Scope of Accounting Services

  • Collection of tenant rents, security deposits, and other required monthly payments.
  • Record all payments received and maintain accurate reports of same.
  • Deposit collected rents in the Development bank account and maintain accurate reports of same.
  • Process Accounts Payable promptly to secure project-related discounts if applicable.
  • Prepare Financial Statements in accordance with HUD Requirements.
  • Review any and all expenses for Development to ensure accurate recording.
  • Review all costs for potential savings and/or need for review or new vendor consideration.
  • Maintain appropriate files to ensure compliance with Federal and State requirements for EIN registration and proof of insurance.
  • Prepare and submit all 1099 year-end filings.
  • Maintain fixed asset data base.
  • Assist in preparation of the annual Development budget through identification and reporting of anticipated Development operating budget demands and capital improvement needs.
  • Schedule year end fiscal year audit with Owner approved audit firm.
  • Work with Audit/Tax firm to ensure timely and successfully filing of year-end tax returns or 990 as applicable.
  • Prepare all required audit documents and required work papers.
  • Maintain successful and cooperative relationship with all vendors and audit firm.
St Clare Management