Re: [External] Recent FHA Project Approval?
From: Janet Boys (jboystemple.edu)
Date: Mon, 24 Aug 2020 17:19:40 -0700 (PDT)
I'm sorry that I do not know FHA requirements. But I am guessing that a
double entry accounting system would be required. It is the standard for
accounting. Ordinary taxpayers use cash basis. Businesses use accrual
basis. Good luck.
Janet Boys
Aria Cohousing Community

On Mon, Aug 24, 2020 at 4:54 PM lamaiacoleman--- via Cohousing-L <
cohousing-l [at] cohousing.org> wrote:

> At Southside Park Cohousing in Sacramento, CA, we are trying to obtain FHA
> project approval so that members can access reverse mortgages and buyers
> can get FHA loans.  We've run into problems on a couple of grounds, with
> our accounting being one of them.  We use single entry, cash basis
> accounting. We're trying to figure out if we moving to a double entry,
> accrual basis is required or if a lower bar fix will work.
> For coho's with recent FHA approvals, do you use cash basis or accrual
> basis accounting?  Also, do you use single or double entry?Finally, does
> anyone happen to know the charge directly from HUD for FHA approval and /
> or re-approving?Thanks!Lamaia Coleman
> _________________________________________________________________
> Cohousing-L mailing list -- Unsubscribe, archives and other info at:
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>
>
>
>

-- 
Janet Boys
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  • Recent FHA Project Approval? lamaiacoleman [at] yahoo.com, August 24 2020
    • Re: [External] Recent FHA Project Approval? Janet Boys, August 24 2020

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