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Event Date Tue Aug 17 EDT - Thu Aug 19 EDT (11 months ago)
Location Webinar
Region All

Join BDO PHA Finance as we launch our : 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.

• Identify federal and potential non-federal sources of revenue in a RAD conversion
• Recognize possible uses of post conversion funds
• Examine a timeline for funds converting from LIPH/CFP to PBRA/PBV
• Identify accounting issues at RAD conversion
• Determine RAD eligible costs
• Report RAD conversions on your FDS
• Implement the course’s monthly & annual accounting procedures to properly account and report for the HCV program per the latest HUD, GAAP and GASB regulations
• Analyze a simple methodology to account for and report HCV administrative fees
• Discuss the anticipated SEPHAS for Section 8
• Examine tips for accurate preparation and submission of the VMS and Section 8 program FDS
• Identify at least five areas where the RNP is calculated differently on the FDS vs. VMS
• Discuss relevant HCV program related HUD, GAAP and GASB updates
• Review the proper methods monitor HAP funds, HUD-held reserves, Restricted Net Position and leasing
• Discuss HUD's Two Year Tool

Module 1: RAD & Other Asset Repositioning Options
• Background of RAD
• Background of RAD Blending (Section 18)
• Demolition and disposition
• Voluntary/Involuntary conversion
• Funding sources for conversion
• Funding Timeline
• Pre-Conversion
• Year of Conversion
• 1st year after conversion
• 2nd year after conversion
• Accounting for conversion costs
• Post accounting requirements
• Post reporting on the FDS and financial statements
• Ending the LIPH Program

Module 2: Background to HCV Accounting
• Common acronyms and definitions
• Calendar of due dates
• Overview of HCV accounting transactions
• Uses of Program reserves, RNP and UNP
• Pre 2004 / post 2003 Admin fee reserves
• Cash management
• Fee for Service and cost allocation
• Sources of revenues for HAP
• Utilizing reserves
• Estimating admin fee revenues

Module 3 : Introduction to HCV Chart of Accounts
• Setting up the HCV chart of accounts
• Preparing HCV related journal entries, registers and schedules
• Reconciliation & reporting of accounts:
• Cash / Investments
• Accounts Receivable
• HUD / Government
• Receivables
• Deferred Charges
• Fixed Assets Depreciation
• Accounts Payable
• Payroll liabilities
• Accrued liabilities
• Compensated absence
• Pension liabilities
• FSS liabilities
• All equity (reserves) accounts
• Revenues
• HAP Revenues
• Admin Revenues
• Fraud Recovery
• Portability
• Handling interest on NRP
• FSS coordinator grant recording and reporting
• Expenses
• Port Out HAP
• Administrative expenses

Module 4: VMS
• Basics of the Voucher Management Subsystem (VMS)
•VMS deadlines
• Purpose of the VMS
• Various voucher categories and reporting
• Business rules of VMS

Module 5: HCV Monitoring
• HCV Cash Management
• Tracking leasing utilization
• Tracking HAP funding utilization
• Determining HAP Funds available for HAP costs
• PUC and estimating UML available for the year
• Overview of the Two Year Tool

Module 6: Introduction to the FDS (HCV Programs)
• Submission due dates
• Creating an HCV FDS
• Mapping general ledger accounts to the FDS
• Differences between the un-audited FDS and audited FDS


2021 Speakers


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