Specifications include, but are not limited to: The scope of services may include, but is not limited to, the following services: A. Assessment and Recommendations: Perform a financial assessment of the HACC and prepare a written report with recommendations. The assessment will include a review and recommendation of the following HACC polices, programs, and procedures, as reviewed against industry best practices and relevant local, state, and federal program and fiscal compliance requirements. Provide a report of observations and recommendations to HACC. B. Accounting & Budget Support: • Cash and investments. • Tenant accounting and bad debt expense. • Prepaid accruals and other current assets. • Fixed assets and construction in process. • Current and long-term liabilities. • Inter-fund balances and settlements. • Debt and equity. • Other statement of net position or statement of revenues, expenses, and changes in net position accounts. • Financial reporting. • Budget to actuals reporting. • Budget development. C. Year-end Accounting Assistance (fiscal year-end is June 30) • Assist with comprehensive reconciliation of all statement of net position accounts. • Take the lead role in capital fund program hard/soft costs analyses along with the construction in process account reconciliation. • Assist with input, review, and submission of the year-end HUD financial data. schedule (FDS). • Assist with preparation of documentation to support the annual audit effort. • Assist with the compilation and publication of the Annual Comprehensive Financial Report, including assistance with drafting footnotes, the management discussion and analysis, financial statements, supplementary information, and statistical reports. D. Provide periodic technical, training and consulting assistance to support the Finance Department • Assist with the accounting for new tax credits, rental assistance demonstration (RAD), and grant initiatives. • Advise and assist on accounting and financial issues related to migration to being a Moving to Work (MTW) agency and with other new programs. • Consult, train and assist with the implementation of the accounting needed for new Governmental Accounting Standards Board pronouncements. • Housing Choice Voucher (HCV) financial and utilization analysis. • Housing Choice Voucher (HCV) Management System Reporting (MASS). • Housing Choice Voucher (HCV analysis of Restricted Net Position (RNP) and Housing Urban Development (HUD) held reserve. • Capital Fund. • Calculation of Operating Subsidy. • Financial Assessment Subsystem and Management Operations Indicator (MASS) ratios. • Cost allocation plan. • Internal Controls.
