Statutes, codes, and regulations
New York Codes, Rules and Regulations
Title 9 - EXECUTIVE DEPARTMENTSubtitle S - Division of Housing and Community RenewalChapter III - Low Rent HousingSubchapter D - Accounting Manual For Public Housing AgenciesPart 1642 - Basic Instructions
Subpart 1642-4 - Tenant Accounting
Section 1642-4.8 - Recording income derived from tenants

N.Y. Comp. Codes R. & Regs. tit. 9 § 1642-4.8

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Current through Register Vol. 46, No. 25, June 18, 2024
Section 1642-4.8 - Recording income derived from tenants
(a) At the close of business at the end of each month, income derived from tenants shall be recorded in the general and the income analysis ledgers by a journal entry, as follows:

Debit: Account 1122, Tenants Accounts Receivable$XXX
Debit: Account 3111, Dwelling Vacancy Loss$XXX
Credit: Account 3110.1 Dwelling (Basic) Rent Schedule$XXX
Credit: Account 3110.2, Dwelling Rent Surcharges$XXX
Credit: Account 3110.3, Retroactive Surcharges$XXX
Credit: Account 3110.4, Excess Utility Charges$XXX
Credit: Account 3390, Net Non-Dwelling Rent$XXX
Credit: Account 3510, Sales and Services to Tenants$XXX
Credit: Account 3590, Miscellaneous Project Income$XXX

(b) The sources of the figures for this entry are as follows:

Item

Source

Tenants Accounts ReceivableColumn 10 of the Tenants Charge and Credit Book
Dwelling Vacancy LossColumn 17 of the Rent Roll and Vacancy Loss Control Book
Dwelling Rent ScheduleThis is the Basic Rent Schedule recorded in column 10 of the Rent Roll and Vacancy Loss Control Book as of the last day of the previous month
Dwelling Rent SurchargesColumn 20 of the Rent Roll and Vacancy Loss Control Book
Retroactive SurchargesColumn 13 of the Rent Roll and Vacancy Loss Book
Net Non-Dwelling RentalsColumn 5 of the Tenants Charge and Credit Book
Sales and Services to TenantsColumn 6 of the Tenants Charge and Credit Book
Miscellaneous Project IncomeColumn 7 of the Tenants Charge and Credit Book

(c) The control account to be credited will, of course, depend on the particular program whose income is to be recorded, as described in section 1642-3.8. Collection losses are recorded by separate journal voucher, as described in section 1642-4.6.
(d) In situations where the division does not require the recording or reporting of vacancy losses, such as in the case of commercial rentals, other non-dwelling rentals, buildings on or off the site marked by the local agency for demolition, and during the initial operating period of the project proper, it is nevertheless recommended that the charging of the tenants accounts be made from established rent schedules and a memorandum record of vacancy losses, to agree with the established rent schedule, be maintained.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1642-4.8