lynn@shaks.org
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All Submissions subject to approval and editing.
Management Discussion & Analysis (MD&A)
Tipster: David Land, Lindsey & Company
Several clients have asked their Fee Accountant to assist with their Management
Discussion and Analysis (MD&A). At least one Fee Accountant is gearing up to
do this; you should check with yours to see if he/she is willing to assist.
Keep in mind that the MD&A must be completed after the submission of the
un-audited financial statements. It must be submitted along with the audited
financial statements. If the auditor finds any thing during the audit that will effect the
MD&A, the MD&A will have to be changed before it can be submitted with the
audit. For this reason I would recommend that your contracts with the auditor
include a provision that the audit will be completed within 7 or 8 months (instead
of 9) after your year end and that the auditor will be expected to transmit the
MD&A along with the audit. This will give you time to make any necessary
changes to the MD&A before the drop dead due date of the audit.
Primary Residence Clause
Tipster: Gary Diers, Office of Inspector General
Your Lease and your ACOP (Admissions & Continued Occupancy Policy) should
address the primary residence of Public Housing Residents. All leases should have a
section that states that the Public Housing unit should be the primary residence of all
adult individuals who sign the lease agreement. Otherwise, Public Housing could be
occupied by individuals who use the unit only part-time, or as a 'vacation' home. Gary
Diers, Office of Inspector General, investigated a case whereas a woman was residing in
the Public Housing unit 3-4 days a week and visiting her ex-husband the remaining days.
Another housing authority had a case where the family took frequent vacations, and it
was eventually learned that they were receiving Public Housing in one city in Kansas,
and had Section 8 assistance on another unit back east where they visited 3-4 months
out of the year. Federal regulations do not address this issue for Public Housing, but
they have been addressed for Section 8. This is why it is very important that Public
Housing agencies include in their lease agreement and/or ACOP.
