Build HCV Financial Management Expertise

HCV financial management teams should download the Form HUD-50058 Family Report, which enters the family/participant data into HUD’s IMS/PIC system. Sections 6 through 17 are specific to income, rent, HAP calculation, and other data that directly contribute to the information entered into the Voucher Management System (VMS).

Form 50058 Materials:

• Form HUD-50058 Family Report
• Form HUD-50058 Instruction Booklet

The following links are to additional policy guidance and other relevant financial management and reporting materials that can be accessed on the Housing Voucher Financial Management Division (FMD) and Financial Management Center (FMC) websites.

• HCV Funding Implementation Notice
• Financial Reporting Requirements
• Housing Voucher FMD: The Housing Voucher FMD coordinates and manages funding and financial management activities for the housing voucher and moderate rehabilitation programs. FMD has specific responsibility for budget formulation, resource allocation, and funds control.
• HCV FMC: The scope of responsibility of the FMC encompasses project-based and tenant-based Section 8 subsidy programs and all financial management activities required for those programs. Financial management activities include the creation of reservations and contracts, the review and approval of budgets, the reconciliation of year-end settlements, the calculation and provision of renewal and amendment funding, the maintenance of funding controls, and the maintenance of electronic financial and programmatic information.

• Step-by-Step Guide: HCV Forecasting Tool: This file contains step-by-step instructions for using the HCV Two-Year Tool. Visit the HCV Utilization Tools webpage to access current information such as the HCV Monthly Summary and the HCV Two-Year Tool.
• VMS - Reporting Requirements: Access this website for information on VMS reporting requirements.
• Form HUD-52681-B Voucher for Payment of Annual Contributions and Operating Statement: Use this link to download the Form HUD-52681-B.
• VMS User Manual: The VMS supports the information management needs of the Housing Choice Voucher Program (HCVP) and management functions performed by the FMD and the FMC of Public and Indian Housing and the Real Estate Management Center (PIH-REAC). This system’s primary purpose is to monitor and manage PHA use of vouchers. VMS collects PHA data that enables HUD to fund, obligate, and disburse funding in a timely manner based on actual PHA use.
  • Use the link above to download the VMS User Manual. Also visit the Housing Voucher FMD or HCV FMC websites for updates to the manual, administrative fee rates, and changes to policies and procedures.
• FDS Submission Upload Tool: The Financial Data Schedule (FDS) Submission Upload Tool is available to all PHAs to upload FDS and Data Collection Form (DCF) information into a draft unaudited FASS-PH submission. (This functionality is not available for an audited submission.) The template will accommodate all programs including the Central Office Cost Center (COCC), Eliminations, and the “Other Project” column; users will be able to add or remove projects and programs based on need. HUD will update the FDS Submission Upload Tool when there are new or modified FDS or DCF line items.
  • Download and save the template offline to practice accurately entering data in the appropriate fields and line items while offline and referencing the User Guide.
• FDS Submission Upload Tool User Guide: Review this User Guide for information on how to enter data for an unaudited submission into the Excel Upload Template, then upload the template into the FASS-PH system. Access both the tool and manual on the FDS Submission Upload Tool webpage.

The following links are to reading recommended for HCV financial management teams to better understand the regulatory basis for determining income and calculating rent, which are necessary components for calculating housing assistance payments (HAP) in the HCV program.

24 CFR Part 5 (Relevant Excerpts):

• 24 CFR § 5.609—Annual Income
• § 5.611 Adjusted income
• § 5.628 Total tenant payment
• § 5.630 Minimum rent
• § 5.632 Utility reimbursements
• § 5.634 Tenant rent

24 CFR Part 5 Subparts:

• 24 CFR Subpart F - Section 8 and Public Housing, and Other HUD Assisted Housing Serving Persons with Disabilities: Family Income and Family Payment
• 24 CFR Subpart E - Restrictions on Assistance to Noncitizens (Mixed Families)
• § 5.520 Proration of assistance
• § 5.522 Prohibition of assistance to noncitizen students

The following links are to reading recommended for HCV financial management teams to better understand the regulatory basis for the HCV funding process, calculation of rent and the HAP, portability billing, and reporting and compliance requirements.

24 CFR Part 982 Subparts:

• 24 CFR Subpart C - Funding and PHA Application for Funding
• 24 CFR Subpart D - Annual Contributions Contract and PHA Administration of Program
• 24 CFR Subpart K - Rent and Housing Assistance Payment

24 CFR Part 983 is reading recommended for HCV financial management teams to better understand the Project-Based Vouchers (PBV) Program and regulations.

The United States Housing Act of 1937 can help HCV financial management teams better understand the statutory basis of the HCV program.