Performance Deadlines

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A key program-wide monitoring responsibility is ensuring that adequate progress is being made toward committing and spending HOME funds. Monitoring staff should periodically review internal PJ reports and contact owners, developers, sponsors, sub recipients, state recipients, and contractors administering HOME-funded activities on behalf of the PJ. The performance deadline should also be clearly stated in the HOME written agreements.

Performance Deadlines - Committing Funds
On a regular basis, PJ monitoring staff should use internal reports and data from the IDIS system to assess progress in committing program funds.

In particular, the monitor should examine whether the commitment rate issufficient to have all current funds (except the 10 percent set- aside for program administration costs) committed (Glossary) by the expiration date. This is generally 24 months from the last day of the month in which HUD and the PJ enter into a HOME Partnership Agreement.

If the commitment rate is not sufficient, there may be efficiency problems that the PJ may need to explore through in-depth reviews of other entities.

Performance Deadlines - Spending & Matching Funds
Monitoring staff should also look at the progress of all entities in spending and matching HOME program funds.

Spending Funds:

	Any funds remaining in a PJ's HOME Investment Trust Fund more than 60 months from the last day of the month in which HUD and the PJ entered into a HOME Agreement are subject to recapture.
	Monitoring staff should review expenditure reports on a quarterly basis to track this performance indicator. Drawdowns that have occurred since the last report should be added to the expenditure total.
	Monitors should be aware that slow expenditures might be symptomatic of program management and efficiency problems that may deserve further attention.

Matching Funds:

Monitors should regularly review progress in generating the required HOME match. PJs are obligated to match at least 25 percent of eligible amounts they draw from their HOME Trust Fund account over the course of the program year with contributions from non-federal sources.