Project Interface with DCA

1. Project Interface with DCA Basic procedures for communicating with DCA on project (unit by unit) basis

2. Banking Requirements • Can only draw funds on “as needed” basis • Use separate, non interest bearing account • Use separate account for each CHIP award • Funds must be expended (checks written and disbursed within 7 days of receipt) • Any funds not expended in 7 days must be returned to DCA promptly • Only minimum amount of funds ($100) to keep account open may remain in account CHIP Financial Manangement

3. Setting Up Your Projects • Project set-up forms are completed for each individual project. • For communities that are setting up a project for land acquisition and you do not yet have a prospective buyer for the home that will be built, you may provide as little information as the address of the site you are purchasing. For all other projects complete the set up form in its entirety. CHIP Financial Manangement

4. Remember, No Set-Up, No Drawdown • Funds may not be drawn down until you receive a “Project Set Up” form date stamped with a project set-up number back from DCA CHIP Financial Manangement

5. Revised Project Set-Up • Submit revised project set-up if amount increases • Mark the box “revised” • No revised set-up form needed if funds decrease • Actual amount expended is indicated on project completion report CHIP Financial Manangement

6. Drawing Down Administrative Funds • Can only draw down administrative funds after: • DCA clears special conditions • CHIP checking account is set up • DCA has received your signature cards • (Signature cards are yellow) CHIP Financial Manangement

7. Drawing Down Administrative Funds • Can draw up to 25 % of administrative funds upon DCA clearance of special conditions • Can draw up to 75 % of total administrative funds after ½ of total CHIP award is disbursed • Final 25 % administrative funds drawn after: • Completion of last project • Submission of all close-out materials • Submission of all project completion reports CHIP Financial Manangement

8. REMEMBER • No final 25% administrative draw until DCA has received all project completion reports. CHIP Financial Manangement

9. Drawing Project and Project Delivery Fees • Only drawn on project by project basis • Only drawn after DCA sets project up in HUD IDIS system • Only drawn after SR receives confirmation from DCA of the set up and project number • SR can then send DCA request for draw for one or more project payments and administrative fees CHIP Financial Manangement

10. Maximum Disbursement Timeframe • SR may send draw requests daily • DCA processes twice weekly • All draws must be originals • Sent by mail, courier, or hand delivered • Draw request for final project cost on rehab, recon, or new construction must include “Contracts and Subcontracts for Project Completed” form • All payments by wire transfer – except unusual circumstance (only happened once in 10 years) CHIP Financial Manangement

11. Project Completion • Submit project completion report within 60 days of final project draw • Must complete applicant data • Remember, DCA will not process final administrative draw until all project completion reports received CHIP Financial Manangement

12. Quarterly Report • First one due January 31, 2010 for period September 25th – December 31st • Others due within 30 days of end of each subsequent quarter • Section II – information is cumulative • Once a project is set-up and put on report, it never comes off – it stays on report as it progresses • Section IV – not required CHIP Financial Manangement

13. Final Quarterly Report • Submit after all project completed and closed-out • Monitoring Visit after submission of final quarterly report • Can request final administrative draw after: • Receipt of final quarterly report • Submitted all close out documentation • Submitted all project completion reports CHIP Financial Manangement