REAC Holiday Hours and FASSUB User Guide Changes

REAC has released its holiday hours and has requested that inspectors not schedule or conduct inspections on a federal holiday or on a weekend. They also requested that the following dates be “blacked out” for inspections: November 19-23, 2012 and December 17, 2012 to January 1, 2013. The REAC office will remain open with the exception of the above holiday dates. Find details here.

The Industry User Guide for the Financial Assessment Subsystem – Multifamily Housing (FASSUB) has gone through 2 recent revisions – the first was effective 4/27/2012, and the latest is effective 7/27/2012 (Release 7.1.8.0).

Here are some of the changes made with these recent releases:

1. Account S3600-015 was added to appendixes E and F.
2. Account S3600-020 was renamed from “Reportable Conditions Indicator” to “Significant Deficiencies”.
3. The Editing and Business Rules for account 5120 were changed.
4. The account definition/reporting reference for accounts 5300 and 6900 was changed.
5. Account number S2100-200 was added for the reporting of the management letter.

See the latest revision.