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RAD Conversion, Accounting & Asset Repositioning

June 8th, 2021 - June 10th, 2021

Grace Fuentes
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  • Summary
  • Day 1
  • Day 2
  • Day 3
  • CPE Information
  • Presenters
  • Cancellation Policy
Join BDO PHA Finance as we launch our live webinar: RAD Conversion, Accounting and Asset Repositioning event. This program will be presented on a user-friendly platform, providing you with the ability to easily ask questions. This webinar will include a detailed review of RAD Financial and Accounting requirements which will include funding concerns, conversion entries, and ongoing financial reporting.
 

Pricing:

(June 8 - 10, 2021)
$650 Registration per person
June 8 - 10, 2021
11:00AM - 1:00PM EST
2:00PM - 5:00PM EST 

Day 1 - June 8, 2021
 

Module 1: Introduction to Asset Repositioning

•  Asset Repositioning defined
•  Various Asset Repositioning strategies
•  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 
 

Module 2: PBV vs PBRA 

•  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
 

Module 3: Component Units  

•  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

*Agenda Subject to Change
Day 2 - June 9, 2021

11:00AM - 1:00PM EST
2:00PM - 5:00PM EST 
 

Module 4: RAD Funding

•  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
 

Module 5: Accounting Brief #22 

•  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.)
 

Module 6: Conversion Entries

•  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 entries and FDS examples)
•  Conversion entries for other repositioning strategies (Section 18, etc)

*Agenda Subject to Change
Day 3 - June 10, 2021

11:00AM - 1:00PM EST
2:00PM - 5:00PM EST 
 

Module 7: Multifamily RAD Reporting

•  Ongoing Financial Reporting requirements and concerns for a RAD property
•  Financial Data Schedule (PBRA vs PBV, PHA owned vs Component Unit)
•  Multifamily AFS (PBRA)
•  Specific discussion concerning Multifamily Housing accounting and reporting requirements for PBRA, including a walk through the AFS
 

Module 8: Advanced RAD Topics and Latest Notices

•  RAD Notice Revision 4: PIH 2019-23
•  Increasing RAD Contract Rents (PBRA)
•  Mixed RAD with Section 18
•  Various other new notices and opportunities
 

Module 9: PHA in the Post-RAD / Post-Repositioning Environment

•  Becoming a small PHA (400 or less units and less than 250 units)
•  Decision to keep or abandon your COCC
•  Using Business Activity instead of COCC
•  Final exit from Public Housing utilizing Section 18 or Streamlined Voluntary Conversion
•  Remaining Operating and/or Capital Funds
•  Other considerations to closing out your Public Housing program
•  Compiling long term projections to understand financial impact on the PHA

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. 
 

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.
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 $30.00 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 14 total CPE credits for attendance in all 3 days of full webinar
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