- Booking Residual Receipts Liability
If a NFP client wants to book the amount over $250 would you take the amount in the residual receipt…
- Payments Made When No Available Surplus Cash
We have a HUD Statement of Condition finding for a payment of the monitoring fee and the reporting fee made…
- Compliance Testing – Cash Disbursement Finding
On our compliance testing (on property A) we had an invoice that was paid to a another entity (related party,…
- Limited Dividend Projects
-I have a limited dividend project, say for ease $400,000. -There was distributions accrued and unpaid for prior year of…
- Entity Cash
I have a question about the calculation of entity cash. I will use basic numbers as examples. Operating and Entity…
- M2M Limited Dividend Project
Les - our client has multiple properties that went through the MU2M process and has LD's. Then when the requirement…
- Section 223(f) Refinance
I am performing an audit for a new client that underwent a refinance during 2016 under section 223(f). Proceeds from…
- ASU 2015-03 effect on REAC
I was wanting to get your feedback on this new accounting change and how HUD REAC is addressing this new…
- Accounting for Unallowed Distributions
I have a client (multifamily) who took unallowed distributions during the year. For financial statement purposes, do I report those…
- Physical Inspections
I have a client with multiple multifamily properties that are past due on their inspections. Typically, HUD/REAC will reach out…
- Payment of financing costs by the project
In planning for current year audits, the management agent informed us that they received notices from HUD REAC related to…
- Multifamily project (Section 8 and HUD Insured Mortgage) Surplus Cash Question
Please forgive me it this is a "self-answering" question, but regarding the changes to the computation of surplus cash -…