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HOME FACTS Vol. 3, No. 1: HOME Activities with Commitments in IDIS that are Over 12 Months Old with No Funds Disbursed

Date Published: February 2014

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Description

This issue of HOME FACTS explains an important change in HUD’s treatment of HOME activities with commitments in the Integrated Disbursement and Information System (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 All previous guidance is obsolete.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.

Note: This IDIS resource may not reflect grant based accounting requirements which HUD is implementing beginning with FY 2015 formula allocations. HUD has updated IDIS to phase out the first-in-first-out (FIFO) accounting methodology. These changes to IDIS ensure that formula funds are both committed and disbursed on a grant-specific basis, instead of using the FIFO (oldest money disbursed first) method that has been used for the Community Development Block Grant (CDBG), HOME, and Housing Opportunities for Persons With AIDS (HOPWA) Programs to date. Grant funds are already committed and disbursed on a grant-specific basis for the Emergency Solutions Grants (ESG) Program in IDIS. Funds from pre-2015 grants will continue to be committed and disbursed using the FIFO method.

Learn about grant based accounting requirements.

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Tags: HOME IDIS
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  • HUD
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  • HUD Approved