HUD Training Sessions: Financial Management, Audit Basics, and Program Income Guidelines Financial Management I: Financial Management and Internal Controls
The purpose of this training is to provide participants with an orientation of the financial management systems necessary to achieve and maintain administrative capability in operating the Indian Housing Block Grant program. Participants will be provided with an overview of the financial and administrative requirements that pertain to the use of funds distributed to tribes and Tribally Designated Housing Entities (TDHEs) under the Native American Housing Assistance and Self-Determination Act (NAHASDA).
- Obtain an overview of GAAP, fund accounting, and how housing programs fits.
- Extend knowledge of accounting processes
- Understand basis of accounting and measurement.
- Review the sub ledgers for the balance sheet accounts, and why they are important.
- Review of normal adjusting entries for accounting typically needed for fiscal year end.
- Analyze financial statements prepared for GAAP presentation.
- Understand methods used to perform grant-based accounting and cost accounting.
- Learn and practice the methods used to track program and non-program income.
- Understand useful life requirements.
- Review preparation of the SF-425 and APR financial tables.
- Review of the audit process preparing for the A-133 audit.
- Learn techniques for financial monitoring and self-monitoring.
Who Should Attend
This training is targeted for any person who is responsible for the financial administration of housing program funds including financial managers, controllers, accountants, bookkeepers and accounting technicians. Managers and Directors who supervise these positions and wish to gain a better understanding of financial requirements are also encouraged to attend.