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Audited Financial Statements Handbook

The California Department of Housing and Community Development (HCD) and the California Housing Finance Agency (CalHFA) have revised (September 2016) the joint Audited Financial Statements Handbook for projects administered under both Departments either jointly or individually. Audits submitted to HCD or CalHFA must adhere to this joint Audited Financial Statements Handbook. HCD and CalHFA have been coordinating selected administrative functions such as the joint Audited Financial Statements Handbook to improve the State's ability to serve and coordinate housing needs and to achieve administrative efficiencies.

Nonsection 8 Contract Administration

Annual Audited Financial Statement

The California Department of Housing and Community Development (HCD) and the California Housing Finance Agency (CalHFA) have launched a joint Audited Financial Statements Handbook for projects administered under both Departments either jointly or individually. Audits submitted to HCD or CalHFA after July 1, 2013 must adhere to this joint Audited Financial Statements Handbook. Audits are still required to be submitted to both HCD and CalHFA for jointly funded projects and to the respective department for individually funded projects.

HCD and CalHFA are coordinating selected administrative functions such as the joint Audited Financial Statements Handbook to improve the State's ability to serve and coordinate housing needs and to achieve administrative efficiencies.

Since Audits will now contain the essential information previously reported on HCD Annual Report forms AMC 180, 181 and 182, HCD funded projects required to submit Audits will no longer be required to submit these forms. HCD projects not required to submit Audits will still be required to submit these forms to HCD. Refer to the HCD website for updates. Audits (except for project-based HUD Section 8 contracts administered by CalHFA) must now report the Distribution of Operating Cash Flow/Surplus Cash identically for both HCD and CalHFA (see Audited Financial Statements Handbook pages A-26 & A-27). Please share this information with associated parties.

Submission

The AFS and the signed owner and management agent certification, can be mailed by US mail or emailed in PDF format to the assigned CalHFA Asset Manager.

Mailing Address

Sacramento Office
CalHFA
P.O. Box 4034 MS 1430
Sacramento, CA 95812-4034
Attn: Assigned Asset Manager

Culver City Office
CalHFA
100 Corporate Pointe, Ste. 250
Culver City, CA 90230
Attn: Assigned Asset Manager

Online Submission

Access CalHFA's Web Compliance Management System (WCMS) to submit the Statement of Operations information from the Audited Financial Statements.

First time users must complete a registration form. Once approved, an email notification will be sent to the requester to access WCMS.