HUD Publishes Monthly NSP Expenditure Report - July 1, 2020
HUD published the Monthly NSP Expenditure Report with an effective date of July 1, 2020. The report provides cumulative draw data for NSP1, NSP2, and NSP3 grantees, including:
Grant Amount: The amount of the original grant award
PI Received: The amount of program income received
PI Disbursed: The amount of program income committed and drawn down
Drawn from Grant: The amount drawn down from the original grant award
Total Drawn: The amount drawn down from the original grant award and from program income.
Note that drawdown amounts are a proxy for reported expenditures, but are not actual expenditure amounts. Expenditures are charges made to the project or program. They may be reported on a cash or accrual basis. Expenditures from the original NSP grant and expenditures from program income both count toward expenditure deadlines. HUD determines if grantees meet expenditure deadlines by comparing grantees' total expenditures from the original NSP grant and from program income to the original grant.
LOC Balance: The line of credit remaining from the original grant award. In order to close the grant, funds in the line of credit must be expended.