May 4 Affordable Housing Seminar
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.
- 9:30 – 10 am Registration
- 10 – 11:20 am Accounting for the Development Cost Certification
- 11:20 – 11:40 am Break
- 11:40 am – 12:20 pm Accounting for the Development Cost Certification/Considerations for the 50% Test
- 12:20 – 1 pm Lunch
- 1pm – 2:15 pm Accounting for Financial Statements in the First Year of Operations
- 2:15 – 2:45 pm Best practices for accounting for affordable housing partnerships
- 2:45 – 3 pm Wrap up
- Elizabeth Harriger, Partner & Director of Affordable Housing Services
- Gary Dubas, Partner & Director of Nonprofit Services and leader in the Affordable Housing segment
- Jim Shellenberger, Partner and leader in the Affordable Housing segment as well as the Nonprofit segment
- Mark Welliver, Manager
Date: Thursday, May 4, 2023
Time: 9:30 am to 3:00 pm (Registration begins at 9:30 and the seminar begins at 10:00)
Location: Giant Community Center: inside the Giant Food Store 3301 East Trindle Road Camp Hill, PA 17011
CPE: 4.5 A&A credits. The level is basic and no prerequisites are required.
Fee (includes lunch): $85 per person, for 3 or more registrants the cost is $75 per person (the difference will be refunded after registration).