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We completed our review of the New Hampshire Housing Finance Authority's (Authority) cost allocation, operating reserves, and technology expenditures. We initiated this survey at the request of the U.S. Department of Housing and Urban Development's (HUD) Office of Public Housing. Our objective was to determine whether the Authority properly allocated costs, maintained appropriate reserves, and managed its technology equipment and information services. Due to the nature of cost allocation, our review was expanded and examined the allocations to five major programs The Housing Choice Voucher, Section 8 New Construction/Substantial Rehabilitation, Section 8 Housing Assistance Payments - Special Allocations, HOME Investment Partnerships, and Section 8 Moderate Rehabilitation programs. funded by HUD.

The Authority generally administered its cost allocation, operating reserves, and technology expenditures in accordance with HUD requirements. However, its decision to operate its Information Services and Technology Division on an in-house basis was not supported by a cost analysis. We addressed this issue in a separate memorandum to HUD management.

This report contains no formal recommendations, and no further action is necessary.