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HUD Publishes PR26 CDBG-CV Financial Summary Report Instructions

March 10, 2021 Print ShareThis

HUD is pleased to publish instructions to accompany the PR26 Community Development Block Grant CARES (CDBG-CV) Financial Summary Report.

Also known as PR26 CDBG-CV, the financial summary report is designed explicitly to report on the status of CDBG-CV funds allocated through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The report will be updated when drawdowns occur in the Integrated Disbursement and Information System (IDIS) and can be run by grantees as often as needed to see progress on the grant expenditures.

Similar to the formula PR26 CDBG Financial Summary Report, this PR26 CDBG-CV is used to determine if an entitlement grantee has remained in compliance with the:

  • Primary objective of the Housing and Community Development Act of 1974 (HCDA), which is to ensure that CDBG-CV funds are primarily used for the benefit of low- and moderate-income persons
  • Limitations placed on planning and administrative costs. Although there is a section to measure public services expenditures, the CARES Act provided a waiver to the 15 percent cap for public service activities

These instructions provide guidance to help users submit the PR26 CDBG-CV Financial Summary Report, highlighting differences from the PR26 CDBG Financial Summary Report (PR26 CDBG) submitted annually for CDBG formula grant funds. While the two PR26 Reports are both submitted annually, the PR26 CDBG-CV is streamlined to accommodate the limited scope of the CARES Act and its requirements.

View the PR26 CDBG-CV Financial Summary Report Instructions.

Tags: COVID-19 CDBG-CV IDIS