Helping you confidently serve communities in need.
Affordable Housing Specialty
We know an accurate and timely accounting engagement can provide your organization with priceless insight, helping you improve your organization’s strategy, management decisions, and internal controls. Our extensive experience in the industry includes:
Housing and Urban Development (HUD)
We furnish financial statements in accordance with HUD prescribed format, file financial statements with Real Estate Assessment Center (REAC) and prepare tax returns. Additionally, we incorporate the HUD consolidated audit guide in conjunction with Government Auditing Standards (Yellow Book) and where applicable, Uniformed Guidance (formerly OMB A-133) to allow the process to go smoothly. Our team members will happily provide suggestions and solutions to issues that might appear during the engagement.
For those properties that are being refinanced by HUD, we prepare reviewed financial statements or agreed upon procedures within HUD refinancing guidelines.
Low Income Housing Tax Credits (LIHTC) or IRS Section 42 Tax Credit Properties
We provide financial statements and tax return preparation. Due to partnership agreements and tax filing deadlines, these organizations have very quick turnarounds. With the intense due dates imposed, it is crucial to work with a dedicated team that can meet and beat your deadlines. We work smoothly with management companies, owners, and syndicators to ensure compliance with guidelines.
Rural Development (RD)
We provide financial statements, agreed upon procedures, preparation of 3560-07 Project Budget and 3560-10 Balance Sheet within United States Department of Agriculture (USDA) – Rural Development Handbook 3560 guidelines. We incorporate these requirements in conjunction with Government Auditing Standards (Yellow Book) to allow the process to go smoothly. We can also assist with local RD office personnel on areas of concern and questions throughout the process.