CROSSWALK GUIDE - HUD

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Financial Data Schedule Line Definitions and Crosswalk Guide ACCOUNTING AND REPORTING STANDARDS This guide was created based on information gathered from various generally accepted accounting principles (GAAP) references as well as from reference to HUD’s Low-Rent Housing Accounting Handbook. The governmental accounting and reporting standards summarized in the posting guide and appendix are based on the following pronouncements: ASSETS • NCGA-1, Governmental Accounting and Financial Reporting Principles • NCGA-2, Grant, Entitlement, and Shared Revenue Accounting by State and Local Governments • GASB-3, Deposits with Financial Institutions, Investments and Reverse Repurchase Agreements • GASB-31, Accounting and Financial Reporting for Certain Investments and for external Investment Pools • GASB, Codification Section G60.116 LIABILITIES • NCGA-1, Governmental Accounting and Financial Reporting Principles • NCGA Interpretation No. 4, Accounting and Financial Reporting Principles for Claims and Judgments and Compensated Absences • NCGA Interpretation No. 9, Certain Fund Classifications and Balance Sheet Accounts • GASB-13, Accounting for Operating Leases with Scheduled Rent Increases • GASB-16, Accounting for Compensated Absences • GASB-23, Accounting and Financial Reporting for Refundings of Debt reported by Proprietary Activities • GASB-27, Accounting for Pensions by State and Local Governmental Employers • GASB Interpretation No. 2, Disclosure of Conduit Debt Obligations • SFAS-5, Accounting for Contingencies REVENUE • GASB-24, Accounting and Financial Reporting for Certain Grants and Other Financial Assistance • NCGA-1, Governmental Accounting and Financial Reporting Principles • NCGA-2, Grant, Entitlement, and Shared Revenue Accounting by State and Local Governments EXPENDITURES • NCGA-1, Governmental Accounting and Financial Reporting Principles REAL ESTATE ASSESSMENT CENTER 6
Financial Data Schedule Line Definitions and Crosswalk Guide FDS DEFINITIONS AND CROSSWALK: USING THIS GUIDE The following line definitions summarize the information to be reported on each line of the FDS and provide general guidance on determining the source of the information through the use of a crosswalk. The definitions and crosswalk are arranged in the order they appear on the FDS included in the HUD PHA GAAP Conversion Guide and as they will appear in the HUD Real Estate Assessment Center (REAC) Financial Assessment Subsystem (FASS). IMPORTANT: The following definition of each FDS line should be used to properly identify the information to be reported. The following crosswalk assumes the PHA has implemented the HUD standard chart of accounts and definitions as described in U.S. Department of Housing and Urban Development, Public and Indian Housing, Low-Rent Housing Accounting Handbook 7510.1 (including changes identified in the sample chart of accounts per the HUD PHA GAAP Conversion Guide) and the Low-Rent Housing Accounting Guide, 7511.1. PHAs that have modified the HUD prescribed chart of accounts, implemented variations of each of the numbering system or definitions, or have developed independent charts of account should rely on the line item definitions to determine the required content of each FDS line. REAL ESTATE ASSESSMENT CENTER 7
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