On June 27, HUD released their July Explanation of CY 2017 Operating Fund Obligations. HUD bases monthly obligations on eligibility determined after processing 2017 Operating Subsidy forms. The Operating Fund proration for July is 92.4 percent, down slightly from June’s proration of 92.9 percent. Operating Subsidy obligations are cumulative, and Public Housing projects are allowed funding in the amount of seven twelfths of prorated eligibility. Funding from the continuing resolution were used to make the obligation through July as there was a slight delay in funds being made available to PIH from the full year appropriation. According to HUD, the full year appropriation will be available for the next obligation.