- Grant Proceeds and Surplus Cash
We have a non-profit client that is in the process of receiving several grant proceeds. As of year end, they…
- Timing of Distributions related to Timing of Surplus Cash Calc
Hi Les, I have a client with a 06/18 Regulatory Agreement. They prefer to take their distribution in Q3 of…
- DEC letter not addressed in most recent audit
Les, We were just notified that DEC provided a closure letter, dated March 28, 2023. Issue was excess surplus cash…
- Reporting Requirements Non-profit REAC
Good afternoon, We have a new audit that is a non-profit entity with a section 8 HAP contract and no…
- 2022 Profit-Motivated financial statements sample
Hello Les, As a result of ASC 842, is there an updated profit-motivated financial statements sample? If so, where could…
- Mid-Year & End-Year Surplus Cash
I have a project who took a Mid-Year distribution totaling ~$100k, however, when we recalculated their surplus cash at 6/30…
- Mid-Year Surplus Cash Distribution Taken during Initial HUD Year
Good morning! I have a property who did not have a HUD insured loan until March 30, 2022. They refinanced…
- FASB ASC 842
Hello, Do you you have any guidance on how the new lease standard FASB ASC 842 will impact and affect…
- ptet payment
Hello - I have a for-profit HUD that made a PTET election in 2022. For GAAP purposes this should be…
- Incorrect calc for year end surplus cash and surplus cash restricted for M2M payment
I have a HUD client who used a draft calculation in error for year end surplus cash and surplus cash…
- MRN Payoff
Les, Our client paid off its MRN in 2022 and the balance of 2021 surplus cash was applied to accrued…
- Presenting Impairment on Real Estate in REAC
Good afternoon - I have a Client with multiple Multi-family facilities. On a portion of those properties, they have recognized…
Multifamily Questions
