Guide to Financial Management for Resident Management Corporations. Part 1.Budgeting and Operating Subsidy

摘要

The guide is divided into two major parts: budgeting and accounting. In eachpart, it is intended that Residential Management Corporation's (RMCs) work in partnership with the Public Housing Administration (PHAs) to facilitate the development and use of a financial management system that is compatible with the PHA financial management policies and procedures and the Annual Contributions Contract between HUD and the PHA. The use of the guide assumes that there is or will be a PHA-RMC management contract to serve as the mechanism by which funding transactions take place between the two. The guide applies to all RMCs, but reflects requirements that must be met by those having a new or renegotiated PHA management contract effective on or after October 7, 1988.