**GAO-08-199T**                      Published: Oct 17, 2007. Publicly Released: Oct 17, 2007.                  

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## Highlights

The Department of Housing and Urban Development (HUD) provides subsidies, known as housing assistance payments, under contracts with privately owned, multifamily projects so that they are affordable to low-income households. Project owners have expressed concern that HUD has chronically made late housing assistance payments in recent years, potentially compromising owners' ability to pay operating expenses, make mortgage payments, or set aside funds for repairs. This testimony, based primarily on a report issued in 2005, discusses the timeliness of HUD's monthly housing assistance payments, the factors that affected payment timeliness, and the effects of delayed payments on project owners.

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## Topics

Housing

Contract administrationContract termsFunds managementGovernment contractsHousingHousing programsInternal controlsLate paymentsLow income housingProgram evaluationRecords managementSchedule slippagesSubsidiesContract mismanagement