Trainer: Debbie Piltch, Piltch Associates
IMPORTANT Requirement: Please bring a sample tenant file and calculator with you.
LIHTC File Audit
The course will begin with an overview of the timing of a monitoring agency’s tax credit file audit, the information they will be looking to confirm in the files, the information monitors will request prior to the audit. We will also discuss how to review standard documents contained in a file to make sure there are no errors, how to correct non-compliance and the type of information the monitor will request of the site prior to coming and/or on the day of the site visit. We will then review a mock file to go over the types of errors a monitor may find in a file and provide participants an opportunity to self-monitor the file(s) they bring. Please make sure that the sample file you bring has no confidential information (i,e, social security numbers, bank numbers….) pertaining to the household.
Emphasis will be placed on issues that monitoring agencies often focus on, including incomplete applications, recertification updates, inadequate child support documentation, inaccurate income calculations, inconsistencies within a verification, failure to maximize anticipated income, late verifications and TICs signed after leases.