Live Webinar

  • 60 minutes

The President unveiled his FY 2019 budget, once again outlining his vision of devastating funding cuts to most HUD programs. The budget proposal outlined by the Office of Management and Budget (OMB) provides only $39.2 billion for HUD, an 18.3 percent reduction from FY 2017 enacted levels. This funding level is achieved by eliminating all community development programs and the Public Housing Capital Fund, as well as by slashing the Public Housing Operating Fund and other programs.

The Administration’s budget focuses on HUD’s “commitment to fiscal responsibility by reforming programs to encourage the dignity of work and self-sufficiency while supporting critical functions that provide assistance to vulnerable households.” The document references forthcoming legislative reforms that would “produce significant cost savings” and requires those capable of work to shoulder a higher rent burden.

Join this session by expert speaker Paul Flogstad, where he will review the approved work plan.

Session Highlights:

  • There are a number of highlights that we will explore in detail.

  • Public Housing Capital Fund: $0, a $1.941 billion decrease

  • Public Housing Operating Fund: $2.477 billion, a 44 percent or $1.6 billion decrease

  • Rental Assistance Demonstration: $100 million, a $100 million increase .

  • Choice Neighborhoods: $0, a $137.5 million decrease

  • Section 8 Housing Assistance Payment Renewals: $17.514 billion, a 4.6 percent or $841 million decrease

  • Ongoing Administrative Fees: $1.53 billion, a 6.7 percent or $110 million decrease

  • Family Self-Sufficiency: $75 million, level funding

  • Section 8 Project-Based Rental Assistance: $10.866 billion, a $50 million increase

  • Community Development Block Grant: $0, a $3 billion decrease

  • Home Investment Partnerships: $0, a $950 million decrease

  • Housing Opportunity for Persons with AIDS: $330 million, a 7 percent or $26 million decrease

  • Homeless Assistance Grants: $2.383 billion, level funding

Why You Should Attend:

  • Read the OMB Uniform Guidance specifically Subpart E to understand cost principles

  • Use an acceptable budget format

  • Develop assumptions

  • Communicate with accounting/finance on labor rates, fringe benefits, and grant requirements

  • Include required certification signed and dated by authorized individual

  • Indicate “Approved” on the final budget, submit to accounting, and keep in grant file

Who Should Attend:

  • Property Managers

  • Property owners

  • Leasing Consultants

  • Housing Authority Staff

  • Tax credit compliance staff

  • Developers

  • Attorney’s

  • Accountants

  • Builders

*You may ask your Question directly to our expert during the Q&A session.

** You can buy On-Demand and view it as per your convenience.

Paul Flogstad

Paul Flogstad

Paul has been involved in the real estate industry for the past 38 years. After college graduation he was in law enforcement for 4 years. From that point on, he has been involved in sales, construction, project management, appraisal, mortgage consulting and brokerage, property management and property management consulting/training. 

Most recently, he was a consultant for affordable, multi-housing properties in 22 different states. This involved properties in HUD, Rural Development and Tax Credit programs. In this role he supported managers by training, compliance, budgeting, developing policy and procedures as well as creating successful marketing strategies. Previously was a regional manager for a large property management company in South Dakota. 

For over twenty years was involved in appraisal of residential, multi-family, farm and commercial properties throughout the Midwest.

He holds numerous professional property management designations and currently holds the prestigious RHM designation from the National Center for Housing Management. 

In 2007 he formed Property Management Solutions. In this capacity, he provides training and consulting services nationwide to owners, management companies, multi-housing associations, as well as state and federal agencies. 

Paul was previously Vice President of the South Dakota Multi-Housing Association, Vice Chairman of the Minnehaha County Housing and Redevelopment Commission, and Chairman of the Sioux Falls Property Appeals Board. In 2009, he received the Outstanding Educator of the Year award from the South Dakota Multi-Housing Association.

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