FASS/ REAC Submissions

3,300 Public Housing Agencies exist in the United States. In order to assess the financial condition of these agencies, REAC reviews each agency’s financial information annually through the Financial Assessment Sub System (FASS).

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Fee Accounting

Housing Solutions Alliance has been providing Fee Accounting Services for over 30 years. Currently HSA provides accounting services for 137 Housing Authorities throughout seven states totaling 183 ledgers for Public Housing, Section 8, Rural Rental & FHA financed/ Tax credit properties.

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List of Auditors

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Low Rent Budgets & Revisions

HSA prepares a yearly budget for each of our clients. An information worksheet is sent to each Housing Authority to compete. This worksheet is used to gather information about the Housing Authority’s planned expenditures in the upcoming year.

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MD&A’s

An MD&A is a special report representing the Public Housing Authority Management’s explanation and interpretation of facts concerning its financial statements. The MD&A is a supplement which management includes with the Public Housing Authority’s audited or reviewed financial statements.

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Payroll Reports

A supplemental service offered by Housing Solutions Alliance is the preparation of all quarterly payroll reports (941s, unemployment and if applicable, state income tax) and W-2s at the end of the year.

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VMS

The VMS (Voucher Managment System) is the system used by HUD to collect information for the Housing Choice Voucher Program. This information is used to determine the amount of HAP, Admin Fees, Hard to House and Audit funding each Housing Authority will receive in the CY (Calendar Year).

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1099’s

Generally, 1099’s are required to be issued to any unincorporated entity you pay $600.00 or more during the year. Housing Solutions Alliance can assist you in meeting this requirement. For us to prepare your 1099s for you, we will need a detailed recap of all such payments you made during the year.

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