United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 1998_register executive 2010-09-24 article Part VIII Rules and Regulations D09002ee1bdff1a63 D09002ee1bdff1b63 United States Rule originator org United States Government Agency or Subagency United States Department of Housing and Urban Development originator org United States Government Agency or Subagency This rule makes final a June 30, 1998 proposed rule that proposed to establish for HUD's Public Housing, Section 8 housing, and multifamily insured housing programs uniform annual financial reporting standards. The rule requires public housing agencies and project owners of HUD-assisted housing, which already, under longstanding regulatory and contractual requirements, submit financial information on annual basis to HUD to submit this information electronically to HUD. The rule also requires that the annual financial information to be submitted to HUD must be prepared in accordance with generally accepted accounting principles (GAAP). Electronic submission is important in reducing the administrative burden that manual submission presents to housing authorities, project owners, mortgagees and HUD. It is also important in bringing HUD and its program partners up-to-date with modern technology. Reporting in GAAP is important because GAAP accounting is more widely accepted and allows for financial consistency among various entities. The objective of this rule is to standardize the annual financial information submission process and, through standardization, bring consistency and increased fairness to the evaluation of the financial condition of housing assisted under various HUD programs. This final rule takes into consideration public comments received on the June 30, 1998 proposed rule. 63 FR 46582 https://www.govinfo.gov/app/details/FR-1998-09-01/98-23420 98-23420 fr01se98-13 RIN 2501-AC49 4210-32-P Docket No. FR-4321-F-03 https://www.govinfo.gov/app/details/FR-1998-09-01/98-23420 https://www.govinfo.gov/content/pkg/FR-1998-09-01/html/98-23420.htm https://www.govinfo.gov/content/pkg/FR-1998-09-01/pdf/98-23420.pdf 12 p. 46582 46593 63 FR 46582 Title 24 Part 24 CFR Part Title 24 Part 200 24 CFR Part 200 Title 24 Part 236 24 CFR Part 236 Title 24 Part 266 24 CFR Part 266 Title 24 Part 5 24 CFR Part 5 Title 24 Part 880 24 CFR Part 880 Title 24 Part 886 24 CFR Part 886 Title 24 Part 982 24 CFR Part 982 RIN 2501-AC49 Uniform Financial Reporting Standards for HUD Housing Programs; Federal Register Vol. 63, Issue RULE 98-23420 VIII Rule DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Docket No. FR-4321-F-03 4210-32-P 98-23420 Final rule.

This rule makes final a June 30, 1998 proposed rule that proposed to establish for HUD's Public Housing, Section 8 housing, and multifamily insured housing programs uniform annual financial reporting standards. The rule requires public housing agencies and project owners of HUD-assisted housing, which already, under longstanding regulatory and contractual requirements, submit financial information on annual basis to HUD to submit this information electronically to HUD. The rule also requires that the annual financial information to be submitted to HUD must be prepared in accordance with generally accepted accounting principles (GAAP). Electronic submission is important in reducing the administrative burden that manual submission presents to housing authorities, project owners, mortgagees and HUD. It is also important in bringing HUD and its program partners up-to-date with modern technology. Reporting in GAAP is important because GAAP accounting is more widely accepted and allows for financial consistency among various entities. The objective of this rule is to standardize the annual financial information submission process and, through standardization, bring consistency and increased fairness to the evaluation of the financial condition of housing assisted under various HUD programs. This final rule takes into consideration public comments received on the June 30, 1998 proposed rule.

October 1, 1998. For further information contact the Real Estate Assessment Center, Attention Paul Maxwell, Department of Housing and Urban Development, 490 L'Enfant Plaza East, SW, Room 8204, Washington, DC 20410; telephone (202) 755-7540, ext. 132 (this is not a toll-free number). Persons with hearing or speech impairments may access that number via TTY by calling the Federal Information Relay Service at (800) 877-8399. Vol. 63, no. 169 Office of the Federal Register, National Archives and Records Administration 1998-09-01 continuing daily deposited born digital 250 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-1998-09-01 P0b002ee180a4b195 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr01se98 https://www.govinfo.gov/app/details/FR-1998-09-01 https://www.govinfo.gov/content/pkg/FR-1998-09-01/pdf/FR-1998-09-01.pdf fdlp 46385 46627 DGPO 2010-09-24 2023-05-06 FR-1998-09-01 machine generated eng FR FR-1998-09-01 63 169