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RAD Conversion, Accounting and Financial Reporting - July Summer 2018

July 31, 2018 - August 1, 2018

Augusta Housing Authority - Board Room
1435 Walton Way
Augusta, Georgia 30901
get directions

Grace Fuentes
  • Summary
  • Agenda
  • 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.

$495 for the two day class

Return to PHA Finance
July 31, 2018 8:30am to 4:00pm
  • RAD financial overview, to include detailed explanation of the program and how it works from a financial perspective
  • Overview of the Provisions of the RAD Notice
  • RAD funding – how the Public Housing funding, CFP funding, and Dwelling Rent translates to the Contract Rent, specifics of the Contract Rent calculation, and other funding considerations such as the rent caps and rent reasonableness
Break 10:15am-10:30am
  • 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
  • Utilizing the HUD Inventory Assessment Tool – various options within the tool for evaluation, how to update the information for more current evaluations, ensuring that assumptions are realistic
Lunch 12:00pm-1:00pm
  • 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 2:15pm-2:30pm
  • Detailed review of REAC Accounting Brief #22
  • Funding considerations during conversion period and detailed discussion concerning timelines and milestones
  • Public Housing Assessment System (PHAS) implications
August 1, 8:30am to 4:00pm
  • Detailed review of REAC Accounting Brief #22 (continued) 
  • LIHTC Supplement to REAC Accounting Brief #22 
  • 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 10:15-10:30am
  • 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
Lunch 12:00pm-1:00pm
  • 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 2:15pm-2:30pm 
  • Organizational, staffing, revenue, and expense issues
  • How to ensure your COCC will still be viable after conversion to RAD
The Augusta Housing Authority is graciously hosting this session onsite at 1435 Walton Way in Augusta Georgia.  The Housing Authority has recommended the following list of hotels.  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.    

Marriott Hotel & Suites (Downtown)
2 10th St
Augusta, GA
(706) 722-8900

Quality Inn Medical Center Area
1455 Walton Way
Augusta, GA
(706) 722-2224

The Partridge Inn
2110 Walton Way
Augusta, GA
(706) 737-8888

Rodeway Inn & Suites 
3039B Washington Rd.
Augusta, GA
(706) 650-1311

Hampton Inn-Augusta
3028 B Washington Road
Augusta, GA
(706) 738-4567
Jason Casterline
Managing Director, Trainer

With more than 30 years of experience, Jason has a wealth of experience in assisting housing authorities with financial management issues. He has provided consultation services to more than 150 Public Housing Agencies (PHAs) since 1985, including providing management advice to many of the ten largest PHAs. Prior to joining BDO, Jason founded Casterline Associates, PC, which he led for 22 years. 

Nick Auriemma
Managing Director, Trainer

Nick specializes in fee accounting, RAD consulting, and GASB pronouncement interpretations. In his 15 year career, he has provided engagement oversight, technical analysis, and public housing accounting and reporting to his clients. Prior to joining BDO, Nick was a principal manager in a firm that performed public and affordable housing audits. 
Participants will learn:
  • Discuss three details concerning the RAD program, including a review of the provisions in the RAD Notice PIH 2012-32
  • Recognize how the RAD program works from a funding and financial perspective
  • Highlight the pros and cons of converting under PBV versus PBRA
  • Analyze how to record a conversion to RAD for a specific AMP, under various scenarios: PHA owned versus Component Unit, Low Income Housing Tax Credits conversions, PBV versus PBRA, etc.
  • Review ongoing financial reporting requirements under both HUD-REAC FDS requirements, and where applicable, Multifamily AFS requirements

Cancellation Policy
Seminar registrants may cancel up to two weeks prior to a group live seminar for a refund, less a $25 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

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.
Delivery: Group Live
Prerequisites: None
Advanced Prep: None
Credits: Up to 16 total 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