Public Housing and Affordable Housing
Customized accounting solutions for compliance with unique reporting requirements
Providing a Balanced Perspective Guided by Industry Experience
Personalized services that address the needs and expectations of public housing and affordable housing.
Public Housing and Affordable Housing play a critical role in communities. They must navigate the ongoing obligations of shifting government and HUD regulations and evolving GAAP and GASB standards, while consistently complying with laws and regulations.
BDO's Public Housing & Affordable Housing practice can help navigate the opportunities and challenges plus assist in improving subsidies to fully maximize resources that support operations and compliance with accounting and reporting. Our services also enhance internal controls to help improve analysis, reporting, and operational efficiency. We will ensure that reporting meets the highest standards and identify any issues before they become audit findings.
Working with BDO provides the benefits of experience and leadership – we have served over four hundred public housing and affordable housing providers.
Education & Training
We are a premier provider of industry-wide education to staff, executives, HUD employees, and other advisors and consultants – delivering valuable knowledge and actionable insight through timely alerts, publications, webinars, national seminars, regional training sessions, and customized on-site workshops.
RFP Inquiries
How BDO Can Help
Explore new possibilities and address challenges with strategies designed for public housing & affordable housing.
Assess Finance Operations
We assess the finance department, provide a report of observations and opinions, and implement recommendations.
Navigate Regulations
We assist with interpreting and implementing proper guidelines for compliance with GAAP, GASB, and HUD regulations.
Close Staff Gaps
We provide fee accounting services and interview and augment staff to fill gaps.
Capabilities
Our team has the resources to help agencies stay current with government and HUD requirements and the experience to assist with customized services. We provide accounting, consulting and training services to public housing and affordable housing providers throughout the country.
- Compliance with HUD, GAAP & GASB regulations
- Maximization of subsidy
- Organizational structure
- Accounting policies and procedures
- Competency of accounting staff
- Budgeting
- Month End Close and reporting
- Budgeting and year-end reporting to HUD/REAC
- Work papers for independent auditors
- Financial statements in the format that you and your board require
- Bank reconciliations
- Adjusting journal entries
- Maintenance of general ledger activity
- Financial reports, custom tailored to your needs
- Submission of the FDS and scoring of your financial and management ratios
- Preparation of a “simple” cash flow
- Preparation and submission of monthly 52681-B form (VMS) to REAC
- Monthly phone call to discuss financial reports and any areas of concern that come to our attention
- Monitoring the Two-Year Tool
- Provide audit-ready work papers
- Prepare and submit your HUD-required Financial Data Schedule (FDS) to obtain the highest possible scores for your FASS and MASS reporting
- Deliver an analysis of your operating reserves
- RNP, HHR and UNP reconciliation
- Provide a report of observations and recommendations to ensure HUD compliance, if requested
- Determine best business practices for your housing authority
- Calculation of operating subsidy
- Estimates of HCV administrative fee and HAP revenue
- Budget development
- Development of a consolidated, multi-program budget (e.g., LIPH, HCV, CFP, other grants, and program revenues)
- Trend analysis and forecasting
- Analysis of projected Operating Reserves
- Asset management strategy
- Assistance and appeals
- Organizational assessments
- Property performance enhancement
- Development of management and operational reports
- Property management staff training
- Compliance with HUD asset management requirements
- Fee for service / staff allocation assistance
- Corrective action plans for non-performing properties
- Long term asset management strategies and portfolio analysis
- Maintenance team utilization analysis
- Forecasting fee revenue to the Central Office Cost Center after a full or partial RAD conversion
- Analyzing existing debt for re-leveraging options
- General ledger accounting assistance with technical implementation
- RAD budget/pro forma preparation
- Analysis of first year through third year actual subsidy streams
- Financial Data Schedule preparation best practices
- Post-RAD staffing recommendations
- Compliance with HUD, GAAP & GASB regulations
- Maximization of subsidy
- Organizational structure
- Accounting policies and procedures
- Competency of accounting staff
- Budgeting
- Month End Close and reporting
- Budgeting and year-end reporting to HUD/REAC
- Work papers for independent auditors
- Financial statements in the format that you and your board require
- Bank reconciliations
- Adjusting journal entries
- Maintenance of general ledger activity
- Financial reports, custom tailored to your needs
- Submission of the FDS and scoring of your financial and management ratios
- Preparation of a “simple” cash flow
- Preparation and submission of monthly 52681-B form (VMS) to REAC
- Monthly phone call to discuss financial reports and any areas of concern that come to our attention
- Monitoring the Two-Year Tool
- Provide audit-ready work papers
- Prepare and submit your HUD-required Financial Data Schedule (FDS) to obtain the highest possible scores for your FASS and MASS reporting
- Deliver an analysis of your operating reserves
- RNP, HHR and UNP reconciliation
- Provide a report of observations and recommendations to ensure HUD compliance, if requested
- Determine best business practices for your housing authority
- Calculation of operating subsidy
- Estimates of HCV administrative fee and HAP revenue
- Budget development
- Development of a consolidated, multi-program budget (e.g., LIPH, HCV, CFP, other grants, and program revenues)
- Trend analysis and forecasting
- Analysis of projected Operating Reserves
- Asset management strategy
- Assistance and appeals
- Organizational assessments
- Property performance enhancement
- Development of management and operational reports
- Property management staff training
- Compliance with HUD asset management requirements
- Fee for service / staff allocation assistance
- Corrective action plans for non-performing properties
- Long term asset management strategies and portfolio analysis
- Maintenance team utilization analysis
- Forecasting fee revenue to the Central Office Cost Center after a full or partial RAD conversion
- Analyzing existing debt for re-leveraging options
- General ledger accounting assistance with technical implementation
- RAD budget/pro forma preparation
- Analysis of first year through third year actual subsidy streams
- Financial Data Schedule preparation best practices
- Post-RAD staffing recommendations
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Meet our Public Housing and Affordable Housing Leader
The people you count on.
At BDO, our purpose is to be the people you count on to grow with confidence and achieve what matters most. That commitment starts with our clients and extends to our people, future professionals, and the communities where we live and work. Guided by our values and a culture of collaboration, we bring together deep industry experience, talented team members, and a shared focus on client success to help organizations move forward with confidence.