SHIP Annual Report Webinar Sponsored by the Florida Housing Finance Corporation s Affordable Housing Catalyst Program

Transcription

1 SHIP Annual Report Webinar 2015 Sponsored by the Florida Housing Finance Corporation s Affordable Housing Catalyst Program

2 What will be covered What s New: 13/14 Topics Using the Annual Report website Review of the Annual Reporting Tracking Spreadsheet Data

3 Annual Report Timing June 30: report activity through June July September 15: Create reports for 12/13, 13/14 and 14/15 One certification form signed by Chief Elected Official or Designee September 30: 13/14 Allocation Deadline October 31: 13/14 Allocation Report

4 Access Report Website Today Assistance with Access Denied : terry.auringer@floridahousing.org Update SHIP Contact and Program information

5 Update SHIP Information

6 Encumbrance & Expenditure Deadlines FY 12/13 (close-out) all funds must be expended FY 13/14 funds must be expended or encumbered FY 14/15 funds may be expended, encumbered or unencumbered Encumber for real, eligible applicants Expended = Activity is complete, costs are paid, and an eligible household occupies the unit.

7 What s New on the Reports? Deadline Policy clarified Aug /14 Allocation Funds encumbered by the June 30, 2015 deadline as described in (6)(h) may be expended through 6/30/16. Funds not encumbered should be reported to FHFC by 10/1/15. Annual report due to FHFC 10/31/15. Program Income may be expended through 6/30/16

8 October 1: Report 13/14 Funds not Encumbered Submit Explanation for Unexpended $: Strategy funds are awarded under, Timeline of when funds will be fully expended Project details explaining extenuating circumstances that lead to the delay (only related to projects/applicants, do not include staffing issues).

9 October 31 Report Report status of all funds: allocation, program income and more Amounts Expended, Encumbered or Unencumbered Amount in Carry Forward must be equal to or less than 13/14 Program Income

10 Different on the Reports Unified Certification Form replaces previous 2 Form 4: Single Family Area Purchase Price asks for the average area purchase price of single family units Include only homes purchased with SHIP assistance. Add up sales prices and divide by number of homes. Form 2: new information required

11 Form 2: New information required regarding Rent Affordability

12 Two Reports this Year 13/14 One more certification form Reg Reform and Defaults Questions- same answer as 12/13

13 Form 5: Special Needs Compliance On 13/14 and 14/15 Interim Reports 20% set aside for Special Needs Applicants Report funds Expended & Encumbered by Special Needs Category Why aren t all my strategies listed? Solution: Terry.Auringer@floridahousing.org the strategy codes that apply to Special Needs

14 Form 5: Special Needs

15 SHIP Tracking Spreadsheet with Special Needs for 14/15 and 15/16 10 percent administration budget Special Needs tracking Track Housing Counseling recipients

16 12/13 Close Out Report plus 2 Interim Reports 11/12 I I I I July 1, 2012 June 30, /13 I I I I 13/14 I I I I 14/15 I I I I 15/16 I I I I

17 Key Reporting Principles 3 years or less to spend SHIP, so you often have money from multiple FY allocations. Each year, submit 3 annual reports for 3 distributions Generally, First received, First expended Strive to pay recipient s total assistance from only one SHIP allocation

18 SHIP Annual Reports must reconcile with the General Ledger Compare SHIP Tracking to General Ledger: Sum of Unencumbered plus Unspent Encumbered money on Tracking Spreadsheet COMPARED WITH Current balance of the SHIP Local Housing Trust Fund Finance Dept: add SHIP recipient s name or app # on each expense record.

19 Meet your Set-Asides Homeownership Set-aside 65% of Distribution + Recaptured Funds Housing Counseling expenditures do not count towards compliance Construction/Rehab Set-aside 75% of Distribution + Recaptured Funds

20 The Income Set-Aside A) At least 30% of all Revenue for Very Low B) At least 60% for VLI and Low combined Special Needs Set-Aside Required for 13/14, 14/15 and 15/16 Special Needs webinar:

21 The Income Set-Aside A) At least 30% of all Revenue for Very Low B) At least 60% for VLI and Low combined Special Needs Set-Aside Required for 13/14, 14/15 and 15/16 Special Needs webinar:

22 Orientation to the Web Annual Report Orientation Video of the Report Website (Annual Report discussion begins at 25 minute mark) Password Rules: At least 7 characters long At least one non-alphanumeric character, like * or &

23 Life to date question on Form 4 RE: Defaults and Foreclosures Question is asked twice 1 st life to date question: number of foreclosures experienced by individuals who have ever received your SHIP assistance. 2 nd life to date question: number of those receiving SHIP purchase assistance who have defaulted on 1 st mortgages

24 Review and Submit Tab Includes Validation Error Messages Submit 3 Reports after curing validation errors Comments Box when Explanation is Needed

25 Certification Form Part 1: Annual Report information submitted electronically to Florida Housing Finance Corporation is true and accurate Other Parts: Regulatory Reform Certification Report data for Fiscal Year ending this June 30. Estimate housing cost increases Signed by Chief Elected Official or Designee

26 MORE on Regulatory Reform There is an ongoing process for review of local policies, ordinances, regulations, and plan provisions that increase the cost of housing prior to their adoption. 3) The cumulative cost per newly constructed housing unit from these actions is estimated to $. 4) The cumulative cost per rehabilitated housing unit from these actions is estimated to be $. Chief Elected Official or Designee Date

27 Annual Report & Tracking CHEAT SHEETS

28 CHEAT SHEETS Answer Key On Annual Report On TRAKSHIP 1 B 2 H 3 F 4 J 5 E 6 D 7 G 8 C on Form 3 9 A on Form 2 10 L on Form 2 11 M on Form 1 12 K

29 Update Tracking Daily First enter the amount encumbered per househo Later, expenditures and demographics Track Program Income Bank Interest Sale of Property Refinance Repayment of Loans Foreclosure

30 Re-Assign Expenses Re-assign to produce compliant reports Jurisdiction may CHOOSE which distribution to spend on a project, within limits Review Handout and Video Training

31 QUESTIONS?

32 Evaluation Survey: