Venue
Webinar

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Event Date Tue Aug 10 EDT - Thu Aug 12 EDT (in 13 days)
Location Webinar
Region All
Details

Join BDO PHA Finance as we launch our live webinar: Nuts and Bolts of HUD Accounting, Budgeting, and Reporting. This program will be presented on a user-friendly platform, providing you with the ability to easily ask questions and hear the latest GAAP, GASB and HUD updates from BDO’s seasoned, knowledgeable professionals.

Each live, web-based track will take place in three days, offering content for four hours per day.
Track 1: Public Housing, focusing on the Low Income Public Housing Program and the Capital Fund Grant program.
Track 2: Housing Choice Voucher, focusing on the Housing Choice Voucher Program’s basic accounting and reporting requirements and featuring a half day dedicated to RAD and other asset repositioning options.

LIPH OBJECTIVES.
• Discuss the HUD chart of accounts for Public Housing, Capital Funds, other related grants and over two dozen common related transactions.
• Examine 10 basic components of the Operating Fund calculation.
• Discuss LIPH cash management.
• COVID-19 Updates.
• Review the four indicators and related sub-indicators of PHAS the anticipate SEPHAS.
• Discuss the eligible and in-eligible costs of the Capital Fund program.
• Assess how to report Capital Fund activity annually on the Financial Data Schedule (based on the Final Rule) and differentiate between “hard” and “soft” costs.
• Review EPIC and the creation of a sucessful FDS submission.
• Analyze the creation of a successful FDS submission.
• Discuss relevant LIPH related HUD, GAAP and GASB updates.

Module 1: Introduction to Public Housing Accounting
• Common acronyms and definitions.
• Calendar of due dates.
• Overview of LIPH accounting transactions.
• Eligible uses of operating reserves.
• Measuring reserve levels.
• Cost Allocation.
• Project based accounting and the COCC.
• Fee-for-service.
• Eligible costs.


Module 2: Introduction to the Public Housing Chart of Accounts
• Setting up the LIPH chart of accounts
• Preparing LIPH related journal entries, registers and schedules
• Reconciliation & reporting of accounts:
• Cash / Investments
• Accounts Receivable
• HUD / Government
• Receivables
• Deferred Charges
• Fixed Assets Depreciation
• Accounts Payables
• Notes / Mortgages Receivables
• Payroll liabilities
• Accrued liabilities
• Compensated absences
• PILOT
• Notes / Mortgages payable
• OPEB
• Pension liabilities
• FSS liabilities
• Lease Liabilities and Assets
• All equity (reserves) accounts
• Revenues
• Expenses

Module 3: Introduction to the FDS (Public Housing & Related Programs)
• Background of FDS.
• Submission due dates.
• Creating a FDS.
• Mapping general ledger accounts to the FDS.
• Differences between the un-audited FDS and audited FDS.
• Various options and categories of FDS submissions.

Module 4: Introduction to PHAS
• An overview of the PHAS Indicators and sub-indicators
• PASS
• FASS
• MASS
• CFP indicator
• How to calculate indicator and sub-indicators scores
• How to calculate composite scores
• What is SEPHAS?

Module 5: Introduction to the Capital Fund (CFP) Grant
• Background of the CFP grant
• Capital Fund specific transactions for each Budget Line Item (BLI)
• Eligible costs and ineligible costs
• Comparing CFP fund revenue to expenses incurred by the Authority
• Tracking obligations and expenditures deadlines
• The “Treasury Rule”
• The EPIC reporting systems

Module 6: Introduction to the Operating Fund Calculation
• Background of the Operating Fund Calculation
• Summary of occupancy categories for funding eligibility
• Reporting and funding periods
• Elements of the formula expense level
• PEL
• UEL
• Add-ons
• Transition funding
• Elements of formula income
• Proration
• eLOCCS drawdowns of subsidy
• Operating Fund Portal and LIPH Cash Management

Speakers

2021 Speakers

PRESENTERS:

Brian D. Alten
CPA, Partner

Nick Auriemma
CPA, CFE, Managing Director

Jason Casterline
CPA, Managing Director

Dwayne Tucker
CPA, Senior Manager

Jake Bastoni
CPA, Manager