Webcast: Review & Analysis of LIHTC Partnership Audited Financial Statements


December 3, 2019
2:00pm - 3:30pm EST


Vinnie Viola, Principal, Birch Island Real Estate Consulting, LLC

Review & Analysis of LIHTC Partnership Audited Financial Statements - A Tax Credit Asset Manager's Perspective 2nd Edition

About This Webcast

'Tax and audit season' for FY 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 by the reviewer. 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 Vinnie Viola for a 90-minute interactive webcast that digs into the audit for a fictitious 50-unit tax credit project know as San Pedro Villas, LP. From an end-user perspective, the training will cover the typical audit components: balance sheet, statement of income, statement of partners' equity and statement of cash flows and accompanying notes pages. Lastly, Vinnie will demo his audit review checklist that computes, among other metrics, net cash flow per unit, debt coverage ratio and economic occupancy.

Is This Training For Me? 

This training is not about debits and credits or GAAP principles. 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

​About the Presenter 

Vinnie Viola, MPA, HCCP, is Principal and Founder of Birch Island Real Estate Consulting, LLC. His company provides asset management consulting services and web-based and private trainings to owners, developers, operators and investors of multifamily housing funded with LIHTC equity. With over 25 years’ experience, Vinnie has worked in for-profit, government and not-for-profit organizations that invest in, manage and regulate affordable housing. His career includes ten years in various leadership roles at Boston Financial Investment Management and Boston Capital, through which he gained expertise with asset management best practices. In these roles, Vinnie participated in hundreds of investment committee meetings for prospective tax credit investments. He proactively managed thousands of rental units in hundreds of investment partnerships, comprising over $1 billion in investor contributed equity. Vinnie received his Bachelor of Arts in Geography with concentration in urban planning from the University of Massachusetts Boston and Master of Public Affairs from the University of Texas Dallas.

​​Please contact Vinnie at or 617-905-6340 with any questions about this training or your registration.

Registration fee: 


Type of event: 

Partner Events

Learning area: 

Real Estate Development


Birch Island Real Estate Consulting, LLC