PHA Fee Accounting

After many years providing audit services to PHA’s, our firm has become uniquely qualified to act in the capacity of Fee Accountant. Our approach to fee accounting services is to work with the client to enable them to handle the day-to-day accounting activities independently. Rather than take over the accounting function, we prefer to keep the staff infrastructure in place and act as consultants or outsourced CFO’s to assist the accounting staff with areas that require additional experience or specialized knowledge.

Budget Friendly

Our solution provides for cost savings whereby your PHA can avoid the high cost of employing a qualified CPA, but still benefit from the knowledge and expertise as if you did. Some highlights of the common services contained in our PHA Fee Accounting solution are:

Wrap It Up

Assist the PHA Staff with the year-end closing of the Authority’s books. This will include scanning general ledger balances to assure that they comply with general accepted accounting principles and GASB standards and making adjustments as necessary.

Auditor’s Best Friend

Provide the Auditor with a package containing adjusted trial balances, adjusting entries along with work papers supporting the account balances and financial statement items.

Depreciation? – No Problem

Maintain fixed asset ledgers and depreciation schedules

Budgets

Assist Authority staff with preparing annual budgets.

REAC

Assist with preparation of the annual unaudited Financial Data Schedule (FDS) and submission to REAC. Be available to resolve any questions from REAC throughout the process.

Funding

Assist with annual operating subsidy calculation and supporting forms.

A Second Look

Be available to look at the annual audit report to assure that it is in compliance with government standards and contains adequate disclosures.

Completion

Submit the audited financial statements and FDS to REAC.

Experienced Resource

Attend periodic board meetings to help explain and discuss financial matters.

Common Software Experience

We work regularly with HAB, Inc., PHA Web, and Tenmast (WinTen2) software solutions.

Both HAB & Tenmast have been purchased by MRI