[Appendix]
[Detailed Budget Estimates by Agency]
[Department of Housing and Urban Development]
[From the U.S. Government Publishing Office, www.gpo.gov]
[[Page 505]]
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
This chapter presents the budget and program estimates of the
Department of Housing and Urban Development (HUD).
For the past 3 years, the Department has been engaged in a
reinvention process which has emphasized: addressing homelessness
through a comprehensive continuum of care strategies; transforming
public and assisted housing; enhancing homeownership opportunities
through new national and local partnerships; and, encouraging locally-
driven solutions and leveraging private sector investment through
initiatives like consolidated planning, Empowerment Zones and Enterprise
Communities.
This budget proposes to continue this reinvention process as
follows:
1. HUD's new programs would give communities more power over Federal
programs by consolidating over 20 programs into three core funds. These
funds would provide enhanced flexibility in return for results by
rewarding high performers through the use of incentives, or ``bonus
funding.''
2. HUD proposes to transform the dynamic of public and assisted
housing through a policy of no tolerance of crime and mismanagement. The
worst housing projects will be torn down and replaced with portable
rental assistance and/or lower-density townhome-style developments which
can serve as an anchor for neighborhood renewal. Rules will be changed
to promote self-sufficiency and responsibility, and to reward people who
work.
3. This proposal will ensure that homeownership is accessible to
record numbers of people by revamping the Federal Housing Administration
(FHA) and helping those in assisted housing buy their own homes.
4. HUD's FY 1997 reinvention blueprint will transform the Department
into a ``right side up, community first'' organization. This will be
accomplished through the creation of single points of contact for all
major localities to cut red tape, the relocation of Federal personnel to
communities, and aggressive training of HUD staff and its partners.
HUD is proposing three performance-based funds which will
consolidate a myriad of programs and give localities and States the
resources and flexibility needed to address community development,
affordable housing, and homelessness. These ``consolidated'' funds will
be: the Community Development Block Grants (CDBG) Fund, the HOME Fund
and the Homeless Assistance Fund.
The Community Development Block Grants Fund will continue
to use a formula approach for allocating funds for a wide range of
activities. However, Consolidated Plans developed by States and
communities will be based on performance measures and benchmarks linked
to their needs and priorities. Included within the total amount
requested for 1997 is a performance bonus pool and a set-aside for
Empowerment Zones.
The HOME Fund will also utilize performance measures and
benchmarks based on local needs and priorities. A 10-percent bonus pool
will be made available to create large tracts of homeownership in
communities.
The Homeless Assistance Fund proposes to consolidate the
six Stewart B. McKinney Homeless Assistance Act programs into a
comprehensive, flexible, coordinated ``continuum of care'' approach to
solving the needs of the homeless. A competitive 10-percent bonus pool
will be set aside under this fund to address the needs of homeless
persons with multiple diagnoses and fund innovative homeless solutions.
The Department is reproposing to consolidate several categorical
housing programs within three performance funds.
The Public Housing Operating Fund would fund the operating
costs of Public and Indian Housing. Through this fund Public Housing
Agencies will have greater flexibility in attracting and retaining a
broader range of families.
The Public Housing Capital Fund would address the capital
cost needs of Public and Indian Housing. Based on the Modernization
program, this Fund will permit the upgrading of inventory, demolition
and replacement of obsolete buildings. Funds also will be available to
expand linkages between public housing, local schools and other
educational institutions. In addition, $500 million of these funds will
be set aside for a competitive bonus pool.
The Housing Certificate Fund would address the problems
arising from lagging household income and high housing costs. The Fund
would be based on the existing voucher and certificate programs with
changes to make the system simpler and more effective.
Other Housing Programs. Funding for Section 8 contract
renewals and amendments is included within the Annual Contributions for
Assisted Housing account. Lead-paint hazard reduction activities will
continue to be funded within the Annual Contributions account but will
remain a free-standing program through 1997. Several other programs
assisting communities will remain as free-standing activities: housing
opportunities for persons with AIDS, housing assistance for the elderly
and disabled, drug elimination activities, and assistance for severely
distressed public housing. Further program consolidation will be
proposed for 1998.
A major initiative reflected in the budget estimates is ``Portfolio
Reengineering,'' formerly known as ``Mark-to-Market.'' This plan would
reduce over-subsidized Section 8 contracts and FHA-insured debt on
properties. The goal of the initiative is to leave all responsible
owners with the ability to sustain the remaining mortgage through the
payment of market-derived rents by tenants.
PUBLIC AND INDIAN HOUSING
Federal Funds
General and special funds:
Housing Certificate Fund
For assistance under the section 8 existing housing certificate
program (42 U.S.C. 1437f) and the housing voucher program under section
8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)), as
amended, $290,000,000, to remain available until expended: Provided,
That the Secretary may transfer and merge with the foregoing amount, up
to $100,000,000 of amounts earmarked for the renewal of expiring section
8 contracts in the Annual Contributions for Assisted Housing account,
upon determining that the amount to be transferred is excess to the
purposes for which it is earmarked.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0302-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 150
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 290
23.95 New obligations................... -150
24.40 Unobligated balance available, end
of year: Uninvested balance..... 140
----------------------------------------------------------------------------
[[Page 506]]
New budget authority (gross), detail:
40.00 Appropriation..................... 290
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 150
73.20 Total outlays (gross)............. -29
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 121
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 29
--------- --------- ----------
87.00 Total outlays (gross)........... 29
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 290
90.00 Outlays........................... 29
---------------------------------------------------------------------------
The Administration proposes to consolidate a variety of rental
assistance programs into one Housing Certificate Fund. In addition to
traditional incremental assistance, this account would provide
incremental certificates for a demonstration linking housing assistance
to State welfare reform initiatives to help families make the transition
from welfare to work. In addition, certificates would be used to prevent
tenant displacement in prepayments related to preservation activities,
property disposition, and other activities. Certificates would provide
recipients with subsidies to help them afford rental housing in the
private housing market.
Public Housing Capital Fund
(including transfers of funds)
For the Public Housing Capital Fund program under the United States
Housing Act of 1937, as amended (42 U.S.C. 1437), $2,700,000,000, to
remain available until expended, of which $2,447,000,000 shall be for
modernization of existing public housing projects; $200,000,000 for
Indian Housing Development; up to $53,000,000 for grants to public
housing agencies (including Indian housing authorities), nonprofit
corporations, and other appropriate entities for a supportive services
program to assist residents of public and assisted housing, former
residents of such housing receiving tenant-based assistance under
section 8 of such Act, and other low-income families and individuals,
principally for the benefit of public housing residents, to become self-
sufficient; up to $20,000,000 for technical assistance for the
inspection of public housing units, contract expertise, and training and
technical assistance directly or indirectly, under grants, contracts, or
cooperative agreements, to assist in the oversight and management of
public and Indian housing (whether or not the housing is being
modernized with assistance under this proviso) or tenant-based
assistance, including, but not limited to, an annual resident survey,
data collection and analysis, training and technical assistance by or to
officials and employees of the department and of public housing agencies
and to residents in connection with the public and Indian housing
program; $15,000,000 for the Tenant Opportunity Program; and $5,000,000
for the Jobs-Plus Demonstration for Public Housing families: Provided,
That all obligated and unobligated balances as of the end of fiscal year
1996 heretofore provided for the development or acquisition costs of
public housing (including public housing for Indian families), for
modernization of existing public housing projects (including such
projects for Indian families), for public and Indian housing amendments,
for modernization and development technical assistance, for lease
adjustments for the section 23 program, and for the Family Investment
Centers program shall be transferred to amounts made available under
this heading.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0304-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 495
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 2,700
22.20 Unobligated balance transferred... 1,750
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 4,450
23.95 New obligations................... -495
24.40 Unobligated balance available, end
of year: Uninvested balance..... 3,955
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 2,700
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 495
73.20 Total outlays (gross)............. -4,276
73.30 Obligated balance transferred, net 18,774
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 14,993
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 13
86.93 Outlays from current balances..... 4,263
--------- --------- ----------
87.00 Total outlays (gross)........... 4,276
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 2,700
90.00 Outlays........................... 4,276
---------------------------------------------------------------------------
Summary of Budget Authority and Outlays
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Enacted/requested:
Budget Authority.................. 2,700
Outlays........................... 4,276
Legislative proposal, not subject to
PAYGO:
Budget Authority.................. 500
Outlays...........................
------------------------------------
Total:
Budget Authority.................. 3,200
Outlays........................... 4,276
====================================
The Administration proposes to consolidate all current public
housing capital programs into a single Public Housing Capital Fund
program. Activities consolidated into this account include: technical
assistance, Public Housing Modernization, Public and Indian Housing
Development, public and Indian housing amendments, lease adjustments,
and Family Investment Centers. This program would provide Federal
resources to rehabilitate and restore viable public housing in need of
modernization, demolish uninhabitable and non-viable public housing
projects, and construct replacement housing where feasible. In addition,
funding would be provided for technical assistance and evaluation of the
Jobs-Plus Demonstration for Public Housing families.
Public Housing Capital Fund Bonus Program
(Legislative proposal, not subject to PAYGO)
For grants and related expenses, not otherwise provided for,
necessary for carrying out a Public Housing Capital Fund bonus program,
$500,000,000 to remain available until expended. (Additional authorizing
language required).
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0304-2-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 500
24.40 Unobligated balance available, end
of year: Uninvested balance..... 500
----------------------------------------------------------------------------
[[Page 507]]
New budget authority (gross), detail:
40.00 Appropriation..................... 500
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations...................
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total outlays (gross).............
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 500
90.00 Outlays...........................
---------------------------------------------------------------------------
The Public Housing Capital Fund Bonus Program would be available on
a formula basis to high-performing Public Housing Agencies (PHAs) that
also initiate Campus of Learners programs or other substantial efforts
to link public housing residents with educational and employment
opportunities. The PHAs would be able to use bonus funds for all
purposes eligible under the Capital Fund.
[Payments for Operation of Low-Income Housing Projects] Public Housing
Operating Fund
For payments to public housing agencies and Indian housing
authorities for operating subsidies for low-income housing projects as
authorized by section 9 of the United States Housing Act of 1937, as
amended (42 U.S.C. 1437g), $2,900,000,000.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0163-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Operating subsidies............... 2,900 2,800 2,900
--------- --------- ----------
10.00 Total obligations (object class
41.0)......................... 2,900 2,800 2,900
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 2,900 2,800 2,900
23.95 New obligations................... -2,900 -2,800 -2,900
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 2,900 2,800 2,900
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 1,373 1,506 1,480
73.10 New obligations................... 2,900 2,800 2,900
73.20 Total outlays (gross)............. -2,762 -2,826 -2,842
73.40 Adjustments in expired accounts... -4
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 1,506 1,480 1,538
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 1,393 1,344 1,392
86.93 Outlays from current balances..... 1,369 1,482 1,451
--------- --------- ----------
87.00 Total outlays (gross)........... 2,762 2,826 2,842
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 2,900 2,800 2,900
90.00 Outlays........................... 2,762 2,826 2,842
---------------------------------------------------------------------------
Summary of Budget Authority and Outlays
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Enacted/requested:
Budget Authority.................. 2,900 2,800 2,900
Outlays........................... 2,762 2,826 2,843
Adjustment to 1996 continuing
resolution levels:
Budget Authority.................. 100
Outlays........................... 48 51
------------------------------------
Total:
Budget Authority.................. 2,900 2,900 2,900
Outlays........................... 2,762 2,874 2,894
====================================
Operating subsidy payments are provided to assist local PHAs and
Indian Housing Authorities (IHAs) to meet certain deficits in the
operation of PHA-owned and IHA-owned low-income housing. These payments
are in addition to the debt service and capital funding provided by HUD
for development and modernization of low-income housing.
Beginning in fiscal year 1997, funding for these activities would be
provided under the Public and Indian Housing Operating Fund.
Drug Elimination Grants for Low-Income Housing
For grants to public housing agencies for use in eliminating drug-
related crime in public housing projects authorized by 42 U.S.C. 11901-
11908, and for drug information clearinghouse services authorized by 42
U.S.C. 11921-11925, $290,000,000, to remain available until expended, of
which $10,000,000 shall be for grants, technical assistance, contracts
and other assistance training, program assessment, and execution for or
on behalf of public housing agencies and resident organizations
(including the cost of necessary travel for participants in such
training), and $10,000,000 shall be used in connection with efforts to
combat violent crime in public and assisted housing under the Operation
Safe Home program administered by the Inspector General of the
Department of Housing and Urban Development: Provided, That the term
``drug-related crime'', as defined in 42 U.S.C. 11905(2), shall also
include other types of crime as determined by the Secretary.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0197-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 525 310 290
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 255 20
22.00 New budget authority (gross)...... 290 290 290
22.10 Resources available from
recoveries of prior year
obligations..................... 1
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 546 310 290
23.95 New obligations................... -525 -310 -290
24.40 Unobligated balance available, end
of year: Uninvested balance..... 20
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 290 290 290
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 186 532 662
73.10 New obligations................... 525 310 290
73.20 Total outlays (gross)............. -179 -180 -308
73.45 Adjustments in unexpired accounts. -1
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 532 662 644
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 178 180 308
--------- --------- ----------
87.00 Total outlays (gross)........... 179 180 308
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 290 290 290
90.00 Outlays........................... 178 180 308
---------------------------------------------------------------------------
The table below shows the funding requested for drug-related and
crime prevention activities for the period 1995-1997.
The $290 million requested for this program in 1997 includes funding
for technical assistance for drug elimination and operation safe home
activities.
[[Page 508]]
Summary of Program Activity (in millions of dollars)
----------------------------------------------------------------------------
1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budget Authority:
Drug elimination grants............... 290 290 290
--------- --------- ----------
Outlays:
Drug Elimination Grants............. 178 262 308
---------------------------------------------------------------------------
Violent Crime Reduction Programs
For activities authorized by subtitle J, Title III of Public Law
103-322 (including administrative costs), $3,000,000, to remain
available until expended, which shall be derived from the Violent Crime
Reduction Trust Fund and shall be transferred to the Bureau of the
Census to develop or update statistical data required by the Local
Partnership Act to develop formulae necessary for the future
distribution of funds appropriated under such Act.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-8192-0-1-754 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Local Partnership Act............. 3
--------- --------- ----------
10.00 Total obligations (object class
25.1)......................... 3
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 3
23.95 New obligations................... -3
----------------------------------------------------------------------------
New budget authority (gross), detail:
42.00 Transferred from other accounts... 3
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 3
73.20 Total outlays (gross)............. -3
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 3
--------- --------- ----------
87.00 Total outlays (gross)........... 3
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 3
90.00 Outlays........................... 3
---------------------------------------------------------------------------
Amounts for Public and Indian Housing's portion of the Crime Control
Programs are derived from transfers from the Violent Crime Reduction
Trust Fund as authorized by the Crime Control and Law Enforcement Act of
1994. These funds are provided to pay for census surveys required in
development of formulae needed to distribute funds to units of local
governments.
Revitalization of Severely Distressed Public Housing (Hope VII)
For grants to public housing agencies for assisting in the
demolition of obsolete public housing projects or portions thereof, the
revitalization (where appropriate) of sites (including remaining public
housing units) on which such projects are located, replacement housing
which will avoid or lessen concentrations of very low-income families,
and tenant-based assistance in accordance with section 8 of the United
States Housing Act of 1937; and for providing replacement housing and
assisting tenants to be displaced by the demolition, $650,000,000, to
remain available until expended, which the Secretary may use up to .67
percent for technical assistance, to be provided directly or indirectly
by grants, contracts or cooperative agreements, including training and
cost of necessary travel for participants in such training, by or to
officials and employees of the Department and of public housing agencies
and to residents. (Authorizing legislation to be proposed.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0218-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 883 218 456
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
21.40 Uninvested balance.............. 23 9
21.49 Contract authority.............. 476 107 178
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 499 116 178
22.00 New budget authority (gross)...... 500 280 650
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 999 396 828
23.95 New obligations................... -883 -218 -456
Unobligated balance available, end of year:
24.40 Uninvested balance.............. 9
24.49 Contract authority.............. 107 178 373
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 116 178 373
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 500 280 650
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 578 1,430 1,520
73.10 New obligations................... 883 218 456
73.20 Total outlays (gross)............. -31 -128 -283
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 1,430 1,520 1,692
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 31 128 283
--------- --------- ----------
87.00 Total outlays (gross)........... 31 128 283
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 500 280 650
90.00 Outlays........................... 31 128 283
---------------------------------------------------------------------------
Summary of Budget Authority and Outlays
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Enacted/requested:
Budget Authority.................. 500 280 650
Outlays........................... 31 128 283
Adjustment to 1996 continuing
resolution levels:
Budget Authority.................. 220
Outlays...........................
------------------------------------
Total:
Budget Authority.................. 500 500 650
Outlays........................... 31 128 283
====================================
This program provides Federal resources to rehabilitate and restore
severely distressed public housing projects, thereby expanding the
supply of decent, safe, and affordable housing for low-income renters.
Funds provided to this program are in addition to the substantial
resources provided for the public housing modernization program and are
specifically targeted to the units in most need of attention.
Public enterprise funds:
Low-Rent Public Housing--Loans and Other Expenses
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4098-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Capital investment: Loans to
public housing agencies and
Indian housing authorities...... 54 50 50
--------- --------- ----------
10.00 Total obligations (object class
33.0)......................... 54 50 50
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 20 6 6
[[Page 509]]
22.00 New budget authority (gross)...... 98 112 115
22.60 Redemption of debt................ -58 -62 -65
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 60 56 56
23.95 New obligations................... -54 -50 -50
24.40 Unobligated balance available, end
of year: Uninvested balance..... 6 6 6
----------------------------------------------------------------------------
New budget authority (gross), detail:
67.15 Authority to borrow (indefinite).. 20 50 50
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 78 62 65
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 98 112 115
----------------------------------------------------------------------------
Change in unpaid obligations:
Unpaid obligations, start of year:
Obligated balance:
72.40 Appropriation................. 1,403 1,287 1,175
72.90 Fund balance.................. 1 1 1
--------- --------- ----------
72.99 Total unpaid obligations,
start of year............... 1,404 1,288 1,176
73.10 New obligations................... 54 50 50
73.20 Total outlays (gross)............. -169 -162 -165
Unpaid obligations, end of year:
Obligated balance:
74.40 Appropriation................. 1,287 1,175 1,060
74.90 Fund balance.................. 1 1 1
--------- --------- ----------
74.99 Total unpaid obligations, end
of year..................... 1,288 1,176 1,061
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 54 62 65
86.98 Outlays from permanent balances... 115 100 100
--------- --------- ----------
87.00 Total outlays (gross)........... 169 162 165
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.00 Federal sources............... -58 -62 -65
88.40 Non-Federal sources........... -20
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -78 -62 -65
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 20 50 50
90.00 Outlays........................... 92 100 100
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4098-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 1,747 1,689 1,627
1251 Repayments: Repayments and
prepayments..................... -58 -62 -65
--------- --------- ----------
1290 Outstanding, end of year........ 1,689 1,627 1,562
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4098-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 4,413 4,132 3,832
2251 Repayments and prepayments........ -281 -300 -325
--------- --------- ----------
2290 Outstanding, end of year........ 4,132 3,832 3,507
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 4,132 3,832 3,507
---------------------------------------------------------------------------
The Low-Rent Public Housing Loan Fund is used to provide direct
Federal loans to fund remaining Public Housing Agency and Indian Housing
Authority construction, acquisition, and modernization activities
reserved under the Annual Contributions appropriation through 1986.
These loans are made from available resources of this fund and from
borrowings from the Treasury. Under legislation enacted during 1986
(Public Law 99-272), the borrowings from the Treasury are forgiven at
the end of each fiscal year and the loans to PHAs/IHAs are forgiven as
construction, acquisition, and modernization activities are completed.
Under the provisions of this legislation, $54 million of borrowings from
the Treasury were forgiven in 1995, an estimated $50 million will be
borrowed from the Treasury and forgiven in 1996, and an estimated $50
million will be borrowed from the Treasury and forgiven in 1997. The
table below shows the status of outstanding loans for the period 1995-
1997. The $64 million balance at the end of each year represents
administrative loans, off-site facility loans, and preliminary loans on
projects never undertaken and excess financing.
PUBLIC HOUSING AGENCIES/INDIAN HOUSING AUTHORITIES
Loans Outstanding
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Outstanding, start of year.......... 68 64 64
Direct loan disbursements........... 54 50 50
Repayments.......................... -26
Adjustments......................... 25
Total loans forgiven................ -57 -50 -50
------------------------------------
Outstanding, end of year............ 64 64 64
====================================
Since 1987, new reservations of capital funds for construction,
acquisition, and modernization activities have been provided directly
from the Annual Contributions appropriation.
Operating results.--The actual and estimated net operating income
for 1994, 1995, 1996, and 1997 follows:
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4098-0-3-604 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 119 116 113 110
0102 Expense........................... -139 -131 -123 -115
------------ -------------- ------------ -------------
0109 Net income or loss (-)............ -19 -15 -10 -5
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4098-0-3-604 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 1,424 1,294 1,164 1,034
Investments in US securities:
1106 Receivables, net.............. 1,852 1,791 1,730 1,669
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 68 64 64 64
1602 Interest receivable............. 3 6 6 6
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -12 -12 -12 -12
1604 Direct loans and interest
receivable, net............... 59 58 58 58
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 59 58 58 58
------------ -------------- ------------ -------------
1999 Total assets.................... 3,335 3,143 2,952 2,761
LIABILITIES:
Federal liabilities:
2102 Interest payable................ 212 205 205 205
2104 Resources payable to Treasury... 1,746 1,688 1,627 1,567
2207 Non-Federal liabilities: Other.... 1 1 1 1
------------ -------------- ------------ -------------
2999 Total liabilities............... 1,959 1,894 1,833 1,773
NET POSITION:
3100 Appropriated capital.............. 1,297 1,184 1,054 923
3300 Cumulative results of operations.. 79 65 65 65
------------ -------------- ------------ -------------
3999 Total net position.............. 1,376 1,249 1,119 988
------------ -------------- ------------ -------------
4999 Total liabilities and net position 3,335 3,143 2,952 2,761
-----------------------------------------------------------------------------------------------
[[Page 510]]
Credit accounts:
Indian Housing Loan Guarantee Fund Program Account
For the cost of guaranteed loans, as authorized by section 184 of
the Housing and Community Development Act of 1992 (106 Stat. 3739)
$3,000,000: Provided, That such costs, including the costs of modifying
such loans, shall be as defined in section 502 of the Congressional
Budget Act of 1974, as amended: Provided further, That these funds are
available to subsidize total loan principal, any part of which is to be
guaranteed, not to exceed $36,900,000.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0223-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 3 3 3
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 3 3 3
23.95 New obligations................... -3 -3 -3
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 3 3 3
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 3 4
73.10 New obligations................... 3 3 3
73.20 Total outlays (gross)............. -2 -3
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 3 4 4
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 2 2
86.93 Outlays from current balances..... 1
--------- --------- ----------
87.00 Total outlays (gross)........... 2 3
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 3 3 3
90.00 Outlays........................... 2 3
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0223-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Guaranteed loan levels supportable by subsidy
budget authority:
2159 Total loan guarantee levels....... 22 37 37
Guaranteed loan subsidy (in percent):
2320 Subsidy rate...................... 13.40 8.13 8.13
Guaranteed loan subsidy budget authority:
2330 Subsidy budget authority.......... 3 3 3
Guaranteed loan subsidy outlays:
2340 Subsidy outlays................... 1 2
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, this account
records, for this program, the subsidy costs associated with the loan
guarantees committed in 1994 and beyond (including modifications of
guarantees that resulted from obligations in any year). The subsidy
amounts are estimated on a present value basis. This program provides
access to sources of private financing for Indian families and Indian
housing authorities which otherwise could not acquire housing financing
because of the unique legal status of Indian trust land.
Indian Housing Loan Guarantee Fund Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4104-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations................. 1
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.90 Unobligated balance available,
start of year: Fund balance..... 2
22.00 New financing authority (gross)... 2 3
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 2 5
23.95 New obligations................... -1
24.90 Unobligated balance available, end
of year: Fund balance........... 2 5
----------------------------------------------------------------------------
New financing authority (gross), detail:
Spending authority from offsetting
collections:
68.00 Spending authority from
offsetting collections,
Federal sources............... 2 3
68.10 Change in receivables from
program account...............
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total)..................... 2 3
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 2 3
----------------------------------------------------------------------------
Change in unpaid obligations:
Unpaid obligations, start of year:
72.90 Obligated balance: Fund Balance. 3 3
72.95 Receivables from program account 3 3 3
--------- --------- ----------
72.99 Total unpaid obligations,
start of year............... 3 6 6
73.10 New obligations................... 1
73.20 Total financing disbursements
(gross)......................... 3
Unpaid obligations, end of year:
74.90 Obligated balance: Fund balance. 3 3 3
74.95 Receivables from program account 3 3 3
--------- --------- ----------
74.99 Total unpaid obligations, end
of year..................... 6 6 6
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total financing disbursements
(gross)......................... -3
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
88.00 Offsetting collections (cash)
from: Federal sources:
Payments from program account. 3 -2 -3
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 3
90.00 Financing disbursements........... -2 -3
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4104-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on commitments:
2111 Limitation on guaranteed loans
made by private lenders......... 22 37 37
--------- --------- ----------
2199 Guaranteed amount of guaranteed
loan commitments................ 22 37 37
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 28
2231 Disbursements of new guaranteed
loans........................... 28 33
--------- --------- ----------
2290 Outstanding, end of year........ 28 61
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 28 61
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, this
nonbudgetary account records all cash flows to and from the Government
resulting from the loan guarantees committed in 1994 and beyond
(including modifications of loan guar
[[Page 511]]
antees that resulted from obligations in any year). The amounts in this
account are a means of financing and not included in the budget totals.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4104-0-3-604 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 2 5
Investments in US securities:
1106 Receivables, net.............. 1 1
------------ -------------- ------------ -------------
1999 Total assets.................... 3 6
LIABILITIES:
2204 Non-Federal liabilities:
Liabilities for loan guarantees. 1 1
------------ -------------- ------------ -------------
2999 Total liabilities............... 1 1
NET POSITION:
3100 Appropriated capital.............. 2 5
------------ -------------- ------------ -------------
3999 Total net position.............. 2 5
------------ -------------- ------------ -------------
4999 Total liabilities and net position 3 6
-----------------------------------------------------------------------------------------------
COMMUNITY PLANNING AND DEVELOPMENT
Federal Funds
General and special funds:
Housing Opportunities for Persons with AIDS
For carrying out the Housing Opportunities for Persons with AIDS
program, as authorized by the AIDS Housing Opportunity Act (42 U.S.C.
12901), $171,000,000, to remain available until expended: Provided, That
any amounts previously appropriated for such program, and any related
assets and liabilities, in the ``Annual Contributions for Assisted
Housing'' account, shall be transferred to and merged with amounts in
this account.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0308-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 171
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 171
23.95 New obligations................... -171
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 171
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 171
73.20 Total outlays (gross)............. -138
73.30 Obligated balance transferred, net 417
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 449
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 3
86.93 Outlays from current balances..... 135
--------- --------- ----------
87.00 Total outlays (gross)........... 138
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 171
90.00 Outlays........................... 138
---------------------------------------------------------------------------
The Administration proposes to establish a Housing Opportunities for
Persons with AIDS program as a separate account in 1997. All of the
balances from prior appropriations for this program would be merged with
the new appropriations. The program would resemble the program which is
already in existence. The purpose of the program is to provide States
and localities with resources and incentives to devise long-term
comprehensive strategies for meeting the housing needs of persons with
AIDS and their families.
States and metropolitan areas receive 90 percent of the funds by
formula based on the incidence of AIDS in their jurisdictions. The
remaining 10 percent is awarded competitively to States, local
governments, and private nonprofit entities for projects of national
significance. Awards are also made to States and local governments for
projects in jurisdictions which do not qualify for a formula allocation.
Community Development Block Grants Fund
For grants to States and units of general local government and for
related expenses, not otherwise provided for, to carry out a community
development grants program as authorized by title I of the Housing and
Community Development Act of 1974, as amended (the HCD Act) (42 U.S.C.
5301), $4,600,000,000, to remain available until September 30, 1999, of
which $69,000,000 shall be for grants to Indian tribes notwithstanding
section 106(a)(1) of the HCD Act; $45,000,000 shall be for ``special
purpose grants'' pursuant to section 107 of the HCD Act, including up to
0.4 percent, but not less than $18,000,000, for the development and
operation of a management information system; $20,000,000 shall be for
youthbuild program activities authorized by subtitle D of title IV of
the Cranston-Gonzalez National Affordable Housing Act, as amended, and
such activities shall be an eligible activity with respect to any funds
made available under this heading, in addition to the foregoing
earmarked amount; and $50,000,000 shall be for grants to nonprofit
entities and units of local government to assist underserved areas and
populations through housing development, infrastructure improvements,
economic development, and supportive services targeted to farmworkers,
colonias, and Native Americans: Provided, That not to exceed 20 percent
of any grant made with funds appropriated herein and earmarked under
this paragraph (other than grants using funds under section 107(b)(3) of
the HCD Act, youthbuild, and assistance to underserved areas and
populations) shall be expended for ``Planning and Management
Development'' and ``Administration'' as defined in regulations
promulgated by the Department: Provided further, That for fiscal year
1997 and thereafter, section 105(a)(25) of the HCD Act shall continue to
be effective, and the termination and conforming provisions of section
907(b)(2) of the Cranston-Gonzalez National Affordable Housing Act shall
not be effective: Provided further, That section 916(f) of the Cranston-
Gonzalez National Affordable Housing Act is repealed.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0162-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Grants............................ 5,030 5,088 4,601
--------- --------- ----------
10.00 Total obligations (object class
41.0)......................... 5,030 5,088 4,601
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 697 487
22.00 New budget authority (gross)...... 4,819 4,600 4,600
22.10 Resources available from
recoveries of prior year
obligations..................... 1 1 1
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 5,517 5,088 4,601
23.95 New obligations................... -5,030 -5,088 -4,601
24.40 Unobligated balance available, end
of year: Uninvested balance..... 487
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 4,819 4,600 4,600
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 7,949 8,645 8,639
73.10 New obligations................... 5,030 5,088 4,601
73.20 Total outlays (gross)............. -4,333 -5,093 -4,931
[[Page 512]]
73.45 Adjustments in unexpired accounts. -1 -1 -1
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 8,645 8,639 8,308
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 193 184 184
86.93 Outlays from current balances..... 4,140 4,909 4,747
--------- --------- ----------
87.00 Total outlays (gross)........... 4,333 5,093 4,931
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 4,819 4,600 4,600
90.00 Outlays........................... 4,333 5,093 4,931
---------------------------------------------------------------------------
Summary of Budget Authority and Outlays
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Enacted/requested:
Budget Authority.................. 4,819 4,600 4,600
Outlays........................... 4,333 5,093 4,931
Legislative proposal, not subject to
PAYGO:
Budget Authority.................. 300
Outlays...........................
------------------------------------
Total:
Budget Authority.................. 4,819 4,600 4,900
Outlays........................... 4,333 5,093 4,931
====================================
Title I of the Housing and Community Development Act of 1974, as
amended, authorizes the Secretary to make grants to units of general
local government and States to fund local community development
programs.
Funds are allocated to Indian tribes, and on an entitlement basis,
to metropolitan cities and urban counties which receive their grants
using the higher of two objective formulas. States and small cities are
also allocated a portion of the available funds.
HUD proposes to operate CDBG as a performance fund starting in 1997.
Grantees will continue to use their formula funds for the present wide
range of activities. States and localities will use performance measures
and benchmarks that are consistent with the national goals of the
program, but can base these measures on the needs and priorities they
establish in their own Consolidated Plans. The funding requested in 1997
for developing, implementing and refining of management information
systems is critical to establishing a national database on local needs
and program performance, as well as providing localities, States and
other community members with software to plan and track performance. As
the necessary systems are implemented and refined, funds needed for this
purpose are anticipated to decrease over time.
In certain geographic areas of the United States--specifically
Native American reservations, the ``colonias'' in the States along the
U.S.-Mexico border, and farmworker camps in certain crop-growing
States--special populations live in shocking conditions of extreme
poverty and substandard housing. The unique character of their poverty
and their remote locations defy solutions through HUD's traditional
programs and, therefore, require special action if the nation is to
eliminate these most unhealthy and degrading living conditions. To this
end, $50 million is requested to assist under-served/developing areas
and populations by providing grants for housing development,
infrastructure improvements, economic development, and supportive
services targeted to farmworkers, colonias, and Native Americans.
Funding eligibility would be made contingent upon applicants'
demonstrated abilities to leverage funds from other public and private
sources, including national housing intermediaries.
CDBG/Economic Development Bonus Pool
(Legislative proposal, not subject to PAYGO)
For grants to States and units of general local government and for
related expenses, necessary for carrying out a community development
bonus program, $300,000,000, to remain available until expended.
(Additional authorizing legislation required.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0162-2-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Grants............................ 300
--------- --------- ----------
10.00 Total obligations (object class
41.0)......................... 300
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 300
23.95 New obligations................... -300
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 300
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 300
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 300
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total outlays (gross).............
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 300
90.00 Outlays...........................
---------------------------------------------------------------------------
The Community Development bonus program would be available on a
competitive basis to high performing jurisdictions to finance efforts
that either generate economic revitalization in distressed communities
or link people living in distressed communities to jobs, wherever they
might be. HUD would administer this bonus pool funding as a challenge
grant, requiring localities to compete for funds by proposing innovative
economic revitalization and job creation strategies using a combination
of their own resources, private capital, and federal program incentives.
In 1997, $200 million will be used to fund a new round of Empowerment
Zones, and $100 million will be reserved for a Bonus Pool for high-
performing jurisdictions to provide funding for the Economic Development
Initiative and other job-creation and economic development activities.
HOME Fund
For the HOME investment partnerships program, as authorized under
title II of the Cranston-Gonzalez National Affordable Housing Act
(Public Law 101-625), as amended, $1,400,000,000 to remain available
until expended: Provided, $21,000,000 shall be available for grants to
Indian tribes: Provided further, That up to 0.5 percent, but not less
than $7,000,000 shall be available for the development and operation of
a management information system; Provided further, That $15,000,000
shall be available for Housing Counseling under section 106 of the
Housing and Urban Development Act of 1968.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0205-0-1-999 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 1,337 1,550 1,402
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 83 148
22.00 New budget authority (gross)...... 1,400 1,400 1,400
[[Page 513]]
22.10 Resources available from
recoveries of prior year
obligations..................... 2 2 2
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 1,485 1,550 1,402
23.95 New obligations................... -1,337 -1,550 -1,402
24.40 Unobligated balance available, end
of year: Uninvested balance..... 148
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 1,400 1,400 1,400
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 3,033 3,189 3,497
73.10 New obligations................... 1,337 1,550 1,402
73.20 Total outlays (gross)............. -1,179 -1,240 -1,401
73.45 Adjustments in unexpired accounts. -2 -2 -2
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 3,189 3,497 3,496
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 28 28 28
86.93 Outlays from current balances..... 1,151 1,212 1,373
--------- --------- ----------
87.00 Total outlays (gross)........... 1,179 1,240 1,401
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 1,400 1,400 1,400
90.00 Outlays........................... 1,179 1,240 1,401
---------------------------------------------------------------------------
Summary of Budget Authority and Outlays
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Enacted/requested:
Budget Authority.................. 1,400 1,400 1,400
Outlays........................... 1,179 1,240 1,401
Legislative proposal, not subject to
PAYGO:
Budget Authority.................. 150
Outlays...........................
------------------------------------
Total:
Budget Authority.................. 1,400 1,400 1,550
Outlays........................... 1,179 1,240 1,401
====================================
The HOME Investment Partnerships program is authorized by the
National Affordable Housing Act (P.L. 101-625). This program provides
assistance to States and units of local government, through formula
allocation, for the purpose of expanding the supply and affordability of
housing. Eligible activities include acquisition, rehabilitation, and
new construction of housing and tenant-based rental assistance. The $1.4
billion requested for 1997 includes $15 million for the Housing
Counseling program as part of an overall effort to increase
homeownership rates.
Funding for developing, implementing, and refining management
information systems is critical to establishing a national database on
local needs and program performance, as well as for providing
localities, States, and other community members with software to plan
and track performance. As the necessary systems are implemented and
refined, funds needed for this purpose are anticipated to decrease over
time.
HOME Fund Challenge Grant
(Legislative proposal, not subject to PAYGO)
For grants and related expenses, not otherwise provided for,
necessary for carrying out a HOME Investment Partnerships bonus program,
$150,000,000, to remain available until expended. (Additional
authorizing language required.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0205-2-1-999 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 150
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 150
23.95 New obligations................... -150
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 150
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 150
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 150
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total outlays (gross).............
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 150
90.00 Outlays...........................
---------------------------------------------------------------------------
The HOME Fund Challenge Grant program would be available on a
competitive basis to high performing jurisdictions to support State and
local efforts to develop homeownership opportunities in targeted areas.
This program will provide critical resources for housing development,
using the wide range of tools available under the HOME program in
Homeownership Zones, and is designed to reclaim abandoned neighborhoods,
strengthen homeownership opportunities for hardworking families, and
serve as a catalyst to stimulate business creation and private
investment. HUD would administer this funding as a challenge grant,
requiring localities to compete for funds by proposing creative, cost-
effective homeownership strategies using a combination of their own
resources, private capital, and Federal program incentives.
Urban Development Action Grants
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0170-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 10
22.00 New budget authority (gross)...... -18
22.10 Resources available from
recoveries of prior year
obligations..................... 8 6 2
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 6 2
----------------------------------------------------------------------------
New budget authority (gross), detail:
41.00 Transferred to other accounts..... -18
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 191 163 120
73.10 New obligations...................
73.20 Total outlays (gross)............. -20 -37 -30
73.45 Adjustments in unexpired accounts. -8 -6 -2
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 163 120 88
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 20 37 30
--------- --------- ----------
87.00 Total outlays (gross)........... 20 37 30
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. -18
90.00 Outlays........................... 20 37 30
---------------------------------------------------------------------------
Title I of the Housing and Community Development Act of 1974, as
amended, authorizes grants to distressed cities and distressed urban
counties to fund economic development projects.
The program has terminated and there are no funds remaining
available for obligation.
[[Page 514]]
Capacity Building for Community Development and Affordable Housing
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0222-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)......
----------------------------------------------------------------------------
New budget authority (gross), detail:
70.00 Total new budget authority (gross)
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 20 19 5
73.10 New obligations...................
73.20 Total outlays (gross)............. -1 -14 -5
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 19 5
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 1 14 5
--------- --------- ----------
87.00 Total outlays (gross)........... 1 14 5
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... 1 14 5
---------------------------------------------------------------------------
As authorized by section 4 of the HUD Demonstration Act of 1993,
this program provided funding to the National Community Development
Initiative to build the capacity of community-based development
corporations and housing development organizations, and to assist such
corporations and organizations to carry out community development and
affordable housing activities.
Emergency Shelter Grants Program
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0181-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 4
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 4
22.00 New budget authority (gross)......
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 4
23.95 New obligations................... -4
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation.....................
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 116 36 1
73.10 New obligations................... 4
73.20 Total outlays (gross)............. -84 -35 -1
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 36 1
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 84 35 1
--------- --------- ----------
87.00 Total outlays (gross)........... 84 35 1
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... 84 35 1
---------------------------------------------------------------------------
Title IV, subtitle B, of the Stewart B. McKinney Homeless Assistance
Act (Public Law 100-77), authorizes the Secretary to make Emergency
Shelter Grants to States, units of local government, and nonprofit
organizations to provide emergency shelter and other support for the
homeless. In fiscal years 1995 and 1996, this assistance was funded by
appropriations to the Homeless Assistance Grants account. Beginning in
fiscal year 1997, funding for this type of activity will be provided
under the Homeless Assistance Fund.
Supportive Housing Program
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0188-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 273 68 2
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 337 66
22.00 New budget authority (gross)......
22.10 Resources available from
recoveries of prior year
obligations..................... 2 2 2
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 339 68 2
23.95 New obligations................... -273 -68 -2
24.40 Unobligated balance available, end
of year: Uninvested balance..... 66
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation.....................
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 419 575 483
73.10 New obligations................... 273 68 2
73.20 Total outlays (gross)............. -115 -158 -157
73.45 Adjustments in unexpired accounts. -2 -2 -2
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 575 483 326
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 115 158 157
--------- --------- ----------
87.00 Total outlays (gross)........... 115 158 157
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... 115 158 157
---------------------------------------------------------------------------
Title IV, subtitle C, of the Stewart B. McKinney Homeless Assistance
Act authorizes assistance to promote the development of supportive
housing and services for deinstitutionalized homeless individuals,
homeless families with children, homeless individuals with mental
disabilities, and other homeless persons. Such assistance is available
for the acquisition, rehabilitation, construction, or leasing of
structures to be used for homeless persons as well as to pay for
operating costs and supportive services.
For fiscal years 1995 and 1996, this type of assistance was funded
by appropriations to the Homeless Assistance Grants account. Beginning
in fiscal year 1997, funding for this type of activity will be provided
under the Homeless Assistance Fund.
Supplemental Assistance for Facilities To Assist the Homeless
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0187-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)......
23.95 New obligations...................
----------------------------------------------------------------------------
New budget authority (gross), detail:
70.00 Total new budget authority (gross)
----------------------------------------------------------------------------
[[Page 515]]
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 17 9 3
73.10 New obligations...................
73.20 Total outlays (gross)............. -8 -6 -3
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 9 3
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 8 6 3
--------- --------- ----------
87.00 Total outlays (gross)........... 8 6 3
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... 8 6 3
---------------------------------------------------------------------------
Title IV, subtitle D, of the Stewart B. McKinney Homeless Assistance
Act, authorized the Supplemental Assistance for Facilities To Assist the
Homeless program (SAFAH) to provide comprehensive assistance for
particularly innovative programs or alternative methods of meeting the
immediate and long-term needs of the homeless. The authority for the
SAFAH program was terminated by section 1403 of the Housing and
Community Development Act of 1992.
Shelter Plus Care
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0204-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 180 29 5
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 199 24
22.00 New budget authority (gross)......
22.10 Resources available from
recoveries of prior year
obligations..................... 5 5 5
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 204 29 5
23.95 New obligations................... -180 -29 -5
24.40 Unobligated balance available, end
of year: Uninvested balance..... 24
----------------------------------------------------------------------------
New budget authority (gross), detail:
70.00 Total new budget authority (gross)
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 296 454 428
73.10 New obligations................... 180 29 5
73.20 Total outlays (gross)............. -17 -50 -50
73.45 Adjustments in unexpired accounts. -5 -5 -5
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 454 428 378
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 17 50 50
--------- --------- ----------
87.00 Total outlays (gross)........... 17 50 50
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... 17 50 50
---------------------------------------------------------------------------
Title IV, subtitle F, of the Stewart B. McKinney Homeless Assistance
Act, authorizes the Secretary to provide rental assistance to persons
with disabilities. Supportive services at least equal in value to the
aggregate rental assistance must also be provided by grant recipients,
using other Federal, State, local and private resources. Eligible
recipients include States, units of general local government and Indian
tribes. Grants are awarded on a competitive basis.
For fiscal years 1995 and 1996, this type of assistance was provided
within the Homeless Assistance Grants account. Beginning in fiscal year
1997, funding for this type of activity will be provided under the
Homeless Assistance Fund.
Innovative Homeless Initiatives Demonstration Program
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0221-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 19 19
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)......
23.95 New obligations................... -19 -19
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation.....................
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 96 79 79
73.10 New obligations................... 19 19
73.20 Total outlays (gross)............. -17 -19 -19
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 79 79 79
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 17 19 19
--------- --------- ----------
87.00 Total outlays (gross)........... 17 19 19
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... 17 19 19
---------------------------------------------------------------------------
Section 2 of the HUD Demonstration Act of 1993 authorizes assistance
for projects intended to provide a continuum of care for homeless
persons and for innovative programs to assist homeless persons. Eligible
recipients include States, units of local government, Indian tribes, and
nonprofit organizations.
Previously, activities were funded by appropriations to the Homeless
Assistance Grants account. Beginning in fiscal year 1997, funding will
be provided under the Homeless Assistance Fund.
Homeless Assistance [Grants] Fund
For performance grants to States, units of general local government
and nonprofit organizations, and for related expenses, not otherwise
provided for, necessary for carrying out a needs-based homeless
assistance program, $1,010,000,000, to remain available until expended:
Provided, That $13,500,000 shall be available for grants to Indian
tribes: Provided further, That such amount shall be available only upon
enactment into law of authorizing legislation for such program.
(Additional authorizing legislation required.)
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0192-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 271 1,672 1,010
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 849
22.00 New budget authority (gross)...... 1,120 823 1,010
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 1,120 1,672 1,010
23.95 New obligations................... -271 -1,672 -1,010
24.40 Unobligated balance available, end
of year: Uninvested balance..... 849
----------------------------------------------------------------------------
[[Page 516]]
New budget authority (gross), detail:
40.00 Appropriation..................... 1,120 823 1,010
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 259 1,733
73.10 New obligations................... 271 1,672 1,010
73.20 Total outlays (gross)............. -12 -198 -412
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 259 1,733 2,331
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 12 41 51
86.93 Outlays from current balances..... 157 361
--------- --------- ----------
87.00 Total outlays (gross)........... 12 198 412
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 1,120 823 1,010
90.00 Outlays........................... 12 198 412
---------------------------------------------------------------------------
Summary of Budget Authority and Outlays
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Enacted/requested:
Budget Authority.................. 1,120 823 1,010
Outlays........................... 12 198 412
Legislative proposal, not subject to
PAYGO:
Budget Authority.................. 110
Outlays...........................
------------------------------------
Total:
Budget Authority.................. 1,120 823 1,120
Outlays........................... 12 198 412
====================================
The Homeless Assistance Fund consolidates HUD's six McKinney
homeless assistance programs--Shelter Plus Care, Supportive Housing,
Emergency Shelter Grants, Section 8 Moderate Rehabilitation Single Room
Occupancy, Rural Homeless Grants, and Safe Havens, as well as the
Innovative Homeless Initiatives Demonstration Program. This
consolidation would enable localities to shape a comprehensive,
flexible, coordinated ``continuum of care'' approach to solving rather
than institutionalizing homelessness. States and localities would
receive an allocation, for which they would submit an application to HUD
for approval. A community-based process would be required as part of the
application process. Approved funding would be available for a wide
range of activities to assist homeless persons and prevent future
homelessness.
Homeless/Innovations Bonus Pool
(Legislative proposal, not subject to PAYGO)
For grants and related expenses, not otherwise provided for,
necessary for carrying out the Homeless/Innovations program,
$110,000,000, to be available until expended. (Additional authorizing
legislation required.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0192-2-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 110
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 110
23.95 New obligations................... -110
24.40 Unobligated balance available, end
of year: Uninvested balance.....
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 110
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation
73.10 New obligations................... 110
73.20 Total outlays (gross).............
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 110
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total outlays (gross).............
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 110
90.00 Outlays...........................
---------------------------------------------------------------------------
The Homeless/Innovations program would be available on a competitive
basis to applicants who propose innovative programs or solutions to
addressing homelessness through ``continuum of care'' efforts. The
Department would administer this program as a challenge grant, requiring
localities to compete for funds by proposing creative strategies using a
combination of their own resources, private capital, and Federal program
incentives.
Youthbuild Program
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0219-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 68 2
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 4 2
22.00 New budget authority (gross)...... 40
22.20 Unobligated balance transferred... 26
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 70 2
23.95 New obligations................... -68 -2
24.40 Unobligated balance available, end
of year: Uninvested balance..... 2
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 50
40.35 Appropriation rescinded........... -10
--------- --------- ----------
43.00 Appropriation (total)........... 40
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 40
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 35 85 66
73.10 New obligations................... 68 2
73.20 Total outlays (gross)............. -20 -21 -18
73.30 Obligated balance transferred, net 2
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 85 66 48
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 20 21 18
--------- --------- ----------
87.00 Total outlays (gross)........... 20 21 18
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 40
90.00 Outlays........................... 20 21 18
---------------------------------------------------------------------------
This program provides resources to educate, train, and provide
stipends for economically disadvantaged young adults to construct and
rehabilitate housing for low-income and homeless persons. The program
has expanded the supply of affordable housing, and at the same time, has
enabled high school dropouts to obtain the education and employment
skills necessary to achieve self-sufficiency.
Beginning in fiscal year 1996, funding for the Youthbuild program
was included in the Community Development Block Grants Fund Account.
[[Page 517]]
National Cities in Schools Community Development Program
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0220-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)......
23.95 New obligations...................
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 9 2
73.10 New obligations...................
73.20 Total outlays (gross)............. -7 -2
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 2
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 7 2
--------- --------- ----------
87.00 Total outlays (gross)........... 7 2
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... 6 2
---------------------------------------------------------------------------
This program provided grants for community-wide programs designed to
assist at-risk youth and their families. The program was terminated at
the end of fiscal year 1994.
Public enterprise funds:
Revolving Fund (Liquidating Programs)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4015-0-3-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.03 Loan servicing and other expenses. 7 7 7
00.04 Maintenance of acquired security
and collateral.................. 4 7 7
00.05 Administrative expenses........... 1 1 1
--------- --------- ----------
10.00 Total obligations (object class
25.2)......................... 12 15 15
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.90 Unobligated balance available,
start of year: Fund balance..... 92 102 92
22.00 New budget authority (gross)...... 74 73 65
22.10 Resources available from
recoveries of prior year
obligations..................... 3 2
22.40 Capital transfer to general fund.. -55 -70 -60
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 114 107 97
23.95 New obligations................... -12 -15 -15
24.90 Unobligated balance available, end
of year: Fund balance........... 102 92 82
----------------------------------------------------------------------------
New budget authority (gross), detail:
68.00 Spending authority from offsetting
collections (gross): Offsetting
collections (cash).............. 74 73 65
----------------------------------------------------------------------------
Change in unpaid obligations:
72.90 Unpaid obligations, start of year:
Obligated balance: Fund balance. 71 46 19
73.10 New obligations................... 12 15 15
73.20 Total outlays (gross)............. -34 -40 -34
73.45 Adjustments in unexpired accounts. -3 -2
74.90 Unpaid obligations, end of year:
Obligated balance: Fund balance. 46 19
----------------------------------------------------------------------------
Outlays (gross), detail:
86.98 Outlays from permanent balances... 34 40 34
--------- --------- ----------
87.00 Total outlays (gross)........... 34 40 34
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -74 -73 -65
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... -40 -33 -31
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4015-0-3-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 446 388 336
1251 Repayments: Repayments and
prepayments..................... -51 -50 -45
1263 Write-offs for default: Direct
loans........................... -7 -2 -1
--------- --------- ----------
1290 Outstanding, end of year........ 388 336 290
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4015-0-3-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 8 4 3
2251 Repayments and prepayments........ -4 -1 -1
--------- --------- ----------
2290 Outstanding, end of year........ 4 3 2
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 4 3 2
---------------------------------------------------------------------------
The Revolving fund (liquidating programs) was established by the
Independent Offices Appropriation Act of 1955 for the more efficient
liquidation of assets acquired under a number of housing and urban
development programs.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4015-0-3-451 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 21 19 19 20
0102 Expense........................... -26 -12 -15 -15
------------ -------------- ------------ -------------
0109 Net income or loss (-)............ -5 7 4 5
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4015-0-3-451 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
1101 Federal assets: Fund balances with
Treasury........................ 163 149 143 135
1206 Non-Federal assets: Receivables,
net............................. 3 3 3 3
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 450 391 350 325
1602 Interest receivable............. 20 21 20 20
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -122 -36 -38 -39
1604 Direct loans and interest
receivable, net............... 348 376 332 306
1606 Foreclosed property............. 1 1 1 1
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 349 377 333 307
------------ -------------- ------------ -------------
1999 Total assets.................... 515 529 479 445
LIABILITIES:
Non-Federal liabilities:
2201 Accounts payable................ 1 1 1 1
2207 Other........................... 13 13 13 12
------------ -------------- ------------ -------------
2999 Total liabilities............... 14 14 14 13
NET POSITION:
3300 Cumulative results of operations.. 501 514 465 432
------------ -------------- ------------ -------------
3999 Total net position.............. 501 514 465 432
------------ -------------- ------------ -------------
4999 Total liabilities and net position 515 528 479 445
-----------------------------------------------------------------------------------------------
Credit accounts:
Community [Opportunity Performance Funds] Development Loan Guarantees
Program Account
For the cost of guaranteed loans, $46,000,000, as authorized by
section 108 of the Housing and Community Development Act of 1974:
[[Page 518]]
Provided, That such costs, including the cost of modifying such loans,
shall be as defined in section 502 of the Congressional Budget Act of
1974: Provided further, That these funds are available to subsidize
total loan principal, any part of which is to be guaranteed, not to
exceed $2,000,000,000, notwithstanding any aggregate limitation on
outstanding obligations guaranteed in section 108(k) of the Housing and
Community Development Act of 1974. In addition, for administrative
expenses to carry out the guaranteed loan program, $675,000, which shall
be transferred to the appropriation for Salaries and Expenses.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0198-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.02 Guaranteed loan subsidy........... 32 46
00.09 Administrative expenses........... 1 1
--------- --------- ----------
10.00 Total obligations (object class
33.0)......................... 33 47
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 33 47
23.95 New obligations................... -33 -47
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 33 47
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 16
73.10 New obligations................... 33 47
73.20 Total outlays (gross)............. -17 -40
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 16 23
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 17 24
86.93 Outlays from current balances..... 16
--------- --------- ----------
87.00 Total outlays (gross)........... 17 40
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 33 47
90.00 Outlays........................... 17 40
---------------------------------------------------------------------------
Guaranteed Loans.--The Community Development Block Grants Fund
includes a guaranteed loan provision (Section 108). A commitment level
of $2 billion is proposed for the Community Development Loan Guarantees
(Section 108) program for 1997. The credit subsidy estimate for the
guaranteed loan is $46 million for the estimated use of this authority
in 1997.
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0198-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Guaranteed loan levels supportable by subsidy
budget authority:
2159 Total loan guarantee levels....... 2,054 1,500 2,000
Guaranteed loan subsidy (in percent):
2329 Weighted average subsidy rate..... 0.00 2.14 2.30
Guaranteed loan subsidy budget authority:
2339 Total subsidy budget authority.... 32 46
Guaranteed loan subsidy outlays:
2349 Total subsidy outlays............. 16 39
----------------------------------------------------------------------------
Administrative expense data:
3510 Budget authority.................. 1 1
3590 Outlays........................... 1 1
---------------------------------------------------------------------------
Community [Opportunity Performance Funds] Development Loan Guarantees
Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4096-0-3-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.90 Unobligated balance available,
start of year: Fund balance..... 16
22.00 New financing authority (gross)... 16 39
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 16 55
23.95 New obligations...................
24.90 Unobligated balance available, end
of year: Fund balance........... 16 55
----------------------------------------------------------------------------
New financing authority (gross), detail:
68.00 Spending authority from offsetting
collections (gross): Offsetting
collections (cash).............. 16 39
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations...................
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total financing disbursements
(gross).......................
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Federal sources............... -16 -39
88.25 Interest on uninvested funds.. -2
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -16 -41
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... -2
90.00 Financing disbursements........... -16 -41
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4096-0-3-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on commitments:
2111 Limitation on guaranteed loans
made by private lenders......... 2,054 1,500 2,000
2112 Uncommitted loan guarantee
limitation...................... -210
--------- --------- ----------
2150 Total guaranteed loan
commitments................... 1,844 1,500 2,000
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 115 317 1,949
2231 Disbursements of new guaranteed
loans........................... 243 1,672 1,750
2251 Repayments and prepayments........ -41 -40 -65
--------- --------- ----------
2290 Outstanding, end of year........ 317 1,949 3,634
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 317 1,949 3,634
---------------------------------------------------------------------------
Guaranteed loans.--The Community Development Loan Guarantees Program
provides a mechanism for Federal guarantees of private loans. There is
an accompanying liquidating account which shows activity for Federal
Financing Bank (FFB) direct loan activity, obligated prior to July 1,
1986. Also following is a status of privately financed guaranteed loan
commitments made prior to 1992.
Community [Opportunity Performance Funds] Development Loan Guarantees
Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4097-0-3-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 21 20 15
----------------------------------------------------------------------------
[[Page 519]]
New budget authority (gross), detail:
68.00 Spending authority from offsetting
collections (gross): Offsetting
collections (cash).............. 21 20 15
----------------------------------------------------------------------------
Change in unpaid obligations:
72.47 Unpaid obligations, start of year:
Obligated balance: Authority to
borrow.......................... 158 153 153
73.10 New obligations...................
73.20 Total outlays (gross)............. -5
74.47 Unpaid obligations, end of year:
Obligated balance: Authority to
borrow.......................... 153 153 153
----------------------------------------------------------------------------
Outlays (gross), detail:
86.98 Outlays from permanent balances... 5
--------- --------- ----------
87.00 Total outlays (gross)........... 5
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -21 -20 -15
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... -16 -20 -15
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4097-0-3-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 110 89 69
1251 Repayments: Repayments and
prepayments..................... -21 -20 -15
--------- --------- ----------
1290 Outstanding, end of year........ 89 69 54
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4097-0-3-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 297 246 196
2231 Disbursements of new guaranteed
loans........................... 27 20 15
2251 Repayments and prepayments........ -78 -70 -60
--------- --------- ----------
2290 Outstanding, end of year........ 246 196 151
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 246 196 151
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, this account
records all cash flows to and from the Government resulting from Federal
Financing Bank direct loans for which loan guarantees were committed
prior to 1992. This account is shown on a cash basis.
Guaranteed loans.--Guaranteed loan assistance under the Community
Development Loan Guarantees program is provided to eligible communities
to finance acquisition of real property, rehabilitation of publicly
owned real property, and certain related expenses. In the past, the FFB
financed these guaranteed loans. The Consolidated Omnibus Budget
Reconciliation Act of 1985 requires private financing of all loan
guarantees committed after July 1, 1986. FFB will continue disbursing
loans for commitments approved prior to July 1, 1986. The activity shown
in the above account reflects privately financed guaranteed loans for
which commitments were made prior to 1992.
HOUSING PROGRAMS
Federal Funds
General and special funds:
Annual Contributions for Assisted Housing
For assistance under the United States Housing Act of 1937, as
amended (42 U.S.C. 1437), not otherwise provided for, $5,597,000,000, to
remain available until expended, of which $60,000,000 shall be for the
lead-based paint hazard reduction program authorized under sections 1011
and 1053 of the Residential Lead-Based Hazard Reduction Act of 1992;
$800,000,000 shall be for amendments to section 8 contracts other than
contracts for projects developed under section 202 of the Housing Act of
1959, as amended; and $4,737,000,000 shall be for assistance under 42
U.S.C. 1437 for use in connection with expiring or terminating section 8
subsidy contracts: Provided, That any assets and liabilities remaining
at the end of fiscal year 1996 in the ``Renewal of expiring section 8
subsidy contracts'' account shall be transferred to and merged with the
balances available under this heading, and any such asset shall be
treated as earmarked for assistance for expiring or terminating section
8 subsidy contracts, in addition to amounts earmarked for such use
herein: Provided further, That to the extent that such transfers are
insufficient to fund all expiring section 8 contracts, the Secretary may
transfer to and merge with such earmark, additional unobligated balances
from other earmarks within the Annual Contributions for Assisted Housing
account sufficient to fund such expiring contracts: Provided further,
That of the amounts recaptured from the termination or restructuring of
new construction or substantial rehabilitation contracts under section
8(a), as it existed prior to November 30, 1983, (except for new
construction contracts for housing for the elderly or disabled, as
authorized by section 202 of the Housing Act of 1959), up to
$477,000,000 shall be rescinded.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0164-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
Assistance contracts:
00.01 Lower income housing (section 8) 8,581 8,820 4,452
00.02 Public and Indian housing....... 5,666 2,818
00.03 Elderly/Disabled Grants......... 1,346 1,386 1,039
00.04 Program Activity................ 566
00.05 Lead Based Paint Abatement...... 159
00.06 Disaster Assistance............. 83
00.07 Contract Renewals............... 2,016 4,200 4,000
--------- --------- ----------
10.00 Total obligations (object
class 41.0)................. 18,417 17,224 9,491
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
Uninvested balance:
21.40 Administrative commitments
(reserved).................. 18,758 358 358
21.40 Administrative commitments
(reserved).................. 2,146 9,182 5,387
21.40 Uninvested balance............ 1,200
21.49 Administrative commitments
(reserved).................... 73 73
21.90 Fund balance.................... 29 29
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 20,977 10,842 5,774
22.00 New budget authority (gross)...... 8,150 10,156 5,120
22.10 Resources available from
recoveries of prior year
obligations..................... 11,468 2,000 2,477
22.20 Unobligated balance transferred... -2 -1,750
22.30 Unobligated balance expiring...... 89
22.75 Balance of contract authority
withdrawn....................... -11,423
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 29,259 22,998 11,621
23.95 New obligations................... -18,417 -17,224 -9,491
Unobligated balance available, end of year:
Uninvested balance:
24.40 Available..................... 358 358 525
24.40 Reserved...................... 9,182 5,387 1,576
24.40 Uninvested balance............ 1,200
24.49 Contract authority.............. 73
24.90 Fund balance.................... 29 29 29
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 10,842 5,774 2,130
----------------------------------------------------------------------------
New budget authority (gross), detail:
Current:
40.00 Appropriation................... 8,144 10,156 5,597
40.35 Appropriation rescinded......... -477
41.00 Transferred to other accounts... -12
42.00 Transferred from other accounts. 18
--------- --------- ----------
43.00 Appropriation (total)......... 8,150 10,156 5,120
Permanent:
60.05 Appropriation (indefinite)...... 22,326 10,013 16,000
60.49 Portion applied to liquidate
contract authority............ -22,326 -10,013 -16,000
--------- --------- ----------
[[Page 520]]
63.00 Appropriation (total).........
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 8,150 10,156 5,120
----------------------------------------------------------------------------
Change in unpaid obligations:
Unpaid obligations, start of year:
Obligated balance:
Appropriation:
72.40 Appropriation............... 22,517 45,271 51,073
72.40 Appropriation............... 19,831 16,326 15,918
72.49 Contract authority............ 103,022 69,331 59,331
--------- --------- ----------
72.99 Total unpaid obligations,
start of year............... 145,370 130,928 126,322
73.10 New obligations................... 18,417 17,224 9,491
73.20 Total outlays (gross)............. -21,391 -19,830 -16,756
73.30 Obligated balance transferred, net -19,191
73.45 Adjustments in unexpired accounts. -11,468 -2,000 -2,477
Unpaid obligations, end of year:
Obligated balance:
Appropriation:
74.40 Appropriation............... 45,271 51,073 39,890
74.40 Appropriation............... 16,326 15,918 15,918
74.49 Contract authority............ 69,331 59,331 41,581
--------- --------- ----------
74.99 Total unpaid obligations, end
of year..................... 130,928 126,322 97,389
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 169 1,649 1,600
86.93 Outlays from current balances..... 21,222 18,181 15,156
--------- --------- ----------
87.00 Total outlays (gross)........... 21,391 19,830 16,756
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 8,150 10,156 5,120
90.00 Outlays........................... 21,391 19,830 16,756
---------------------------------------------------------------------------
Summary of Budget Authority and Outlays
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Enacted/requested:
Budget Authority.................. 8,150 10,156 5,120
Outlays........................... 21,391 19,830 16,756
Legislative proposal, subject to
PAYGO:
Budget Authority.................. -60 -236
Outlays........................... -60 -236
Adjustment to 1996 continuing
resolution levels:
Budget Authority.................. 365
Outlays........................... 8 50
------------------------------------
Total:
Budget Authority.................. 8,150 10,461 4,884
Outlays........................... 21,391 19,778 16,570
====================================
ANNUAL CONTRIBUTIONS FOR ASSISTED HOUSING
Status of Contract Authority (in millions of dollars)
----------------------------------------------------------------------------
1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Total unfunded balance, start of
year............................ 103,095 69,404 59,331
----------- -----------------------
Appropriation to liquidate contract
authority............................. -22,326 -10,013 -16,000
Balance of contract authority withdrawn. -11,365 -61 -2
Unfunded balances transferred for
liquidation...........................
----------- ----------- ----------
Unfunded balance, end of year..... 69,404 59,331 41,581
----------------------------------------------------------------------------
ANNUAL CONTRIBUTIONS FOR ASSISTED HOUSING
Summary of Administrative Commitments
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Program by activities:
Assistance contracts:
Lower income housing (section 8) 3,857 5,004 860
Public and Indian housing....... 3,721
Sec. 202/811...................... 1,033 1,188 4,260
Contract renewals................. 2,197 4,351
------------------------------------
Subtotal...................... 10,808 10,543 5,120
Administrative commitments, start
of year......................... 18,758 10,381 5,387
Administrative commitments
transferred\1\..................
Administrative commitments, end of
year............................ -11,149 -3,701 -1,016
------------------------------------
Total obligations............. 18,417 17,223 9,491
====================================
\1\ Reflects transfer from Contract Renewals to Annual Contributions
account.
The Annual Contributions for Assisted Housing account provided
assistance under three major categories.
Low-income housing (section 8).--Included within the section 8
category were incremental rental assistance in the form of housing
certificates and housing vouchers; Public Housing and Housing
Relocation/Replacement opt-out units; Housing Opportunities for Persons
with AIDS; Section 23 Conversions; and Loan Management and Property
Disposition activities.
Housing for the elderly and disabled (section 202 and 811).--The
Cranston-Gonzales National Affordable Housing Act authorized a grant
program to make new construction assistance available to elderly and
disabled persons. Both the Grant funding and the Rental Assistance--or
operating subsidy--needed to aid these low-income tenants was provided
under the annual contributions account.
Public and Indian housing.--New development funding was provided for
both Public Housing and for Indian Housing within this account. In
addition, funding was provided for Public and Indian Housing
Modernization activities and Public/Indian Housing amendments and lease
adjustments. Funding was also provided for Public Housing Service
Coordinators.
The Annual Contributions for Assisted Housing account provided
funding for a wide range of housing assistance through the Low-Income
Housing (Section 8), Housing for the Elderly and Disabled, and the
Public and Indian Housing programs. In addition, various housing-related
programs were carried out through funding provided under this account.
Consistent with HUD's Reinvention process, many of these activities will
be funded under the new consolidated Funds being proposed for 1997.
However, certain activities will continue to be included within this
account in 1997. Appropriations are being requested for Lead-based paint
hazard reduction, section 8 contract amendments and the renewal of
expiring section 8 contracts. In addition, language is being proposed to
permit the transfer into this account of all unobligated and obligated
balances previously made available under the Renewal of expiring section
8 subsidy contracts account.
Annual Contributions For Assisted Housing
(Legislative proposal, subject to PAYGO)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0164-4-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
Assistance contracts:
00.01 Lower income housing (section 8) -60 -236
--------- --------- ----------
10.00 Total obligations (object
class 41.0)................. -60 -236
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... -60 -236
23.95 New obligations................... 60 236
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... -60 -236
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... -60 -236
73.20 Total outlays (gross)............. 60 236
----------------------------------------------------------------------------
[[Page 521]]
Outlays (gross), detail:
86.90 Outlays from new current authority -60 -236
--------- --------- ----------
87.00 Total outlays (gross)........... -60 -236
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. -60 -236
90.00 Outlays........................... -60 -236
---------------------------------------------------------------------------
The Budget includes several cost savings proposals, two of which
place limits on Annual Adjustment Factor (AAF) rent increases for
section 8 units. The first proposal limits AAF increases to those cases
where existing rents are less than the local average fair market rent.
This is estimated to save $66 million in outlays in fiscal year 1997.
The second, reduces by up to one percent the increase for units in which
the same tenant has resided since the last increase. This proposal is
based on the rationale that operating costs are less if tenant turnover
is less. This proposal is estimated to save $170 million in outlays in
fiscal year 1997.
Housing for Special Populations: Elderly and Disabled
For capital advances, including amendments to capital advance
contracts, and for project rental assistance and amendments thereto, for
Supportive Housing for the Elderly under section 202 of the Housing Act
of 1959, as amended, $595,000,000, to remain available until expended.
For capital advances, including amendments to capital advance
contracts, and for project rental assistance and amendments thereto, for
Supportive Housing for Persons with Disabilities under section 811 of
the Cranston-Gonzalez National Affordable Housing Act, $174,000,000, to
remain available until expended, of which 25 percent shall be used for
tenant-based rental assistance under section 8(o) of the U.S. Housing
Act of 1937 (42 U.S.C. 1437(o)), in addition to any other amounts
available for section 8(o).
The Secretary may waive any provision of section 202 of the Housing
Act of 1959 and section 811 of the Cranston-Gonzalez National Affordable
Housing Act (including the provisions governing the terms and conditions
of project rental assistance) that the Secretary determines is not
necessary to achieve the objectives of these programs, or that otherwise
impedes the ability to develop, operate or administer projects assisted
under these programs, and may make provision for alternative conditions
or terms where appropriate.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0309-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 769
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 769
23.95 New obligations................... -769
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 769
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 769
73.20 Total outlays (gross).............
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 769
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total outlays (gross).............
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 769
90.00 Outlays...........................
---------------------------------------------------------------------------
Housing for the elderly and disabled (section 202 and 811).--The
Cranston-Gonzalez National Affordable Housing Act authorized a grant
program to make new construction assistance available to elderly and
disabled persons. Both the Grant funding and the Rental Assistance
operating subsidy are needed to aid these low-income tenants.
The Administration proposes to establish a separate account for the
Supportive Housing for the Elderly and Disabled program. Assistance
would be provided in the form of capital grants and rental assistance.
Tenant-based vouchers and certificates will be provided for 25 percent
of Supportive Housing for the Disabled, in the form of Section 8
vouchers.
Other Assisted Housing Programs
Rental Housing Assistance
(rescissions)
The limitation otherwise applicable to the maximum payments that may
be required in any fiscal year by all contracts entered into under
section 236 of the National Housing Act (12 U.S.C. 1715z-1) is reduced
in fiscal year 1997 by not more than $2,000,000 in uncommitted balances
of authorizations provided for this purpose in appropriations Acts.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0206-0-1-999 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Rent supplement................... 42 39
00.02 Homeownership and rental housing
assistance (Sections 235 and
236)............................ 72 68
--------- --------- ----------
10.00 Total obligations (object class
41.0)......................... 114 107
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
21.40 Uninvested balance.............. 7
21.49 Contract authority (available).. 1,063 1,037 913
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 1,063 1,044 913
22.00 New budget authority (gross)...... 7
22.10 Resources available from
recoveries of prior year
obligations..................... 208 69 375
22.75 Balance of contract authority
withdrawn....................... -234 -86 -97
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 1,044 1,027 1,191
23.95 New obligations................... -114 -107
Unobligated balance available, end of year:
24.40 Uninvested balance.............. 7
24.49 Contract authority (available).. 1,037 913 1,084
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 1,044 913 1,084
----------------------------------------------------------------------------
New budget authority (gross), detail:
Current:
40.00 Appropriation................... 7
Permanent:
60.00 Appropriation................... 743 772 747
60.49 Portion applied to liquidate
contract authority............ -743 -772 -747
--------- --------- ----------
63.00 Appropriation (total).........
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 7
----------------------------------------------------------------------------
Change in unpaid obligations:
Unpaid obligations, start of year:
Obligated balance:
72.40 Administrative commitment
(reserved).................. 128 104 104
72.49 Contract authority............ 23,726 22,774 22,047
--------- --------- ----------
72.99 Total unpaid obligations,
start of year............... 23,854 22,878 22,151
73.10 New obligations................... 114 107
73.20 Total outlays (gross)............. -768 -772 -741
73.45 Adjustments in unexpired accounts. -208 -69 -375
Unpaid obligations, end of year:
Obligated balance:
74.40 Administrative commitment
reserved.................... 104 104 104
74.49 Contract authority............ 22,774 22,047 21,038
--------- --------- ----------
74.99 Total unpaid obligations, end
of year..................... 22,878 22,151 21,142
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 768 772 741
--------- --------- ----------
[[Page 522]]
87.00 Total outlays (gross)........... 768 772 741
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 7
90.00 Outlays........................... 768 772 741
---------------------------------------------------------------------------
OTHER ASSISTED HOUSING
Summary of Administrative Commitments
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Program by activities...............
Assistance contracts:
Rent supplement................. 0 42 39
Homeownership and rental housing
assistance (sections 235 and
236).......................... 0 72 68
Administrative commitments, start
of year......................... 16 16 16
Administrative commitments, end of
year............................ -16 -16 -16
------------------------------------
Total obligations............. 0 114 107
====================================
The Other Assisted Housing Account contains the programs listed
below:
Rent supplement.--Rent supplement assistance payments will continue
to be made on behalf of qualified low-income tenants in approximately
20,000 units which have not converted to section 8.
Section 235.--The Housing and Urban-Rural Recovery Act of 1983
(Public Law 98-181) authorized a restructured section 235 (Homeownership
Assistance) program based on a 10-year interest reduction subsidy. A
total of $150 million of budget authority was provided in the Second
Supplemental Appropriations Act of 1984 (Public Law 98-396) to fund the
program. Recaptures of budget authority from terminations must be
transferred into the Homeownership Assistance Fund account established
pursuant to Public Law 98-181. Amounts deposited will be available for
use to assist program beneficiaries still in need of assistance at the
expiration of their present ten-year assistance contracts.
Section 236.--The Housing and Urban Development Act of 1968, as
amended, authorizes the section 236 Rental Housing Assistance Program
which subsidizes the monthly mortgage payment that an owner of a rental
or cooperative project is required to make. This interest subsidy
reduces rents for lower income tenants.
The Rental Housing Assistance Rescission allows the rescission of
not more than $2,000,000 in uncommitted balances of contract authority.
The table below reflects the consolidated outlay total for both the
Annual Contributions for Assisted Housing account and the Other Assisted
Housing account, for fiscal years 1995, 1996, and 1997.
SUMMARY OF OUTLAYS
[In millions of dollars]
(Annual contributions for Assisted Housing and Other Assisted Housing)
\1\
1995 actual 1996 est. 1997 est.
Subsidized Housing Programs, total.. 22,159 20,791 17,761
Low income housing assistance (sec.
8).................................. 16,948 15,778 16,858
Public housing...................... 4,443 4,241 \2\
Rent supplement..................... 54 56 57
Homeownership assistance (sec. 235). 41 40 34
Rental housing assistance (sec. 236) 655 659 794
College housing grants.............. 18 18 18
\1\ Includes outlays for contract renewals.
\2\ Public Housing is proposed to be moved from Annual Contributions
for Assisted Housing to the Public Housing Capital Fund in 1997.
National Homeownership [Trust] Demonstration Program
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0301-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)......
23.95 New obligations...................
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 50
40.35 Appropriation rescinded........... -50
--------- --------- ----------
43.00 Appropriation (total)...........
--------- --------- ----------
70.00 Total new budget authority
(gross).......................
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations...................
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total outlays (gross).............
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................
---------------------------------------------------------------------------
The National Homeownership Demonstration Program was authorized to
provide resources to revolving funds established by public agencies to
assist eligible first-time buyers to become homeowners. In addition,
certain forms of mortgage assistance were authorized.
Homeownership and Opportunity for People Everywhere Grants (HOPE Grants)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0196-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Hope I............................ 64 2
00.02 Hope II........................... 10 31
00.03 Hope III.......................... 18 6
00.04 Elderly independence.............. 2 2
--------- --------- ----------
10.00 Total obligations (object class
41.0)......................... 94 41
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
Uninvested balance:
21.40 Uncommitted................... 34 36
21.40 Administratively committed.... 63 5
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 97 41
22.00 New budget authority (gross)...... 62
22.10 Resources available from
recoveries of prior year
obligations..................... 1
22.20 Unobligated balance transferred... -26
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 134 41
23.95 New obligations................... -94 -41
Unobligated balance available, end of year:
Uninvested balance:
24.40 Uncommitted................... 36
24.40 Administratively committed.... 5
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 41
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 50
42.00 Transferred from other accounts... 12
--------- --------- ----------
43.00 Appropriation (total)........... 62
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 62
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 228 244 189
[[Page 523]]
73.10 New obligations................... 94 41
73.20 Total outlays (gross)............. -75 -96 -87
73.30 Obligated balance transferred, net -2
73.45 Adjustments in unexpired accounts. -1
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 244 189 102
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 75 96 87
--------- --------- ----------
87.00 Total outlays (gross)........... 75 96 87
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 62
90.00 Outlays........................... 75 96 87
---------------------------------------------------------------------------
The Homeownership and Opportunity for People Everywhere Program
provided affordable homeownership opportunities for low-income families.
Units were converted to homeownership from public and Indian housing
properties in HOPE 1, from FHA-insured and Government-held multifamily
properties in HOPE 2 and from Government-owned or -held single family
properties in HOPE 3. HOPE Grants were used for property acquisition,
rehabilitation, mortgage subsidies, security measures, and technical
assistance. In addition, grants have been devoted to counseling and
training of residents, and other activities intended to help them become
economically self-sufficient homeowners. No funding is being requested
for fiscal year 1997. This schedule reflects the liquidation of prior
year balances.
Congregate Services
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0178-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 8
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 20
22.00 New budget authority (gross)...... -12
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 8
23.95 New obligations................... -8
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 25
40.35 Appropriation rescinded........... -25
40.36 Unobligated balance rescinded..... -12
--------- --------- ----------
43.00 Appropriation (total)........... -12
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... -12
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 38 38 29
73.10 New obligations................... 8
73.20 Total outlays (gross)............. -6 -9 -9
73.40 Adjustments in expired accounts... -2
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 38 29 20
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 6 9 9
--------- --------- ----------
87.00 Total outlays (gross)........... 6 9 9
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. -12
90.00 Outlays........................... 6 9 9
---------------------------------------------------------------------------
Under the Congregate Services program, HUD contracted directly with
local public housing agencies and section 202 housing for the elderly or
disabled sponsors to supply support services, including meals and other
services. No funding is being requested for this program in fiscal year
1997. This schedule reflects the liquidation of prior year balances.
Housing Counseling Assistance
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0156-0-1-506 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 12
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 12
23.95 New obligations................... -12
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 12
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 13 17 12
73.10 New obligations................... 12
73.20 Total outlays (gross)............. -7 -6 -5
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 17 12 6
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 7 6 5
--------- --------- ----------
87.00 Total outlays (gross)........... 7 6 5
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 12
90.00 Outlays........................... 7 6 5
---------------------------------------------------------------------------
The Housing Counseling Assistance program provided comprehensive
housing counseling services to eligible homeowners and tenants,
including default and renter counseling. Beginning in fiscal year 1997,
funding for this type of activity will be provided under the Home Fund.
Section 8 Moderate Rehabilitation
single room occupancy
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0195-0-1-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 97 193 2
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 286 191
22.00 New budget authority (gross)......
22.10 Resources available from
recoveries of prior year
obligations..................... 2 2 2
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 288 193 2
23.95 New obligations................... -97 -193 -2
24.40 Unobligated balance available, end
of year: Uninvested balance..... 191
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 240 319 469
73.10 New obligations................... 97 193 2
73.20 Total outlays (gross)............. -17 -41 -51
73.45 Adjustments in unexpired accounts. -2 -2 -2
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 319 469 418
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 17 41 51
--------- --------- ----------
87.00 Total outlays (gross)........... 17 41 51
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
[[Page 524]]
90.00 Outlays........................... 17 41 51
---------------------------------------------------------------------------
Section 8 assistance for single room occupancy dwellings is
authorized by Title IV, subtitle E, of the Stewart B. McKinney Homeless
Assistance Act, as amended by the Housing and Community Development Act
of 1992. In fiscal years 1995 and 1996, these activities were funded
under the Homeless Assistance Grants account. Beginning in fiscal year
1997, funding for this type of activity will be provided under the
Homeless Assistance Fund.
Manufactured Home Inspection and Monitoring
Unavailable Collections (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-5271-0-2-376 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Balance, start of year:
01.99 Balance, start of year............
Receipts:
02.01 Mobile Home Inspection and
Monitoring...................... 12 11 11
Appropriation:
05.01 Manufactured home inspection and
monitoring...................... -12 -11 -11
07.99 Total balance, end of year........
---------------------------------------------------------------------------
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-5271-0-2-376 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Transfer to salaries and expenses. 1 1 1
00.02 Other program costs............... 9 9 9
--------- --------- ----------
10.00 Total obligations (object class
25.2)......................... 10 10 10
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 6 7 9
22.00 New budget authority (gross)...... 12 11 11
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 18 18 20
23.95 New obligations................... -10 -10 -10
24.40 Unobligated balance available, end
of year: Uninvested balance..... 7 9 10
----------------------------------------------------------------------------
New budget authority (gross), detail:
60.25 Appropriation (special fund,
indefinite)..................... 12 11 11
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 2 2 2
73.10 New obligations................... 10 10 10
73.20 Total outlays (gross)............. -10 -10 -10
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 2 2 2
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 10 10 10
--------- --------- ----------
87.00 Total outlays (gross)........... 10 10 10
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 12 11 11
90.00 Outlays........................... 10 10 10
---------------------------------------------------------------------------
Section 620 of the National Manufactured Housing Construction and
Safety Standards Act of 1974, as amended, authorizes enforcement of
appropriate construction standards for the construction, design and
performance of manufactured homes to assure their quality, durability,
and safety. All manufactured homes produced since the standards took
effect on June 15, 1976 must comply with Federal construction and safety
standards. The States are actively encouraged to participate in the
program under compliance plans approved by HUD.
A fee is charged to the manufacturers for each manufactured home
produced to cover the costs of the monitoring and enforcement activities
by HUD contract agents. Fees are deposited in a special fund
administered by the Department, and a portion of the fee receipts are
transferred to the salaries and expenses account to defray the direct
administrative expenses of the program.
Interstate Land Sales
Unavailable Collections (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-5270-0-2-376 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Balance, start of year:
01.99 Balance, start of year............
Receipts:
02.01 Interstate land sales............. 1 1
Appropriation:
05.01 Interstate land sales............. -1 -1
07.99 Total balance, end of year........
---------------------------------------------------------------------------
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-5270-0-2-376 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
25.2)........................... 1 1
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 1 1
23.95 New obligations................... -1 -1
----------------------------------------------------------------------------
New budget authority (gross), detail:
60.25 Appropriation (special fund,
indefinite)..................... 1 1
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 1 1
73.20 Total outlays (gross)............. -1 -1
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 1 1
--------- --------- ----------
87.00 Total outlays (gross)........... 1 1
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 1 1
90.00 Outlays........................... 1 1
---------------------------------------------------------------------------
The Interstate Land Sales Full Disclosure Act provides protection to
the public with respect to purchases or leases of subdivision lots.
Statements of record must be filed with the Secretary before
subdivisions with 100 or more lots may be sold in interstate commerce,
except when the subdivision is eligible for exemption.
The Secretary is authorized to charge a fee, to be paid by the
developer when filing a statement of record. The fee receipts are
permanently appropriated and have helped finance a portion of the direct
administrative expenses incurred in program operations.
Public enterprise funds:
Title IV--Corporations
Corporations and agencies of the Department of Housing and Urban
Development which are subject to the Government Corporation Control Act,
as amended, are hereby authorized to make such expenditures, within the
limits of funds and borrowing authority available to each such
corporation or agency and in accord with law, and to make such contracts
and commitments without regard to fiscal year limita
[[Page 525]]
tions as provided by section 104 of the Act as may be necessary in
carrying out the programs set forth in the budget for 1997 for such
corporation or agency except as hereinafter provided: Provided, That
collections of these corporations and agencies may be used for new loan
or mortgage purchase commitments only to the extent expressly provided
for in this Act (unless such loans are in support of other forms of
assistance provided for in this or prior appropriations Acts), except
that this proviso shall not apply to the mortgage insurance or guaranty
operations of these corporations, or where loans or mortgage purchases
are necessary to protect the financial interest of the United States
Government.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Rental Housing Assistance Fund
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4041-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
25.2)........................... 61 61 57
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.90 Unobligated balance available,
start of year: Fund balance..... 1 1 1
22.00 New budget authority (gross)...... 61 61 57
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 62 62 58
23.95 New obligations................... -61 -61 -57
24.90 Unobligated balance available, end
of year: Fund balance........... 1 1 1
----------------------------------------------------------------------------
New budget authority (gross), detail:
68.00 Spending authority from offsetting
collections (gross): Offsetting
collections (cash).............. 61 61 57
----------------------------------------------------------------------------
Change in unpaid obligations:
72.90 Unpaid obligations, start of year:
Obligated balance: Fund balance. 3 8
73.10 New obligations................... 61 61 57
73.20 Total outlays (gross)............. -56 -69 -57
74.90 Unpaid obligations, end of year:
Obligated balance: Fund balance. 8
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 53 61 57
86.98 Outlays from permanent balances... 3 8
--------- --------- ----------
87.00 Total outlays (gross)........... 56 69 57
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -61 -61 -57
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... -5 8
---------------------------------------------------------------------------
The Housing and Urban Development Act of 1968 authorized the
Secretary to establish a revolving fund into which rental collections in
excess of the established basic rents for units in section 236
subsidized projects would be deposited.
The Housing and Community Development Amendment of 1978 authorized
the Secretary, subject to approval in appropriation acts, to transfer
excess rent collections received after 1978 to the Troubled Projects
Operating Subsidy program, renamed the Flexible Subsidy Fund. Prior to
that time, collections were used for paying tax and utility increases in
section 236 projects. The Housing and Community Development Act of 1980
amended the 1978 Act by authorizing the transfer of excess rent
collections regardless of when collected. This Budget proposes that the
resources from the Rental Housing Assistance Fund continue to be
transferred to the Flexible Subsidy Fund.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4041-0-3-604 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 65 61 61 57
0102 Expense........................... -60 -61 -61 -57
------------ -------------- ------------ -------------
0109 Net income or loss (-)............ 5
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4041-0-3-604 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
1101 Federal assets: Fund balances with
Treasury........................ 3 8 1 1
1206 Non-Federal assets: Receivables,
net............................. 7 7
------------ -------------- ------------ -------------
1999 Total assets.................... 10 15 1 1
LIABILITIES:
2101 Federal liabilities: Accounts
payable......................... 2 8
------------ -------------- ------------ -------------
2999 Total liabilities............... 3 8
NET POSITION:
3300 Cumulative results of operations.. 7 7 1 1
------------ -------------- ------------ -------------
3999 Total net position.............. 7 7 1 1
------------ -------------- ------------ -------------
4999 Total liabilities and net position 9 15 1 1
-----------------------------------------------------------------------------------------------
Flexible Subsidy Fund
From the fund established by section 236(g) of the National Housing
Act, as amended, all uncommitted balances of excess rental charges as of
September 30, 1996, and any collection during fiscal year 1997 shall be
transferred, as authorized under such section, to the fund authorized
under Section 201(j) of the Housing and Community Development Amendments
of 1978, as amended.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4044-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
41.0)........................... 143 82 73
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
Fund balance:
21.90 Fund balance: Uncommitted..... 52 73 72
21.90 Fund balance: administratively
committed................... 36
U.S. Securities:
Par value:
21.91 Par Value: Administratively
Committed................. 124 46 73
21.91 Par Value: Uncommitted...... 26
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 202 155 145
22.00 New budget authority (gross)...... 113 72 68
22.10 Resources available from
recoveries of prior year
obligations..................... 1
22.30 Unobligated balance expiring...... -17
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 299 227 213
23.95 New obligations................... -143 -82 -73
Unobligated balance available, end of year:
Fund balance:
24.90 Fund balance, Uncommitted..... 73 72 140
24.90 Fund balance: Administratively
Committed................... 36
24.91 U.S. Securities: Par Value
Administratively Committed.... 46 73
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 155 145 140
----------------------------------------------------------------------------
New budget authority (gross), detail:
Current:
40.00 Appropriation................... 42
Permanent:
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 71 72 68
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 113 72 68
----------------------------------------------------------------------------
[[Page 526]]
Change in unpaid obligations:
Unpaid obligations, start of year:
Obligated balance:
72.41 U.S. Securities: Par value.... 114 38
72.90 Fund balance.................. 99
--------- --------- ----------
72.99 Total unpaid obligations,
start of year............... 99 114 38
73.10 New obligations................... 143 82 73
73.20 Total outlays (gross)............. -128 -159 -56
73.45 Adjustments in unexpired accounts. -1
74.41 Unpaid obligations, end of year:
Obligated balance: U.S.
Securities: Par value........... 114 38 55
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 128 82 28
86.98 Outlays from permanent balances... 76 28
--------- --------- ----------
87.00 Total outlays (gross)........... 128 159 56
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.00 Federal sources............... -60 -61 -57
88.20 Interest on U.S. securities... -9 -9 -9
88.40 Non-Federal sources........... -2 -2 -2
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -71 -72 -68
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 42
90.00 Outlays........................... 57 87 -12
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4044-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 459 584 741
1231 Disbursements: Direct loan
disbursements................... 126 159 56
1251 Repayments: Repayments and
prepayments..................... -1 -2 -2
--------- --------- ----------
1290 Outstanding, end of year........ 584 741 795
---------------------------------------------------------------------------
The Flexible Subsidy Fund assisted financially troubled subsidized
projects under certain FHA authorities. The subsidies were intended to
prevent potential losses to the FHA fund resulting from project
insolvency and to preserve these projects as a viable source of housing
for low and moderate-income tenants. Priority was given to projects with
Federal insurance-in-force and then to those with mortgages that had
been assigned to the Department of Housing and Urban Development.
A portion of Flexible Subsidy capital improvement loans were used,
along with incentives available in the Emergency Low-Income Housing
Preservation program, to extend affordability requirements for projects
eligible to prepay mortgages.
The budget assumes that the account will continue to serve as a
repository of excess rental charges appropriated from the Rental Housing
Assistance Fund. Although these resources will no longer be used for new
reservations, they would continue to offset Flexible Subsidy outlays and
other discretionary expenditures.
Summary of Administrative Commitments
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Program by activities:
Capital investments:
Flexible subsidy reservations... 103 73
Administrative commitments,
start of year................. 124 82 73
Cancellation of prior year
commitments................... -1
Administrative commitments, end
of year....................... -82 -73
------------------------------------
Capital investment--
obligations................. 143 82 73
====================================
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4044-0-3-604 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 70 71 70 66
0102 Expense........................... -67 -86 -137 -48
------------ -------------- ------------ -------------
0109 Net income or loss (-)............ 3 -15 -67 18
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4044-0-3-604 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 151 126 109 194
Investments in US securities:
1102 Treasury securities, par...... 150 82 73
1106 Receivables, net.............. 2 6
1206 Non-Federal assets: Receivables,
net............................. 2
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 459 584 741 795
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -413 -493 -667 -715
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 46 91 74 80
1901 Other Federal assets: Other assets 29 26
------------ -------------- ------------ -------------
1999 Total assets.................... 380 331 256 274
LIABILITIES:
2201 Non-Federal liabilities: Accounts
payable......................... 2
------------ -------------- ------------ -------------
2999 Total liabilities............... 2
NET POSITION:
3100 Appropriated capital.............. 175 217 217 217
3300 Cumulative results of operations.. 205 112 40 57
------------ -------------- ------------ -------------
3999 Total net position.............. 380 329 257 274
------------ -------------- ------------ -------------
4999 Total liabilities and net position 380 331 257 274
-----------------------------------------------------------------------------------------------
Homeownership Assistance Fund
Unavailable Collections (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4043-0-3-376 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Balance, start of year:
01.99 Balance, start of year............ 4
--------- --------- ----------
03.00 Offsetting Collections............ 4 4
04.00 Total: Balances and collections... 4 8
07.99 Total balance, end of year........ 4 8
---------------------------------------------------------------------------
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4043-0-3-376 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
21.49 Contract authority.............. 56 56 56
21.90 Fund balance.................... 4 2 2
21.91 U.S. Securities: Par value...... 43 49 49
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 103 107 107
22.00 New budget authority (gross)...... 4
22.20 Unobligated balance transferred... 2
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 109 107 107
23.95 New obligations...................
Unobligated balance available, end of year:
24.49 Contract authority.............. 56 56 56
24.90 Fund balance.................... 2 2 2
24.91 U.S. Securities: Par value...... 49 49 49
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 107 107 107
----------------------------------------------------------------------------
New budget authority (gross), detail:
Spending authority from offsetting
collections:
68.00 Offsetting collections (cash)... 4 4 4
68.45 Portion not available for
obligation (limitation on
obligations).................. -4 -4
--------- --------- ----------
[[Page 527]]
68.90 Spending authority from
offsetting collections
(total)..................... 4
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 4
----------------------------------------------------------------------------
Change in unpaid obligations:
Unpaid obligations, start of year:
72.90 Obligated balance: Fund balance. 2 1
72.95 Orders on hand from Federal
sources.......................
--------- --------- ----------
72.99 Total unpaid obligations,
start of year............... 2 1
73.10 New obligations...................
73.20 Total outlays (gross).............
74.90 Unpaid obligations, end of year:
Obligated balance: Fund balance. 1
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total outlays (gross).............
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.00 Federal sources: Interest on
U.S. securities............. -3 -3 -3
88.40 Non-Federal sources........... -1 -1 -1
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -4 -4 -4
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. -4 -4
90.00 Outlays........................... -4 -4 -4
---------------------------------------------------------------------------
The Homeownership Assistance Fund was established by the Housing and
Urban-Rural Recovery Act of 1983. It provided for the receipt of
recaptures of budget authority, cash, and interest earnings under the
restructured section 235 program. The funds were authorized to be used,
to the extent approved in Appropriation Acts, by the Secretary to
provide additional section 235 assistance payments for mortgagors who
are unable to assume the full payment due under the mortgage after the
termination of the original 10-year assistance payments contract.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4043-0-3-376 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 4 4 4 4
0102 Expense...........................
------------ -------------- ------------ -------------
0109 Net income or loss (-)............ 4 4 4 4
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4043-0-3-376 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 3 2 3 3
Investments in US securities:
1102 Treasury securities, par...... 43 49 51 55
1106 Receivables, net.............. 1
------------ -------------- ------------ -------------
1999 Total assets.................... 47 51 54 58
NET POSITION:
3300 Cumulative results of operations.. 47 51 55 58
------------ -------------- ------------ -------------
3999 Total net position.............. 47 51 55 58
-----------------------------------------------------------------------------------------------
Nehemiah Housing Opportunity Fund
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4071-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
33.0)........................... 8
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
21.40 Uninvested balance..............
21.90 Fund balance.................... 19 18 18
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 19 18 18
22.00 New budget authority (gross)...... -10
22.10 Resources available from
recoveries of prior year
obligations..................... 18
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 27 18 18
23.95 New obligations................... -8
24.90 Unobligated balance available, end
of year: Fund balance........... 18 18 18
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.36 Unobligated balance rescinded..... -10
----------------------------------------------------------------------------
Change in unpaid obligations:
Unpaid obligations, start of year:
72.90 Obligated balance: Fund balance. 32 18
--------- --------- ----------
72.99 Total unpaid obligations,
start of year............... 32 18
73.10 New obligations................... 8
73.20 Total outlays (gross)............. -5 -18
73.45 Adjustments in unexpired accounts. -18
Unpaid obligations, end of year:
74.90 Obligated balance: Fund balance. 18
--------- --------- ----------
74.99 Total unpaid obligations, end
of year..................... 18
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 5 18
--------- --------- ----------
87.00 Total outlays (gross)........... 5 18
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. -10
90.00 Outlays........................... 5 18
---------------------------------------------------------------------------
The Nehemiah grants program was authorized by the Housing and
Community Development Act of 1987 to provide loans to eligible families
to assist in the purchase of new or substantially rehabilitated units.
This schedule reflects the liquidation of remaining reserved obligated
balances.
Credit accounts:
FHA--Mutual Mortgage Insurance Program Account
(including transfers of funds)
During fiscal year 1997, commitments to guarantee loans to carry out
the purposes of section 203(b) of the National Housing Act, as amended,
shall not exceed a loan principal of $110,000,000,000: Provided, That
during fiscal year 1997, the Secretary shall sell assigned mortgage
notes having an unpaid principal balance of up to $2,000,000,000, which
notes were originally insured under section 203(b) of the National
Housing Act: Provided further, That the Secretary may use the amount of
any negative subsidy resulting from the sale of such assigned mortgage
notes during fiscal year 1997 for purposes included under this heading.
During fiscal year 1997, obligations to make direct loans to carry
out the purposes of section 204(g) of the National Housing Act, as
amended, shall not exceed $200,000,000: Provided, That the foregoing
amount shall be for loans to nonprofit and governmental entities in
connection with sales of single family real properties owned by the
Secretary and formerly insured under section 203 of such Act.
For administrative expenses necessary to carry out the guaranteed
and direct loan program, $350,595,000 to be derived from the FHA-mutual
mortgage insurance guaranteed loans receipt account, of which not to
exceed $343,483,000 shall be transferred to the appropriation for
departmental salaries and expenses; and of which not to exceed
$7,112,000 shall be transferred to the appropriation for the Office of
Inspector General.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Unavailable Collections (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0183-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Balance, start of year:
01.99 Balance, start of year............ 2,385
[[Page 528]]
Receipts:
02.01 FHA Mutual Mortgage Insurance
Guaranteed Loan, negative
subsidies....................... 309 1,500 1,255
02.02 FHA Mutual Mortgage Insurance
Guaranteed Loan, negative
subsidies, addition to 1996
Continuing Resolution level..... 1,066
02.03 FHA Mutual Mortgage Insurance
Guaranteed Loan, negative
subsidies, legislative proposal. 161 260
--------- --------- ----------
02.99 Total receipts.................. 309 2,727 1,515
--------- --------- ----------
04.00 Total: Balances and collections... 309 2,727 3,900
Appropriation:
05.01 FHA mutual mortgage insurance
program account................. -309 -342 -351
07.99 Total balance, end of year........ 2,385 3,549
---------------------------------------------------------------------------
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0183-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.09 Administrative expenses........... 309 342 351
--------- --------- ----------
10.00 Total obligations (object class
25.3)......................... 309 342 351
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 309 342 351
23.95 New obligations................... -309 -342 -351
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.25 Appropriation (special fund,
indefinite)..................... 309 342 351
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 309 342 351
73.20 Total outlays (gross)............. -309 -342 -351
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 309 342 351
--------- --------- ----------
87.00 Total outlays (gross)........... 309 342 351
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 309 342 351
90.00 Outlays........................... 309 342 351
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0183-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
1150 Direct loan levels................ 200 200
----------------------------------------------------------------------------
Guaranteed loan levels supportable by subsidy
budget authority:
2150 MMI Fund, Section 203(b).......... 50,323 77,793 70,721
2150 Standby commitment authority...... 32,207 39,279
--------- --------- ----------
2159 Total loan guarantee levels..... 50,323 110,000 110,000
Guaranteed loan subsidy (in percent):
2320 Subsidy rate...................... -1.95 -2.77 -2.33
Guaranteed loan subsidy budget authority:
2330 MMI Section 203(b) negative
subsidy......................... -869 -1,316 -1,255
---------------------------------------------------------------------------
FHA will continue to serve first-time home buyers, minorities,
lower-income, and urban residents whom the conventional market does not
serve. It will seek greater flexibility in product design to tailor its
services to the needs of local markets and special populations. The
Department also proposes a demonstration program that tests risk-sharing
arrangements with various partners. To aid in the achievement of these
goals, the Administration is supporting the transformation of FHA into a
``Performance-Based Organization'' with flexibility in human resources
management, procurement, and other administrative functions. FHA will
continue to operate within HUD and will be led by executives operating
under term, performance-based contracts negotiated by the Secretary of
Housing and Urban Development.
Recent legislation requires FHA to develop a new loss mitigation
program. As a result, it is expected that future default claims,
assignment of defaulted mortgages, and property acquisitions will
decrease.
Credit Subsidy and Administrative Expenses.--As required by the
Federal Credit Reform Act of 1990, this account records, for this
program, the subsidy costs associated with the loan guarantees committed
in 1992 and thereafter, as well as administrative expenses of this
program. The subsidy amounts are estimated on a present value basis; the
administrative expenses are estimated on a cash basis.
FHA--Mutual Mortgage Insurance Program Account
(Legislative proposal, not subject to PAYGO)
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0183-2-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Guaranteed loan subsidy (in percent):
2320 Change to subsidy rate............ -0.39 -0.55
--------- --------- ----------
2329 Weighted average subsidy rate... -0.39 -0.55
Guaranteed loan subsidy budget authority:
2330 Change to negative subsidy........ -197 -260
--------- --------- ----------
2339 Guaranteed loan subsidy budget
authority..................... -197 -260
Guaranteed loan subsidy outlays:
2340 Increase in negative subsidy...... -197 -260
--------- --------- ----------
2349 Guaranteed loan subsidy outlays. -197 -260
---------------------------------------------------------------------------
This account summarizes the effect of pending legislation covering
insurance of Mutual Mortgage Insurance (MMI) fund mortgages originated
after September 30, 1995. The legislation encourages the use of
alternative loss mitigation tools, which would replace the single family
assignment program, for mortgages in default. This program account
reflects the changes in estimated negative subsidy rates and amounts in
1996 and later fiscal years. Separate pending legislation would provide
the same tools for mortgages originated prior to October 1, 1995; its
impact is reflected elsewhere in this Budget.
FHA--Mutual Mortgage Insurance Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4242-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loans...................... 200 200
00.02 Interest paid to Treasury......... 5 16
--------- --------- ----------
10.00 Total obligations............... 205 216
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New financing authority (gross)... 185 205 216
22.30 Unobligated balance expiring...... -185
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 205 216
23.95 New obligations................... -205 -216
----------------------------------------------------------------------------
New financing authority (gross), detail:
67.15 Authority to borrow (indefinite).. 178 197 193
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 7 8 23
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 185 205 216
----------------------------------------------------------------------------
[[Page 529]]
Change in unpaid obligations:
73.10 New obligations................... 205 216
73.20 Total financing disbursements
(gross)......................... -205 -214
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total financing disbursements
(gross)......................... 205 214
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.40 Other collections from non-
Federal sources............. -8 -23
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -8 -23
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 185 197 193
90.00 Financing disbursements........... 197 191
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government
resulting from direct loans obligated in 1992 and thereafter (including
modifications of direct loans that resulted from obligations in any
year). The amounts in this account are a means of financing and are not
included in the budget totals. The $200 million in 1997 direct loan
limitation in the MMI Fund would permit the Department to use Purchase
Money Mortgages (PMMs) to help finance the sale of acquired single
family properties. HUD would extend credit for these single-family homes
to community nonprofit organizations or local government entities who
would be expected to sell the properties to low- and medium-income
buyers. The use of PMMs provides a tool for State and local nonprofit
organizations to use in revitalizing communities, and creates enhanced
homeownership opportunities for low- and moderate-income families.
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4242-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........ 180 200 200
1112 Unobligated direct loan limitation -180
--------- --------- ----------
1150 Total direct loan obligations... 200 200
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 200
1231 Disbursements: Direct loan
disbursements................... 200 200
1251 Repayments: Repayments and
prepayments.....................
1263 Write-offs for default: Direct
loans........................... -1
--------- --------- ----------
1290 Outstanding, end of year........ 200 399
---------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4242-0-3-371 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Net value of assets related to
post-1991 direct loans
receivable:
1401 Direct loans receivable, gross.. 200 399
1402 Interest receivable............. 5 16
------------ -------------- ------------ -------------
1499 Net present value of assets
related to direct loans..... 205 415
------------ -------------- ------------ -------------
1999 Total assets.................... 205 415
-----------------------------------------------------------------------------------------------
FHA--Mutual Mortgage Insurance Guaranteed Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4587-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Default claims and other.......... 1,026 1,904 2,833
00.04 Working capital fund
reimbursements.................. 19 19
00.05 Payment of negative subsidy to
receipt account................. 309 1,363 1,275
00.06 Payment of negative subsidy to
liquidating account............. 560
00.07 Subsidy reestimate paid to
liquidating account............. 1,227
00.08 Interest payments to Treasury..... 77 13 13
00.09 Payment to liquidating account for
asset sale...................... 1,602 895
--------- --------- ----------
10.00 Total obligations............... 3,199 4,901 5,035
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.90 Unobligated balance available,
start of year: Fund balance..... 1,128 701 610
22.00 New financing authority (gross)... 2,772 4,810 4,827
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 3,900 5,511 5,437
23.95 New obligations................... -3,199 -4,901 -5,035
24.90 Unobligated balance available, end
of year: Fund balance........... 701 610 402
----------------------------------------------------------------------------
New financing authority (gross), detail:
67.15 Authority to borrow (indefinite).. 885 350
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 1,887 4,460 4,827
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 2,772 4,810 4,827
----------------------------------------------------------------------------
Change in unpaid obligations:
72.90 Unpaid obligations, start of year:
Obligated balance: Fund balance. -61 77 77
73.10 New obligations................... 3,199 4,901 5,035
73.20 Total financing disbursements
(gross)......................... -3,061 -4,901 -5,291
74.90 Unpaid obligations, end of year:
Obligated balance: Fund balance. 77 77 77
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total financing disbursements
(gross)......................... 3,061 4,901 5,291
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.25 Interest on uninvested funds.. -134
Non-Federal sources:
88.40 Fees and premiums........... -1,381 -2,008 -2,194
88.40 Recoveries on defaulted
notes..................... -372 -791 -1,253
88.40 Gross proceeds from asset
sales..................... -1,661 -1,380
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -1,887 -4,460 -4,827
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 885 350
90.00 Financing disbursements........... 1,175 441 464
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4587-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on commitments:
2111 Limitation on guaranteed loans
made by private lenders......... 100,000 110,000 110,000
2112 Uncommitted loan guarantee
limitation...................... -49,677 -32,207 -39,279
--------- --------- ----------
2150 Total guaranteed loan
commitments................... 50,323 77,793 70,721
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 184,190 222,021 252,379
2231 Disbursements of new guaranteed
loans........................... 40,142 51,543 58,592
2251 Repayments and prepayments........ -1,392 -19,450 -27,449
Adjustments:
2261 Terminations for default that
result in loans receivable.... -263 -453 -677
2262 Terminations for default that
result in acquisition of
property...................... -647 -1,260 -1,900
2263 Terminations for default that
result in claim payments...... -9 -22 -36
--------- --------- ----------
2290 Outstanding, end of year........ 222,021 252,379 280,909
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 222,021 252,379 280,909
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 152 413 841
[[Page 530]]
2331 Disbursements for guaranteed
loan claims................... 263 453 677
2351 Repayments of loans receivable.. -1 -14 -860
2364 Other adjustments, net.......... -1 -11 -552
--------- --------- ----------
2390 Outstanding, end of year...... 413 841 106
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government
resulting from loan guarantees committed in 1992 and thereafter. The
amounts in this account are considered a means of financing and are not
included in the budget totals.
Balance Sheet (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4587-0-3-371 1995 actual\1\ 1996 est. 1997 est.
----------------------------------------------------------------------------
ASSETS:
1101 Federal assets: Fund balances with
Treasury........................ 777 336 742
Net value of assets related to post-1991
acquired defaulted guaranteed loans
receivable:
1501 Defaulted guaranteed loans
receivable, gross............. 413 841 105
1504 Foreclosed property............. 324 584 906
1505 Allowance for subsidy cost...... -429 -851 -356
--------- --------- ----------
1599 Net value of assets related to
defaulted guaranteed loan... 308 574 655
--------- --------- ----------
1999 Total assets.................... 1,085 910 1,397
LIABILITIES:
2103 Federal liabilities: Federal
liabilities, Debt............... 1,171 771 521
2204 Non-Federal liabilities:
Liabilities for loan guarantees. -86 139 876
--------- --------- ----------
2999 Total liabilities............... 1,085 910 1,397
NET POSITION:
3300 Cumulative results of operations..
--------- --------- ----------
3999 Total net position..............
--------- --------- ----------
4999 Total liabilities and net position 1,085 910 1,397
---------------------------------------------------------------------------
\1\ Preliminary results pending final audit. Subsidy reestimates for
1995 will be performed for the mid-session review of the Budget.
FHA--Mutual Mortgage and Cooperative Housing Insurance Funds Liquidating
Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4070-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
Operating expenses:
00.03 Other operating costs........... 59 93 98
00.04 Working Capital Fund
reimbursements................ 30 30
00.05 Participation payments.......... 2 2 2
--------- --------- ----------
00.91 Total operating expenses...... 61 125 130
Capital investment:
01.02 Assignment of defaulted
mortgages..................... 606 502 395
01.03 Acquisition of real properties.. 2,427 1,397 1,099
01.05 Acquisition of other assets..... 39 39 39
01.07 Capitalized property expenses... 344 238 168
01.08 Loss on defaulted guaranteed
loans......................... 2 4 3
01.09 Preforeclosure sale claims...... 15 19 15
--------- --------- ----------
01.91 Total capital investment...... 3,433 2,199 1,719
--------- --------- ----------
10.00 Total obligations............... 3,494 2,324 1,849
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
21.90 Fund balance.................... -416 -163 -636
U.S. Securities:
21.91 Par value..................... 5,726 6,673 8,633
21.92 Unrealized discounts.......... -36 -64 -64
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 5,274 6,446 7,933
22.00 New budget authority (gross)...... 4,664 3,811 2,565
22.10 Resources available from
recoveries of prior year
obligations..................... 1
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 9,939 10,257 10,498
23.95 New obligations................... -3,494 -2,324 -1,849
Unobligated balance available, end of year:
24.90 Fund balance.................... -163 -636 -639
U.S. Securities:
24.91 Par value..................... 6,673 8,633 9,353
24.92 Unrealized discounts.......... -64 -64 -65
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 6,446 7,933 8,649
----------------------------------------------------------------------------
New budget authority (gross), detail:
Current:
40.75 Reduction pursuant to P.L. 103-
327........................... -1
Permanent:
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 4,664 3,811 2,565
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 4,664 3,811 2,565
----------------------------------------------------------------------------
Change in unpaid obligations:
72.90 Unpaid obligations, start of year:
Obligated balance: Fund balance. 661 659 659
73.10 New obligations................... 3,494 2,324 1,849
73.20 Total outlays (gross)............. -3,495 -2,324 -1,849
73.45 Adjustments in unexpired accounts. -1
74.90 Unpaid obligations, end of year:
Obligated balance: Fund balance. 659 659 659
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 2,834 1,665 1,190
86.98 Outlays from permanent balances... 661 659 659
--------- --------- ----------
87.00 Total outlays (gross)........... 3,495 2,324 1,849
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.20 Interest on U.S. securities... -408 -461 -529
Non-Federal sources:
88.40 Fees and premiums........... -146 -126 -110
88.40 Rebate of unearned prepaid
premiums collected........ 222 71 31
88.40 Proceeds from sale of real
property.................. -2,221 -1,406 -1,023
88.40 Proceeds from sale of
mortgage notes............ -1,603 -734
88.40 Repayment of mortgage notes
and sales contracts....... -1 -1
88.40 Interest and operating
income.................... -22 -22 -22
88.40 Recoveries on defaulted
mortgages................. -319 -240 -154
88.40 Other interest, dividends
and revenues.............. -1 -1 -1
88.40 Payment from financing
account................... -1,787
88.40 Miscellaneous collections... -16 -5 -5
88.40 Other income................ 34 -17 -17
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -4,664 -3,811 -2,565
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. -1
90.00 Outlays........................... -1,169 -1,487 -716
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4070-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 17 15 13
1251 Repayments: Repayments and
prepayments..................... -2 -1 -1
1264 Write-offs for default: Other
adjustments, net................ -1 -1
--------- --------- ----------
1290 Outstanding, end of year........ 15 13 11
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4070-0-3-371 1995 actual\1\ 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 118,688 96,145 81,535
2251 Repayments and prepayments........ -19,493 -12,391 -9,015
Adjustments:
2261 Terminations for default that
result in loans receivable.... -606 -502 -395
2262 Terminations for default that
result in acquisition of
property...................... -2,427 -1,398 -1,099
[[Page 531]]
2263 Terminations for default that
result in claim payments...... -17 -23 -17
2264 Other adjustments, net.......... -296
--------- --------- ----------
2290 Outstanding, end of year........ 96,145 81,535 71,009
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 96,145 81,535 71,009
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 3,642 3,886 1,801
2331 Disbursements for guaranteed
loan claims................... 606 502 395
2351 Repayments of loans receivable.. -192 -1,747 -844
2361 Write-offs of loans receivable.. -16
2364 Other adjustments, net.......... -154 -840 -510
--------- --------- ----------
2390 Outstanding, end of year...... 3,886 1,801 842
---------------------------------------------------------------------------
\1\ Unaudited preliminary results.
The Federal Housing Administration Fund currently consists of four
separate insurance funds. Prior to 1992, all budget transactions for the
four funds were reflected in a single consolidated budget account (86-
4070). Beginning in 1992, the transactions of the Fund appear in six
separate accounts. (However, financial data for each individual
insurance fund are continuing to be maintained for control and reporting
purposes.)
In order to present more clearly the operations of the various
funds, FHA's budget transactions were separated into two major business
segments. The basic single-family insurance programs in the Mutual
Mortgage Insurance Fund and the multifamily Cooperative Management
Housing insurance funds (MMI/CMHI) form one segment. The basic
multifamily and other specialized insurance programs in the General
Insurance and Special Risk Insurance funds (GI/SRI) form the other.
The Federal Credit Reform Act of 1990 creates a structure of three
accounts for existing credit programs. For each of the FHA business
segments (MMI/CMHI and GI/SRI) there is a liquidating account, which
records the revenues and costs associated with loan insurance committed
prior to October 1, 1991; a financing account which records the revenues
and costs associated with commitments to insure loans made after
September 30, 1991; and, a program account which records the
transactions associated with the program subsidy costs, if any, and the
costs of administering the program.
This liquidating account records, for this program, all cash flows
to and from the Government resulting from MMI/CMHI loan guarantees
committed prior to fiscal year 1992, and is shown on a cash basis. All
new activity in this program in 1992 and thereafter (including
modifications of loan guarantees that resulted from commitments in any
year) is recorded in the corresponding program (86-0183) and financing
(86-4587 and 86-4242) accounts.
The program activity in the ``Program Highlights'' table shown below
reflects only the activity in the MMI/CMHI liquidating and financing
accounts. The GI/SRI program activity can be found with the GI/SRI
liquidating account (86-4072).
PROGRAM HIGHLIGHTS
[In millions of dollars]
1995
actual\1\ 1996 est. 1997 est.
Insurance initiation:
Mortgage insurance applications
(units)......................... 735,946 1,014,871 902,983
====================================
Mortgage insurance written:
Units............................. 534,082 659,141 645,022
Amount............................ 40,142 51,543 51,250
====================================
Insurance maintenance: Outstanding
balance of insurance in force,
end of year:
Mortgage insurance................ 318,166 333,915 351,919
====================================
\1\ Unaudited preliminary results.
Insurance reserves from operations at the end of 1995 are estimated
to be in a surplus position for the Mutual Mortgage Insurance and
Cooperative Management Housing insurance funds. The status of estimated
insurance reserves from operations (retained income or deficit) through
1997 for the MMI/CMHI account follows:
STATUS OF INSURANCE RESERVES FROM OPERATIONS
[In millions of dollars]
1995 est.\1\ 1996 est. 1997 est.
Insurance fund:
Mutual mortgage/CMHI:
Liquidating account \2\......... 6,902 7,390 7,234
\1\ Unaudited preliminary results.
\2\ Reflects impact from the transfer of negative subsidy from the
Financing account to the Liquidating account in 1995 only. Negative
subsidy transfers are to the Receipt Account in 1996 and 1997.
Financial condition.--The following tables reflect the revenues,
expenses and financial condition of the MMI/CMHI liquidating funds based
on Generally Accepted Accounting Principles.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4070-0-3-371 1994
actual\1\ 1995 actual\2\ 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 4,531 2,821 2,239 1,573
0102 Expense........................... -1,392 -1,123 -1,011 -926
------------ -------------- ------------ -------------
0109 Net income or loss (-)............ 3,139 1,698 1,228 647
-----------------------------------------------------------------------------------------------
\1\ As reflected in the 1996 Budget.
\2\ Estimated result on GAAP basis pending final audit.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4070-0-3-371 1994
actual\1\ 1995 actual\2\ 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 245 495 23 21
Investments in US securities:
Treasury securities, par:
1102 Treasury securities, par.... 5,726 6,673 8,633 9,353
1102 Unamortized net premium/
discount.................. -46 -67 -67 -67
1106 Receivables, net.............. 97 123 123 123
1107 Advances and prepayments...... 72 72 72
Non-Federal assets:
1206 Receivables, net................ 172 159 159 159
1207 Advances and prepayments........ 7 12 12 12
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 17 15 13 11
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -3 -3 -3 -2
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 14 12 10 9
1701 Defaulted guaranteed loans,
gross......................... 3,642 3,886 1,800 842
1703 Allowance for estimated
uncollectible loans and
interest (-).................. -686 -738 -342 -160
1704 Defaulted guaranteed loans and
interest receivable, net...... 2,956 3,148 1,458 682
1705 Allowance for uncollectables
from foreclosed property...... -526 -351 -263
1706 Foreclosed property............. 1,103 1,379 923 691
------------ -------------- ------------ -------------
1799 Value of assets related to
loan guarantees............. 4,059 4,001 2,030 1,110
1901 Other Federal assets: Other assets 18 35
------------ -------------- ------------ -------------
1999 Total assets.................... 10,274 11,480 11,013 10,827
LIABILITIES:
2101 Federal liabilities: Accounts
payable......................... 14 4 4 4
Non-Federal liabilities:
2201 Accounts payable................ 578 496 496 496
2206 Pension and other actuarial
liabilities................... 2,177 2,254 2,254 2,254
2207 Unearned revenue and advances... 1,403 1,805 1,734 1,703
------------ -------------- ------------ -------------
2999 Total liabilities............... 4,172 4,559 4,488 4,457
NET POSITION:
3100 Appropriated capital.............. 19 19 19 19
3300 Cumulative results of operations.. 6,083 6,902 6,506 6,350
------------ -------------- ------------ -------------
3999 Total net position.............. 6,102 6,921 6,525 6,369
------------ -------------- ------------ -------------
[[Page 532]]
4999 Total liabilities and net position 10,274 11,480 11,013 10,826
-----------------------------------------------------------------------------------------------
\1\ As reflected in the 1996 Budget.
\2\ Preliminary results pending final audit.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4070-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
25.2 Other services.................... 59 123 128
32.0 Land and structures............... 2,771 1,635 1,267
33.0 Investments and loans............. 645 541 434
42.0 Insurance claims and indemnities.. 17 23 18
44.0 Refunds........................... 2 2 2
99.0 Subtotal, reimbursable obligations 3,494 2,324 1,849
--------- --------- ----------
99.9 Total obligations............... 3,494 2,324 1,849
---------------------------------------------------------------------------
FHA--General and Special Risk Program Account
(including transfers of funds)
For the costs of guaranteed loans, as authorized by sections 238 and
519 of the National Housing Act (12 U.S.C. 1715z-3 and 1735c), including
the cost of loan guarantee modifications (as that term is defined in
section 502 of the Congressional Budget Act of 1974, as amended),
$160,000,000, to remain available until expended: Provided, That these
funds are available to subsidize total loan principal, any part of which
is to be guaranteed, of up to $17,400,000,000: Provided further, That
during fiscal year 1997, the Secretary shall sell assigned mortgage
notes having an unpaid principal balance of up to $2,500,000,000, which
notes are held by the Secretary under the General Insurance and Special
Risk Insurance funds: Provided further, That of the amount provided, up
to $75,000,000 shall be derived from negative subsidy in the General
Insurance and Special Risk Insurance receipt account resulting from the
sale of such assigned mortgage notes: Provided further, That in addition
to amounts otherwise provided herein, the Secretary may use 25 percent
of any negative subsidy in excess of $75,000,000 (but not to exceed
$25,000,000) resulting from such mortgage note sales during fiscal year
1997 for the costs of such guaranteed loans and for administrative
expenses.
Gross obligations for the principal amount of direct loans, as
authorized by sections 204(g), 207(l), 238(a), and 519(a) of the
National Housing Act, shall not exceed $120,000,000; of which not to
exceed $100,000,000 shall be for bridge financing in connection with the
sale of multifamily real properties owned by the Secretary and formerly
insured under such Act; and of which not to exceed $20,000,000 shall be
for loans to nonprofit and governmental entities in connection with the
sale of single-family real properties owned by the Secretary and
formerly insured under such Act.
In addition, for administrative expenses necessary to carry out the
guaranteed and direct loan programs, $207,470,000, of which $203,299,000
shall be transferred to the appropriation for Salaries and Expenses; and
of which $4,171,000 shall be transferred to the appropriation for the
Office of Inspector General.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Unavailable Collections (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0200-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Balance, start of year:
01.99 Balance, subsidy downward
reestimate, start of year....... 803 1,209 2,944
Receipts:
02.01 Negative Subsidies................ 525 434 267
02.02 Negative Subsidies, legislative
proposal........................ 1,386
--------- --------- ----------
02.99 Total receipts.................. 525 1,820 267
--------- --------- ----------
04.00 Total: Balances and collections... 1,328 3,029 3,211
Appropriation:
05.01 General and special risk program
account......................... -119 -85 -75
07.99 Total balance, end of year........ 1,209 2,944 3,136
---------------------------------------------------------------------------
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0200-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.02 Guaranteed loan subsidy........... 89 155 160
00.03 Section 221(g)(4) auction......... 34
00.04 FHA Multifamily Demonstration..... 30
00.09 Administrative expenses........... 197 202 207
--------- --------- ----------
10.00 Total obligations............... 286 421 367
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
Uninvested balance:
21.40 Uncommitted................... 31
21.40 Administratively Committed.... 69 30
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 100 30
22.00 New budget authority (gross)...... 386 351 367
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 386 451 397
23.95 New obligations................... -286 -421 -367
Unobligated balance available, end of year:
Uninvested balance:
24.40 Uncommitted................... 31
24.40 Administratively Committed.... 69 30 30
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 100 30 30
----------------------------------------------------------------------------
New budget authority (gross), detail:
Appropriation:
40.00 Appropriation................... 267 202 292
40.00 Appropriation, 221(g)(4) auction 34
40.00 FHA Multifamily Demonstration... 30
40.25 Appropriation (special fund,
indefinite)..................... 119 85 75
--------- --------- ----------
43.00 Appropriation (total)........... 386 351 367
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 386 351 367
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 59 30 35
73.10 New obligations................... 286 421 367
73.20 Total outlays (gross)............. -315 -416 -367
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 30 35 35
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 280 317 303
86.93 Outlays from current balances..... 35 100 64
--------- --------- ----------
87.00 Total outlays (gross)........... 315 416 367
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 386 351 367
90.00 Outlays........................... 315 416 367
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0200-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
1150 Single-family PMMs................ 20 20 20
1150 Multifamily bridge loans.......... 200 100 100
--------- --------- ----------
1159 Total direct loan levels........ 220 120 120
----------------------------------------------------------------------------
Guaranteed loan levels supportable by subsidy
budget authority:
2150 Multifamily development........... 755 805 1,538
2150 Refinance of FHA-insured mortgages 937 1,199 1,249
2150 Risk sharing programs............. 452 571
2150 Mixed Income...................... 90
2150 Cooperatives...................... 45
2150 Health and residential care
facilities...................... 814 1,200 1,805
2150 Indian Housing.................... 2
2150 Preservation...................... 844 542 150
2150 Single family, negative........... 5,081 5,750 5,750
2150 Title I guarantees................ 1,255 1,757 2,304
[[Page 533]]
2150 Standby commitment authority...... 5,576 4,467
--------- --------- ----------
2159 Total loan guarantee levels..... 10,138 17,400 17,400
Guaranteed loan subsidy (in percent):
2320 Multifamily development........... 13.40 11.93 8.78
2320 Refinance of multifamily mortgages 3.44 2.54 -0.79
2320 Risk sharing programs............. 5.97 5.00 0.00
2320 Mixed Income...................... 0.00 0.00 12.26
2320 Cooperatives...................... 0.00 0.00 30.47
2320 Health and residential care
facilities...................... -1.96 -2.31 0.00
2320 Preservation...................... -1.42 -1.87 0.00
2320 Single family programs............ -1.32 -1.34 -1.55
2320 Title I........................... -1.48 -1.49 -1.66
--------- --------- ----------
2329 Weighted average subsidy rate... -0.39 0.34 1.06
Guaranteed loan subsidy budget authority:
2330 Multifamily development........... 47 95 135
2330 Refinance......................... 18 31
2330 Risk sharing programs............. 24 29
2330 Mixed Income...................... 11
2330 Cooperatives...................... 14
--------- --------- ----------
2339 Total subsidy budget authority.. 89 155 160
Guaranteed loan subsidy outlays:
2340 Multifamily development........... 76 102 79
2340 Refinance......................... 40 18 28
2340 Risk sharing...................... 2 30 53
--------- --------- ----------
2349 Total subsidy outlays........... 118 150 160
----------------------------------------------------------------------------
Administrative expense data:
3510 Budget authority.................. 197 202 207
3590 Outlays from new authority........ 197 202 207
---------------------------------------------------------------------------
Multifamily Product Mix.--The FHA intends to phase out insuring
activity that has traditionally been performed under various sections of
the National Housing Act. The FHA seeks to streamline the delivery of
insurance products under two main categories: development and refinance.
The development category will include new construction, substantial
rehabilitation and risk sharing with various partners. The refinance
category will involve purchase, refinance, as well as risk sharing with
various institutions. Insurance of nursing home mortgages will be
separated into three categories: skilled nursing facilities; residential
care facilities; and mixed-use continuum facilities.
Subsidy Costs and Administrative Expenses.--As required by the
Federal Credit Reform Act of 1990, this account records, for the single
family, multifamily and Title I insurance programs of FHA's General and
Special Risk Insurance Funds, the subsidy costs associated with the loan
guarantees committed or direct loans obligated in 1992 and thereafter
(including modifications of loan guarantees or direct loans that
resulted from obligations or commitments in any year), as well as
administrative expenses of these programs. The subsidy amounts are
estimated on a present value basis; the administrative expenses are
accounted for on a cash basis.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0200-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
41.0 Direct obligations: Grants,
subsidies, and contributions.... 89 219 160
99.0 Reimbursable obligations:
Subtotal, reimbursable
obligations..................... 197 202 207
--------- --------- ----------
99.9 Total obligations............... 286 421 367
---------------------------------------------------------------------------
FHA--General and Special Risk Guaranteed Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4077-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
Capital investment, claims and other:
00.01 Default claims and other........ 189 481 489
00.03 Working Capital Fund
reimbursements................ 4 4 5
00.04 Payment of negative subsidy to
receipt account............... 132 122 119
00.05 Interest paid to Treasury....... 30 65 90
00.08 Asset sale negative subsidy
payment to receipt account.... 399 272 173
00.09 Asset sale payment to
liquidating account........... 566 964 726
00.10 Cost of mortgage note sales..... 30 66 62
00.11 Portfolio restructuring
legislation, modification
savings....................... 1,386
00.12 1996 Waiver of PD law, savings.. 40
--------- --------- ----------
10.00 Total obligations............. 1,350 3,400 1,664
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.90 Unobligated balance available,
start of year: Fund balance..... 272 435 1
22.00 New financing authority (gross)... 1,534 3,035 1,927
22.60 Redemption of debt................ -21 -70 -264
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 1,785 3,400 1,664
23.95 New obligations................... -1,350 -3,400 -1,664
24.90 Unobligated balance available, end
of year: Fund balance........... 435 1
----------------------------------------------------------------------------
New financing authority (gross), detail:
67.15 Authority to borrow (indefinite).. 1,032
Spending authority from offsetting
collections:
68.00 Offsetting collections (cash)... 1,552 1,999 1,927
68.10 Change in receivables from
program account............... -18 5
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total)..................... 1,534 2,004 1,927
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 1,534 3,035 1,927
----------------------------------------------------------------------------
Change in unpaid obligations:
Unpaid obligations, start of year:
72.40 Obligated balance: Appropriation -51 16 2
72.95 Receivables from program account 61 43 48
--------- --------- ----------
72.99 Total unpaid obligations,
start of year............... 10 59 50
73.10 New obligations................... 1,350 3,400 1,664
73.20 Total financing disbursements
(gross)......................... -1,301 -3,409 -1,595
Unpaid obligations, end of year:
74.40 Obligated balance: Appropriation 16 2 71
74.95 Receivables from program account 43 48 48
--------- --------- ----------
74.99 Total unpaid obligations, end
of year..................... 59 50 119
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 2,117 2,762
86.98 Outlays from permanent balances... 221 464
--------- --------- ----------
87.00 Total financing disbursements
(gross)....................... 1,301 3,409 1,595
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
Federal sources:
88.00 Payments from program
account................... -83 -253 -160
88.00 Modification adjustment
transfer from liquidating/
section 223(a)(7)......... -3 -3
88.00 Collections................. -25
88.25 Interest on uninvested funds.. -17
Non-Federal sources:
88.40 Fees and premiums........... -195 -241 -272
88.40 Recoveries on defaulted
mortgages................. -49 -131 -139
88.40 Interest and other income... -114 -134
88.40 Proceeds from sale of
mortgage notes............ -1,083 -1,160 -918
88.40 Repayment of principal and
interest from liquidating
account................... -97 -97 -304
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -1,552 -1,999 -1,927
88.95 Change in receivables from program
accounts........................ 18 -5
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 1,031
90.00 Financing disbursements........... -251 1,410 -332
---------------------------------------------------------------------------
[[Page 534]]
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4077-0-3-371 1995 actual\1\ 1996 est. 1997 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on commitments:
2111 Limitation on guaranteed loans
made by private lenders......... 20,885 17,400 17,400
2112 Uncommitted loan guarantee
limitation...................... -10,747 -16,323 -4,467
2113 Uncommitted limitation carried
forward......................... 10,747
--------- --------- ----------
2150 Total guaranteed loan
commitments................... 10,138 11,824 12,933
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 26,228 35,457 38,972
2231 Disbursements of new guaranteed
loans........................... 9,622 9,971 10,741
2251 Repayments and prepayments........ -214 -6,164 -5,066
Adjustments:
2261 Terminations for default that
result in loans receivable.... -55 -120 -55
2262 Terminations for default that
result in acquisition of
property...................... -122 -166 -196
2263 Terminations for default that
result in claim payments...... -2 -6 -7
--------- --------- ----------
2290 Outstanding, end of year........ 35,457 38,972 44,389
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 35,457 38,972 44,389
----------------------------------------------------------------------------
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 38 87 163
2331 Disbursements for guaranteed
loan claims................... 55 120 55
2351 Repayments of loans receivable.. -1 -1,180 -946
2361 Write-offs of loans receivable.. -6 272 173
2364 Other adjustments, net.......... 1 864 726
--------- --------- ----------
2390 Outstanding, end of year...... 87 163 171
---------------------------------------------------------------------------
\1\ Preliminary results pending final audit.
As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government
resulting from loan guarantees committed in 1992 and thereafter
(including modifications of loan guarantees that resulted from
commitments in any year) for FHA's General and Special Risk Insurance
Fund programs. The amounts in this account are a means of financing and
are not included in the budget totals.
Balance Sheet (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4077-0-3-371 1995 actual\1\ 1996 est. 1997 est.
----------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 451 344 324
Investments in US securities:
1107 Borrowings receivable from
liquidating account......... 476 1,665 1,461
Net value of assets related to post-1991
acquired defaulted guaranteed loans
receivable:
1501 Defaulted guaranteed loans
receivable, gross............. 87 163 171
1504 Foreclosed property............. 69 325 356
1505 Allowance for subsidy cost...... -77 -212 -273
--------- --------- ----------
1599 Net value of assets related to
defaulted guaranteed loan... 79 276 254
--------- --------- ----------
1999 Total assets.................... 1,006 2,285 2,039
LIABILITIES:
2103 Federal liabilities: Debt......... 476 1,665 1,461
2204 Non-Federal liabilities:
Liabilities for loan guarantees. 530 620 578
--------- --------- ----------
2999 Total liabilities............... 1,006 2,285 2,039
NET POSITION:
--------- --------- ----------
3999 Total net position..............
--------- --------- ----------
4999 Total liabilities and net position 1,006 2,285 2,039
---------------------------------------------------------------------------
\1\ Preliminary results pending final audit. Subsidy reestimates
will be performed for the Mid-Session review of the Budget.
FHA--General and Special Risk Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4105-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct Loans...................... 120 120
00.02 Interest paid to Treasury......... 4 13
--------- --------- ----------
10.00 Total obligations............... 124 133
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New financing authority (gross)... 124 133
23.95 New obligations................... -124 -133
----------------------------------------------------------------------------
New financing authority (gross), detail:
67.15 Authority to borrow (indefinite).. 120 120
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 4 13
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 124 133
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 124 133
73.20 Total financing disbursements
(gross)......................... -124 -133
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total financing disbursements
(gross)......................... 124 133
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.40 Interest received on loans.... -4 -13
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -4 -13
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 120 120
90.00 Financing disbursements........... 120 120
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4105-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........ 220 120 120
1112 Unobligated direct loan limitation -220
--------- --------- ----------
1150 Total direct loan obligations... 120 120
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 120
1231 Disbursements: Direct loan
disbursements................... 120 120
--------- --------- ----------
1290 Outstanding, end of year........ 120 240
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, this non-
budgetary account records all cash flows to and from the Government
resulting from direct loans obligated in 1992 and thereafter (including
loan modifications) for FHA's General and Special Risk Insurance Fund
programs. The amounts in this account are a means of financing and are
not included in the budget totals.
This schedule includes two direct loan programs. One provides bridge
loan financing to facilitate the disposition of multifamily housing
owned by the Department to non-profit organizations who agree to
preserve it as affordable rental or cooperative housing. The second is a
single-family direct loan program for purchase money mortgages, as
discussed in the preceding section for the Mutual Mortgage Insurance
Fund.
[[Page 535]]
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4105-0-3-371 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Net value of assets related to
post-1991 direct loans
receivable:
1401 Direct loans receivable, gross.. 120 240
1405 Allowance for subsidy cost (-)..
------------ -------------- ------------ -------------
1499 Net present value of assets
related to direct loans..... 120 240
------------ -------------- ------------ -------------
1999 Total assets.................... 120 240
LIABILITIES:
2103 Federal liabilities: Treasury
borrowing....................... 120 240
------------ -------------- ------------ -------------
2999 Total liabilities............... 120 240
NET POSITION:
3300 Cumulative results of operations..
------------ -------------- ------------ -------------
3999 Total net position..............
------------ -------------- ------------ -------------
4999 Total liabilities and net position 120 240
-----------------------------------------------------------------------------------------------
FHA--General and Special Risk Insurance Funds Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4072-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
Operating expenses:
00.02 Interest on debentures.......... 15 15 15
00.03 Other operating costs........... 45 137 142
00.04 Working capital fund
reimbursements................ 12 15
00.05 Repayment to financing account.. 97 97 97
00.06 Prior Year Adjustment........... 25
--------- --------- ----------
00.91 Total operating expenses...... 157 286 269
Capital investment: Claims and other:
01.01 Acquisition of defaulted Title I
notes......................... 29 21 15
01.02 Assignment of defaulted
mortgages..................... 488 1,160 1,183
01.03 Acquisition of real properties.. 325 479 416
01.04 Rehabilitation of real
properties.................... 724 229
01.06 Assignment of current mortgages. 4 1
01.07 Capitalized property expenses... 231 187 243
01.08 Loss on defaulted guaranteed
loans......................... 12 3 3
01.09 Interest subsidy on auctioned
mortgages..................... 4 1 4
01.10 Tax advances on held mortgages.. 90 90 90
--------- --------- ----------
01.91 Total capital investment...... 1,179 2,669 2,184
--------- --------- ----------
10.00 Total obligations............... 1,336 2,955 2,453
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
21.40 Uninvested balance.............. 1,040 1,637 767
21.91 U.S. Securities: Par value...... 15 5 5
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 1,055 1,642 772
22.00 New budget authority (gross)...... 1,947 2,126 2,275
22.10 Resources available from
recoveries of prior year
obligations..................... 42
22.60 Redemption of debt................ -66 -41 -41
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 2,978 3,727 3,006
23.95 New obligations................... -1,336 -2,955 -2,453
Unobligated balance available, end of year:
24.40 Uninvested balance.............. 1,637 767 548
24.91 U.S. Securities: Par value...... 5 5 5
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 1,642 772 553
----------------------------------------------------------------------------
New budget authority (gross), detail:
Current:
40.75 Procurement reduction pursuant
to P.L. 103-327............... -1
Permanent:
60.05 Appropriation (indefinite)...... 500
64.00 Proceeds of loan asset sales
with recourse................. 100
67.15 Authority to borrow (indefinite) 41 41 41
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 1,906 1,985 1,734
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 1,947 2,126 2,275
----------------------------------------------------------------------------
Change in unpaid obligations:
72.90 Unpaid obligations, start of year:
Obligated balance: Fund balance. 408 366 366
73.10 New obligations................... 1,336 2,955 2,453
73.20 Total outlays (gross)............. -1,336 -2,955 -2,453
73.45 Adjustments in unexpired accounts. -42
74.90 Unpaid obligations, end of year:
Obligated balance: Fund balance. 366 366 366
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 970 2,026 2,087
86.98 Outlays from permanent balances... 366 929 366
--------- --------- ----------
87.00 Total outlays (gross)........... 1,336 2,955 2,453
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
Non-Federal sources:
88.40 Fees and premiums........... -264 -241 -226
88.40 Rebates of insurance
premiums.................. 7 7 7
88.40 Multifamily foreclosure
sales..................... -24 -24 -24
88.40 Proceeds from sale of real
property.................. -320 -301 -263
88.40 Repayment of mortgage notes
and sales contracts....... -10 -10 -6
88.40 Proceeds from sale of
mortgage notes............ -566 -963 -726
88.40 Prior Year Adjustment....... 100
88.40 Recoveries from portfolio
restructuring............. -96
88.40 Recoveries on defaulted
mortgages................. -368 -262 -155
88.40 Interest and operating
income.................... -334 -231 -173
88.40 Recoveries on defaulted
Title I mortgages......... -22 -22 -17
88.40 Other interest, dividends
and revenue............... -34 -50
88.40 Miscellaneous collections... -5 -4 -5
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -1,906 -1,985 -1,734
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 41 141 541
90.00 Outlays........................... -571 970 719
---------------------------------------------------------------------------
Summary of Budget Authority and Outlays
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Enacted/requested:
Budget Authority.................. 40 141 541
Outlays........................... -570 970 719
Legislative proposal, not subject to
PAYGO:
Budget Authority.................. 1,051
Outlays........................... -142 1,051
------------------------------------
Total:
Budget Authority.................. 40 141 1,592
Outlays........................... -570 828 1,770
====================================
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4072-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 112 107 101
1251 Repayments: Repayments and
prepayments..................... -10 -6 -6
1264 Write-offs for default: Other
adjustments, net................ 5
--------- --------- ----------
1290 Outstanding, end of year........ 107 101 95
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4072-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 52,754 47,729 44,758
2251 Repayments and prepayments........ -4,171 -1,307 -593
Adjustments:
2261 Terminations for default that
result in loans receivable.... -517 -1,181 -1,198
2262 Terminations for default that
result in acquisition of
property...................... -325 -478 -416
2263 Terminations for default that
result in claim payments...... -12 -5 -3
--------- --------- ----------
2290 Outstanding, end of year........ 47,729 44,758 42,548
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 47,729 44,758 42,548
----------------------------------------------------------------------------
[[Page 536]]
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 6,822 5,201 3,420
2331 Disbursements for guaranteed
loan claims................... 517 1,181 1,199
2351 Repayments of loans receivable.. -990 -1,178 -1,023
2361 Write-offs of loans receivable
\1\........................... -417
2364 Other adjustments, net.......... -731 -1,784 -1,873
--------- --------- ----------
2390 Outstanding, end of year...... 5,201 3,420 1,723
---------------------------------------------------------------------------
\1\ Includes foreclosures of HUD-held mortgage notes.
The General insurance fund provides for a large number of
specialized mortgage insurance programs, including the insurance of
loans for property improvements as well as for cooperatives,
condominiums, housing for the elderly, rental housing and nonprofit
hospitals.
The Special risk insurance fund provides mortgage insurance on
behalf of mortgagors eligible for interest reduction payments who
otherwise would not be eligible for mortgage insurance. In addition, the
fund provides insurance on mortgages covering experimental housing where
strict adherence to State or local building regulations is not observed.
Also provided is insurance for high-risk mortgagors who normally would
not be eligible for mortgage insurance.
Budget program.--As required by the Federal Credit Reform Act of
1990, this account records, for this program, all cash flows to and from
the Government resulting from loan guarantees committed and direct loans
obligated prior to 1992. This account is shown on a cash basis. All new
activity in this program in 1992 and thereafter (including modifications
of loan guarantees that resulted from obligations, direct loans or
commitments in any year and direct loans) is recorded in corresponding
program (86-0200) and financing (86-4077 and 86-4105) accounts.
The detailed program activities in the ``Program Highlights'' table
shown below reflect the consolidated activity of the GI/SRI accounts.
PROGRAM HIGHLIGHTS
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Insurance initiation:
Mortgage insurance applications
(units)......................... 235,658 231,806 239,262
====================================
Mortgage insurance written:
Units............................. 190,953 171,634 179,832
Amount............................ 8,366 8,214 8,882
====================================
Title I property improvement loans
insured:
Notes............................. 93,107 116,000 138,000
Amount............................ 1,255 1,757 2,304
====================================
Insurance maintenance: Outstanding
balance of insurance in force,
end of year:
Mortgage insurance................ 78,052 78,537 80,290
Title I property improvement loan
insurance....................... 4,837 5,193 6,645
------------------------------------
Total outstanding balance of
insurance in force, end of
year........................ 82,889 83,730 86,935
====================================
Insurance reserves from operations at the end of 1995 are estimated
to be in a deficit status for the GI and SRI funds. The status of
estimated insurance reserves from operations (retained income or
deficit) for the GI/SRI Liquidating Account through 1997 is as follows:
STATUS OF INSURANCE RESERVES FROM OPERATIONS
[In millions of dollars]
1995 actual
\1\ 1996 est. 1997 est.
Insurance fund:
General and special risk
insurance:
Liquidating account............. -20,510 -22,180 -23,587
\1\ Preliminary results pending final audit.
Financial Condition.--The following tables reflect the revenues,
expenses, and financial condition of the GI/SRI Liquidating Account
based on Generally Accepted Accounting Principles.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4072-0-3-371 1994
actual\1\ 1995 actual\2\ 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 453 517 393 321
0102 Expense........................... -231 -563 -2,074 -1,717
------------ -------------- ------------ -------------
0109 Net income or loss (-)............ 222 -46 -1,681 -1,396
-----------------------------------------------------------------------------------------------
\1\ As reflected in the 1996 Budget.
\2\ Preliminary results pending final audit.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4072-0-3-371 1994
actual\1\ 1995 actual\2\ 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 579 1,134 262 42
Investments in US securities:
1102 Treasury securities, par...... 15 5 5 5
1106 Receivables, net.............. 4 3 4 4
1107 Advances and prepayments...... 20 20 20 20
Non-Federal assets:
1206 Receivables, net................ 140 98 98 98
1207 Advances and prepayments........ 547 75 75 75
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 112 107 101 95
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -24 -22 -21 -20
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 88 85 80 75
1701 Defaulted guaranteed loans,
gross......................... 6,822 5,201 3,420 1,723
1703 Allowance for estimated
uncollectible loans and
interest (-).................. -4,026 -2,460 -1,616 -814
1704 Defaulted guaranteed loans and
interest receivable, net...... 2,796 2,741 1,804 909
1705 Allowance for uncollectables
from foreclosed property...... -543 -626 -932
1706 Foreclosed property............. 288 734 846 1,260
------------ -------------- ------------ -------------
1799 Value of assets related to
loan guarantees............. 3,084 2,932 2,024 1,237
1901 Other Federal assets: Other assets 38 54 65
------------ -------------- ------------ -------------
1999 Total assets.................... 4,477 4,390 2,622 1,621
LIABILITIES:
Federal liabilities:
2101 Accounts payable................ 561 63 63 63
2102 Interest payable................ 7 6 6 6
2104 Resources payable to Treasury... 62 86 86 86
Non-Federal liabilities:
2201 Accounts payable................ 130 131 131 131
2202 Interest payable................ 18 21 21 21
2203 Debt............................ 112 408 311 208
2206 Pension and other actuarial
liabilities................... 10,702 9,997 9,996 9,996
Other:
2207 Unearned revenue and advances. 418 380 380 380
2207 Other......................... 50 50 50
------------ -------------- ------------ -------------
2999 Total liabilities............... 12,010 11,142 11,044 10,941
NET POSITION:
3100 Appropriated capital.............. 7,287 6,287 6,287 6,797
3300 Cumulative results of operations.. -22,291 -20,510 -22,180 -23,587
3600 Debt Forgiveness.................. 7,471 7,471 7,471 7,471
------------ -------------- ------------ -------------
3999 Total net position.............. -7,533 -6,752 -8,422 -9,319
------------ -------------- ------------ -------------
4999 Total liabilities and net position 4,477 4,390 2,622 1,622
-----------------------------------------------------------------------------------------------
\1\ As reflected in 1996 Budget.
\2\ Preliminary results pending final audit.
[[Page 537]]
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4072-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
25.2 Other services.................... 45 174 158
32.0 Land and structures............... 325 1,203 645
33.0 Investments and loans............. 607 1,274 1,288
41.0 Grants, subsidies, and
contributions................... 4 1 4
42.0 Insurance claims and indemnities.. 243 191 246
43.0 Interest and dividends............ 15 15 15
44.0 Repayment to financing account.... 97 97 97
99.0 Subtotal, reimbursable obligations 1,336 2,955 2,453
--------- --------- ----------
99.9 Total obligations............... 1,336 2,955 2,453
---------------------------------------------------------------------------
FHA--General and Special Risk Insurance Funds Liquidating Account
(Legislative proposal, subject to PAYGO)
Program and Financing [in millions of dollars]
----------------------------------------------------------------------------
Identification code 86-4072-2-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Repayment of portfolio
reengineering legislative
savings to the financing account 107
Capital investment: Claims and other:
01.01 Change to baseline claims....... -132 2,581
--------- --------- ----------
10.00 Total obligations............... -132 2,688
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 142
22.00 New budget authority (gross)...... 10 2,688
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 10 2,830
23.95 New obligations................... 132 -2,688
24.40 Unobligated balance available, end
of year: Uninvested balance..... 142 142
----------------------------------------------------------------------------
New budget authority (gross), detail:
60.05 Appropriation (indefinite)........ 1,051
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 10 1,637
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 10 2,688
----------------------------------------------------------------------------
Change in unpaid obligations:
72.90 Unpaid obligations, start of year:
Obligated balance: Fund balance.
73.10 New obligations................... -132 2,688
73.20 Total outlays (gross)............. 132 -2,688
74.90 Unpaid obligations, end of year:
Obligated balance: Fund balance.
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... -132 2,688
--------- --------- ----------
87.00 Total outlays (gross)........... -132 2,688
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
Non-Federal sources:
88.40 Fees and premiums........... 14
88.40 Portfolio reengineering
recoveries................ -10 -1,651
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -10 -1,637
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 1,051
90.00 Outlays........................... -142 1,051
---------------------------------------------------------------------------
This account summarizes the impact on the FHA GI/SRI Liquidating
Account of the Administration's proposal for reengineering of the
multifamily insurance portfolio. The account reflects the net changes to
projected future cash flows in the liquidating account arising from
portfolio restructuring activities. A net present value PAYGO savings of
$1.4 billion is estimated, which would be scored in the year of
enactment.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4072-2-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
25.2 Repayment of financing account
borrowing....................... 107
33.0 Investments and loans............. -132 2,581
99.0 Subtotal, reimbursable obligations -132 2,688
--------- --------- ----------
99.9 Total obligations............... -132 2,688
---------------------------------------------------------------------------
Housing for the Elderly or Handicapped Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4115-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
Capital investment:
00.01 Housing for the elderly or
handicapped loans............. 1 17
00.02 Maintenance security and
collateral.................... 4 4
--------- --------- ----------
00.91 Capital Investment, Subtotal.. 1 21 4
01.01 Operating expenses: Interest on
borrowings...................... 552 498 436
--------- --------- ----------
10.00 Total obligations............... 553 519 440
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
21.47 Authority to borrow............. 20
21.90 Fund balance.................... 28 315 547
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 48 315 547
22.00 New budget authority (gross)...... 819 751 750
22.10 Resources available from
recoveries of prior year
obligations..................... 1
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 868 1,066 1,297
23.95 New obligations................... -553 -519 -440
24.90 Unobligated balance available, end
of year: Fund balance........... 315 547 858
----------------------------------------------------------------------------
New budget authority (gross), detail:
60.05 Appropriation (indefinite)........ 770 805 735
60.47 Portion applied to debt reduction. -770 -805 -735
--------- --------- ----------
63.00 Appropriation (total)...........
68.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 819 751 750
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 819 751 750
----------------------------------------------------------------------------
Change in unpaid obligations:
72.90 Unpaid obligations, start of year:
Obligated balance: Fund balance. 449 390 260
73.10 New obligations................... 553 519 440
73.20 Total outlays (gross)............. -611 -649 -500
73.45 Adjustments in unexpired accounts. -1
74.90 Unpaid obligations, end of year:
Obligated balance: Fund balance. 390 260 200
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 611 649 500
--------- --------- ----------
87.00 Total outlays (gross)........... 611 649 500
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -819 -751 -750
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... -209 -102 -250
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4115-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 8,462 8,331 8,462
1231 Disbursements: Direct loan
disbursements................... 7 192
1251 Repayments: Repayments and
prepayments..................... -138 -61 -63
--------- --------- ----------
[[Page 538]]
1290 Outstanding, end of year........ 8,331 8,462 8,399
---------------------------------------------------------------------------
Note.--Amounts for direct loan obligations reflect reservations of
section 202 funds. Loan obligations shown under the program and
financing schedule reflect loans that have reached the initial closing
stage of processing.
The Housing for the Elderly or Handicapped Fund was established
pursuant to section 202 of the Housing Act of 1959, as amended. The fund
provided direct loans to nonprofit organizations building and managing
housing projects for lower income persons who are elderly or disabled.
Projects must include an assured range of necessary services for the
occupants of such projects. In addition, the section 8 lower income
housing assistance payments program has been used in conjunction with
the section 202 program. Applications under the two programs have been
processed simultaneously.
The data included in these schedules represent direct loan
activities funded under the Housing for the Elderly or Handicapped Loan
Fund. Further, activities in support of the needs of the elderly and
disabled have been carried out under a grant program funded in the 1991
Appropriations Act (P.L. 101-507) and authorized in the National
Affordable Housing Act (P.L. 101-625).
After April 1, 1992, all projects for which there were
administrative reservations converted to the capital advance assistance
program.
The program and financing schedule for this account summarizes the
Federal government's obligations for this loan program. The amounts
reflected in the following summary of administrative commitments reflect
outstanding section 202 fund reservations, whereas, the obligations
portion of the program and financing schedule reflects commitments which
have reached the initial loan closing stage of processing.
SUMMARY OF ADMINISTRATIVE COMMITMENTS
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Program by activities:
Capital investment:
Administrative commitments,
start of year................. 20,100 17,025
Recovery of prior year
obligations................... -2,570
Administrative commitments, end
of year....................... -17,025
------------------------------------
Subtotal, capital investment-
loan obligations............ 505 17,025
Other expenses (Fee inspection). 33
Capital investment:
Loan obligations................ 505 17,025
Maintenance security and
collateral...................... 589 3,500 3,500
------------------------------------
Total capital investment...... 1,094 20,525 3,500
====================================
Financing.--Repayments and interest income from loans continue to be
available to pay for commitments of the fund.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4115-0-3-371 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 709 672 690 688
0102 Expense........................... -690 -551 -502 -439
------------ -------------- ------------ -------------
0109 Net income or loss (-)............ 19 121 188 249
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4115-0-3-371 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 497 705 810 1,061
Investments in US securities:
1106 Receivables, net.............. -1
1206 Non-Federal assets: Receivables,
net............................. 242 167
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 8,462 8,331 8,461 8,400
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -21 -18 -19 -18
1604 Direct loans and interest
receivable, net............... 8,441 8,313 8,442 8,382
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 8,441 8,313 8,442 8,382
1901 Other Federal assets: Other assets -7
------------ -------------- ------------ -------------
1999 Total assets.................... 9,179 9,178 9,252 9,443
LIABILITIES:
Federal liabilities:
2102 Interest payable................ 335 275 248 217
2104 Resources payable to Treasury... 175 142 142 142
2207 Non-Federal liabilities: Other.... 8,484 7,714 6,909 6,174
------------ -------------- ------------ -------------
2999 Total liabilities............... 8,994 8,131 7,299 6,533
NET POSITION:
3100 Appropriated capital.............. 456 1,183 1,183 1,183
3300 Cumulative results of operations.. -271 -137 769 1,726
------------ -------------- ------------ -------------
3999 Total net position.............. 185 1,046 1,952 2,909
------------ -------------- ------------ -------------
4999 Total liabilities and net position 9,179 9,177 9,251 9,442
-----------------------------------------------------------------------------------------------
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4115-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
32.0 Land and structures............... 4 4
33.0 Investments and loans............. 1 17
43.0 Interest and dividends............ 552 498 436
--------- --------- ----------
99.9 Total obligations............... 553 519 440
---------------------------------------------------------------------------
Nonprofit Sponsor Assistance Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4042-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.90 Unobligated balance available,
start of year: Fund balance..... 6 6 6
22.00 New budget authority (gross)......
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 6 6 6
23.95 New obligations...................
24.90 Unobligated balance available, end
of year: Fund balance........... 6 6 6
----------------------------------------------------------------------------
New budget authority (gross), detail:
70.00 Total new budget authority (gross)
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations...................
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total outlays (gross).............
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays...........................
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4042-0-3-604 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 1 1 1
--------- --------- ----------
1290 Outstanding, end of year........ 1 1 1
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, this account
records, for this program, all cash flows to and from the Government
resulting from direct loans obligated prior to 1992. This account is
shown on a cash basis.
[[Page 539]]
The Nonprofit Sponsor Assistance fund provided interest-free loans
to nonprofit organizations to plan housing projects to be financed under
the section 202 housing for the elderly or disabled program.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4042-0-3-604 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
1101 Federal assets: Fund balances with
Treasury........................ 7 6 6 6
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 1 1 1 1
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -1 -1 -1 -1
1604 Direct loans and interest
receivable, net...............
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................
------------ -------------- ------------ -------------
1999 Total assets.................... 7 6 6 6
NET POSITION:
3300 Cumulative results of operations.. 7 6 6 6
------------ -------------- ------------ -------------
3999 Total net position.............. 7 6 6 6
------------ -------------- ------------ -------------
4999 Total liabilities and net position 7 6 6 6
-----------------------------------------------------------------------------------------------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION
Federal Funds
Public enterprise funds:
Loans to Federal National Mortgage Association
The Treasury is authorized to make up to $2.25 billion of loans to
the Federal National Mortgage Association. Such loans were made in the
first few months of the Association's existence as a private corporation
while it arranged lines of credit with commercial banks. No loans have
been made since that time and the loan authority may be used only at the
discretion of the Secretary of the Treasury.
Management and Liquidating Functions Fund
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4016-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.91 Unobligated balance available,
start of year: U.S. Securities:
Par value....................... 16 15
22.00 New budget authority (gross)...... 1
22.40 Capital transfer to general fund.. -2 -15
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 15
23.95 New obligations...................
24.91 Unobligated balance available, end
of year: U.S. Securities: Par
value........................... 15
----------------------------------------------------------------------------
New budget authority (gross), detail:
68.00 Spending authority from offsetting
collections (gross): Offsetting
collections (cash).............. 1
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations...................
73.20 Total outlays (gross)............. -2
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 1
86.98 Outlays from permanent balances... 1
--------- --------- ----------
87.00 Total outlays (gross)........... 2
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash)
from: Federal sources......... -1
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... -1
---------------------------------------------------------------------------
Budget program.--The remaining $15 million portfolio in the
Management and Liquidating Functions Fund was redeemed at par value plus
accrued interest on January 1, 1996, on which date interest ceased.
Debentures and interest earned of $15.4 million was transferred to the
Treasury Department.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4016-0-3-371 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
0101 Revenue........................... 1 1
0102 Expense...........................
------------ -------------- ------------ -------------
0109 Net income or loss (-)............ 1 1
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4016-0-3-371 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Investments in US securities:
1104 Federal assets: Agency
securities, par............... 16 15
------------ -------------- ------------ -------------
1999 Total assets.................... 16 15
NET POSITION:
3300 Cumulative results of operations.. 16 15
------------ -------------- ------------ -------------
3999 Total net position.............. 16 15
------------ -------------- ------------ -------------
4999 Total liabilities and net position 16 15
-----------------------------------------------------------------------------------------------
Credit accounts:
Guarantees of Mortgage-Backed Securities Loan Guarantee Program Account
(includes transfer of funds)
During fiscal year 1997, new commitments to issue guarantees to
carry out section 306 of the National Housing Act, as amended (12 U.S.C.
1721(g)), shall not exceed $110,000,000,000.
For administrative expenses necessary to carry out the guaranteed
mortgage-backed securities program, $9,383,000, to be derived from the
GNMA-guarantees of mortgage-backed securities guaranteed loan receipt
account, of which not to exceed $9,383,000 shall be transferred to the
appropriation for salaries and expenses.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Unavailable Collections (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0186-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Balance, start of year:
01.99 Balance, start of year............
Receipts:
02.01 Guarantees of mortgage backed
securities guarantee loans,
negative subsidies.............. 9 9 9
Appropriation:
05.01 Guarantees of mortgage-backed
securities loan guarantee
program account................. -9 -9 -9
07.99 Total balance, end of year........
---------------------------------------------------------------------------
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0186-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations (object class
25.2)........................... 9 9 9
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 9 9 9
[[Page 540]]
23.95 New obligations................... -9 -9 -9
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.25 Appropriation (special fund,
indefinite)..................... 9 9 9
----------------------------------------------------------------------------
Change in unpaid obligations:
73.10 New obligations................... 9 9 9
73.20 Total outlays (gross)............. -9 -9 -9
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 9 9 9
--------- --------- ----------
87.00 Total outlays (gross)........... 9 9 9
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 9 9 9
90.00 Outlays........................... 9 9 9
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0186-0-1-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Guaranteed loan levels supportable by subsidy
budget authority:
2159 Total guarantee loan levels....... 142,000 110,000 110,000
Guaranteed loan subsidy budget authority:
2339 Total subsidy budget authority.... 9 9 9
Guaranteed loan subsidy outlays:
2349 Total subsidy outlays............. -9 -9 -9
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, this account
records the administrative expenses of this program. The administrative
expenses are estimated on a cash basis.
Guarantees of Mortgage-Backed Securities Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4240-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Payment to receipt account for
administration.................. 9 9 9
--------- --------- ----------
10.00 Total obligations (object class
25.2)......................... 9 9 9
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.90 Unobligated balance available,
start of year: Fund balance..... 78 101 128
22.00 New financing authority (gross)... 32 36 36
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 110 137 164
23.95 New obligations................... -9 -9 -9
24.90 Unobligated balance available, end
of year: Fund balance........... 101 128 155
----------------------------------------------------------------------------
New financing authority (gross), detail:
Spending authority from offsetting
collections:
68.00 Offsetting collections (cash)... 30 35 36
68.10 Change in orders on hand from
Federal sources............... 2 1
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total)..................... 32 36 36
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 32 36 36
----------------------------------------------------------------------------
Change in unpaid obligations:
72.95 Unpaid obligations, start of year:
Orders on hand from Federal
sources......................... 4 6 7
73.10 New obligations................... 9 9 9
73.20 Total financing disbursements
(gross)......................... -7 -9 -9
74.95 Unpaid obligations, end of year:
Orders on hand from Federal
sources......................... 6 7 7
----------------------------------------------------------------------------
Outlays (gross), detail:
87.00 Total financing disbursements
(gross)......................... 7 9 9
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.25 Interest on uninvested funds.. -6 -2 -2
88.40 Non-Federal sources:
Commitment and other fees... -20 -33 -34
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -26 -35 -36
88.95 Change in receivables from program
accounts........................ -2 -1
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 4
90.00 Financing disbursements........... -19 -26 -27
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4240-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on commitments:
2111 Limitation on guaranteed loans
made by private lenders......... 142,000 110,000 110,000
--------- --------- ----------
2150 Total guaranteed loan
commitments................... 142,000 110,000 110,000
---------------------------------------------------------------------------
The Housing and Urban Development Act of 1968 authorized the
Government National Mortgage Association (GNMA) to guarantee the timely
payment of principal and interest on privately issued securities that
are backed by pools of FHA, Veterans Affairs (VA) and Farmers Home
Administration (FmHA) mortgages. The GNMA guarantee gives lenders access
to the capital markets for funds to originate new loans. New FHA and VA
loans are currently pooled into GNMA securities.
Financing.--GNMA Issuers are assessed commitment, guarantee and
other fees to cover costs incurred by GNMA and to fund a reserve against
possible future payments under the guarantee.
Operating results.--Fee collections, interest, and other income are
expected to exceed expenses by $26 million and $27 million in 1996 and
1997 respectively. These amounts will be retained to cover future year
expenses and as a reserve against losses that may be incurred on
guarantees.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4240-0-3-371 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
1101 Federal assets: Fund balances with
Treasury........................ 74 93 100 108
1206 Non-Federal assets: Receivables,
net............................. 4 6 7 7
------------ -------------- ------------ -------------
1999 Total assets.................... 78 99 107 115
NET POSITION:
3300 Cumulative results of operations.. 78 99 107 115
------------ -------------- ------------ -------------
3999 Total net position.............. 78 99 107 115
-----------------------------------------------------------------------------------------------
Note.--GNMA guarantees the timely payment of principal and interest
installments on securities which are backed by FHA-insured, FmHA-
insured, and VA-guaranteed mortgages. Such guarantees are excluded from
the Government total of guaranteed obligations duplicating FHA, FmHA,
and VA guarantees.
[[Page 541]]
Guarantees of Mortgage-Backed Securities Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4238-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
Operating expenses:
00.02 Functional services............. 13 13 14
00.03 Default expenses................ 17 8 9
00.04 Servicing expenses.............. 12 14 14
00.05 Other expenses.................. 13 19 20
00.06 REMIC expenses.................. 4 6 6
--------- --------- ----------
00.91 Total operating expenses...... 59 60 63
Capital investment:
01.01 Advances of guaranty payments... 138 303 366
01.02 Real estate owned properties.... 34 35 34
--------- --------- ----------
01.91 Total capital investment...... 172 338 400
--------- --------- ----------
10.00 Total obligations............... 231 398 463
----------------------------------------------------------------------------
Budgetary resources available for obligation:
Unobligated balance available, start of year:
21.90 Fund balance.................... 91 87 63
U.S. Securities:
Par value:
21.91 Par value................... 3,714 4,211 4,666
21.91 Par value (REMICs).......... -17
21.92 Unrealized discounts.......... -10
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 3,795 4,281 4,729
22.00 New budget authority (gross)...... 716 846 942
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 4,511 5,127 5,671
23.95 New obligations................... -231 -398 -463
Unobligated balance available, end of year:
24.90 Fund balance.................... 87 63 65
U.S. Securities:
Par value:
24.91 Par value................... 4,211 4,666 5,143
24.91 Par value (REMICs).......... -17
--------- --------- ----------
24.99 Total unobligated balance, end
of year....................... 4,281 4,729 5,208
----------------------------------------------------------------------------
New budget authority (gross), detail:
Spending authority from offsetting
collections:
Offsetting collections (cash):
68.00 Offsetting collections (cash). 703 824 920
68.00 Spending authority from
offsetting collections
(REMICs).................... 13 22 22
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total)..................... 716 846 942
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 716 846 942
----------------------------------------------------------------------------
Change in unpaid obligations:
72.47 Unpaid obligations, start of year:
Obligated balance: Orders on
hand from Federal sources....... 65 44 68
73.10 New obligations................... 231 398 463
73.20 Total outlays (gross)............. -252 -374 -466
74.47 Unpaid obligations, end of year:
Obligated balance: Orders on
hand from Federal Sources....... 44 68 65
----------------------------------------------------------------------------
Outlays (gross), detail:
86.98 Outlays from permanent balances... 252 374 466
--------- --------- ----------
87.00 Total outlays (gross)........... 252 374 466
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.20 Interest on U.S. securities... -216 -199 -247
Non-Federal sources:
88.40 Guarantee fees.............. -288 -304 -312
88.40 Repayments of guaranteed
payments.................. -143 -251 -312
88.40 Commitment and other fees... -18 -27 -27
88.40 Servicing income............ -18 -18 -18
88.40 Receipts from sale of REO
properties and mobile home
units..................... -17 -35 -15
88.40 Interest income mortgages... -1 -1 -1
88.40 Repayments on mortgages..... -9 -5 -4
88.40 Sale of servicing rights.... -6 -6 -6
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -716 -846 -942
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... -464 -472 -476
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4238-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 349 333 360
1232 Disbursements: Purchase of loans
assets from the public.......... 149 314 378
1252 Repayments: Proceeds from loan
asset sales to the public or
discounted...................... -165 -287 -329
--------- --------- ----------
1290 Outstanding, end of year........ 333 360 409
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4238-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 444,990 463,848 489,597
2231 Disbursements of new guaranteed
loans........................... 63,727 94,440 81,575
2251 Repayments and prepayments........ -44,869 -68,691 -72,221
--------- --------- ----------
2290 Outstanding, end of year........ 463,848 489,597 498,951
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year
\1\............................. 463,848 489,597 498,951
---------------------------------------------------------------------------
\1\ Ultimate liability for GNMA mortgage backed securities rests
with other U.S. agencies. Total Federal contingent liability should not
be double counted.
Budget Program.--Program activity is summarized below:
Mortgage-backed Securities
[In millions of dollars]
1995 actual 1996 est. 1997 est.
Commitment Limitation............... 142,000 110,000 110,000
Commitments Issued.................. 64,230 110,000 110,000
Guarantees Issued................... 63,727 94,440 81,575
Securities Outstanding.............. 463,848 489,597 498,951
Operating results.--Fee collections, interest, and other income are
expected to exceed expenses by $477 million and $532 million in 1996 and
1997, respectively. These amounts will be retained to cover future year
expenses and as a reserve against losses that may be incurred on
guarantees.
Statement of Operations (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4238-0-3-371 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
Revenue:
0101 Revenue........................... 437 514 511 567
0101 Revenue (REMICs).................. 5 13 22 22
Expense:
0102 Expense........................... 18 -46 -54 -55
0102 Expense (REMICs).................. -2 -4 -2 -2
Net income or loss (-):
------------ -------------- ------------ -------------
0109 Net income or loss (-).......... 455 468 457 512
------------ -------------- ------------ -------------
0109 Net income or loss (-) (REMICs). 3 9 20 20
------------ -------------- ------------ -------------
0199 Net income or loss................ 458 477 477 532
-----------------------------------------------------------------------------------------------
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 86-4238-0-3-371 1994 actual 1995 actual 1996 est. 1997 est.
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101 Fund balances with Treasury..... 26
Investments in US securities:
1102 Treasury securities, par...... 3,713 4,232 4,666 5,143
1104 Agency securities, par........ 1 1
1106 Receivables, net.............. 45 59 52 60
1206 Non-Federal assets: Receivables,
net............................. 26 26 27 28
[[Page 542]]
Net value of assets related to
pre-1992 direct loans
receivable and acquired
defaulted guaranteed loans
receivable:
1601 Direct loans, gross............. 349 333 360 409
1603 Allowance for estimated
uncollectible loans and
interest (-).................. -172 -241 -181 -225
------------ -------------- ------------ -------------
1699 Value of assets related to
direct loans................ 177 92 179 184
1801 Other Federal assets: Cash and
other monetary assets........... 7 4 5 5
------------ -------------- ------------ -------------
1999 Total assets.................... 3,995 4,414 4,929 5,420
LIABILITIES:
Non-Federal liabilities:
2201 Accounts payable................ 45 29 24 30
2207 Other........................... 541 534 453 453
------------ -------------- ------------ -------------
2999 Total liabilities............... 586 563 477 483
NET POSITION:
3300 Cumulative results of operations.. 3,409 3,851 4,452 4,937
------------ -------------- ------------ -------------
3999 Total net position.............. 3,409 3,851 4,452 4,937
------------ -------------- ------------ -------------
4999 Total liabilities and net position 3,995 4,414 4,929 5,420
-----------------------------------------------------------------------------------------------
Note.--GNMA guarantees the timely payment of principal and interest
installments on securities which are backed by FHA-insured, FmHA-
insured, and VA-guaranteed mortgages. Such guarantees are excluded from
the Government total of guaranteed obligations duplicating FHA, FmHA,
and VA guarantees.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4238-0-3-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
25.2 Other services.................... 59 65 66
33.0 Investments and loans............. 172 333 397
--------- --------- ----------
99.9 Total obligations............... 231 398 463
---------------------------------------------------------------------------
POLICY DEVELOPMENT AND RESEARCH
Federal Funds
General and special funds:
Research and Technology
For contracts, grants, and necessary expenses of programs of
research and studies relating to housing and urban problems, not
otherwise provided for, as authorized by title V of the Housing and
Urban Development Act of 1970, as amended (12 U.S.C. 1701z-1 et seq.),
including carrying out the functions of the Secretary under section
1(a)(1)(i) of Reorganization Plan No. 2 of 1968, $45,000,000, to remain
available until September 30, 1998.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0108-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct program.................... 41 35 45
--------- --------- ----------
10.00 Total obligations............... 41 35 45
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 1
22.00 New budget authority (gross)...... 42 34 45
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 42 35 45
23.95 New obligations................... -41 -35 -45
24.40 Unobligated balance available, end
of year: Uninvested balance..... 1
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 42 34 45
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 25 28 29
73.10 New obligations................... 41 35 45
73.20 Total outlays (gross)............. -38 -34 -39
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 28 29 35
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 17 14 18
86.93 Outlays from current balances..... 21 21 21
--------- --------- ----------
87.00 Total outlays (gross)........... 38 34 39
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 42 34 45
90.00 Outlays........................... 38 34 39
---------------------------------------------------------------------------
The Housing and Urban Development Act of 1970 directs the Secretary
to undertake programs of research, studies, testing, and demonstrations
related to the HUD mission. These functions are carried out internally
and through contracts with industry, nonprofit research organizations,
and educational institutions, and through agreements with State and
local governments and other Federal agencies.
In 1997, the research program will focus on activities to support
the reinvention of HUD, including examination of issues such as
transformation of public housing and design of standards for
performance-based funds. National housing surveys and research to reduce
the cost of housing will continue in 1997.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0108-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
25.2 Other services.................... 36 31 39
41.0 Grants, subsidies, and
contributions................... 5 4 6
--------- --------- ----------
99.9 Total obligations............... 41 35 45
---------------------------------------------------------------------------
FAIR HOUSING AND EQUAL OPPORTUNITY
Federal Funds
General and special funds:
Fair Housing Activities
For contracts, grants, and other assistance, not otherwise provided
for, as authorized by title VIII of the Civil Rights Act of 1968, as
amended by the Fair Housing Amendments Act of 1988, and section 561 of
the Housing and Community Development Act of 1987, as amended,
$33,000,000, to remain available until September 30, 1998, of which
$15,000,000 shall be to carry out activities pursuant to such section
561.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts included
in this budget are based on the levels provided in three continuing
resolutions: P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0144-0-1-751 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Fair housing assistance........... 7 16 18
00.02 Fair housing initiatives.......... 28 17 15
--------- --------- ----------
10.00 Total obligations (object class
41.0)......................... 35 33 33
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 5 3
22.00 New budget authority (gross)...... 33 30 33
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 38 33 33
23.95 New obligations................... -35 -33 -33
[[Page 543]]
24.40 Unobligated balance available, end
of year: Uninvested balance..... 3
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.00 Appropriation..................... 33 30 33
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 37 44 56
73.10 New obligations................... 35 33 33
73.20 Total outlays (gross)............. -27 -21 -29
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 44 56 60
----------------------------------------------------------------------------
Outlays (gross), detail:
86.93 Outlays from current balances..... 27 21 29
--------- --------- ----------
87.00 Total outlays (gross)........... 27 21 29
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 33 30 33
90.00 Outlays........................... 27 21 29
---------------------------------------------------------------------------
The Budget proposes an appropriation of $33 million in 1997 for fair
housing activities to aid in eliminating housing discrimination. Of the
amount requested, $18 million is for the Fair Housing Assistance program
and $15 million is for the Fair Housing Initiatives program.
The Fair Housing Assistance program, authorized by title VIII of the
Civil Rights Act of 1968 as amended, provides funding to State and local
agencies to assure prompt and effective processing of title VIII (Civil
Rights Act of 1968) complaints.
The Fair Housing Initiatives program, authorized by the Housing and
Community Development Act of 1987 as amended by the Housing and
Community Development Act of 1992, provides support to public and
private organizations for the purpose of eliminating or preventing
discrimination in housing and for enhancing fair housing opportunities.
MANAGEMENT AND ADMINISTRATION
Federal Funds
General and special funds:
Salaries and Expenses
(including transfer of funds)
For necessary administrative and non-administrative expenses of the
Department of Housing and Urban Development, not otherwise provided for,
including not to exceed $7,000 for official reception and representation
expenses, $987,558,000, of which $546,782,000 shall be provided from the
various funds of the Federal Housing Administration: $9,383,000 shall be
provided from funds of the Government National Mortgage Association; and
$675,000 shall be provided from the Community Opportunity Performance
Funds Program account.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts in this
budget are based on the levels provided in three continuing resolutions:
P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0143-0-1-999 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
Direct program:
00.01 Housing, mortgage credit,
regulatory and energy
conservation.................. 214 200 211
00.02 Community planning and
development programs.......... 33 31 30
00.03 Equal opportunity and research
programs...................... 34 32 31
00.04 Departmental management, legal
and audit services............ 25 23 22
00.05 Field direction and
administration................ 143 134 138
--------- --------- ----------
00.91 Total direct program.......... 449 420 432
01.01 Reimbursable program.............. 509 543 556
--------- --------- ----------
10.00 Total obligations............... 958 963 988
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 1
22.00 New budget authority (gross)...... 961 963 988
22.30 Unobligated balance expiring...... -1
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 960 964 988
23.95 New obligations................... -958 -963 -988
24.40 Unobligated balance available, end
of year: Uninvested balance..... 1
----------------------------------------------------------------------------
New budget authority (gross), detail:
Current:
40.00 Appropriation................... 453 420 432
40.75 Reduction pursuant to P.L. 104-
50............................ -1
--------- --------- ----------
43.00 Appropriation (total)......... 452 420 432
Permanent:
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 509 543 556
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 961 963 988
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 84 112 111
73.10 New obligations................... 958 963 988
73.20 Total outlays (gross)............. -930 -963 -988
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 112 111 111
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 346 323 333
86.93 Outlays from current balances..... 75 97 97
86.97 Outlays from new permanent
authority....................... 509 543 556
--------- --------- ----------
87.00 Total outlays (gross)........... 930 963 988
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.45 Offsetting governmental
collections................. -509 -543 -556
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -509 -543 -556
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 452 420 432
90.00 Outlays........................... 422 420 432
---------------------------------------------------------------------------
This appropriation finances all salaries and related costs
associated with administering the programs of the Department of Housing
and Urban Development, including: housing and mortgage credit programs;
community planning and development programs; equal opportunity,
research, regulatory and insurance programs; departmental management,
and legal services; and, field direction and administration.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0143-0-1-999 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Direct obligations:
Personnel compensation:
11.1 Full-time permanent........... 243 210 210
11.3 Other than full-time permanent 5 5 5
11.5 Other personnel compensation.. 3 3 3
--------- --------- ----------
11.9 Total personnel compensation 251 218 218
12.1 Civilian personnel benefits..... 53 61 69
13.0 Benefits for former personnel... 11 12 12
21.0 Travel and transportation of
persons....................... 7 7 7
22.0 Transportation of things........ 1 1 4
23.1 Rental payments to GSA.......... 33 32 32
23.3 Communications, utilities, and
miscellaneous charges......... 14 14 14
24.0 Printing and reproduction....... 3 3 3
25.1 Advisory and assistance services 7 7 7
25.2 Other services.................. 3 6 7
25.3 Purchases of goods and services
from Government accounts...... 51 47 47
25.4 Operation and maintenance of
facilities.................... 6 7 7
26.0 Supplies and materials.......... 3 3 3
31.0 Equipment....................... 5 2 2
42.0 Insurance claims and indemnities 1
--------- --------- ----------
[[Page 544]]
99.0 Subtotal, direct obligations.. 449 420 432
99.0 Reimbursable obligations.......... 509 543 556
--------- --------- ----------
99.9 Total obligations............... 958 963 988
---------------------------------------------------------------------------
Personnel Summary
----------------------------------------------------------------------------
Identification code 86-0143-0-1-999 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Direct:
Total compensable workyears:
1001 Full-time equivalent employment. 5,280 4,774 4,452
1005 Full-time equivalent of overtime
and holiday hours............. 23 25 25
Reimbursable:
Total compensable workyears:
2001 Full-time equivalent employment. 5,973 6,172 5,995
2005 Full-time equivalent of overtime
and holiday hours............. 27 30 30
---------------------------------------------------------------------------
Office of Inspector General
(including transfer of funds)
For necessary expenses of the Office of Inspector General in
carrying out the Inspector General Act of 1978, as amended, $52,850,000,
of which $11,283,000 shall be provided from the various funds of the
Federal Housing Administration and $5,000,000 shall be provided from the
amount earmarked for Operation Safe Home in the Drug Elimination Grants
for Low Income Housing Account.
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts in this
budget are based on the levels provided in three continuing resolutions:
P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0189-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct program.................... 36 37 37
01.01 Reimbursable program.............. 12 11 16
--------- --------- ----------
10.00 Total obligations............... 48 48 53
----------------------------------------------------------------------------
Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 49 48 53
23.95 New obligations................... -48 -48 -53
----------------------------------------------------------------------------
New budget authority (gross), detail:
Current:
40.00 Appropriation................... 36 37 37
Permanent:
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 12 11 16
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 49 48 53
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 11 10 10
73.10 New obligations................... 48 48 53
73.20 Total outlays (gross)............. -49 -48 -53
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 10 10 10
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 28 28 28
86.93 Outlays from current balances..... 7 9 9
86.97 Outlays from new permanent
authority....................... 12 11 16
--------- --------- ----------
87.00 Total outlays (gross)........... 49 48 53
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash)
from: Federal sources......... -12 -11 -16
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 37 37 37
90.00 Outlays........................... 36 37 37
---------------------------------------------------------------------------
This appropriation provides agency-wide audit and investigative
functions to identify and correct management and administrative
deficiencies that create conditions for existing or potential instances
of fraud, waste and mismanagement. The audit function provides internal
audit, contract audit, and inspection services. Contract audits provide
professional advice to agency contracting officials on accounting and
financial matters relative to negotiation, award, administration,
repricing, and settlement of contracts. Internal audits review and
evaluate all facets of agency operations. Inspection services provide
detailed technical evaluations of agency operations. The investigative
function provides for the detection and investigation of improper and
illegal activities involving programs, personnel, and operations.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-0189-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Direct obligations:
Personnel compensation:
11.1 Full-time permanent........... 19 20 21
11.5 Other personnel compensation.. 1 2 2
--------- --------- ----------
11.9 Total personnel compensation 20 22 23
12.1 Civilian personnel benefits..... 5 5 5
21.0 Travel and transportation of
persons....................... 2 2 3
23.1 Rental payments to GSA.......... 3 3 3
25.1 Advisory and assistance services 1 1 1
25.2 Other services.................. 1 1 1
25.3 Purchases of goods and services
from Government accounts...... 2 1 1
25.7 Operation and maintenance of
equipment..................... 1 1
31.0 Equipment....................... 1 1
--------- --------- ----------
99.0 Subtotal, direct obligations.. 36 37 37
99.0 Reimbursable obligations.......... 11 11 16
99.5 Below reporting threshold......... 1
--------- --------- ----------
99.9 Total obligations............... 48 48 53
---------------------------------------------------------------------------
Personnel Summary
----------------------------------------------------------------------------
Identification code 86-0189-0-1-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Direct:
Total compensable workyears:
1001 Full-time equivalent employment. 362 386 380
1005 Full-time equivalent of overtime
and holiday hours............. 25 25 25
Reimbursable:
2001 Total compensable workyears: Full-
time equivalent employment...... 121 116 114
---------------------------------------------------------------------------
Office of Federal Housing Enterprise Oversight
salaries and expenses
For carrying out the Federal Housing Enterprise Financial Safety and
Soundness Act of 1992, including not to exceed $3,000 for official
reception and representation expenses, $15,751,000, to remain available
until expended, from the Federal Housing Enterprise Oversight Fund:
Provided, That such amounts shall be collected by the Director as
authorized by section 1316(a) and (b) of such Act and deposited in the
Fund under section 1316(f).
Note.--A regular 1996 appropriation for this account had not been
enacted at the time this budget was prepared. The 1996 amounts in this
budget are based on the levels provided in three continuing resolutions:
P.L. 104-91, P.L. 104-92, and P.L. 104-99.
Unavailable Collections (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-5272-0-2-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Balance, start of year:
01.99 Balance, start of year............ 2
Receipts:
02.01 Office of federal housing
enterprise oversight............ 10 15 16
--------- --------- ----------
04.00 Total: Balances and collections... 10 15 18
Appropriation:
05.01 Office of federal housing
enterprise oversight............ -10 -13 -16
[[Page 545]]
07.99 Total balance, end of year........ 2 2
---------------------------------------------------------------------------
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-5272-0-2-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
10.00 Total obligations................. 15 15 16
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance available,
start of year: Uninvested
balance......................... 5 2
22.00 New budget authority (gross)...... 10 13 16
22.10 Resources available from
recoveries of prior year
obligations..................... 1
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 16 15 16
23.95 New obligations................... -15 -15 -16
24.40 Unobligated balance available, end
of year: Uninvested balance..... 2
----------------------------------------------------------------------------
New budget authority (gross), detail:
40.20 Appropriation (special fund,
definite)....................... 10 13 16
----------------------------------------------------------------------------
Change in unpaid obligations:
72.40 Unpaid obligations, start of year:
Obligated balance: Appropriation 4 6 6
73.10 New obligations................... 15 15 16
73.20 Total outlays (gross)............. -11 -15 -16
73.45 Adjustments in unexpired accounts. -1
74.40 Unpaid obligations, end of year:
Obligated balance: Appropriation 6 6 6
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new current authority 10 13 16
86.93 Outlays from current balances..... 1
--------- --------- ----------
87.00 Total outlays (gross)........... 11 15 16
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Net budget authority and outlays:
89.00 Budget authority.................. 10 13 16
90.00 Outlays........................... 11 15 16
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This appropriation funds the Office of Federal Housing Enterprise
Oversight (the Office), which was established in 1992 to regulate the
financial safety and soundness of the two housing Government Sponsored
Enterprises (GSEs)--the Federal National Mortgage Association and the
Federal Home Loan Mortgage Corporation. The Office was authorized in the
Federal Housing Enterprise Safety and Soundness Act of 1992, which also
instituted a three-part capital standard for the GSEs, and gave the
regulator enhanced authority to enforce those standards. The Department
will monitor the GSEs' compliance with affordable housing goals that
were also contained in the Act.
Object Classification (in millions of dollars)
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Identification code 86-5272-0-2-371 1995 actual 1996 est. 1997 est.
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11.1 Personnel compensation: Personnel
Compensation.................... 5 7 8
12.1 Civilian personnel benefits....... 1 1 2
23.1 Rental payments to GSA............ 1 2 2
25.2 Other services.................... 6 4 4
31.0 Equipment......................... 2
99.5 Below reporting threshold......... 1
--------- --------- ----------
99.9 Total obligations............... 15 15 16
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Personnel Summary
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Identification code 86-5272-0-2-371 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
1001 Total compensable workyears: Full-
time equivalent employment...... 56 72 78
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Intragovernmental funds:
Working Capital Fund
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4586-0-4-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Operating Expenses: Data
processing services............. 172 185 217
00.03 Capital Investment: Data
processing services............. 2 2 2
--------- --------- ----------
10.00 Total obligations............... 174 187 219
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Budgetary resources available for obligation:
Unobligated balance available, start of year:
21.90 Fund balance.................... 36 31
--------- --------- ----------
21.99 Total unobligated balance,
start of year............... 36 31
22.00 New budget authority (gross)...... 167 156 219
22.10 Resources available from
recoveries of prior year
obligations..................... 1
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 204 187 219
23.95 New obligations................... -174 -187 -219
24.90 Unobligated balance available, end
of year: Fund balance........... 31
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New budget authority (gross), detail:
68.00 Spending authority from offsetting
collections (gross): Offsetting
collections (cash).............. 167 156 219
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Change in unpaid obligations:
72.90 Unpaid obligations, start of year:
Obligated balance: Fund balance. 10 20 51
73.10 New obligations................... 174 187 219
73.20 Total outlays (gross)............. -163 -156 -219
73.45 Adjustments in unexpired accounts. -1
Unpaid obligations, end of year:
Obligated balance:
74.90 Fund balance.................. 20 51 51
--------- --------- ----------
74.99 Total unpaid obligations, end
of year..................... 20 51 51
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Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 163 156 219
--------- --------- ----------
87.00 Total outlays (gross)........... 163 156 219
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Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.45 Offsetting governmental
collections................. -167 -156 -219
--------- --------- ----------
88.90 Total, offsetting
collections (cash)........ -167 -156 -219
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Net budget authority and outlays:
89.00 Budget authority..................
90.00 Outlays........................... -4
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The Working Capital Fund, authorized by the Department of Housing
and Urban Development Act of 1965, finances information technology and
office automation initiatives which can be performed more efficiently on
a centralized basis. The fund is financed from fees charged for services
performed.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 86-4586-0-4-451 1995 actual 1996 est. 1997 est.
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Personnel compensation:
11.1 Full-time permanent............. 18 18 18
--------- --------- ----------
11.9 Total personnel compensation.. 18 18 18
12.1 Civilian personnel benefits....... 3 3 4
13.0 Benefits for former personnel..... 1
21.0 Travel and transportation of
persons......................... 1 1
22.0 Transportation of things.......... 1
23.3 Communications, utilities, and
miscellaneous charges........... 36 50 45
25.2 Other services.................... 90 102 138
26.0 Supplies and materials............ 4 1 1
31.0 Equipment......................... 21 12 12
99.0 Subtotal, reimbursable obligations 174 187 219
--------- --------- ----------
99.9 Total obligations............... 174 187 219
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[[Page 546]]
Personnel Summary
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Identification code 86-4586-0-4-451 1995 actual 1996 est. 1997 est.
----------------------------------------------------------------------------
2001 Total compensable workyears: Full-
time equivalent employment...... 318 350 350
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Administrative Provisions
Sec. 101. Minimum Rents.--Notwithstanding section 3(a) and 8(o)(2)
of the United States Housing Act of 1937, as amended, for fiscal year
1997--
(1) public housing agencies shall require each family who is
assisted under the certificate or moderate rehabilitation program
under section 8 of such Act to pay a minimum monthly rent of up to
$25;
(2) public housing agencies shall reduce the monthly assistance
payment on behalf of each family who is assisted under the voucher
program under section 8 of such Act so that the family pays a
minimum monthly rent of up to $25;
(3) with respect to housing assisted under other programs for
rental assistance under section 8 of such Act, the Secretary shall
require each family who is assisted under such program to pay a
minimum monthly rent of up to $25; and
(4) public housing agencies shall require each family who is
assisted under the public housing program (including public housing
for Indian families) to pay a minimum monthly rent of up to $25.
Sec. 102. Administrative Fees.--Notwithstanding section 8(q) of the
United States Housing Act of 1937, as amended--
(a) The Secretary shall establish fees for the cost of administering
the certificate, voucher and moderate rehabilitation programs.
(1)(A) For fiscal year 1997, the fee for each month for which a
dwelling unit is covered by an assistance contract shall be 7.65
percent of the base amount in the case of an agency that, on an
annual basis, is administering a program of no more than 600 units,
and 7 percent of the base amount for each additional unit above 600.
(B) The base amount shall be the higher of--
(i) the fair market rental for fiscal year 1993 for a 2-
bedroom existing rental dwelling unit in the market area of the
agency; and
(ii) such fair market rental for fiscal year 1994, but not
more than 103.5 percent of the amount determined under clause
(i);
(C) The base amount shall be adjusted to reflect changes in the
wage data or other objectively measurable data that reflect the
costs of administering the program during fiscal year 1996; except
that the Secretary may require that the base amount be not less than
a minimum amount and not more than a maximum amount.
(2) For subsequent fiscal years, the Secretary shall publish a
notice in the Federal Register, for each geographic area,
establishing the amount of the fee that would apply for the agencies
administering the program, based on changes in wage data or other
objectively measurable data that reflect the cost of administering
the program, as determined by the Secretary.
(3) The Secretary may increase the fee if necessary to reflect
higher costs of administering small programs and programs operating
over large geographic areas.
(4) The Secretary may decrease the fee for PHA-owned units.
(b) Beginning in fiscal year 1997 and thereafter, the Secretary
shall also establish reasonable fees (as determined by the Secretary)
for--
(1) the costs of preliminary expenses, in the amount of $500,
for a public housing agency, but only in the first year it
administers a tenant-based assistance program under the United
States Housing Act of 1937 and only if, immediately before the
effective data of this Act, it was not administering a tenant-based
assistance program under the 1937 Act (as in effect immediately
before the effective date of this Act), in connection with its
initial increment of assistance received;
(2) the costs incurred in assisting families who experience
difficulty (as determined by the Secretary) in obtaining appropriate
housing under the program; and
(3) extraordinary costs approved by the Secretary.
Sec. 103. Establishment of Ceiling Rents.--Notwithstanding section
212(3)(D) of the United States Housing Act of 1937, as amended, section
3(a)(2) of such Act is amended to read as follows:
``(2) Notwithstanding paragraph (1), a public housing agency
may--
``(A) adopt ceiling rents that reflect the reasonable market
value of the housing, but that are not less than the monthly
costs--
``(i) to operate the housing of the agency; and
``(ii) to make a deposit to a replacement reserve (in
the sole discretion of the public housing agency): and
``(B) allow families to pay ceiling rents referred to in
subparagraph (A), unless, with respect to any family, the
ceiling rent established under this paragraph would exceed the
amount payable as rent by that family under paragraph (1).''.
Sec. 104. Repeal of Federal Preferences.--
(a) Public Housing.--Section 6(c)(4)(A) of the United States Housing
Act of 1937 (42 U.S.C. 1437d(c)(4)(A)) is amended to read as follows:
``(A) the establishment, after public notice and an opportunity
for public comment, of a written system of preferences for admission
to pubic housing, if any, that is not inconsistent with the
comprehensive housing affordability strategy under title 1 of the
Cranston-Gonzalez National Affordable Housing Act;''.
(b) Section 8 Existing and Moderate Rehabilitation.--Section
8(d)(1)(A) of the United States Housing Act of 1937 (42 U.S.C.
1437f(d)(1)(A)) is amended to read as follows:
``(A) the selection of tenants shall be the function of the
owner, subject to the provisions of the annual contributions
contract between the Secretary and the agency, except that for the
certificate and moderate rehabilitation programs only, for the
purpose of selecting families to be assisted, the public housing
agency may establish, after public notice and an opportunity for
public comment, a written system of preferences for selection that
is not inconsistent with the comprehensive housing affordability
strategy under title I of the Cranston-Gonzalez National Affordable
Housing Act;''.
(c) Section 8 Voucher Program.--Section 8(o)(3)(B) of the United
States Housing Act of 1937 (42 U.S.C. 1437f(o)(3)(B)) is amended to read
as follows:
``(B) For the purpose of selecting families to be assisted under
this subsection, the public housing agency may establish, after
public notice and an opportunity for public comment, a written
system of preferences for selection that is not inconsistent with
the comprehensive housing affordability strategy under title I of
the Cranston-Gonzalez National Affordable Housing Act.''.
(d) Section 8 New Construction and Substantial Rehabilitation.--
(1) Repeal.--Section 545(c) of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 1437f note) is amended to read as
follows:
``(c) [Reserved.]''.
(2) Prohibition.--Notwithstanding any other provision of law, no
Federal tenant selection preferences under the United States Housing
Act of 1937 shall apply with respect to--
(i) housing constructed or substantially rehabilitated
pursuant to assistance provided under section 8(b)(2) of the
United States Housing Act of 1937 (as such section existed on
the day before October 1, 1983); or
(ii) projects financed under section 202 of the Housing Act
of 1959 (as such section existed on the day before the date of
enactment of the Cranston-Gonzalez National Affordable Housing
Act).
(e) Rent Supplements.--Section 101(k) of the Housing and Urban
Development Act of 1965 (12 U.S.C. 1701s(k)) is amended to read as
follows:
``(k) [Reserved.].''
(f) Conforming Amendments.--
(1) United states housing act of 1937.--The United States
Housing Act of 1937 (42 U.S.C. 1437 et seq.) is amended--
(A) in section 6(o), by striking ``preference rules
specified in'' and inserting ``written system of preferences for
selection established pursuant to'';
(B) in the second sentence of section 7(a)(2), by striking
``according to the preferences for occupancy under'' and
inserting ``in accordance with the written system of preferences
for selection established pursuant to'';
(C) in section 8(d)(2)(A), by striking the last sentence;
[[Page 547]]
(D) in section 8(d)(2)(H), by striking ``Notwithstanding
subsection (d)(1)(A)(i), an'' and inserting ``An'';
(E) in section 16(c), in the second sentence, by striking
``the system of preferences established by the agency pursuant
to section 6(c)(4)(A)(ii)'' and inserting ``the written system
of preferences for selection established by the public housing
agency pursuant to section 6(c)(4)(A)''; and
(F) in section 24(e)--
(i) by striking ``(e) Exceptions'' and all that follows
through ``The Secretary may'' and inserting the following:
``(e) Exception to General Program Requirements.--The Secretary
may''; and
(ii) by striking paragraph (2).
(2) Cranston-gonzalez national affordable housing act.--Section
522(f)(6)(B) of the Cranston-Gonzalez National Affordable Housing
Act (42 U.S.C. 12704 et seq.) is amended by striking ``any
preferences for such assistance under section 8(d)(1(A)(i)'' and
inserting ``the written system of preferences for selection
established pursuant to section 8(d)(1)(A)''.
(3) Housing and community development act of 1992.--Section 655
of the Housing and Community Development Act of 1992 (42 U.S.C.
13615) is amended by striking ``the preferences'' and all that
follows up to the period at the end and inserting ``any
preferences''.
(4) References in other Law.--Any reference in any Federal law
other than any provision of any law amended by subsection (a)
through (e) of this section to the preferences for assistance under
section 6(c)(4)(A)(i), 8(d)(1)(A)(i), or 8(o)(3)(B) of the United
States Housing Act of 1937 (as such sections existed on the day
before the date of enactment of this Act) shall be considered to
refer to the written system of preferences for selection established
pursuant to section 6(c)(4)(A), 8(d)(1)(A), or 8(o)(3)(B),
respectively, of the United States Housing Act of 1937, as amended
by this section.
Sec. 105. Applicability.--In accordance with section 201(b)(2) of
the United States Housing Act of 1937, the amendments made by sections
101, 103, and 104 of this Act shall also apply to public housing
developed or operated pursuant to contract between the Secretary of
Housing and Urban Development and an Indian housing authority.
Sec. 106. Sections 101 through 105 shall be effective upon the
enactment of this Act and only for fiscal year 1997.
Sec. 107. Targeting of vouchers and certificates.--(a) Vouchers.--
Section 8(o)(3)(A) of the United States Housing Act of 1937, as amended,
is further amended by inserting at the end the following new sentence:
``Notwithstanding any other provision of law, at least 75
percent of the families initially assisted under this subsection by
a public housing agency in any year shall be families with incomes
equal to or less than 30 percent of the median income for the area,
as determined by the Secretary with adjustments for smaller and
larger families. The Secretary may establish such income ceilings
higher or lower than 30 percent of the median for the area on the
basis of the Secretary's findings that such variations are necessary
because of unusually high or low family incomes.''
(b) Certificate Program.--Section 8(d) of such Act is amended by
adding at the end the following new paragraph:
``(5) Section 8(o)(3)(A) shall also apply to tenant-based
assistance under the certificate program established under this
section.''.
Sec. 108. Transfers Between Appropriations.--Not to exceed 2 percent
of any appropriation or earmarked amount made available for the current
fiscal year in this Act may be transferred between such appropriations
or earmarked amounts, but no such appropriations or earmarked amount
shall be increased or decreased by more than 2 percent by any such
transfers.
Sec. 109. (a) ``Take One, Take All''.--Section 8(t) of the United
States Housing Act of 1937 is hereby repealed.
(b) Exemption From Notice Requirement for the Certificate and
Voucher Programs.--Section 8(c) of such Act is amended--
(1) in paragraph (8), by inserting after ``section'' the
following: ``(other than a contract for assistance under the
certificate or voucher program)''; and
(2) in the first sentence of paragraph (9), by striking ``(but
not less than 90 days in the case of housing certificates or
vouchers under subsection (b) or (o))'' and inserting ``, other than
a contract under the certificate or voucher program.''.
(c) Endless Lease.--Section 8(d)(1)(B) of such Act is amended--
(1) in clause (ii), by inserting ``during the term of the
lease,'' after ``(ii)''; and
(2) in clause (iii), by striking ``provide that'' and inserting
``during the term of the lease.''.
(d) Applicability.--The provisions of this section shall be
effective for fiscal year 1997 only.