We at AHACPA are frequently asked if supplemental information must be included in the hard copy financial statements. The list of items which make up a properly formatted set of financial statements comes from several different sources. The quick list of items required are:

• Independent Auditor’s Report & Independent Auditor’s Report on the Supplemental Information
• Balance sheet
• Statement of profit and loss
• Statement of changes in partner’s capital
• Statement of cash flows
• Footnotes to the basic financial statements, including descriptions of accounting policies.
• Supplemental Information:
  • Balance Sheet Data
  • Profit & Loss Data
  • Equity Data
  • Cash Flow Data
  • Notes
  • Auditor’s Reports (not needed for owner-certified submissions)
  • Findings & Prior Audits
  • Reserve Accounts Data
  • Surplus Cash & Fixed Asset Data
  • Nursing Home / Assisted Living Data
  • Federal Awards (Non-Profit only)
  • Certification
• Other required auditor’s reports depending on entity type (profit motivated or non-profit)

Continue reading if you would like more detailed information on the source of the above listed items.

1 – Guidance from HUD Audit Guide Chapter 2

• Independent Auditor’s Report
• Independent Auditor’s Report on the Supplemental Information
  • Supplemental information includes REAC Financial Data Templates [aka FASS Templates]
• Balance sheet.
• Statement of profit and loss.
• Statement of changes in partner’s capital.
• Statement of cash flows.
• Footnotes to the basic financial statements, including descriptions of accounting policies.
• Must adhere to UFRS

2 – Guidance from Guidelines on Reporting and Attestation Requirements of Uniform Financial Reporting Standards (UFRS)

• FASS Templates +
  • The financial data templates must be produced in hard copy and reported on as information supplementary to the financial statements, before they are submitted (emphasis added)
  • The financial data templates are defined in the appendices of the Industry User Guide

3 – List of FASS Templates from the Appendices of the Industry User Guide. These FASS Templates include the HUD Chart of Account numbers.

• Balance Sheet Data
• Profit & Loss Data
• Equity Data
• Cash Flow Data
• Notes
• Auditor’s Reports (not needed for owner-certified submissions)
• Findings & Prior Audits
• Reserve Accounts Data
• Surplus Cash & Fixed Asset Data
• Nursing Home / Assisted Living Data
• Federal Awards (Non-Profit only)
• Certification

4 – As further confirmation that supplemental information is necessary in the hard copy financial statements, see the Agreed-Upon Procedures as listed in REAC.