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CLIENT:  DISTRICT OF COLUMBIA HOUSING FINANCE AGENCY

Country:  USA, Washington DC

Sector:  State, Local and Federal Government

Service:  Accounting/Management Consulting

Year:  2016 – On-going

Project:  Financial Advisory and CFO Services

 

Project Description: The District of Columbia Housing Finance Agency (DCHFA) was established in 1979 to stimulate and expand homeownership and rental housing opportunities in Washington, D.C. DCHFA accomplishes its mission by issuing housing mortgage revenue bonds that lower the homebuyers’ costs of purchasing homes and the developers’ costs of acquiring, constructing and rehabilitating rental housing. DCHFA’s multifamily housing program offers financing to create and preserve affordable multifamily rental housing throughout  the  District  of  Columba.  The  program  offers  private  for  profit  and  non-profit  developers low cost construction and permanent financing that supports the new construction, acquisition, and rehabilitation of rental housing to meet the demand of quality affordable housing for individuals and families throughout the city.

 

In April 2016, DCHFA hired a new Executive Director to lead the realms of the organization. The Executive Director (ED) conducted an initial high level assessment of financial and program operations, and determined that DCHFA’s books of accounts and general ledgers are not maintained at a level adequate to facilitate timely quarterly closing of the ledgers and preparation of financial statements for management and other stakeholders use for decision making. As a result of an initial high level assessment conducted by the new ED, IBS was engaged to provide a host of consulting services including:

 

  • Conduct a comprehensive Financial Operations Assessment;
  • Participate in the hiring of a CFO; and
  • Provide support  services related to maintenance  of  general ledgers, preparation  of financial statements, including: evaluation of a future automated financial solution and implementing improved business processes; and transition for new CFO

 

NAICS

541611 Admin Mgmt. & Gen. Mgmt. Consulting Services

541990 All Other Professional, Scientific & Technical Services

541211 Certified Public Accountants

541219 Other Accounting Services

541618 Other Mgmt. Consulting Services

541690 Other Scientific & Technical Consulting Services

561110 Office Admin Services

561499 All Other Bus. Support Services

611430 Prof. & Mgmt. Dev. Training

CERTIFICATIONS

Certified Small Disadvantaged Business (SBA-8a, DC, MD, VA, PA and NJ)

SBA 8(a) -  Program Code/Case Number is 307466.

Certified Minority Business Enterprise

CAGE : 6VUR3; DUNS: 078664340

DC OFFICE

1627 K St, NW, Suite 500

Washington, DC 20006

Tel: 202-609-8830

MD OFFICE

13201 14th Street

Bowie, MD  20715

Tel: 301-379-2196