| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
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| #13151 | Closed | public | Multifamily | _General Support |
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Should account #S1000-030 and S1320WT equal if the funds withdrawn are expensed during the year? I assume they would not agree if funds withdrawn are used for capital expenditure and/or funds were received in early part of year from a request of funds spent in December (funds requested were actually expensed in Dec, request not made until Jan/Feb). Thank you! |
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Kevin, funds withdrawn will match that number if all of them were used for expenses. In reality they never match. You are correct in noting that if the funds are used for capital they can’t match. I am not sure that even 25% of the projects ever list an amount in S1000-030. I know more have it than record it. I am pretty sure there is no HUD monitoring.
Les Sparks AHACPA (801) 547-0809
From: AHACPA Support <support@ahacpa.org> |
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I will be out of the office until June 8th. I will be playing with my granddaughters, whom I haven’t seen since October. I will check email once a day. Other members of our multifamily submission team are also unavailable. Keep in mind that the new deadline for multifamily submissions is not until June 30th. Unless your submission is an emergency, we will plan on catching up on June 8th. EXTENSION Info: On 4/29/2020 HUD posted the following notice in FASSUB; “Global Extension til June 30th: REAC is extending due dates on all submissions that are due April 30th and May 31st. The new due dates for these submissions will be June 30th. This applies to all [Multifamily] submissions due within this time frame.” |