Nuts & Bolts: Hud Accounting, Budgeting, & Reporting 2021 (B) | BDO USA, LLP | 17 August 2021 | Webinar

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.

RAD AND HCV OBJECTIVES
• 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
• OPEB
• 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
• HAP
• UAP
• 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

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