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Nuts & Bolts HUD Accounting, Budgeting & Reporting

October 13, 2020
11:00 AM to 4:00 PM EST

Grace Fuentes
  • Summary
  • Track 1 LIPH
  • Track 2 HCV
  • CPE Information
  • Presenters
This two-track session will feature a live web-based  three day (four hours each day) course on the Low Income Public Housing Program and the Capital Fund Grant program followed by a three day (four hours each day) course discussing the Housing Choice Voucher Program’s basic accounting and reporting requirements and featuring a half day dedicated to RAD and other asset repositioning options.


  • Track 1 (October 13 - 15, 2020): $650 Registration fee per person
  • Track 2 (October 20 - 22, 2020): $650 Registration fee per person
  • Tracks 1 + 2: $1,100 (Save $200) Registration fee per person

October 13-15, 2020

Track 1: LIPH
11:00AM - 1:00PM EST
2:00PM - 4:00PM EST


  • Discuss the HUD chart of accounts for Public Housing, Capital Funds, other related grants and over two dozen common related transactions
  • Examine 10 basic components of the Operating Fund calculation
  • Discuss LIPH cash management
  • COVID-19 Updates 
  • Review the four indicators and related sub-indicators of PHAS the anticipate SEPHAS
  • Discuss the eligible and in-eligible costs of the Capital Fund program
  • Assess how to report Capital Fund activity annually on the Financial Data Schedule (based on the Final Rule) and differentiate between “hard” and “soft” costs
  • Review EPIC and the creation of a sucessful FDS submission 
  • Analyze the creation of a successful FDS submission
  • Discuss relevant LIPH related HUD, GAAP and GASB updates

LIPH AGENDA Day 1 - October 13, 2020

Module 1: Introduction to Public Housing Accounting 
  • Common acronyms and definitions
  • Calendar of due dates
  • Overview of LIPH accounting transactions
  • Eligible uses of operating reserves
  • Measuring reserve levels
  • Cost Allocation
  • Project based accounting and the COCC
  • Fee-for-service 
  • Eligible costs  

Module 2: Introduction to the Public Housing Chart of Accounts
  • Setting up the LIPH chart of accounts
  • Preparing LIPH related journal entries, registers and schedules
  • Reconciliation & reporting of accounts:     
    • Cash / Investments
    • Accounts Receivable
    • HUD / Government
    • Receivables
    • Deferred Charges
    • Fixed Assets Depreciation
    • Accounts Payables
    • Notes / Mortgages Receivables
    • Payroll liabilities
    • Accrued liabilities
    • Compensated absences
    • PILOT
    • Notes / Mortgages payable
    • OPEB
    • Pension liabilities
    • FSS liabilities
    • Lease Liabilities and Assets
    • All equity (reserves) accounts
    • Revenues 
    • Expenses  

LIPH Agenda Day 2 - October 14, 2020

Module 3: Introduction to the FDS (Public Housing & Related Programs)
  • Background of FDS
  • Submission due dates
  • Creating a FDS
  • Mapping general ledger accounts to the FDS
  • Differences between the un-audited FDS and audited FDS
  • Various options and categories of FDS submissions

Module 4: Introduction to PHAS
  • An overview of the PHAS Indicators and sub-indicators
    • PASS
    • FASS
    • MASS
    • CFP indicator
  • How to calculate indicator and sub-indicators scores
  • How to calculate composite scores
  • What is SEPHAS?

LIPH Agenda Day 3 -  October 15, 2020

Module 5: Introduction to the Capital Fund (CFP) Grant
  • Background of the CFP grant
  • Capital Fund specific transactions for each Budget Line Item (BLI)
  • Eligible costs and ineligible costs
  • Comparing CFP fund revenue to expenses incurred by the Authority
  • Tracking obligations and expenditures deadlines
  • The “Treasury Rule”
  • The EPIC reporting systems

Module 6: Introduction to the Operating Fund Calculation
  • Background of the Operating Fund Calculation
  • Summary of occupancy categories for funding eligibility
  • Reporting and funding periods
  • Elements of the formula expense level
    • PEL
    • UEL
    • Add-ons
    • Transition funding
  • Elements of formula income
  • Proration
  • eLOCCS drawdowns of subsidy
  • Operating Fund Portal and LIPH Cash Management

*Agenda Subject to Change 

October 20-22, 2020

Track 2: HCV
11:00AM - 1:00PM EST
2:00PM - 4:00PM EST



  • Identify federal and potential non-federal sources of revenue in a RAD conversion
  • Recognize possible uses of post conversion funds
  • Examine a timeline for funds converting from LIPH/CFP to PBRA/PBV
  • Identify accounting issues at RAD conversion
  • Determine RAD eligible costs
  • Report RAD conversions on your FDS
  • Implement the course’s monthly & annual accounting procedures to properly account and report for the HCV program per the latest HUD, GAAP and GASB regulations
  • Analyze a simple methodology to account for and report HCV administrative fees
  • Discuss the anticipated SEPHAS for Section 8
  • Examine tips for accurate preparation and submission of the VMS and Section 8 program FDS
  • Identify at least five areas where the RNP is calculated differently on the FDS vs. VMS
  • Discuss relevant HCV program related HUD, GAAP and GASB updates
  • Review the proper methods monitor HAP funds, HUD-held reserves, Restricted Net Position and leasing
  • Discuss HUD's Two Year Tool 

RAD and HCV Agenda Day 1 -  October 20, 2020

Module 1: RAD & Other Asset Repositioning Options
  • Background of RAD
  • Background of RAD Blending (Section 18)
  • Demolition and disposition 
  • Voluntary/Involuntary conversion
  • Funding sources for conversion
  • Funding Timeline
    • Pre-Conversion
    • Year of Conversion
    • 1st year after conversion
    • 2nd year after conversion
  • Accounting for conversion costs
  • Post accounting requirements
  • Post reporting on the FDS and financial statements
  • Ending the LIPH Program

Module 2: Background to HCV Accounting 
  • Common acronyms and definitions
  • Calendar of due dates
  • Overview of HCV accounting transactions
  • Uses of Program reserves, RNP and UNP
  • Pre 2004 / post 2003 Admin fee reserves
  • Cash management
  • Fee for Service and cost allocation
  • Sources of revenues for HAP 
  • Utilizing reserves 
  • Estimating admin fee revenues

RAD and HCV Agenda Day 2 - October 21, 2020

Continuation of Module 2: Background to HCV Accounting

Module 3 : Introduction to HCV Chart of Accounts
  • Setting up the HCV chart of accounts 
  • Preparing HCV related journal entries, registers and schedules
  • Reconciliation & reporting of accounts:
    • Cash / Investments
    • Accounts Receivable
    • HUD / Government
    • Receivables
    • Deferred Charges
    • Fixed Assets Depreciation
    • Accounts Payable
    • Payroll liabilities
    • Accrued liabilities
    • Compensated absence    
    • OPEB
    • Pension liabilities
    • FSS liabilities
  • All equity (reserves) accounts
    • Revenues
  • HAP Revenues
  • Admin Revenues
  • Fraud Recovery
  • Portability
  • Handling interest on NRP
  • FSS coordinator grant recording and reporting
    • Expenses
  • HAP
  • UAP
  • Port Out HAP
    • Administrative expenses

RAD and HCV Agenda Day 3 - October 22, 2020

Module 4: VMS 
  • Basics of the Voucher Management Subsystem (VMS) 
    • VMS deadlines
    • Purpose of the VMS
    • Various voucher categories and reporting
    • Business rules of VMS

Module 5: HCV Monitoring  
  • HCV Cash Management
  • Tracking leasing utilization
  • Tracking HAP funding utilization
  • Determining HAP Funds available for HAP costs
  • PUC and estimating UML available for the year
  • Overview of the Two Year Tool 

Module 6: Introduction to the FDS (HCV Programs)  
  • Submission due dates
  • Creating an HCV FDS
  • Mapping general ledger accounts to the FDS
  • Differences between the un-audited FDS and audited FDS

*Agenda Subject to Change

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. 

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.

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.

Cancellation Policy

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.
Delivery: Internet Based
Prerequisites: None
Advanced Prep: None
Credits: Up to 12 total CPE credits for attendance in all 3 days of Track 1 (four hours each day) and up to an additional possible 12 CPE credits for Track 2
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