- Non-profit and 1975 HAP
Hello. We have a new non-profit multi-family client. They are in the process of refinancing their HUD mortgage. They currently…
- Extension?
Les - Any feeling yet on what HUD plans to do if the Compliance supplement isn't issued soon? AICPA informed…
- FAC Non-Filing
We just took over a number of Single Audits that have apparently never been filed with the FAC. I realize…
- Section 232 Leased Nursing Home – Required Monthly Rent Amount
We audit the lessor that has an operating lease for a nursing home with a related entity and has a…
- Fee being charge to the project by management co.
Hello: We are auditing a Section 202 project and noticed some new costs being billed to the project by the…
- REAC Submission – Non Major Programs
Good evening, We need some help regarding how to make a federal program show as non-major on the SEFA in…
- Multifamily property R4R and insurance proceeds question
I have a multifamily property that had a flood in their basement which caused damage to the 2000 amp main…
- PTE tax and cash flow
Hi Les, Our firm cannot come to an agreement on how the PTE tax should be treated in the cash…
- PTET
Entity elected into PTET on 2023 taxes so made PTET payments in 2024 - per GAAP, these tax payments should…
- Corrective Action Plan
During the 2023 audit, our audit uncovered a finding where a HUD project distributed excess surplus cash. We informed the…
- Replacement Reserve withdrawals
I was wondering if you all had any best practices related to instances where a replacement reserve withdrawal had been…
- Non Profit HUD Engagement Letter
Hi Kathy, We have non-profit clients that require HUD audits that are under the single audit threshold. Is there a…
