U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Reed & Associates provides consulting services to assist HUD in the design,
development and implementation of automated financial systems to collect, analyze, store
and report on the annual financial status of its customers. Specifically, Reed &
Associates analyzes current HUD business processes, identifies key business functions,
documents business requirements for system design, assists HUD in analyzing key system
documentation during design and development, assists in User Acceptance Testing, and
ultimately assists HUD in implementation of these financial systems. Reed has assisted
HUD with the following systems designed to fulfill the requirements of the Uniform
Financial Reporting Standards (UFRS) as documented in 24 CFR Part 5.
- Financial Assessment Subsystem - Public Housing. Reed has been
assisting HUD's Real Estate
Assessment Center since the inception of this system. We are experts
in the accounting and reporting of financial data as required by this
system.
- Lender Assessment Subsystem - FHA-approved Title I and Title II
nonsupervised lenders must report annual financial statement and
recertification data using the Lender Assessment Subsystem (LASS) in accordance with
UFRS. Reed has been assisting HUD's Office of Lender Activities with the
design and implementation of this system since October 2001.
- Government National Mortgage Association (GNMA) - Contract Assessment
Reviews of Deloitte Touche & Lockheed Martin.
In addition, Reed & Associates has performed audits of construction
claims under the Hope VI program, has participated in the Resource
Estimation and Allocation Project (REAP) to recommend overall personnel
resources for HUD, and has analyzed and tested the Funds Control processes
at HUD to assure compliance with the Anti-Deficiency Act.
Reed & Associates has also conducted the HUD Billing Reviews to
review the accuracy of program level financial reporting under the Section
8 Housing Choices Vouchers program and the Low Rent Operating Subsidy
program by the PHAs. The financial reporting using the Section 8 HUD Form
HUD-52681 [1]and the Op Sub Form
HUD-52723 drive the subsidies made by HUD to PHAs and affect HUD's overall
erroneous payment reporting.
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