Account S1200-610 Validation ERROR
Last week we notified you that REAC's Multifamily system had a programming problem that was causing validation errors for Account S1200-610. The programming error for account S1200-610 has been resolved.
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Rural Development Unnumbered Letter re: Financial Reporting Requirements for FY 2018 |
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Rural Development has issued an Unnumbered Letter dated February 7, 2019. The unnumbered letter is issued to provide guidance for borrowers electing to submit their Fiscal Year 2018 annual financial reports according to the requirements published in the Federal Register on November 24, 2017. The new rule was in effective for borrowers with fiscal year beginning January 1, 2018 and thereafter. The reporting change will continue to be OPTIONAL for Fiscal Year 2018 reporting and will be MANDATORY for Fiscal Year 2019. For profit and limited profit borrowers must state the method of reporting the year end actuals. There are two options for reporting for FY 18. Option 1 will be based on the type of property and number of units. Option 2 is based on the borrower ID and amount of federal financial assistance received by the borrower. Through this rule change, the Agency has removed the requirement for an engagement that examines records using Agreed Upon Procedures (AUP) established by the Agency as part of the annual financial reporting requirements outlined in 7 CFR Part 3560.308. The Agency will allow borrowers to not submit AUPs for the Fiscal Year 2018 reporting cycle by submitting a statement similar to the following with the yearend reports. The Unnumbered Letter includes sample auditor reports and audited financial statements. |
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HUD Rental Assistance Demonstration (RAD) and
Project-Based Rental Assistance (PBRA) Training
Only 3 remaining seats - Register now!
March 5th & 6th, 2019
8:30 am - 4:30 pm each day
AMA Atlanta Executive Conference Center
1170 Peachtree Street NE, 3rd Floor
Atlanta, GA
16 CPE Credit Hours
Course Fee: $600 ($550 for AHACPA Members)
Click here to register online.
Click here for a printable registration form
(use this when registering more than one person at the same time)
Speakers:
Les Sparks, President, AHACPA
Chad Porter, Audit Partner, Smith Marion & Co, LLP
ADDITIONAL INFORMATION:
- The training is NOT being held at a hotel, so there is not a room block. The conference price includes a continental breakfast, lunch, snacks, and drinks.
- The location has over 10 hotels within reasonable walking distance of the training center. A list of nearby hotels can be found here.
- Space is limited to 50 attendees and is filling up quickly.
Topics will Include:
- Contents and Requirements of RAD PBRA Contract
- Review of the PBRA contract and the most important provisions compared to Public Housing
- Reserve for replacement rules and regulations
- Calculation and usages of surplus cash/distributions
- Management Agent and Management Agreements
- Completion of Forms 9839 and 9832 and what they mean
- Various types of management fees allowed
- Paying for centrally-provided frontline services
- General compliance with the Management Agent Handbook (4381.5)
- Compliance with Financial Statement Reporting Requirements of the REAC FASSUB Multifamily System
- Differences between Multifamily and PHA systems
- Content of REAC-required FASB-based financial statements and differences between the PHA GASB-GAAP financial statements
- REAC administration and submission process
- REAC multifamily reviews compared to PHA reviews
- Scoring methodologies for multifamily programs
- HUD Oversight of the Administration of PBRA Program Through Management and Occupancy Reviews (MORs)
- Dealing with Annual Audit Requirements and the HUD Audit Guide
- General Overview of the Occupancy Guide (Handbook 4350.3) – Requirements for Administering the Subsidy Program
20th Annual Public Housing Authority (PHA) Conference
June 17th & 18th, 2019
June 17th: 8:00 am - 5:00 pm
June 18th: 8:00 am - 3:10 pm
Course Fee: $650 ($600 for AHACPA Members)
Register before May 27th for a $50 early-registration discount
The Cosmopolitan of Las Vegas
3708 Las Vegas Blvd South Las Vegas, NV 89109
Click here to register online.
Click here for a printable registration form (use this when registering more than one person at the same time)
Save the Date - More information to be announced
21st Annual Multifamily Conference
December 10th & 11th, 2019
The Cosmopolitan Las Vegas
FHA Lender Update - Las Vegas
December 9th, 2019
The Cosmopolitan Las Vegas
One-day Update Courses and Webinars to be announced
Courses will be posted on AHACPA's Training Calendar
CPE Credit Information
Objective: To learn HUD accounting, auditing, and electronic submission requirements and how to efficiently implement those requirements.
Prerequisites / Advanced Preparation: General HUD accounting or audit experience. You do not need to print any course materials prior to your arrival. All materials will be provided for you.
Instructional Method: Group-Live with interactive discussion and Group Internet Based
Length / CPE Credits: One-day Update Courses provide up to 8 hours CPE credit (4 hours governmental accounting and 4 hours governmental auditing). Two-day Conferences provide up to 16 hours CPE credit (8 hours governmental accounting and 8 hours governmental auditing).
Cancellation Policy: All cancellation requests must be received in writing (email or fax is fine). Registration fees are fully refundable provided the request is received at least three weeks prior to the course. Requests received after this date, but one week before the course will receive a refund less an administration fee of $50 for Update Courses and $75 for Conferences. Due to financial obligations incurred by AHACPA, no refunds will be issued for cancellation requests received less than a week before the course.
Substitutions: If you are unable to attend a course you may substitute another individual or change locations without penalty. The location change must be within the same calendar year. For proper CPE credit and record keeping, you must notify us in advance of any substitution or change in location.
Contact Information: For more information regarding refund, complaint, and/or program cancellation policies, please contact our office at 801-547-0809.