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6 <br /> 1.4 ANNUAL CONTRIBUTION. <br /> A. Payment._ HUD shall pay the PHA annual contributions for the <br /> Program in accordance with HUD regulations and requirements. <br /> B. Amount and Purpose of HUD Payments. <br /> 1. The annual contribution for the Program shall be the <br /> amount approved by HUD for each Fiscal Year to cover: <br /> a. The amount of housing assistance payments by the <br /> PHA. <br /> b. The amount of PHA fees for Program administration. <br /> 2. The amount of the HUD annual contribution may be <br /> reduced, as determined by HUD, by the amount of Program <br /> Receipts (such as interest income) other than the HUD <br /> annual contribution. <br /> C. Maximum Payments for Program. <br /> 1. Annual Limit on Payments for Program. <br /> a. Except for payments from the CACC reserve <br /> account as provided in section 1.4.E of this CACC, <br /> the HUD annual contribution for the program <br /> under section 1.4.B during the Fiscal Year shall <br /> not be more than the Maximum Annual Contribution <br /> Commitment for the Program. <br /> b. The Maximum Annual Contribution Commitment <br /> for the Program for each PHA Fiscal Year shall be <br /> equal to the sum of the contract authority amounts <br /> reserved by HUD for the projects in the Program. <br /> The amount of contract authority reserved for each <br /> project in the Program is stated in Exhibits 1 and <br /> 11 of this CACC Part 1 (subject to reduction in <br /> accordance with section 1.4.D and section 2.3 of <br /> this CACC). If the first Fiscal Year for the <br /> Program is more than 12 months, the Maximum Annual <br /> Contribution Commitment for the Program for the <br /> first Fiscal Tear may be adjusted in an amount as <br /> determined by HUD by the addition of the pro rata <br /> amount applicable to the period in excess of 12 <br /> months. <br /> ACC Part is Page 4 of 6 pages <br /> HUD 52520 B (August 1988) <br />