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09/07/2023
Government Impact: Q3 2023
Federal lease accounting standard: Challenges for federal agencies
While the new lease accounting standard, SFFAS 54, Leases, was issued back in April of 2018, the deadline is now approaching for federal agencies to implement. All federal agencies are required to adopt SFFAS 54 for the periods beginning after Sept. 30, 2023 if leases are material to the agency. Learn more.
Want to learn even more about the federal lease accounting standard? Watch our on-demand webinar (Opens a new window).
Key CohnReznick Governmnet Advisory engagements
City of Atlanta
The City of Atlanta has engaged CohnReznick to develop and administer funding through the humanitarian portion of FEMA’s Emergency Food and Shelter Program (ESFP-H) from kickoff to closeout.
CohnReznick also supports the City of Atlanta by performing financial reconciliations, project management, application review, and environmental assessments of their annual entitlement grants from the U.S. Department of Housing and Urban Development (HUD). These are the Community Development Block Grant (CDBG); the Home Investment Partnership program (HOME); the Emergency Solutions Grant (ESG); and the Housing Opportunities for Persons with AIDS (HOPWA) program.
Louisiana Compliance, Monitoring, and Oversight Vendor of Choice
Since 2017, CohnReznick has supported the Louisiana Office of Community Development by providing QAQC services for a variety of federally-funded programs, totaling $2.93B, including CDBG-DR Homeowner Assistance and Small Business Loan, ERAP, and HAF programs.
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This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.