Review and Analysis of LIHTC Partnership Audited Financial Statements - a Seasoned Tax Credit Asset Manager’s Perspective

LEARNING AREA: Real Estate Development
Nov. 2021
Partner Events
Birch Island Real Estate Consulting


1 hour 30 minutes




'Tax and audit season' for fiscal year 12/31 tax credit partnerships is just around the corner.

​Annually, multifamily housing owners, asset managers and other stakeholders devote hundreds of hours reviewing and analyzing audited financial statements with several key objectives in mind:

  • Confirm compliance with partnership agreement requirements; 
  • Evaluate project operating performance versus budget and or original underwriting; and 
  • Flag areas of concern for follow up and resolution in an audit action plan, if necessary.

Buried among the details in every audit is a story waiting to be told. So, if your job responsibilities include oversight of multifamily housing projects and you have limited experience reviewing audited financials, then this webcast is for you. Join seasoned asset manager Vinnie Viola for a 90-minute interactive webcast that digs into the audited financials for a fictitious 50-unit tax credit project known as W. Montgomery, Limited Partnership. From an end-user perspective, the training will cover the typical audit sections: balance sheet, statement of income, statement of partners' equity and statement of cash flows and accompanying notes. As a bonus, Vinnie will demonstrate a basic audit review checklist that computes, among other metrics, net cash flow per unit, debt coverage ratio and economic occupancy; paid attendees will receive a complimentary copy of this Excel spreadsheet the day before the webcast airs, along with a PDF handout of the training slides.

Is This Training For Me? 
This training is not about debits and credits or GAAP principles; the trainer is not a CPA. Rather, this introductory-level webcast is ideal for multifamily professionals that need to understand how to read audited financial statements through what Vinnie calls the "end-user lens":

  • Asset managers
  • Asset management analysts
  • General partners & developers
  • Housing agency staff
  • Project funders
  • Property management staff that report out to project stakeholders
  • Non-Profit board members
  • Others interested in learning about the basics of audited financials

Registration fee