Many CPA firms will help structure a deal for a developer only to disappear during the construction phase then re-appear at the end to perform a cost certification or the annual audit and tax returns.  We believe it is important for us to stay involved throughout the entire development process.  We call this process Development Monitoring.  Basically, we make sure you set up your accounting system properly, then you provide us either quarterly or with each construction draw, a copy of the draw, along with backup invoices, your accounting trial balance (we prefer QuickBooks but can work with any program) and your sources and uses schedule.  We take this information and organize it to ensure transactions are accounted for properly, that budgets are maintained, and that we have the necessary information to perform the cost certification.  This process results in 3 MAJOR benefits:

  1. We will understand the project better, which allows us to better prepare your audits, tax returns,or other professional services that you may need.
  1. We will be able to re-structure a deal sooner if there are budget overruns or construction delays.
  1. We have your information organized better so we can efficiently and effectively prepare the final cost certification.

A large equity contribution is usually based on receipt of the cost certification. With our Development Monitoring process, your cost certification will be prepared sooner. This will allow you to receive your equity sooner in order to pay down debt and save on financing costs.  Our typical turn-around time on a cost certification is 1 to 2 months, which is 1 to 4 months quicker than most of our competitors.