General Information Tab Select the To-Do List Process 236 Overage Activity select the community from the context bar drop-down list Tasks Process 236 Overage
This task is used to ”clear” the 236 overage open items from the Subsidy tab of households who pay more than the gross potential. You can also determine the amount of retained overage during this task.
This task will create a pending General Ledger entry to debit 236 Overage and credit Overage Payable, but will not actually cut a check. You will need to create checks in your accounting software.
The purpose of this task is to report to HUD, and possibly refund, money collected each month on households for which rent is collected in excess of Basic Rent. After the month is completed, Select the 236 Contract and Month. The list of overage to be refunded will be the subsidy overage credits that were created by payments posted EFFECTIVE in that month. The Charge Date you enter on the first tab will be the effective date of the refund credit. This process cannot be started for a month until the first of the next month.
HUD requires that Excess Income (rent collected in excess of Basic Rent) be computed on a unit-by-unit basis and project owners with mortgages insured under Section 236 are permitted to retain some or all of their Excess Income if pre-authorized by HUD and under such terms and conditions as established by HUD.
All Section 236 mortgagors are to prepare and mail form HUD-93104 by the tenth of each month to report the prior month's collections. A report must be submitted each month, whether or not a remittance is required.
In compliance with TRACS 202D, any household with a HUD 236 contract and a housing voucher is excluded from this task and from the overage report.
The charge types 236 Overage, 236 Excess Rent, Overage Payable, and 236 Overage Retained all need to be set up with the appropriate GL accounts.
Accounting Detail General Information Tab Select the To-Do List Process 236 Overage Activity select the community from the context bar drop-down list Tasks Process 236 Overage
Community: Verify that you have selected the correct community to process 236 overage.
Contract: Select the contract from the drop-down list.
Month: Select the month to process from the drop-down list.
This process cannot be started for a month until the first of the next month.
Charge Date: This will be the effective date of the GL entry that is created as well as the event date for the Refund Credit events in Event History in each of the households. The system will pre-fill this field with the current date, however you may select any date prior by entering the date or selecting it from the drop-down calendar.
Click Next.
The screen will display all tenants with 236 Overage for the month chosen that is about to be refunded (cleared)
The list of overage to be refunded will be the 236 Overage Payable credits that were created by payments posted EFFECTIVE in the month selected in Step 3 above.
Click Next.
This screen allows you to enter in the amount that your are able to retain based on your 236 contract, if applicable.
Click Next.
An Overall Status window will pop up with a Passed or Failed message.
If it failed you may need to make a correction or contact Bostonpost Client Support at myMRI or contact a Client Support Analyst directly at (877) 579-8896 for assistance.
If it passed click Close
This screen is a preview of the 236 Monthly Excess Income Report (HUD-93104) that you file with HUD.
Click Next.
The report will default to print, If you do not want to print the report un-check the box next to the document name.
Click Finished.
