Affordable Housing Seminar 5.4.23 web image

Join McKonly & Asbury’s affordable housing team as they discuss accounting for the development phase and beyond of a low-income housing tax credit partnership. The seminar will cover accounting and preparing for the development cost certification required by the Pennsylvania Housing Finance Agency (PHFA) as well as accounting for the first audit after operations begin. Interactive discussions will focus on basis and non-basis eligible costs, construction contingency, legal fees, furnishings, interest, energy rebates, and more as these items relate to the cost certification. Speakers will also cover topics such as, but not limited to, accounting for the developer’s fee, accounting for investor equity contributions, reconciling from the construction in progress accounts to the cost certification, and presenting financial statements in accordance with PHFA Guidelines. Speakers will conclude with a discussion about best practices for affordable housing partnerships.