RLF Tracking and Reporting
DOH oversees the activities carried out by its Subrecipients, and is required to report to HUD on the performance of its Subrecipient Revolving Loan Fund (RLF) programs, financial management systems, and program beneficiaries. To comply, DOH requires semi-annual and quarterly reports from RLF program Subrecipients. DOH provides the forms for these reports.
Semi-Annual Program Income or RLF Portfolio Reporting
All Subrecipients that have received or currently receive funds to operate programs that generate Program Income are required to submit semi- annual reports. The frequency of these reports may be increased as HUD requires. The semi-annual RLF Portfolio report is due by January 20th and July 20th of each year. CDBG and HOME information is reported separately, as is information on each RLF Program Activity. Each report includes:
- Gross Program Income earned for the reporting period;
- Total number of loans in the RLF portfolio for the reporting period;
- Dollar value of the full RLF loan portfolio at end of the reporting period;
- Total number of loans closed for the reporting period;
- Demographic information on new loan beneficiaries for the reporting period;
- Incomes of new loan beneficiaries for the reporting period;
- Accounting documentation, including a bank statement documenting transactions during the reporting period, and a balance sheet showing RLF balance at the end of the reporting period; and
- Additional details on the loan portfolio requested by DOH.
DOH staff will distribute a request for the semi-annual reports to all Subrecipients in December and June.
Failure to report accurately and timely may result in the recapture of Program Income or delay in processing payment requests. All supporting documentation is required for a complete report.
Quarterly Program Income Reporting
Each Subrecipient with an active RLF program contract must submit Program Income balance information on each quarterly financial status report submitted to the Asset Manager.