Which HUD Recovery Act Program is Spending Out the Quickest? It's Project Based Rental Assistance.

HUD's latest Recovery Act spending report was issued today.

May 1st report shows that HUD had obligated a total of $4,623,132,553 in Recovery Act funding and has had an outlay (spent) of $235,460,064 or 5.1% of the obligations made to date.

The program with the highest ratio of outlays to obligations so far?
It's HUD Project Based Rental Assistance

• 14.4% of the Project Based Rental Assistance obligations have resulted in outlays (Outlay of $213,728,193 vs. obligation of $1,480,398,826) .
• Project Based Rental Assistance represented 91% of ALL HUD Recovery Act outlays made by HUD to date.
  

The table I prepared HERE shows the breakout by program account; HUD's Excel report I used for a data source is HERE.

[IG actually had the highest ratio, but amount was less than $100,000 and therefore not considered relevant in context of multi-billion spending].