Continued Availability of Funds for COVID-19 Supplemental Payments for Properties Receiving Project-Based Rental Assistance under the Section 8, Section 202, or Section 811 Programs

This Notice announces the continued availability of supplemental operating funds for Section 8, Section 202, and Section 811 properties to prevent, prepare for, and respond to the coronavirus disease discovered in 2019 (COVID-19)1 and establishes an application process for owners of properties assisted under these programs to request funds for one or more of these …

GAO Updates “Yellow Book,” the Preeminent Standards for Government Auditing

WASHINGTON, DC (July 17, 2018)—The U.S. Government Accountability Office (GAO) today issued a new revision of Generally Accepted Government Auditing Standards, also known as the “Yellow Book.”  Last revised in 2011, the Yellow Book is designed to help government auditors at the federal, state, and local levels produce high-quality audits that reflect competence, integrity, objectivity, …

GAQC Releases Updated Illustrative HUD Reports

This GAQC Alert provides you with important updates in several key areas as follows: The issuance of the Governmental Audit Quality Center (GAQC) comment letter on proposed changes to the single audit rules and other key grant reforms; Guidance posted on the Federal Audit Clearinghouse (FAC) Web site regarding 2013 submissions in light of the …

How can I save money on my required HUD Audit?

Be sure your accounting records are in good shape and all Balance Sheet accounts are supported by backup documentation. Your accounting staff can create what is called a lead sheet for all balance sheet accounts. A lead sheet details all account activities including attachments that support all major entries. I would recommend you have a …

Can I just choose any property manager for my HUD Section 8 property?

For section 8 Housing be sure you hire a competent property manager who is familiar with Section 8 housing and the voucher subsidy system. Good Property Managers familiar with section 8 housing will have competent staff who are trained with filing voucher subsidy requests plus handling all the complicated paperwork necessary for a Section 8 …