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INTERMEDIATE HUD ACCOUNTING, BUDGETING & REPORTING

November 12, 2020
11:30 AM to 4:00 PM EST

Grace Fuentes
Email
  • Summary
  • Track 1 HCV
  • Track 2 Low Income Public Housing and Capital Fund
  • Pricing
  • CPE Information
  • Presenters
  • Cancellation Policy
This two-track session will feature a live web-based two day webinar (three hours each day) on the Housing Choice Voucher Program followed by the Low Income Public Housing Program and the Capital Fund Grant program a three day (four hours each day). Each course will be discussing advanced and intermediate accounting and reporting requirements. Both sessions have been updated for COVID-19 accounting and reporting requirements.

Attendees can elect to attend either the two tracks as a package or as invidual sessions.  We invite you to explore these two tracks with us!

November 12 - 13, 2020 - Track 1: Housing Choice Voucher 
November 18 - 20, 2020 - Track 2: Low Income Public Housing & Capital Fund
November 12 - 13, 2020 
Track 1: Housing Choice Voucher 
11:30AM - 2:30PM EST

 

HCV OBJECTIVES

•  Review the HCV budget process
•  Analyze the relevant COVID-19 updates pertaining to the HCV program
•  Explain the four primary sources of HAP funding 
•  Describe HUD’s methodology for cash management as it relates to the VMS and RNP
•  Calculate the revenues and expense for the RNP and UNP calculation
•  Evaluate the impact the OPEB and pension will have on the UNP calculation 
•  Describe the differences in RNP reporting for the FDS and VMS
•  Determine when the PHA enters shortfall from the Two Year Tool
•  Analyze HAP and leasing utilization monthly and the impact on year-end reserves
•  Evaluate the impact of using the Two Year Tool to maximize leasing on your HCV program
•  Examine beginning equity on the FDS to ensure a successful submission
•  Calculate the roll-forward of UNP and RNP on the FDS
•  Report the correct UNP on the FDS for Pre-2004 and Post-2003  
 

Module 1:  Brief Overview of Section 8 Accounting & Reporting

•  Cash Management
•  Calculation of HUD-held reserves and restricted net position 
•  Flow of funds for HAP, UAP, FSS escrow and administrative fees
 

Module 2: Budgeting 

•  Calculation of annual benchmarking and non-renewal funding
•  Eligible and ineligible sources of HAP funding
•  Set-aside funds including COVID-19
•  Calculation of annual administrative fees and unrestricted net position (admin fee reserve)
•  Determining administrative expenses based on estimated administrative revenues
•  Impacts on unrestricted net position due to OPEP and Pension
•  Cost allocation
 

Module 3: VMS & Two Year Tool Reporting

•  Common errors when reporting VMS
•  VMS updates
•  Case studies for VMS
•  Project Based Voucher and RAD reporting
•  Accrual vs. cash reporting
•  UNP deficit reporting
•  Monitoring HAP Funding
•  Determining Shortfall
•  Projecting RNP and HHR at year-end
 

Module 4: Intermediate and Advanced Techniques for the FDS

•  Important relationships for VMS and FDS reporting
•  Admin fee reconciliation roll-forward 
•  HAP reconciliation roll-forward
•  COVID-19 updates
•  Responding to edit flags
•  RNP and UNP deficit reporting

*Agenda Subject to Change 
November 18 - 20, 2020
Track 2: Low Income Public Housing & Capital Fund
11:30AM - 1:30PM EST
2:00PM - 4:00PM EST

 

LIPH OBJECTIVES

•  Discuss the step-by-step calculation of operating subsidy
•  Identify and describe three utility subsidy incentives
•  Review the public housing and COCC budget process
•  Analyze the relevant COVID-19 updates pertaining to the LIPH and COCC program
•  Cite at least 8 techniques to maximize PHAS scores
•  Examine various Budget Line Items (BLIs) of the CFP to maximize funding for budget purposes
•  Examine beginning equity on the FDS to ensure a successful submission
•  Review various reporting for asset repositioning activities such as component units and business activities
•  Illustrate complex accounting transactions for leases, pension, OPEB, fixed assets
•  Discuss relevant LIPH related HUD, GAAP and GASB updates
 

Module 1: Budget Essentials

•  Budgeting for typical LIPH & COCC income and expenses 
•  Excess Cash implications with project based budgeting
•  Program (federal) income vs. non-program income
•  Cost Allocation details 
       o  Appendix V & VII; 2 CFR 200
•  Funding AMP deficits and uses of operating reserves
 

Module 2: Advanced Accounting Transactions

•  OPEB accounting & reporting
•  Pension accounting & reporting
•  Lease accounting & report
•  Fixed asset accounting (exchanges and replacements)
•  Mixed finance/asset repositioning transactions
 

Module 3: Maximizing PHAS Scores

•  Overview of PHAS indicators & sub-indicators
•  Examine the ratios and scoring calculations
•  Tips to maximize FASS, MASS and CFP indicator scores
•  Creating a PHAS appeal
•  Brief overview of SEPHAS (possible future of PHAS)
 

Module 4: FDS Updates

•  Equity roll forward implications
       o  Unaudited 
       o  Audited
•  Applying for extensions and waivers
•  Asset repositioning/mixed finance reporting
•  CFP reporting
•  Component Units & Business Activities
 

Module 5: The Operating Fund Calculation & Advanced Techniques

•  Subsidy for new unit month
•  Asset Repositioning Fee
•  EPC Add-on
•  Resident Utility Incentive
•  Frozen Rolling Base
•  Formula Income
•  Waived PILOT

*Agenda Subject to Change
Track 1: November 12 - 13, 2020: $475 Registration fee per person
Track 2: November 18 - 20, 2020: $650 Registration fee per person
Tracks 1+2: $1,000 (Save $125) Registration fee per person  

Brian D. Alten, CPA, Partner

Prior to combining with BDO and establishing BDO PHA Finance, Brian was a Director at Asher and Company. Before joining Asher in 2005 and developing the public housing accounting practice, Brian was a partner with PHA Finance, Inc. and co-creator of “The PHA Finance Solution.” Brian brings over 25 years of experience in areas of accounting and financial consulting for Public Housing Authorities (PHAs) across the nation.
 

Nick Auriemma, CPA, CFE, Managing Director

In his more than fifteen years of experience, Nick Auriemma has managed engagements for governmental, non-profit and for-profit audits, encompassing financial reporting, internal control over financial reporting, compliance with federal awards, and internal control over compliance with federal awards. Prior to joining BDO, Nick was the principal manager in an audit firm focusing in on public housing authorities (PHAs) and affordable housing entities.
 

Jason Casterline, CPA, Managing Director

Jason has over 30 years of experience assisting housing authorities on financial management issues and has personally advised over 150 housing authorities, including eight of the ten largest PHAs, on financial management issues. He has delivered accounting services, conducted audits, assessed PHA operations, developed policies and procedures, and provided a variety of other technical assistance to the subsidized housing industry. 
 

Jake Bastoni, CPA, Manager

Jake is a Manager with BDO PHA Finance and utilizes his background in affordable housing and accounting to help the BDO PHA Finance team provide accounting and management consulting services for Public Housing Authorities nationwide.
 

Dwayne Tucker, CPA, Senior Manager 

Dwayne has extensive experience in providing Accounting, Audit, Training, and Consulting Services to a variety of PHAs. He has also been involved in Asset Management and Project Based conversions for large stop loss Housing Authorities, and was engaged in fiscal year end closings and assisting PHAs that have lost their Finance Director. Additionally, he has been involved with PHA outsourcing assignments and served as the Assistant Finance Director on an outsource basis for a large New Jersey PHA.
All cancellations are now subject to a 4.5% PayPal cancellation fee. This transaction fee is charged by PayPal per registration. Seminar registrants may cancel at any time less a $49.50 processing fee; Cancelled registrations prior to a webinar, can also be applied (in full) to any future event. Event cancellations should be submitted in writing via email, and include the attendee name, company, title of the event, and indicate whether or not payment has been submitted. All cancellations may be sent via email to Grace Fuentes at gfuentes@bdo.com. Substitutions are welcome and may be made at any time, but please also email us the attendee swap information.

Participation Requirements for CPE Programs

To  receive CPE credit for participation in a BDO webinar program, you must respond to the occasional polls that appear throughout the program. You will receive an email notification following the program if you completed the necessary polls and qualified for CPE credit. This email will include instructions on how to access your CPE certificate.

BDO USA, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
 
Delivery: Internet Based
Prerequisites: None
Advanced Prep: None
Credits: Estimated up to 6 total CPE credits for attendance both days of Track 1 (three hours each day) and up to an additional 12 CPE credits for Track 2 (four hours each day)
Program Level: Basic
BDO USA, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org