In This Issue:


COVID-19 forced us to cancel our annual Public Housing Conference. With the number of current and pending changes from HUD, it has become imperative to offer the conference as an online equivalent. We are excited to announce that we have rescheduled the conference as a 3-day webinar series.

The webinar will be held June 24, June 25, & June 26. Each day will be focused on a specific set of topics. Sessions will begin at 11:00am EDT and end at 4:00 pm EDT. The course is eligible for 16 CPE Credits (approximately 5.3 credits per day).

The agenda for each day is as follows:

  • DAY 1 - Public Housing Update (Click for detailed agenda)
    • PHA Financial Management - HUD's New Focus
    • Voucher Program in the year 2020
    • Public Housing/Capital Fund in the Year 2020
  • DAY 2 - Public Housing Asset Repositioning (Click for detailed agenda)
    • What is the Future of MY PHA? Asset Repositioning
    • RAD Deal Structure and Related Accounting
    • Asset Repositioning and Program Income
    • Running a PBRA Program - How Different is it from What I Already Know?
  • DAY 3 - Accounting/Auditing Update (Click for detailed agenda)
    • Affiliates, Instrumentalities, Non-profits & Component Unit Reporting (GASB Update)
    • Yellowbook and Audit Standards Update
    • Auditing in the 2020 COVID-19 HUD Environment
    • Completing PPC Risk Assessment forms and compliance with new auditing standards

Many of these topics are a result of discussion with HUD at their most recent JAD (Joint Application Development) Session and will have direct impact on most PHAs.  Although most of the material will be relevant to PHA auditors and accounting personnel, we have made an attempt to segregate certain days to be of greater interest to non-accounting personnel. Many of these sessions will be of particular interest to executive directors or program managers.

Classes will be conducted on the Zoom platform. We have been using the platform for over a year and have had great success. This platform has a full range of tools facilitating communication between instructors and attendees.



Register for 1, 2, or all 3 days. The three days together provide up to 16 hours CPE credit (5.3 per day). Days 1 and 2 are primarily Governmental Accounting. Day 3 is primarily Governmental Auditing. Receive a $50 discount when registering for all 3 days.

Course Course Fee Member Rate
06/24 - Day 1 $149 $129
06/25 - Day 2 $149 $129
06/26 - Day 3 $149 $129
All 3 days $397 $337

Register Online
Printable Registration Form



Who should attend? Executive directors, Commissioners, PHA Management, Finance Personnel, and CPAs
Day 1 provides up to 5.3 Governmental Accounting CPE Credits
Approx. Time (Eastern time) Topic/Description
11:00 AM - 12:15 PM Session 1: PHA Financial Management - HUD's New Focus
      This session will discuss the latest in HUD's focus on financial management of PHAs. We will include information regarding financial condition notices being sent to PHA regarding issues with net position, amount other things.
12:15 PM - 12:25 PM Break
12:25 PM - 1:30 PM Session 2: Voucher Program in the year 2020
      Session will include the most up-to-date information on the voucher program. We will be covering COVID-19 funding. Further, by the time of the conference we anticipate having information of HAP funding, and 2020 reporting requirements. We will also be discussing the waivers applicable to PIH Notice 2020-05.
1:30 PM - 1:45 PM Break
1:45 PM - 2:15 PM Session 3a: Voucher Program in the year 2020 - Continued
      Continued
2:15 PM - 2:45 PM Session 3b: Public Housing/Capital Fund in the Year 2020
      COVID-19 has brought many changes to public housing for the 2020 year.  Supplemental funding has already occurred, and addition reporting requirements will soon be announced. Further, program rules around fee income, capital fund flexibility are completely revised for this year.
2:45 PM - 2:55 PM Break
2:55 PM - 4:00 PM Session 4: Public Housing/Capital Fund in the Year 2020 - Continued
      Continued


Who should attend? Executive directors, Commissioners, PHA Management, Finance Personnel, and CPAs
Day 2 provides up to 5.3 Governmental Accounting CPE Credits
Approx. Time (Eastern time) Topic/Description
11:00 AM - 12:15 PM Session 1: What is the Future of My PHA? Asset Repositioning
      This session provides an overview of strategies allowed by HUD for PHAs to convert their projects from public housing to other subsidy streams. These include RAD, voluntary conversion and Demo. The goal of this session is to discuss the various ways PHAs have implemented these conversions utilizing PBV or PBRA to more fully understand the accounting and financial reporting impact.
12:15 PM - 12:25 PM Break
12:25 PM - 1:30 PM Session 2: RAD Deal Structure and Related Accounting
      This session will focus on the challenges of HUD's focus on asset repositioning. This includes basic conversions to complicated deals that uses tax credits and other financing options. The goal of this session is to discuss strategic choices PHAs have available and the impacts of each option. Includes a discussion of potential cash flows as well as accounting and reporting challenges.
1:30 PM - 1:45 PM Break
1:45 PM - 2:50 PM Session 3: Asset repositioning and Program Income
     

This session will examine whether federal definitions of program income apply to the HUD funding sources and assets used to support the RAD conversion and if so,

* How should these funds be accounted for and reported (i.e., reported in public housing, business activities, state/local COCC, etc.) and
* What activity may the program income be used to support or if these funds must be returned to HUD. Topics to be discussed are PHA loans of CFP funds and operating reserves, land lease payments, surplus cash distribution from PBRA properties, etc.

The session will also discuss the impact of PIH Notice 2019-13 (Public Housing ACC Termination and PHA Closeout) on PHAs that no longer administers public housing because of a RAD conversion(s).

2:50 PM - 3:00 PM Break
3:00 PM - 4:05 PM Session 4: Running a PBRA Program - How Different is it From What I Already Know?
      Here we will discuss the requirements of operating a PBRA Section 8 program. The session is designed to eliminate concerns about converting from public housing to a PBRA program.  No PHA should feel they cannot operate this program. We will cover recertification, form differences and TRACs.


Who should attend? Finance Personnel, Accounting Personnel, and CPAs
Day 3 provides up to 5.3 Governmental Auditing CPE Credits
Approx. Time (Eastern time) Topic/Description
11:00 AM - 12:10 PM Session 1: Affiliates, Instrumentalities, Non-profits & Component Unit Reporting (GASB Update)
     

This session will discuss how non-PHA entities are involved in RAD conversions and the impact on PHA financial statement reporting. Discussion items will include:

* Key elements that need to be considered in determining if the separate legal entities meet the definition of a component unit (either blended or discrete). 
* How should various transactions between the PHA and component units be reported and eliminated, and possible impact to a PHA’s allocation plan/ COCC, etc. 

While this discussion will focus on RAD conversion, the same principles could be applied to historical tax credits deals (e.g., mixed finance projects).   

12:10 PM - 12:20 PM Break
12:20 PM - 1:30 PM Session 2: Yellowbook and Audit Standards Update
      2020 audits will be first to implement a significant set of new standards. These will include the new Yellowbook and revised audit standards. This session will focus on the largest of those changes. Also, we will discuss new areas of focus in Uniform Guidance.
1:30 PM - 1:45 PM Break
1:45 PM - 2:45 PM Session 3: Auditing in the 2020 COVID-19 HUD Environment
     

As a result of the COVID-19, HUD has issued guidance on the acceptability of electronic signatures and has also issued 3 new PIH Notices. These Notices include:

* Waivers of many requirements
* Supplemental HAP funding
* Supplemental Operating Fund monies

Each of these Notices will have significant impact on your next public housing audit.

2:45 PM - 2:55 PM Break
2:55 PM - 4:00 PM Session 4: Completing PPC Risk Assessment forms and compliance with new auditing standards
      During this last session we will be completing PPC forms for compliance with current AICPA peer review requirements and 2020 standards. Many practitioners discuss with us the various interpretation peer reviewers have about these forms.


We anticipate the following courses to be held in-person. If, due to circumstances surrounding COVIDÔÇÉ19, we are unable to hold a class in person, it will be switched to a webinar format. You will be notified in advance of the format change.
Multifamily Update FHA-Lender Update
  • 09/17 - Nashville, TN
  • 09/22 - Detroit, MI
  • 09/23 - Boston, MA
  • 10/01 - Minneapolis, MN
  • 10/06 - Chicago, IL
  • 10/21 - Dallas, TX
  • 10/27 - Baltimore, MD
  • 10/28 - Atlanta, GA
  • 11/04 - Indianapolis, IN
  • 11/05 - Columbus, OH
  • 11/09 - Kansas City, MO
  • 11/17 - New York, NY
  • 10/07 - Chicago, IL
  • 10/22 - Dallas, TX
  • 11/06 - Columbus, OH
  • 11/18 - New York, NY
  • 12/09 - Las Vegas, NV

Multifamily Conference
December 7th & 8th - Las Vegas

Click here to register online.
Click here for a printable registration form

HUD FASS-PH Financial Reporting Training - Region X

HUD is providing FASS-PH Financial Data Schedule (FDS) Training.  This is a two-day training that will be provided in a webinar format. The training is designed for PHA Financial Analysts, Fee Accountants, Accountants, Auditors and other individuals involved with the FASS-PH FDS submission process.

The webinar will be held on June 16 – 17, 2020 from 8:30 am to 4:30 pm Pacific time both days.

Click here for more information
Click here to register

Training is free for all participants. If you have any questions about the training, please contact Jammie Williams (email: [email protected], ph: 240-381-6063) for more information.


CPE CREDIT INFORMATION/span>

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.
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. Two-day Conferences provide up to 16 hours CPE credit. CPE Credit for Webinars varies.  Please see individual course page for details.
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 $100 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.  


AHACPA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Affordable Housing Association of Certified Public Accountants (AHACPA)
459 N. 300 W. Suite 11
Kaysville, UT 84037
(801) 547-0809