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RAD Conversion, Accounting & Financial Reporting

October 9, 2018 – October 10, 2018

Housing Authority of the City of Los Angeles
2600 Wilshire Blvd
Los Angeles, CA 90057
get directions

Grace Fuentes
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  • 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.

Pricing 
$595 for the two day session
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 $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
Prerequisites: None
Advanced Prep: None
Credits: Up to 15 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
October 9, 2018
8:30am to 4:00pm
 
8:30am-10:15am
• 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
 
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
 
1:00pm - 2:15pm
• 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
 
2:30pm - 4:00pm
• 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
October 10, 2018
8:30am to 4:00pm
 
8:30am
• 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
 
10:30am - 12:00pm
• 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
 
1:00pm - 2:15pm
• 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 
 
2:30pm - 4:00pm
• Organizational, staffing, revenue, and expense issues
• How to ensure your COCC will still be viable after conversion to RAD
The Housing Authority of the City of Los Angeles will hold the seminar in their Board Room located at 2600 Wilshire Blvd in Los Angeles, CA 90057.
 
The Housing Authority of the City of Los Angeles has suggested the following nearby hotels (be sure to request the government rate). *Please note the Housing Authority is not holding a group block at any location.

Sheraton Grand Los Angeles
711 S Hope St
Los Angeles, CA 90017
(213) 488-3500

JW Marriott Los Angeles
900 W Olympic
Los Angeles, CA 90015
(213) 765-8600

Best Western Plus
603 S. New Hampshire Ave
Los Angeles, CA 90005
(213) 385-4444

Hotel Normandie
605 S. Normandie Ave
Los Angeles, CA 90005
(213) 388-8138
Jason Casterline, CPA, Managing Director
Jason has over 27 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.