[Federal Register Volume 73, Number 57 (Monday, March 24, 2008)]
[Notices]
[Pages 15534-15535]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-5899]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5194-N-09]


Notice of Submission of Proposed Information Collection: Comment 
Request Public Housing Financial Management Template

AGENCY: Office of the Assistant Secretary for Public and Indian 
Housing, HUD.

ACTION: Notice of proposed information collection.

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SUMMARY: The proposed information collection requirement described 
below will be submitted to the Office of Management and Budget (OMB) 
for review, as required by the Paperwork Reduction Act. The Department 
is soliciting public comments on the subject proposal.

DATES: Comments Due Date: May 23, 2008.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name/or OMB 
Control number and should be sent to: Lillian L. Deitzer, Departmental 
Reports Management Officer, QDAM, Room 4176, Department of Housing and 
Urban Development, 451 7th Street, SW., Washington, DC 20410-5000; 
telephone: 202-708-2374 (this is not a toll-free number) or e-mail Ms. 
Deitzer at Lillian--L.--Deitzer @Hud.gov. for a copy of the proposed 
form and other available information.

FOR FURTHER INFORMATION CONTACT: Mary Schulhof, Office of Policy, 
Programs and Legislative Initiatives, PIH, Room 4116, Department of 
Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 
20410; telephone: 202-708-0713 (this is not a toll-free number).

SUPPLEMENTARY INFORMATION: The Department will submit the proposed 
information collection to OMB for review, as required by the Paperwork 
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended). This notice 
is soliciting comments from members of the public and affected agencies 
concerning the proposed collection of information to: (1) Evaluate 
whether the proposed collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information will have practical utility; (2) evaluate the accuracy 
of the agency's estimate of the burden of the proposed collection of 
information; (3) enhance the quality, utility, and clarity of the 
information to be collected; and (4) minimize the burden of the 
collection of information on those who are to respond, including 
through the use of appropriate automated collection techniques or other 
forms of information technology; e.g., permitting electronic submission 
of responses.
    This Notice also lists the following information:
    Title of Proposal: Public Housing Financial Management Template.
    OMB Control Number: 2535-0107.
    Description of the Need for the Information and Proposed Use: To 
meet the requirements of the Public Housing Assessment System (PHAS) 
rule, the Department has developed the financial condition template 
that public housing agencies (PHAs) use to annually submit 
electronically specific financial condition information to HUD. HUD 
uses the financial condition information it collects from each PHA to 
assist in the evaluation and assessment of the PHAs' overall condition.
    To meet the requirements of 24 CFR part 990, Revision to the Public 
Housing Operating Fund Program; Final Rule, financial condition 
information is to be submitted by PHAs on the asset management project 
(AMP) level. The final rule states that, in accordance with the 
directives received from the U.S. Congress, PHAs and HUD are to convert 
from an agency-centric model to an asset management model. The asset 
management model is more consistent with the management norms in the 
broader multi-family management industry. In order to implement asset 
management, the final rule stipulates that PHAs must implement project-
based management, budgeting and accounting. The final rule provides for 
operating subsidy to be provided at the project level with financial 
reporting required at the project level, replacing the current subsidy 
issuance and financial reporting at the PHA or entity-wide level.
    Requiring PHAs to report electronically has enabled HUD to provide 
a more comprehensive assessment of the PHAs receiving federal funds 
from HUD.
    Agency form number, if applicable: N/A
    Members of affected public: Public housing agencies.
    Estimation of the Total Number of Hours Needed to Prepare the 
Information Collection, Including Number of Respondents: The estimated 
number of respondents is 3,996 PHAs that submit one audited financial 
condition template annually and one unaudited financial condition 
template annually. The average number for each PHA response is 10.5 
hours, for a total reporting burden of 41,885 hours.
    Status of the Proposed Information Collection: Revision of a 
currently approved collection.

    Authority: Section 3506 of the Paperwork Reduction Act of 1995, 
44 U.S.C. Chapter 35, as amended.


[[Page 15535]]


    Dated: March 18, 2008.
Bessy Kong,
Deputy Assistant Secretary, Office of Policy, Program and Legislative 
Initiatives.
[FR Doc. E8-5899 Filed 3-21-08; 8:45 am]
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