Accountants On Call for PHAs: What to Do When Your Finance Manager Leaves
There’s never a good time to lose your CFO/DOF/Finance Manager. Finance Managers handle everything from reporting requirements and audit cycles to coordinating the day-to-day activities of a PHA’s Finance Department. They are a valuable part of your management team, providing the information you want and need to make the right decisions for your agency, your staff and/or your tenants.
The departure of the Finance Manager leaves a gaping hole. Tasks that will go undone range from supervising the daily fiscal operations of the agency, including oversight of accounting, financial reporting, audits, budget administration, revenue collection, inventory management, payroll processing, non-profit tax returns and funds investing, to providing you with information and analysis for decision-making. Finance Managers also likely complete aPHA’s Operating Subsidy Calculation, and Unaudited and Audited FDS and tracks RNP on a monthly-basis, requesting HUD-held funds when needed. Depending on the size of your PHA, your Finance Manager also has a significant list of “Other Roles as Assigned.”
CONSEQUENTLY, it takes some time to find the right person. You want to find that person who is capable of not only heading your Finance Team but also being a leader in your Management Team.
Because your Finance Manager is so essential to the success of your PHA, perhaps your best strategy as you look for the right person is to use an Interim Finance Manager. Our Accountant On Call (AOC) service may be perfect for you. The AOC sets aside a number of hours for our experts to help, and you use as many (or as few) hours as you need while you search for your permanent Finance Manager.
Emphasys Consulting can help you “bridge that gap.” We provide fee accounting, audit/review support and other management consulting services to PHAs of all sizes, and our strength lies in our range of experience and depth of industry knowledge. Our team consists of focused, customer-sensitive professionals whose specialties include certified public accountants, IREM and NCHM certified managers and experts who understand the “what, why and how” of effective PHA management.
- We know and understand the complex rules and regulations of HUD.
- We know effective and efficient PHA operations and management.
- We know technology.
Perhaps short-term Accountant on Call help is just what you need in the interim. Contact us for a no-obligation assessment of your needs.