Governmental Entities, Including HUD Programs
Balancing service expectations with greater fiscal constraints makes these times particularly challenging for government entities. Wipfli/Bauerle understands how state, city, county, township and school district accounting and reporting requirements differ from those of the private sector and offers pragmatic strategies in response. Of specific value is our annual audit service to assure taxpayers and regulators that Governmental Accounting Standards Board (GASB) or Financial Accounting Standards Board (FASB) rules are being followed. We also provide assistance in identifying opportunities for improvement within your current system and guidance in addressing potential internal control, accounting system and management issues. Moreover, our team is experienced in OMB Circular A-133 audits and grant-specific audits.
Department of Housing and Urban Development Programs (HUD)
HUD program audits are complex and require specific disclosures, moving them beyond the realm of many accounting firms. Wipfli/Bauerle has experienced staff and dedicated partners serving the housing and development market, including two partners who meet the criteria of the governmental yellow book required to perform certain federal work. Our scope of HUD services includes:Annual audits and accounting services over the life of the project.
- Annual audits and accounting services over the life of the project;
- Audit and accounting services for the initial audit period, once the project is operational;
- Preparation of HUD mortgagors and contractors certification.
With audit standards changing often, staying current with all HUD requirements is difficult, and failure to comply can result in large penalties or even disqualification. Wipfli/Bauerle’s membership in the Affordable Housing Association of CPAs (AHACPA) assures you the team working on your behalf is well versed in the issues and events within the industry.
Specialized Government/HUD Services
- Budgeting forecasting and financial analysis
- Cash flow analysis and management
- Cost-certification audits
- Electronic submittal of audited financial statements
- OMB Circular A-133 audits
- Operational audits
- Section 8 low-income housing credits