Retained Earnings – An equity account reflecting the accumulated earnings of an Enterprise or Internal Service Fund
opportunities generated by certain HUD financial assistance shall, to the greatest extent feasible, and consistent with existing Federal, State, and local laws and regulations, be directed toward low and very low income persons, particularly those who are recipient of government assistance for housing, and to business concerns with provides economic opportunities to low and very lowincome persons.”
Revenue – Funds the government receives as income. It includes such items as receipts from other government, grants, shared revenues and interest income. Revenue Bonds – Bonds usually sold by governments for constructing projects that will produce revenue pledged to pay the principal and interest of the bond.
Section 3 Resident – A public housing resident or an individual who resides in the metropolitan area or non-metropolitan country in which the section covered assistance is expended.
Revised Budget – The Adopted Budget as amended by the Board of Commissioners to show compatibility as a result of shifts in programmatic or functional responsibilities. It is also a procedure utilized to revise established budgets to meet inter-departmental or inter-fund adjustments.
Section 8 Exiting Certificates – A type of assistance provided in the Section 8 Program. Section 8 Housing Vouchers – A type of assistance provided to low-income persons/families.
Risk Management – Organized attempt to protect, in the most economical method, a government’s assets against accidental loss..
Section 8 (HCV) Program – A federal housing program which subsidizes the rent of eligible households in the private market. The government makes Housing Assistance Payments to private landlords for the difference between fair market rent and what the family can afford to pay.
Section 202 – Section 202 mandates demolition of certain “distressed” developments that cannot be revitalized for less than the cost of vouchers. Under Section 202, demolition is required when the monthly per unit cost to renovate and maintain any contiguous property with more than 300 units and with a vacancy rate in excess of 10 percent exceeds the monthly cost of housing.
Site Improvements – Activities performed on a site that prepares it for its intended use. For example, site clearance, drainage, grading, sidewalks, landscaping, street and alleys, curbs and gutters, fencing and exterior lighting.
Section 3 – The purpose of Section 3 of the Housing and Urban Development Act of 1968, as amended by Section 915 of the Housing and Community Development Act of 1992 is to “ensure that employment and other economic
NRHA FY2019 Approved Budget
Small and Disadvantaged Business Unit (SADBU) – Office in most government agencies responsible for assisting small and disadvantaged businesses obtain government contracts.
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June 2019