93486-ORCF Computation of Surplus Cash, Distributions and Residual

Computation of Surplus Cash, Distributions and Residual Receipts Section 232

U.S. Department of Housing and Urban Development Office of Residential Care Facilities

OMB Approval No. 9999-9999 (exp. mm/dd/yyyy)

Public reporting burden for this collection of information is estimated to average 0.5 hour(s). This includes the time for collecting, reviewing, and reporting the data. The information is being collected to obtain the supportive documentation which must be submitted to HUD for approval, and is necessary to ensure that viable projects are developed and maintained. The Department will use this information to determine if properties meet HUD requirements with respect to development, operation and/or asset management, as well as ensuring the continued marketability of the properties. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. 

Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil liability, and administrative sanctions. 

Project Name:		Fiscal Period Ended: ___/___/___			FHA Project Number:
PART A – Compute Surplus Cash
Cash
Cash (Accounts 1120, 1170, 1191)				$
Medicare/Medicaid Receivables to be received within 60 days and not encumbered by Accounts Receivable Financing (optional for non-profit projects)				$
Other (describe)				$
Total Cash (Add Lines 1, 2 and 3)						$
Current Obligations
Accrued Mortgage Interest Payable				$
Delinquent Mortgage Principal Payments				$
Delinquent Deposits to Reserve for Replacements				$
Accounts Payable (due within 30 days)				$
Loans and Notes Payable (due within 30 days)				$
Deficient Tax Insurance or MIP Escrow Deposits				$
Accrued Expenses (not escrowed)				$
Prepaid Revenue (Account 2210)				$
Tenant Security Deposits Liability (Account 2191)				$
Other (describe)				$
Total Current Obligations (add Lines 4 through 13)						$
Surplus Cash (Deficiency) (Line 3(a) minus Line 13(b))						$
PART B – Compute Distribution to Owners and Required Deposit to Residual Receipts
Surplus Cash (Deficiency). (For-profit projects)						$
Residual Receipts (Non-profit projects) (must be deposited with Lender within 60 days after Fiscal Period ends, as governed by applicable Regulatory Agreement)						$
Prepared By			Reviewed By
Loan Technician	Date		Loan Servicer				Date

Instructions for Preparation of Form HUD-93486-ORCF, Computation of Surplus Cash, Distributions and Residual Receipts

Part A

Line 1. Do not include escrow deposits or HUD required reserves.

Line 2. Medicare/Medicaid Receivables (to be received within 60 days) (optional for non-profit projects)

Line 3. Include amounts related to replacement reserve draws for items which have:

• Been paid from project funds, and

• Approved by HUD prior to the end of the fiscal year, but

• For which reimbursement has not been received from the lender.

Line 4. For projects current under the mortgage, include the interest payment due the first of the next month (Account 2130). Remember interest is paid in arrears: interest for the month of December is payable January 1. For projects in default under the mortgage, include delinquent interest payments shown on the Form HUD-92426, Notice of Default; use the Form HUD-92426 for the month following the last month covered by the financial statement. For HUD-held projects, include delinquent interest shown on the Form HUD-92771, Notice of Mortgage Payment Due; use the HUD-92771 for the month following the last month covered by financial statements.

Line 5. Include principal delinquent under the mortgage. This should be the difference between the unpaid balance shown on the amortization schedule and the amount shown in Account 2320 as the Balance Sheet date.

Line 6. Include any delinquent deposits to the reserve for replacement account (Account 1320). Be sure to include any lump-sum deposits required by special workout agreements or subsidy contracts.

Line 7. Exclude accounts payable related to replacement reserve draws which were:

• Approved by HUD prior to the end of the fiscal year, but

• Which have not yet been released by the lender and deposited in the project account.

Line 9. Include any deficiency reported in the mortgage escrow deposits schedule of the Supplemental Data to the financial statement. Note that replacement reserve deposits are not included; delinquent replacement reserve deposits are included in Line 6.

Part B

Line 1. If the amount on Line 13(c) of Part A was zero or negative, enter zero. If the amount on Line 13(c) of Part A was positive, enter that amount here. This amount is available for distribution during the next fiscal period (for-profit projects only).

Line 2. If the amount on Line 13(c) of Part A was zero or negative, enter zero. If the amount on Line 13(c) of Part A was positive, enter that amount here. This amount must be deposited with Mortgagee within 60 days after Fiscal Period ends (non-profit projects only).

Previous versions obsolete Page 2 of 2 form HUD-93486-ORCF (mm/dd/yyyy)