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RAD Conversion, Accounting & Financial Reporting - March Winter 2019

March 28, 2019 - March 29, 2019

Ten Penn Center
1801 Market Street
24th Floor
Philadelphia, PA 19103
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
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 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
9:00am to 4:30pm


• 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
9:00am to 4:30pm


• 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
Ten Penn Center is located in the heart of downtown Philadelphia and within 20 minutes of the Philadelphia International Airport. You are steps away from hotels, restaurants and nightlife.  

*Please note BDO is not currently holding any sleeping room blocks at this time but you have plenty of options to choose from. Please remember to ask for the Government rate when booking your room!
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 20 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 thirteen 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 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.