Public Housing Subsidies: Revisions to HUD's Performance Funding System CouldImprove Adequacy of Funding

摘要

In fiscal year 1998, the Congress appropriated $2.9 billion to subsidize theoperating costs of nearly 3,200 public housing agencies. Almost all housing agencies receive subsidies becasue the rental income they collect from their residents is not sufficient to cover the agencies' operating costs. In a report on fiscal year 1998 appropriations--Departments of Veterans Affairs and Housing and urban Development, and Independent Agencies Appropriations Bill (Senate Report 105-53)--the Senate Committee on Appropriations requested that we study the Department of Housing and Urban Development's (HUD) Performance Fund System (PFS) for allocating appropriated funds to housing agencies as operating subsidies. Under PFS, HUD determines the reasonable expenses that its will allow each housing agency to expend in managing its assets and serving its tenants and provides an annual subsidy to cover the difference between these expenses and the housing agency's projected income.