HOME FACTS is the Office of Affordable Housing Programs' Official Financial and Information Services Division newsletter for the HOME Investment Partnerships Program. Each HOME FACTS will address a topic related to HOME finance, such as HOME grants, deadline compliance, and repayments, or HOME computer systems processed in the Integrated Disbursement and Information System (IDIS). To view a particular newsletter, click on its corresponding volume and number.
This issue of HOME FACTS explains and illustrates how to use program income (PI), repayments to the local account (IU), and recaptured homebuyer (HP) funds that are deposited in a Participating Jurisdiction’s (PJ’s) HOME Investment Trust Fund local account. This HOME FACTS also explains the impact of local account funds on committing and disbursing HOME Treasury account funds in IDIS, including changes due to the implementation of grant based accounting for fiscal year (FY) 2015 and subsequent years’ grants.
Date Published: January 2016
This issue of HOME FACTS explains and illustrates the process of committing and disbursing HOME funds in IDIS, including changes due to the implementation of grant based accounting for FY 2015 and subsequent HOME grants. This document focuses on funds in PJs’ HOME Investment Trust Fund Treasury accounts.
Date Published: June 2015
This issue of HOME FACTS describes significant changes regarding the CHDO reservation requirement and a new CHDO expenditure requirement promulgated by the July 24, 2013.
Date Published: April 2015
This issue of HOME FACTS explains how to create HOME vouchers for CHDOs, subrecipients, and state recipients in IDIS.
Date Published: November 2013
This issue of HOME FACTS explains how IDIS treats open HOME activities that have been in final draw for more than 120 days and describes a HOME PJ's responsibilities regarding these activities.
Date Published: March 2013
This issue of HOME FACTS explains how to create a PA (program income for administration) subfund and subgrant PI (program income) in IDIS.
Date Published: December 2012
This issue of HOME FACTS explains how to change the tenure type of HOME Homebuyer activities to HOME Rental activities in IDIS OnLine.
Date Published: January 2012
This issue of HOME FACTS explains the recent addition of two HOME program certifications to IDIS OnLine. The certifications were added to IDIS OnLine in response to recent HUD Office of Inspector General internal audits of the HOME program related to project commitments and the disbursement of program income. These audits found significant problems related to the set-up of projects in IDIS before a written agreement was signed and with failure to report program income and expend program income before drawing funds from the Federal HOME account.
Date Published: September 2010
This issue of HOME FACTS explains an important change in HUD’s treatment of HOME activities with commitments in IDIS that are over 12 months old with no funds disbursed. Effective with IDIS Release 11.7 in March 2014, these activities are automatically cancelled by IDIS on a daily basis and the funds uncommitted, following the process described below. All previous guidance is obsolete.
This guidance was originally published June 2010 and revised February 2014.
Date Published: February 2014
This revised issue of HOME FACTS has updated the process field office staff must follow to determine each PJ’s compliance with HOME’s commitment, CHDO reservation, and expenditure requirements both prior to and after the PJs deadline date, and provides timeframes for this review. All other previous guidance is obsolete.
May 2009: Original Publication
December 2014: First Revision
Date Published: December 2014
This issue of HOME FACTS notifies all HOME PJs about the September 30 2009, expiration of the right to draw down FY 2002 HOME grant funds. As of that date, any unexpended balances in FY 2002 grants will be recaptured by the United States Treasury. This deadline and expenditure requirement has been established by the U.S. Treasury, and is in addition to the HOME program's regulatory 5-year disbursement requirement.
Date Published: February 2009
This issue of HOME FACTS specifies how HUD determines when a HOME PJ's 24-month commitment period begins and ends. Specifically, HUD must ensure that the date HUD executes a PJ's HOME Investment Partnerships Agreement (HUD-40093) and the date on the transmittal letter to the PJ are the same as its congressional release date, prior to forwarding the grant agreement to the PJ.
Date Published: January 2009
This issue of HOME FACTS explains how to use IDIS PR 27 Status of HOME Grants report to compute a PJ's commitment requirement and total commitments; CHDO reservation requirement and total CHDO reservations; and expenditure requirement and total expenditures for the HOME Program.
Date Published: April 2015
This issue of HOME FACTS sets forth the process to be followed by a PJ to request a reduction to its CHDO set aside in one or more years to an amount less than 15 percent of its HOME allocation in those years.
Date Published: May 2008
This revised issue of HOME FACTS has updated the process for the repayment of funds expended on ineligible costs or activities to a HOME PJ's HOME Investment Trust Fund Treasury Account. Instructions are also provided on making revisions in IDIS to specific grants to reflect changes in draws when funds are repaid. All other previous guidance is obsolete.
April 2008: Original Publication
January 2014: First Revision
December 2014: Second Revision
Date Published: December 2014