On July, 27 HUD released their August and September 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 92.85 percent. Operating Subsidy obligations are cumulative, and Public Housing projects are allowed funding in the amount of three fourths of prorated eligibility (nine out of twelve months). Funds will be available in eLOCCS not later than August 1.