CPD Memo: System and Regulatory Changes to Eliminate First-In-First-Out Accounting in IDIS

Description

The memo describes pending system and regulatory changes in Integrated Disbursement and Information System (IDIS) that will significantly impact the administration of the Community Development Block Grant (CDBG), HOME Investment Partnerships (HOME), Emergency Solutions Grants (ESG) and Housing Opportunities for Persons with AIDS (HOPWA) block grant programs.The HUD Office of the Inspector General (OIG) and the Office of Management and Budget (OMB) have determined that the first-in-first-out (FIFO) accounting methodology used by IDIS does not comply with federal financial standards. In addition, the Government Accountability Office is requiring a change to the way that HOME commitments are calculated.

Resource Links

• CPD Memo: System and Regulatory Changes to Eliminate First-In-First-Out Accounting in IDIS (PDF)