- Residual Receipts Recapture
We are auditing a Section 811 properties with a PRAC. Management has no knowledge of the residual receipts recapture and…
- Letter of Intent to Sell
Our client has a non-binding letter of intent to sell. Our client does not expect that the purchase agreement will…
- Pass through compliance costs
A non-profit entity was recently told after their annual financial statement review by HUD that they were not allowed to…
- Owner’s Certification
What is the general rule for how many owners/members must sign the Owner's Certification? For example, we have projects operating…
- Surplus Cash Distributions
I have a client whose preliminary 12/31/16 surplus cash calculation showed surplus cash but he did not take a distribution…
- Debt issuance costs
I have debt issuance costs with the capital advance program. The capital advance has been recorded in the equity section…
- Tenant testing for a COOP
Should we consider tenant testing for a non profit coop?
- Surplus Cash for Refi’d property that consolidated phases
I have a HUD client that has a property with two phases, treated as two stand alone projects with their…
- Other Intangible Assets
Now that deferred financing fees are reported net of the note payable, where should other intangible assets be reported? We…
- Administrative Fees
Should administrative fees be included in account S1000-030 (Replacement reserve releases which are included as expense items on this profit…
- Account 1121 Construction Cash Account
what happens to account 1121 Construction Cash after the construction is completed? Can they put the cash into account 1120…
- Allowable Legal Fees
Can you point me to any guidance on what HUD considers allowable legal expenses at the project level? We have…
