Background:
The Financial Assessment Subsystem for Public Housing Agencies (FASS-PH) is a program within Office of Public and Indian Housing’s Real Estate Assessment Center (PIH-REAC). FASS-PH assesses the financial condition of approximately 3,200 Public Housing Agencies that receive HUD funding to manage and operate public housing units for low-income residents. FASS-PH also conducts various analyses to aid in the improvement of PHAs’ financial outlook and provides guidance in identifying possible instances of waste, fraud, and/or abuse.
Solution:
Incisive developed key statistical and financial analysis using financial performance data collected by FASS-PH. Incisive also assisted with the review of accounting related materials and the preparation of documentation related to the HUD’s conversion from an agency-centric model to an asset-based model.
HUD is in process of developing a new Financial Data Schedule (FDS) to collect project-level financial data from PHAs. Incisive performed Users’ Acceptance Testing (UAT) to test HUD’s new FDS. We also participated in development of a step by step system user guide, questionnaires to report findings, and a system support line.
Outcome:
HUD can assess the financial condition of approximately 3,200 PHAs. Also, HUD is able to facilitate and improve the financial assessment process and validate current FASS-PH policies, procedures, and the assessment methodologies. |
