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IN THIS ISSUE:
- HUD Issues FAQ Document on Housing Notice H 2012-14
- Fall 2012 CPE Information & Registration
- ** Don't forget to Register for the Multifamily Conference before October 20th for a $50 early registration discount **
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HUD ISSUES FAQ DOCUMENT on HOUSING NOTICE H 2012-14 Use of "New Regulation" Section 8 Housing Assistance Payment (HAP) Contracts Residual Receipts to Offset Project-Based Section 8 Housing Assistance Payments
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On October 2nd HUD issued an FAQ document regarding the usage of residual receipts to offset HAP payments. The FAQ responds to request for information from HUD offices and industry partners. Several items are clear from this document.
- HUD has not extended the deadline for implementation of the Notice. Therefore, owners need to be prepared to implement the new procedures for requesting residual receipts by November 1, 2012 - the first month of offset. This means that requests for release of residual receipts Form HUD-9250 need to be completed and submitted to the field office in time to receive releases by November 1.
- Residual Receipt releases will not count as expenditures of Federal awards. Therefore, certain programs may fail to qualify as major programs for audits purposes under either A-133 or the HUD Audit Guide.
- There will be no P&L impact reported in the financial statements.
- Under "Financial Statement Accounting" question 6 HUD allows that management agents may collect a management fee on the residual receipts releases. Additional footnote requirements may be in required. However, the calculation will be based on the releases and not rents collected therefore avoiding any requirement to record P&L related entries.
Additional guidance is included in the document, which can be found here.
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FALL 2012 CPE INFORMATION
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** Don't forget to Register for the Multifamily Conference before October 20th for a $50 early registration discount **
See below for course dates and locations. This year we have added a Public Housing (PHA) Update course in Atlanta, GA.
Click here for our main education page Click here for Regular Fee Registration Click here for AHACPA Member Discounted Registration Click here for a printable registration form Click here for a listing of course dates and locations Click here for our CPE Calendar |
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MULTIFAMILY, LENDER and PHA UPDATE COURSES
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One-Day Update Course Fee: $395 ($345 for AHACPA Members)**
Fee includes course materials, continental breakfast & lunch
Course starts at 8:30 am and ends at 4:30 pm
**Add $25 for New York & Chicago
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Course
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Date
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Location
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Multifamily Update
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9/20/2012
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Embassy Suites Minneapolis Airport
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Multifamily Update
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9/25/2012
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Dallas/Fort Worth Airport Marriott
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FHA Lender Update
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9/26/2012
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Dallas/Fort Worth Airport Marriott
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Multifamily Update
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9/27/2012
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Kansas City Airport Marriott
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Multifamily Update
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10/17/2012
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Marriott Los Angeles Burbank Airport Hotel
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FHA Lender Update
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10/18/2012
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Marriott Los Angeles Burbank Airport Hotel
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Multifamily Update
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10/22/2012
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Marriott Boston Newton
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Multifamily Update
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10/23/2012
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New York Marriott Marquis
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FHA Lender Update
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10/24/2012
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New York Marriott Marquis
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Multifamily Update
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10/25/2012
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BWI Airport Marriott
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FHA Lender Update
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10/26/2012
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BWI Airport Marriott
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Multifamily Update
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10/29/2012
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Marriott Columbus Airport
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FHA Lender Update
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10/30/2012
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Marriott Columbus Airport
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Multifamily Update
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11/7/2012
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Philadelphia Airport Marriott
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Multifamily Update
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11/8/2012
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Renaissance Concourse Atlanta Airport Hotel
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Public Housing (PHA) Update
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11/9/2012
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Renaissance Concourse Atlanta Airport Hotel
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Multifamily Update
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11/12/2012
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Nashville Airport Marriott
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Multifamily Update
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11/13/2012
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Chicago Marriott O'Hare
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FHA Lender Update
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11/14/2012
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Chicago Marriott O'Hare
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FHA Lender Update
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12/3/2012
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The Cosmopolitan of Las Vegas
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Multifamily Conference
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12/4/2012
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The Cosmopolitan of Las Vegas
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14th ANNUAL MULTIFAMILY CONFERENCE |
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**NEW LOCATION**
The Cosmopolitan of Las Vegas
3708 Las Vegas Boulevard South
Las Vegas, NV 89109
December 4, 2012 8:00 am - 5:00 pm
December 5, 2012 8:00 am - 3:10 pm
Course Fee: $625 ($575 for AHACPA Members)*
Fee includes course materials, continental breakfast, lunch,
soda/coffee breaks and a social hour on December 4, 2012 at 5:00 pm
*Register before October 20th for a $50 discount
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LENDER UPDATE - LAS VEGAS |
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**NEW LOCATION**
The Cosmopolitan of Las Vegas
3708 Las Vegas Boulevard South
Las Vegas, NV 89109
December 3, 2012 8:30 am - 4:30 pm
One-Day Update Course Fee: $395 ($345 for AHACPA Members)**
Fee includes course materials, continental breakfast & lunch
Course starts at 8:30 am and ends at 4:30 pm
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 AHACPA 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.learningmarket.org
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