- Partnership/Entity Cash
I have two properties that hold a partnership cash account on the balance sheet of the project under HUD account…
- Security Deposit and Cash Receipt Testing
I have a general question regarding Tenant Security Deposit and Cash Receipt testing. The audit guide procedures (chapter 3) suggest…
- Reporting Fraud
A multifamily property with a HUD loan encountered money order fraud. What are the reporting requirements? Is this considered non…
- Forfeited Deposits
A HUD multifamily property was under contract for sale. The sale fell through and the property received $400,000 in forfeited…
- Subsequent Sale of a Property
We are currently engaged to audit a multi-family property with a fiscal year ending December 31, 2017. The property was…
- Cash on balance sheet not directly related to HUD Project
On the audit that we performed for Adagio at Westshore Palms, HUD had an issue with cash that was shown…
- Entity Expenses and Surplus Cash
Hi we have a client that owns an apartment building. They refinanced a conventional mortgage with a HUD mortgage, under…
- Debt Issuance Costs ASU 2015-03
A question has come up related to ASU 2015-03 about presenting debt issuance costs in the HUD supplementary schedule balance…
- Cost Certifications
We have been in contact with a mortgagor that is requesting that we perform a cost certification audit. We have…
- HUD Audit Procedures
We are completing an audit of a for-profit HUD project with a mortgage insured by HUD under 223(f) loan. They…
- Sale of a NFP Project
Hi Les, I have a NFP client with a 6/30 fiscal year-end that is a NFP project w/ 223(f) funding.…
- HUD New Financing
I had lunch with a lender friend and she inquired about a client which closed their HUD financing in December 2017…
