HUD is back at work and looking forward to getting moving on the 2018 year ends. Our initial conversations with REAC indicate a remote possibility of any extension of the deadline. However, with the threat of another shutdown in mid-February anything remains possible. If no further shutdown occurs, auditors and clients should plan on meeting the 90-day deadline.
The impacts of the shutdown continue. We have been asked by HUD to share the following information related to the surplus cash calculation:
Including Pending Reserve for Replacements Releases as Cash on the Computation of Surplus Cash
HUD's policy is to allow owners to count reserve releases that were approved prior to the end of the fiscal year as cash on the computation of surplus cash.
This year, due to the government shutdown, many of these yearend requests did not get approved in time to meet this requirement. To address this situation HUD will allow owners to count 2018 reserve release requests as cash for the fiscal year ending 12/31/18 if the following conditions were met:
- The request was received in the local field office on or before 12/31/18
- The request received subsequent approval from HUD
Any amounts disallowed by HUD cannot be included.
HUD Rental Assistance Demonstration (RAD) and
Project-Based Rental Assistance (PBRA) Training
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.