Fee Accounting

Housing Solutions Alliance has provided fee accounting services for over 35 years. Currently HSA provides accounting services for 130 housing authorities throughout seven states for Public Housing, Section 8, USDA Rural Development, and FHA financed/tax credit properties.

We issue monthly financial statements to our clients containing a balance sheet, income and expense report, bank reconciliation, general ledger, transaction ledger, check register, and capital fund report.

We specialize in providing accounting service in situations where the housing authority’s financial records are in disarray.

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 Asessment Sub System (FASS).

Payroll Tax Reports

A supplemental service offered by Housing Solutions Alliance is the preparation of all quarterly payroll tax reports (941s, unemployment, and if applicable, state income tax) and W-2s and 1099s at the end of the year.

We are happy to aid in determining the correct calculation for withholding payroll taxes and in making quarterly tax deposits.

MD&A’s

A management discussion and analysis (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.

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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Training

For many years, members of our staff have conducted financial management and budget training sessions for many housing authorities in the seven states region of Southwest NAHRO. Our staff has also conducted training for Southwest NAHRO, Missouri NAHRO, Texas NAHRO, Louisiana Housing Council, and Texas Housing Association.

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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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