CLIENT: US DEPARTMENT OF HOUSING & URBAN DEVELOPMENT

Country:  USA, Washington DC

Sector:  State, Local and Federal Government

Service:  Accounting/Management Consulting

Project:  Public Housing Authorities (PHAs) Financial Statements Review and Insurance Requirements Assessment under the Consolidated Annual Contributions Contract (ACC)

Project Description: To ensure that PHAs are compliant with HUD Regulations at 24 CFR 965 Subpart B, HUD contracted with IBS to assess PHAs’ compliance with insurance requirements under the Consolidated Annual Contributions Contract (ACC). The overall objective of the project is to determine whether PHAs are compliant with insurance requirements under the ACC and develop guidance that will be used by PHAs to ensure compliance with ACC insurance requirements. Tasks under the contract  include:

1. Reviewing HUD's Insurance requirements under 24 CFR 965 and compare with industry norms; and issue recommendations to HUD (that include other insurance options–costs and benefits for each option).
2. Reviewing ten sets of the following submissions by Insurance Pools: financial statements, and actuarial studies. 
3. Providing training to staff of Financial Management Division (FMD).
4. Assessing PHAs Compliance with insurance requirements under the ACC.