October 15, 2024
Richmond Housing Authority (RHA)
Economic Development
DATE: October 15, 2024
TO: Chair Martinez and Members of the Board of
Commissioners of the Richmond Housing Authority
FROM:
Nannette Beacham, Director of Economic Development
Andrea Miller, Director of Finance/Treasurer
Mubeen Qader, Deputy Director of Finance
Gabino Arredondo, RHA Interim Executive Director
Rita Martinez, Senior Accountant
Subject:
Richmond Housing Authority (RHA) Cost Allocation Plan
Approval
FINANCIAL IMPACT: Approval of the cost allocation plan will allow the City of Richmond to charge administrative or indirect services
costs to the Richmond Housing Authority.
PREVIOUS COUNCIL
ACTION:
November 7, 2023
STATEMENT OF THE
ISSUE:
A component of the financial related tasks of the Public Housing Authority Recovery and Sustainability (PHARS)
Agreement is to develop a United States Department of
Housing and Urban Development (HUD) approved Title 2
Code of Federal Regulations 200 (2 CFR Part 200)
compliant Cost Allocation Plan to be implemented for
Richmond Housing Authority budgets.
RECOMMENDED ACTION:
ADOPT a resolution approving the Title 2 Code of
Federal Regulations 200 Compliant Version Cost
Allocation Plan to be implemented for Richmond Housing
Authority (RHA) Budgeting (Fiscal Year 2024-2025) –
Richmond Housing Authority/Finance Department
(Gabino Arredondo 510-620-6606/Rita Martinez 510-621-
1546).
AGENDA
REPORT
October 15, 2024
DISCUSSION:
The Richmond Housing Authority (RHA) and City of Richmond Finance Department are requesting approval of the Title 2 Code of Federal Regulations 200 (2 CFR Part 200) compliant Cost Allocation Plan to support the development of RHA’s Central Office Cost Center (COCC) and budgets, a Public Housing Authority Recovery and Sustainability (PHARS) Agreement deliverable.
On July 27, 2021, the RHA Board of Commissioners approved consultant NBS to prepare the 2 CFR Part 200 compliant Cost Allocation Plan. The objective of the Cost Allocation Plan is to quantify the costs incurred by the City of Richmond and establish a reasonable amount of costs to be recovered from United States Department of Housing and Urban Development (HUD) on behalf of RHA.
Once the consultant completed the Cost Allocation Plan version, it was submitted to HUD Region 9 staff for review. The next step recommended by HUD Region 9 staff was for the RHA Board of Commissioners to consider and approve the Cost Allocation Plan. RHA staff is now submitting that final plan to the Board of Commissioners for final adoption.
DOCUMENTS ATTACHED:
Attachment 1 - Resolution
Attachment 2 - Cost Allocation Plan FY 2024-25 - Title 2 CFR, Part 200 Compliant