Day: May 20, 2022

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Due for an Audit? Identify Issues Sooner Not Later

Surplus cash calculation and distribution is one of the most interesting parts of the financial statements of affordable housing entities. It determines the amount of residual cash available to make fees, distributions, ground leasing and deferred loan payments. Surplus cash distribution and the calculation itself are important to review during an audit because: Lenders, lessors,

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Update Your CTCAC Compliance Forms

The California Tax Credit Allocation Committee (CTCAC) has published updated versions of almost all forms for low-income housing tax credit (LIHTC) compliance. Owners and management agents have through December 31, 2022 to implement use of the new forms. The CTCAC will not accept use of modified or previously approved forms — or modifications or changes

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