04-10808. Notice of Submission of Proposed Information Collection to OMB; Monitoring Residual Receipts Accounts

AGENCY:

Office of the Chief Information Officer, HUD.

ACTION:

Notice.

SUMMARY:

The proposed information collection requirement described below has been submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal.

HUD is requesting OMB approval to collect information from multifamily projects with HUD-insured and HUD-held mortgages. The Department must collect information on residual receipts accounts in order to ensure the appropriate management of funds.

DATES:

Comments Due Date: June 14, 2004.

ADDRESSES:

Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB approval Number (2502-Pending) and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: [phone].

FOR FURTHER INFORMATION CONTACT:

Wayne Eddins, Reports Management Officer, AYO, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; e-mail [e-mail]; telephone [phone]. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Mr. Eddins.

SUPPLEMENTARY INFORMATION:

This Notice informs the public that the U.S. Department of Housing and Urban Development (HUD) has submitted to OMB, for emergency processing, a survey instrument to obtain information from faith based and community organizations on their likelihood and success at applying for various funding programs. This Notice is soliciting comments from members of the public and affecting agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collection of information on those who are to respond; including through the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses.

This Notice also lists the following information:

Title of Proposal: Monitoring Residual Receipts Accounts.

OMB Approval Number: 2502-Pending.

Form Numbers: None.

Description of the Need for the Information and Its Proposed Use: Pursuant to the Regulatory Agreement for Multifamily Housing insured mortgages, under Sections 207, 220, 221(d)(4), 231, 232, and 236, owners are required to adhere to certain guidelines regarding Surplus Cash and to establish a Residual Receipt Account. These receipts are completed and submitted to HUD by owners of insured multifamily projects. The information collected is used by HUD, owners, and non-profit entities for the disbursement of funds.

Respondents: Business or other for-profit, and Not-for-profit institutions.

Frequency of Submission: Annually.

	Number of respondents	Annual responses	×	Hours per response	=	Burden hours
Reporting Burden	20,000	20,000		2		40,000

Total Estimated Burden Hours: 40,000.

Status: Request for approval of an existing information collection in use without an OMB control number.

Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended.

Dated: May 6, 2004.

Wayne Eddins,

Departmental PRA Compliance Officer, Office of the Chief Information Officer.