Date Published: July 2016
It depends. The frequency of approval is determined by the scope of the grantee’s request to the Field Office. A grantee may request a one-time transfer of program income on hand. A grantee may also identify and ask for transfer of all expected program income from a particular activity of group of activities (such as a rehab portfolio). The two approaches may also be combined. Please note that HUD strongly recommends combining the two approaches to include all unused NSP program income on hand plus all future program income from identified sources. Once HUD permission is granted, then the grantee may receipt the amounts identified in accordance with HUD’s written permission.