2 CFR 200.339; 2 CFR 200.328; 2 CFR 200.307; 2 CFR 200.472(b);
2 CFR 200.344; 2 CFR 200.344(c); 2 CFR 200.344(e);
2 CFR 200.302(b)(3); 2 CFR 200.302(b)(4); 2 CFR 200.345; 24 CFR 990.285

tatutes: 42 U.S.C. 1437(g); 42 U.S.C.1437g(e); 42 U.S.C.1437g(d); 42 U.S.C. 1437g(k); 44 U.S.C. 3520; Public Law 106-107; Public Law 101-576; Public Law 118-14



  

SUBJECT: Operating Fund Federal Financial Report (SF-425) Submission Process 


I. APPLICABILITY
This notice applies to Operating Fund all Federal award program grantees. The SF-425 must be completed to capture disbursements, expenditures, and unliquidated obligations incurred at the recipient level, for the reporting period, on a cumulative basis for each award. This notice applies to all public housing agencies (PHAs) administering the Public Housing program, including PHAs participating in the Moving to Work (MTW) Demonstration program. 

2. PURPOSE
This notice provides PHAs with instructions and submission deadlines for the required reporting  on the status of Operating Subsidy for the Federal Financial Report (FFR), also known as the Standard Form 425 (SF-425). 

Click here to read full notice

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