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PIH 2024-02PIH NoticePublished Jan 5, 2024

Shortfall Grant SF-425 Reporting Requirements

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Read the full notice (primary source)Official PDF

Summary

AI summary — grounded in the notice text

This notice establishes SF-425 Federal Financial Report reporting requirements for PHAs that received Shortfall Funding grants in FY 2020 through FY 2023. It sets specific deadlines for obligating, liquidating, and reporting on these funds via HUD's Public Housing Portal, and consolidates prior guidance that had inconsistently required such reporting. PHA staff must track grant-specific obligation, liquidation, and SF-425 submission deadlines to avoid having unspent funds recaptured by HUD.

Key Quotes

Verbatim from the notice

“This notice applies to all federal award program grantees of Shortfall Funding during FY 2020 through FY 2023.”
Defines the scope of PHAs affected by the reporting requirements

Verbatim from the notice

“This Notice implements the requirement for PHAs that received FY 2020 or FY 2021 Shortfall Funds to report on the use of those funds via the submission of the SF-425.”
Explains the core new requirement of the notice

Verbatim from the notice

“Any funds reported as not having been obligated by December 31, 2024, will be recaptured by HUD.”
Illustrates the consequence of missing the obligation deadline for FY 2020 grants

Key Dates

Published
Jan 5, 2024

Compliance deadlines

  • May 31, 2024First SF-425 due for FY 2022 and FY 2023 Shortfall grants (period ending 12/31/23 and 12/31/24 respectively)
  • Dec 31, 2024Deadline for FY 2020 Shortfall Funds to be obligated
  • Apr 30, 2025FY 2020 Shortfall Funds obligations must be liquidated; SF-425 for period ending 12/31/24 is due; LOCCS draws locked
  • Aug 30, 2025FY 2020 Shortfall grants with unobligated/unliquidated funds or cash on hand must submit SF-425 for this period
  • Dec 30, 2025SF-425 for FY 2020 period ending 8/30/25 due; remaining funds recaptured
  • Dec 31, 2025Deadline for FY 2021 Shortfall Funds to be obligated
  • Apr 30, 2026FY 2021 Shortfall Funds obligations must be liquidated; SF-425 for period ending 12/31/25 is due; LOCCS draws locked
  • Aug 30, 2026FY 2021 Shortfall grants with unobligated/unliquidated funds or cash on hand must submit SF-425 for this period
  • Dec 30, 2026SF-425 for FY 2021 period ending 8/30/26 due; remaining funds recapturedin 117 days
  • Dec 31, 2026Deadline for FY 2022 Shortfall Funds to be obligated (end of grant period)in 118 days

Programs

Public Housing
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