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CLIENT:  U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT

Country:  USA, Washington DC

Sector:  State, Local and Federal Government

Service:  Accounting/Management Consulting

Year:  2016 – 2018

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

 

Project Description: The Department of Housing and Urban Development (HUD)/Office of Public and Indian Housing (PIH), responsible for ensuring safe, decent, and affordable housing, creates opportunities for residents' self-sufficiency and economic independence, and assures the fiscal integrity of all program participants. As part of this responsibility, the PIH requires the Public Housing Authorities (PHAs) to maintain certain insurance coverage as required under HUD Regulations at 24 CFR 965 Subpart B. The ACC sets forth general requirements for loss indemnification to be obtained by PHAs including qualified PHA-owned insurance entities. These requirements are intended to provide the minimum property/casualty insurance coverage needed to protect federal interest in PHA properties and operations. To ensure that the PHAs are compliant with HUD Regulations at 24 CFR 965 Subpart B, HUD contracted with IBS Management & Consultancy Services to assist it in assessing PHAs’ compliance with insurance requirements under the ACC. The overall objective of the project is to determine whether PHAs are in compliance with insurance requirements under the ACC, and then develop guidance that will be used by PHAs to ensure that they comply with ACC insurance requirements. Tasks under the contract include:

 

  • 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)
  • Reviewing ten sets of the following submissions by Insurance Pools: financial statements, and actuarial studies
  • Providing training to staff of Financial Management Division (FMD)
  • Assessing PHAs Compliance with insurance requirements under the ACC

 

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