HUD Awards $25 Million to PHAs in Shortfall Funding

Date Published: 
September 22nd, 2023

HUD announced yesterday that it had awarded $25 million set aside from FY 2023 appropriations to 157 PHAs at risk of experiencing public housing operating funding shortfalls. The list of awardees is available here. 

PIH Notice 2023-18 stipulates that a PHA that has less than three months of operating expenses held in reserve is eligible to receive shortfall funding. HUD uses several metrics to determine eligibility, including Financial Data Schedule (FDS), PIC data, the PHA’s Quick Ratio (a measure of liquidity), and Months Expendable Net Assets Ratio (a measure of the adequacy of reserves).  

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