Outline for Project Based Budgeting, Accounting and Reporting “Update” Workshop

Two Day Seminar 8:30a.m. - 4:30p.m.

Locations

Brief review of new financial structure and project based accounting requirements:

Asset Management Project (AMP) and Central Office Cost Center (COCC)

Budgeting, Accounting and Reporting

Management Fees, Bookkeeping Fees, CFP Fees and Service Fees

Front Line Expenses versus Central Office Costs; Assignment of Costs

Budgeting under Asset Management

Internal and External Reporting under Asset Management

Impact of changes from 2008 Appropriations Act, including HUD implementation notice:

Utilizing CFP funds for COCC

Increase in unit threshold

Other issues as applicable

New developments in the area of management fees, including new three year phase in of management fee; discussion on what is required to request additional three years to phase in the management fee

Pending legislation regarding delay in implementing fees, and negotiated rulemaking on fee amounts (the “Asset Management Improvement Act”)

New ideas on balancing the central office cost center and maximizing COCC revenue

New developments in the area of eligible AMP-level front line expenses and charges, including changes brought about by new HUD-published “frequently asked questions”

New budget format provided by HUD – budgeting for gross potential rent and vacancy loss; gross potential subsidy and subsidy loss due to proration and vacancies

Balance sheet distribution:

Tips on initial distribution of assets and liabilities: cash, investments, receivables, prepaids, fixed assets, current and non-current liabilities, equity/net assets

Ideas on accounting for cash and investments by AMP and COCC on an ongoing basis; utilizing one bank account for AMPs and COCC

Various other balance sheet issues

New HUD reporting briefs:

Reporting Brief 1 - The treatment of Capital Fund Proceeds in Operating Budgets

Reporting Brief 2 - Capital Fund Program

Reporting Brief 3 - Mixed Finance Reporting of Non-Component Units

Reporting Brief 4 - Central Office Cost Center (COCC) and Sale of Restricted Assets

Reporting Brief 5 - Financial Reporting for Capital Fund Financing Program (CFFP)

Reporting Brief 6 - Program Transfer Reporting

+ any other briefs available at class time

New Financial Data Schedule Submission format, including latest available information on AMP level and COCC FDS, new line numbers, new reporting details, etc.

New Public Housing Assessment System AMP-level scoring process, if available in time for seminar

Staffing and PUM expense data comparisons