30-Day Notice of Proposed Information Collection: Multifamily Financial Management Template

 
CONTENT

Federal Register, Volume 83 Issue 227 (Monday, November 26, 2018)

Federal Register Volume 83, Number 227 (Monday, November 26, 2018)

Notices

Page 60442

From the Federal Register Online via the Government Publishing Office www.gpo.gov

FR Doc No: 2018-25653

-----------------------------------------------------------------------

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Docket No. FR-7001-N-56

30-Day Notice of Proposed Information Collection: Multifamily Financial Management Template

AGENCY: Office of the Chief Information Officer, HUD.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: HUD submitted the proposed information collection requirement described below to the Office of Management and Budget (OMB) for review, in accordance with the Paperwork Reduction Act. The purpose of this notice is to allow for 30 days of public comment.

DATES: Comments Due Date: December 26, 2018.

ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: 202-395-5806, Email: OIRA email protected.

FOR FURTHER INFORMATION CONTACT: Inez C. Downs, Reports Management Officer, QMAC, Department of Housing and Urban Development, 451 7th Street SW, Washington, DC 20410; email email protected, or telephone 202-402-8046. This is not a toll-free number. Persons with hearing or speech impairments may access this number through TTY by calling the toll-free Federal Relay Service at (800) 877-8339.

Copies of available documents submitted to OMB may be obtained from Ms. Downs.

SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is seeking approval from OMB for the information collection described in Section A.

The Federal Register notice that solicited public comment on the information collection for a period of 60 days was published on August 16, 2018 at 83 FR 40780.

  1. Overview of Information Collection

    Title of Information Collection: Multifamily Financial Management Template.

    OMB Approved Number: 2502-0551.

    Type of Request: Reinstatement without change, of previously approved collection.

    Form Number: None.

    Description of the need for the information and proposed use: Owners of certain HUD-insured and HUD assisted properties are required to submit annual financial statements to HUD via the internet in the HUD prescribed format and chart of accounts, and in accordance with the Generally Accepted Accounting Principles (GAAP). Most owners of Multifamily Housing (MFH) properties are required to submit annual financial statements to HUD. In accordance with the Department's Uniform Financial Reporting Standards (UFRS) regulation, 24 CFR part 5, owners of certain HUD-insured and HUD-assisted properties are required to submit annual financial statements electronically to HUD via the internet in the HUD-prescribed format and chart of accounts, and in accordance with the Generally Accepted Accounting Principles (GAAP). The Department uses this information to monitor the owner's compliance with regulatory requirements and to assess fiscal performance.

    Respondents: Business or other for profit.

    Estimated Number of Respondents: 26,995.

    Estimated Number of Responses: 26,995.

    Frequency of Response: 1.

    Average Hours per Response: 14.

    Total Estimated Burden: 377,930.

  2. Solicitation of Public Comment

    This notice is soliciting comments from members of the public and affected parties concerning the collection of information described in Section A on the following:

    (1) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;

    (2) The accuracy of the agency's estimate of the burden of the proposed collection of information;

    (3) Ways to enhance the quality, utility, and clarity of the information to be collected; and

    (4) Ways to minimize the burden of the collection of information on those who are to respond: Including through the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses.

    HUD encourages interested parties to submit comment in response to these questions.

    Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35.

    Dated: November 14, 2018.

    Inez C. Downs,

    Department Reports Management Officer, Office of the Chief Information Officer.

    FR Doc. 2018-25653 Filed 11-23-18; 8:45 am

    BILLING CODE 4210-67-P