January 2026

News from Financial Asset Management

Happy New Year! If your property has a 12/31/2025 fiscal year end, and you have not yet submitted your 2026 budget, it is now overdue. Budgets are due 30 days prior to the fiscal year end. Please upload the 2026 budget to Procorem.
FY 2024 audits must be closed out. If you have not received an audited financial approval letter for fiscal year-end 2024, please check to see if you received an email identifying items that may still be outstanding. Additionally, please ensure that any payments owed (as noted in the approval letters) are made immediately.
If you have new financial staff who need training on the Procorem financial submission process, the original training video and PowerPoint presentations are available on our website.
If you have any questions about budget submissions or need additional training on uploading to Procorem, please reach out to Susan Halloran at 401-450-1339.

Important Information for NOP and ELI

For properties with NOP and ELI program funding, Financial Asset Management will begin using Procorem for the NOP and ELI subsidy request submissions.
If your property is set up in Procorem and has NOP or ELI units, we will be adding a folder to use to upload your requisitions. You will be able to submit subsidy requisitions this way instead of emailing them to the NOP mailbox.
We will be reaching out to managers individually to advise once the folder is set up. If you do not have a workcenter in Procorem, we will also be adding those, and the team will reach out to get you access once it is complete.

LIHTC Tenant Data Reporting

The final 2025 XML upload (for data from 1/1/25 to 12/31/25) is due in the Tenant Event Portal by January 31, 2026; this includes Validating and Submitting. Properties may begin to upload their 2026 Tenant Events effective immediately.

If there are no certs in January 2026, an empty file should be uploaded as verification of task completion. Mark all tasks as complete in the workcenter as these milestones are met.

ProLink Solutions Training Scheduled for January 28, 2026

RIHousing’s Procorem software vendor, ProLink Solutions, announced a training for property managers/owners/agents will take place on January 28th at 12:00 pm EST. Please note that there is a cost to attend the training.

Please send the registration link to any owners or agents you think would benefit from this training and encourage them to register so we have a head count. This training is a good refresher on using the tenant portal for submitting tenant events and will benefit those who may be seeking to fulfill CE credit requirements.

You can post the link on Procorem WorkCenters, make an announcement on Procorem, post it on your website, forward the link via email—whatever works best for you.

Information on Registration and Payment

Click here to view the registration link for more details.

View this short video to address available payment options.

Please contact the presenter, Sara Surprenant, with any questions or any additional information you’d like the training to cover:

IRS Announces New 2026 Mileage Rates

On December 29, 2025, the IRS announced that beginning Jan. 1, 2026, the standard business mileage rate for a qualifying vehicle will be 72.5 cents per mile, up 2.5 cents from 2025.
The rate will be 20.5 cents per mile driven for medical purposes, down a half cent from 2025, and will be 20.5 cents per mile driven for moving purposes for certain active-duty members of the Armed Forces and certain members of the intelligence community, which is reduced by a half cent from last year.
The changes apply to fully electric, hybrid automobiles, and gas- and diesel-powered vehicles.

Reminders:

PBCA Monthly Vouchers: Please remember that monthly vouchers (requests for Section 8 subsidy payments) are due on the 10^th of each month.
HOTMA compliance has been extended until January 2027.
On December 18, 2025, the Office of Multifamily Housing Programs published a Housing Notice extending the Housing Opportunity Through Modernization Act of 2016 (HOTMA) compliance date from January 1, 2026, to January 1, 2027, for all owners participating in HUD Multifamily project-based rental assistance programs. Full compliance with the HOTMA final rule and discretionary policies is mandatory for all certifications with a January 1, 2027, date or later. Click here to read the notice.
The correct RI Housing phone number for tenant complaints is 401-443-1616.

We'd love to hear from you!

To provide suggestions for information you would like to see in future Property Matters E-News, please email Kathy Millerick at kmillerick@rihousing.com.