Form Hud-9834 - Management Review For Multifamily Housing Projects Page 5

U.S. Department of Housing and Urban Development

OMB Approval No. 2502-0178

Management Review for Multifamily

Exp. 11/30/2011

Office of Housing – Federal Housing Commissioner

Housing Projects

8. What was the most recent Financial Assessment Subsystem (FASS) score? (This question applies only to HUD Staff)

Enter FASS Score

If financial reporting is not required determine why; and record in reviewer comments below.

Comments:

9. Have the following reports been consistently submitted on a timely basis? (Look at multiple periods) Check the appropriate box for reports received and indicate

whether or not the report. (This question applies only to HUD Staff/Mortgagees)

Annual Audited Financial Statement Yes

N/A

Date last report was due:

Date last report received:

Monthly Accounting Report Yes

N/A

Excess Income Report (HUD-93479, 80, 81) Yes

N/A

Quarterly performance report for projects on flexible subsidy, modification, workout, etc. (9813c) Yes

N/A

Annual operating budget (cooperatives) Yes

N/A

If the reports have been submitted, were they received in acceptable form?

Yes

Comments:

10. Has owner corrected all findings on HUD financial and or Inspector General audits? (This question applies only to HUD Staff/Mortgagees)

Yes

N/A

List findings outstanding and determine whether remedial action is required to assure correction within established goals:

Comments:

11. Do project operating expenses appear reasonable compared with similar projects? (This question applies only to HUD Staff) D10

Yes

Indicate latest OPIIS rating and check problem areas flagged by OPIIS.

Administrative

Maintenance

Utility

Taxes and Insurance

Financial

Also, use OPIIS to conduct an expense comparison.

12. Does annual financial analysis or FASS printout indicate that project is free of actual or potential financial problems? (This question applies only to HUD Staff)

Yes

For each of last 3 years, enter Profit (Loss) before depreciation (from the Statement of Profit & Loss).

Year

13. If the owner/agent has taken unauthorized distributions, reimbursements, or supervision fees, have these been repaid? (This question applies only to HUD

Staff/Mortgagees)

Yes

If no, indicate amount due project.

14. If required, have all required deposits to the residual receipts fund been made? (This question applies only to HUD Staff)

Yes

Comments:

Page 2 of 25

form HUD-9834 (6/2009)

Ref. HUD Handbook 4350.1, REV-1

and HUD Handbook 4566.2