Per 24 CFR 982.151, an annual contributions contract (ACC) is a written contract between HUD and a PHA. Under the ACC, HUD agrees to make payments to the PHA, over a specified term, for housing assistance payments to owners and for the PHA administrative fee. The ACC specifies the maximum payment over the ACC term. The PHA agrees to administer the program in accordance with HUD regulations and requirements.

The ACC is the mechanism through which the PHA receives funding, defines the agency's obligations, and outlines remedies for default. Should there be a default, HUD will pursue remedial actions. Obligations under the ACC include but are not limited to:

• Cooperation agreements

• Operating budgets

• Depository Agreements and General Fund

• Pooling of funds

• Books of account, records, and government access

• Notices, defaults, and remedies

• Conflict of interest

• Insurance requirements

Consolidated Annual Contributions Contract (1969)