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HUD Projects and Lenders

SBNG provides true relationship-based services and has been a member of our team for years. They gently guide the audit process, offering suggestions for improvement along the way, and think outside the box on behalf of the client with respect to tax issues.

Joe Fulkerson, Chief Financial Officer
EPT Land Communities

The audit for our facility has always been timely and accurate.

Gloria Duran
Ysleta Senior Housing, Inc.

SBNG has over 30 years of combined experience in serving HUD projects and lenders. We serve a number of clients, both for-profit and not-for-profit, who operate multi-family housing projects or are FHA-lenders regulated by the U.S. Department of Housing and Urban Development (HUD).

The HUD-regulated industry has a number of specialized needs, including unique reporting requirements, cost certifications, HUD submissions, and tax credit opportunities. Our philosophy is to work closely with HUD-regulated entities to ensure their principals understand and identify major compliance requirements. We maintain contact with our clients throughout the year, and provide knowledge and guidance as questions arise.

We are committed to exceeding the highest-quality standards of our profession in each service we provide to our clients. Click below to learn more about our commitment to quality, which includes our peer review results and membership in the AICPA Governmental Audit Quality Center and Employee Benefit Plan Audit Quality Center.

Learn more about our "Commitment to Quality"

We provide the following services for HUD projects and lenders:

Audit & Assurance Services

  • Financial statement audits, reviews and compilations
  • Compliance (Single) audits under Uniform Guidance
  • Governmental audits under Governmental Auditing Standards (Yellow Book)
  • HUD multi-family cost certification audits
  • Employee benefit plan audits
  • Agreed-upon procedures (AUP)

Tax Services

  • Preparation of annual federal and state tax returns for the company and owners
  • Preparation of annual Form 990/990-T/990-EZ/990-N
  • Not-for-profit tax-exempt status application (Form 1023/Form 1024) and initial set-up
  • Cost segregation studies
  • Section 1031 Exchange assistance
  • Tax compliance and planning
  • Executive compensation studies and analysis
  • Ownership buyouts and capital account analysis
  • Various additional tax services

Additional Industry-Specific Services

  • Assistance with annual close, computation of surplus cash, distributions and residual receipts
  • Assistance with electronic HUD submissions and set-up (REAC/LEAP)
  • Assistance with electronic state submissions (NMLS)
  • Assistance with preparation of Schedule of Expenditures of Federal Awards (SEFA)
  • HUD compliance review and consultation
  • Financing alternatives and debt restructuring

Other Services

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© SBNG Certified Public Accountants 2021