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This document outlines the database specifications for the Financial Assessment Subsystem – Public Housing (FASS-PH) as part of the Real Estate Assessment Center (REAC). It details the purpose,
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How to fill out DATABASE SPECIFICATIONS Financial Assessment Subsystem – Public Housing

01
Gather required financial data for the public housing assessment.
02
Access the DATABASE SPECIFICATIONS template for the Financial Assessment Subsystem.
03
Fill in the appropriate sections, starting with general information about the public housing entity.
04
Input detailed financial metrics, including income sources, expenses, and liabilities.
05
Ensure all calculations are accurate and validated against supporting documents.
06
Review the filled-out specifications for completeness and compliance.
07
Submit the completed DATABASE SPECIFICATIONS for review by relevant authorities.

Who needs DATABASE SPECIFICATIONS Financial Assessment Subsystem – Public Housing?

01
Public housing administrators who are responsible for financial assessments.
02
Financial analysts evaluating funding requirements for public housing.
03
Regulatory bodies overseeing public housing financial operations.
04
Researchers studying the financial sustainability of public housing programs.
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About PHAS The Public Housing Assessment System, or PHAS, is the system that HUD uses to assess a PHA's. performance in managing its low-rent public housing programs. HUD uses a centralized system to. collect individual subsystem scores using various sub indicators and produces a composite PHAS.
important terms: • PHA: Public Housing Authority, referred to here as “housing authority” • HUD: The U.S. Department of Housing & Urban Development.
The primary difference between Section 8 and public housing is who owns and manages the properties. HUD manages both programs, but with Section 8, private landlords own the property and they accept Section 8 vouchers on behalf of their renters. Whereas, public housing is government-owned and -operated properties.
Generally, families must be extremely low-income or very low-income to qualify. Applicants must be a U.S. citizen or eligible non-citizen as defined by HUD. The head of the household must have a valid Social Security number.
The Public Housing Assessment System, or PHAS, is the system that HUD uses to assess a PHA's. performance in managing its low-rent public housing programs. HUD uses a centralized system to. collect individual subsystem scores using various sub indicators and produces a composite PHAS.

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The DATABASE SPECIFICATIONS Financial Assessment Subsystem – Public Housing is a system designed to collect, analyze, and report financial data related to public housing agencies and their operations. It provides a structured way to assess the financial health and performance of public housing entities.
Public housing agencies that receive federal funding or are involved in administering public housing programs are required to file the DATABASE SPECIFICATIONS Financial Assessment Subsystem – Public Housing.
To fill out the DATABASE SPECIFICATIONS Financial Assessment Subsystem – Public Housing, agencies must gather relevant financial information, follow the established guidelines and templates provided by HUD, and submit the completed forms through the designated electronic filing system.
The purpose of the DATABASE SPECIFICATIONS Financial Assessment Subsystem – Public Housing is to ensure transparency and accountability in the financial operations of public housing agencies by providing a standardized method for reporting financial performance and allowing for regulatory oversight.
The information required to be reported includes financial statements, revenue and expense data, asset and liability balances, and other related financial metrics that reflect the agency's financial status and operational performance.
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