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RAD Conversion, Accounting, and Financial Reporting - July Sacramento Summer 2019

July 23, 2019 - July 24, 2019

Sacramento Housing Authority
801 12th Street
Sacramento, California 95814
get directions

Grace Fuentes
  • Summary
  • Day One
  • Day Two
  • CPE Information
  • Hotel Information
  • Presenters
Join BDO for our RAD Conversion, Accounting and Financial Reporting event. This session is a two day, group live course on how the program works from a financial perspective. The class will include a detailed review of RAD Financial and Accounting requirements which will include funding concerns, conversion entries, and ongoing financial reporting.

$650.00 for the two day class

Return to PHA Finance

Day One
9:00 AM to 4:30 PM

9:00 AM: Introduction to RAD:

  • RAD financial overview, to include detailed explanation of the program and how it works from a financial perspective
  • Overview of the Provisions of RAD Notice
  • Discussion of various different stages of RAD conversion
  • Other introductory topics

Break 10:15 AM to 10:30 AM

10:30 AM
  • Detailed discussion: PBRA vs PBV – pros and cons of each, comparison of the requirements related to each option, comparison of options to recover overhead (COCC costs) under each option, how to determine which is best for your PHA, other items of importance concerning PBRA vs PBV

Lunch 12:00 PM to 1:00 PM

1:00 PM
  • Review of GASB 14 and GASB 61 to ensure proper Component Unit determination and reporting for affiliates that are established to facilitate conversion to RAD

Break 2:15 PM to 2:30 PM

2:30 PM
  • RAD funding - how the Public Housing funding, CFP funding, and Dwelling Rent translates to the Contract Rent, specifics of the Contract Rent calcuation, and other funding considerations such as the rent caps and rent reasonableness
Day Two
9:00 AM to 4:30 PM

9:00 AM
  • Detailed review of REAC Accounting Brief #22 and RAD Accounting Requirements 
  • LIHTC information not provided in the Accounting Brief
  • General ledger, fund, and accounting structures – how to set up your books and accounting system to accommodate RAD (under various scenarios: LIHTC vs Non-LIHTC, PBRA vs PBV, affiliate ownership versus PHA-owned, etc.)

Break 10:15 AM to10:30 AM

10:30 AM
  • Establishing the Chart of Accounts for various associated ledgers
  • Detailed review of accounting requirements and conversion transactions to transition to RAD under various scenarios including transfer vs sale, affiliate-owned vs PHA-owned (to include three different case studies, with detailed entires and FDS examples)

Lunch 12:00 PM to 1:00 PM

1:00 PM
  • Detailed review of accounting requirements and conversion transactions to transition to RAD under various scenarios including transfer vs sale, affiliate-owned vs PHA-owned (to include three different case studies, with detailed entries and FDS examples) (continued)
  • Ongoing Financial Reporting requirements and concerns for a RAD property
  • Financial Data Schedule (PBRA vs PBV, PHA owned vs Component Unit)
  • Multifamily AFS (PBRA)

Break 2:15 PM to 2:30 PM

2:30 PM
  • Specific discussion concerning Multifamily Housing accounting and reporting requirements for PBRA, including a walk through the AFS

Participation Requirements for CPE Programs
To receive CPE credit for participation in a BDO training program, you must sign-in at the beginning and actively participate throughout the session. You will receive an email notification once the attendance record has been processed, including instructions on how to access your CPE certificate.

Cancellation Policy
Seminar registrants may cancel up to two weeks prior to a group live seminar for a refund, less a $50 processing fee; cancelled registration payments prior to the cutoff date can also be applied (in full) to any future event. Cancellations after the two week cutoff date will receive a full credit towards a future seminar. 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. If payment has been submitted, please indicate the payment method (check/PayPal). 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: Group Live
Prerequisites: None
Advanced Prep: None
Credits: Up to 14 CPE credits
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
The Sacramento Housing Authority is graciously hosting this session onsite at 801 12th St, Sacramento, CA 95814. The Housing Authority has recommended the Best Western (across the street from the Authority) located at 1100 H St, Sacramento, CA 95814. Prices will vary but should be reasonable. Don’t forget to mention the Gov’t rate when making a reservation. Please note the HA is not currently holding any rooms at this time. First come, first serve.

**Please note: the SHA does not provide parking in a separate lot. There is street metered parking and a city lot next to the building with full day parking rate of $10.00

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.