Public Housing Authorities (PHAs) and related organizations like development corporations, component units, nonprofits and tax credit projects, all require a unique set of services to maintain compliance. Rubino works with numerous government contractors. government entities and nonprofits to provide experienced financial and consulting services. We understand the unique complexities of this heavily regulated environment and know how to help you maintain compliance. We have in-depth knowledge of the regulatory requirements for housing authorities, HUD-funded agencies and related private sector entities.
Meeting the Needs of Housing Authorities
We offer a full spectrum of services to meet the needs of housing authorities, and we are nationally recognized for our expertise and leadership in the affordable housing industry. We can guide you through the processes and requirements of numerous programs and assist you in identifying and correcting compliance issues. Our professionals can also assist with preparing responses to HUD-related issues to remove compliance concerns.
We are well-versed in the requirements for annual REAC submissions, State level Finance Authority reporting for audits and tax credit projects, the nuances of HUD accounting rules, FDS line item classifications, the litany of compliance requirements including SEMAP, VMS, ELOCCS, procurement regulations, and Section 3, and the additional requirements under OMB, including the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. We bring a unique perspective to the table thanks to our work externally as auditors and internally as CFOs, and our practical perspective can help bring new solutions to the issues that affordable housing entities face.
- Annual financial statement audits
- Single audits in accordance with OMB under the Uniform Guidance
- Year-end closings
- Assistance with REAC submissions
- Component unit audit and tax services including development corporations, tax credit projects, and nonprofits
- Cost certification audits for tax credit projects
- Other regulatory reporting to state housing finance agencies including separate and additional reporting beyond HUD requirements
- Outsourced CFO and accounting services
- Consulting to troubled authorities and work-out/repayment agreements with HUD
- Consulting on RAD implementation
- Transaction/entity structuring
- General financial and compliance consulting
- Tenant file reviews
- Property management compliance implementation
- Tax credit application assistance
- Construction cost allocation determinations
- Tax Exempt Bond testing
- Eligible Basis calculations
- Year 15 option analysis
The Rubino Commitment to Quality
We work tirelessly to deliver quality services to our clients, and we are proud of our impeccable reputation. In all of Rubino’s peer reviews, conducted by an independent CPA firm, we have received an unqualified report without a letter of comment. This accomplishment is very difficult to obtain, and it speaks to the level of commitment our firm has to providing quality audit and review services.