Quarterly Reporting

Once a property has begun leasing, NNEHIF Asset Management receives operational data on each property on an ongoing, quarterly basis. The reporting requirements show which financial and leasing reports are required. Quarterly reports are due 30 days after the end of each quarter:

Quarter Quarter End Date Date Reports due to NNEHIF
First March 31 April 30
Second June 30 July 30
Third September 30 October 30
Fourth December 31 January 30

Please complete the Operations Quarterly Questionnaire, which is different from the Development Quarterly Questionnaire and send it along with the other operational data to NNEHIF Asset Management.

Reporting Requirements

Within 30 days after calendar quarter end unaudited Quarterly Financial Reports for
preceding quarter to include:

  • Quarterly Questionnaire certified by General Partner
  • Balance sheet and income & expense statement (accrual based)
  • Accounts payable and accounts receivable aging reports
  • Quarter-end rent roll
  • Occupancy Status Report
  • Accounting for restricted reserves deposits, withdrawals and balances (detailed by type of reserve: copy of bank statement is acceptable). NNEHIF does not need to receive copies of operating account or security account bank statements.
  • Other Development information as may be requested
  • Proof of payment of real estate taxes and renewal of property insurance, preferably by anniversary date of tax cycle and policy term.
  • Copies of any reviews and site inspection reports by state HFA or first mortgage lender conducted in current year
  • Copies of any notice of default or findings of non-compliance, including IRS Form 8823 , and any notice of pending IRS audit or recapture of tax credits.