New FASS (Financial Assessment Sub-System) Documents

You may have noticed some new documents on the FASSUB webpage recently.  New items posted by REAC are:

Revised Industry User Guide:  As we reported earlier in Practical Points, for-profit and limited distribution owners who receive less than $500,000 in federal financial assistance are permitted to submit owner-certified financial statements.  Appendix B of the User Guide was updated on February 14, 2014 to include all of the account numbers and data definitions that apply.

Clarification of the 2011 Regulatory Agreement:  A document clarifying the definition of Surplus Cash, shown in the 2011 HUD Regulatory Agreement has been provided by The Office of Multifamily Housing.  This definition only applies to owners who signed the revised 2011 version of the HUD regulatory agreement.

Visit the FASSUB website.