- Combined HUD Audit
I am performing an audit of two entities combined as one due to it being a Master Tenant agreement. One…
- Employee Loan
I have a situation where this apartment project loaned the apartment manager employee $3,000 (which is immaterial) and set up…
- Question on GAAP – Mortgage Financing Costs
ASB put out FASB 2015-03 for debt issuance costs that are to be netted against the note payable on the…
- Receipt and disbursement testing
A CPA firm performs audits of 9 HUD housing projects. All 9 projects are managed by the same management company…
- Section 8 Only Regulatory Agreement
We're working with a new developer, and they recently closed a deal with a section 8 contract and a commercial…
- Physical Inspections
If a property gets a physical inspection score below 60, are they required to have a finding?
- Status of Prior Audit Findings
I have a client that had two HUD Projects that had a finding for a distribution in excess of mid-year…
- Tenant Security Deposits – Cash
On one I’m working on now, they have been approved by HUD to withdraw monies for “replacement”, but will do it…
- Debt Service Coverage Ratio
I have a 232 nursing home HUD project and the operator (nursing facility) is required to keep DSCR at 1.0.…
- Management Fees
Quick question for you regarding management fees and what the fees include. We have a client who is being reviewed…
- Ability to Continue as a Going Concern
I was in attendance at the Las Vegas Multifamily Conference last week and the topic referenced above was discussed. My question…
- Management fees Nursing homes with HUD insured mortgages
1. Can a project owner that is not the operator take management fees and/ or pay employees reasonable compensation for…