How to complete a Rural Development Budget: A to Z

Creating and submitting an accurate budget is essential for the successful operation of Rural Development (RD) properties. Whether you're new to RD budgeting or looking for a refresher, this comprehensive webinar will walk you step-by-step through the entire process—from initial preparation to final submission. You'll gain a clear understanding of the forms, timelines, documentation, and calculations required to meet USDA Rural Development expectations.

This year brings added complexity with the implementation of HOTMA (Housing Opportunity Through Modernization Act) changes that impact income calculations, deductions, and budget planning. This session will address how to incorporate these changes into your RD budget, so you remain compliant and aligned with the latest regulatory updates.

Designed with property managers, compliance professionals, and owners in mind, this session demystifies complex requirements and helps you avoid common mistakes that can delay approvals or trigger findings. Learn how to properly project expenses, justify rent increases, factor in reserve requirements, and ensure your budget aligns with RD regulations.

By the end of this training, you'll be equipped with the knowledge and confidence to complete your next RD budget accurately and efficiently.

Learning Objectives

Attendees will learn how to:

• Understand the purpose and components of the RD budget process
• Accurately complete USDA Forms such as 3560-7 (Budget/Utility Allowance) and 3560-10 (Balance Sheet)
• Project annual income, operating expenses, and reserve requirements
• Justify rent increases and service charges with proper documentation
• Address the impact of HOTMA changes on income, deductions, and eligibility, and how these affect budget assumptions
• Navigate approval timelines and submission deadlines
• Avoid common errors that lead to budget rejections or compliance issues
• Communicate effectively with RD staff and stakeholders throughout the process

Who Should Attend

• Property Managers
• Rural Development Site Staff
• Compliance Professionals
• Housing Authorities
• Management Agents
• Owners of RD Properties
• Accountants and Financial Consultants working with RD housing

Speaker(s)

Joseph Henry

Joseph Henry brings 38 years of experience to the Affordable Housing industry. Starting as a maintenance person and advancing to Director of one of the largest management companies in the Nation, Joe brings a real-life perspective to why we do what we do.

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