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Affordable Housing

In the ever changing, government regulated environment of the U.S. Department of Housing & Urban Development (HUD), it is important to work with professionals who are knowledgeable in this area. The Dermody, Burke & Brown (DB&B) Affordable Housing services team is not only knowledgeable in this complex area, but also very active in organizations that promote the development and management of government assisted multi-family housing programs. We are members of the Affordable Housing Association of CPAs.

Our team possesses in-depth knowledge of the special issues facing the affordable housing industry, including various state/federal processes and requirements for HUD audits.

We work with many affordable housing entities that are involved with the IRC Section 42 Housing Tax Credit program.  We perform cost-certifications required by the New York Housing Finance Agency and annual audits that are required by various Low-Income Housing Tax Credits (LIHTC) syndicators and investor-limited partners that provide funding for the development of these affordable housing programs.  

DB&B has been providing services to the affordable housing industry for over 60 years.  The Firm has a highly experienced team of professionals dedicated to the affordable housing industry.   We understand the dynamics and complexities of issues that the affordable housing industry is faced with.  Our extensive experience and in-depth knowledge of the industry positions us as our client’s most trusted advisor---all year round.  Should an issue arise, our firm is also a member of Allinial Global which allows our team to tap into the wealth of knowledge of other top accounting practices with affordable housing experience.

Our Affordable Housing Services Include:

Audited Financial Statements
  • Rural Development (RD)
  • Housing and Urban Development (HUD)
  • IRC Section 42 (LIHTC)
Filings
  • REAC Filings
  • SF-SAC Filings
  • Tax Return Filings
Cost Certifications
Eployee Lising

For more information email info@dbbllc.com or call 315-471-9171 to contact:

Lori Ciarla, CPA
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Lori Ciarla, CPA

Lori joined the Firm in 1992 and specializes in audit, accounting, and advisory services for not-for-profit and governmental organizations, and employee benefit plans.  She oversees the Firm’s employee benefit plan audit practice and is responsible for the audits of more than fifty annual benefit plans, including single employer, multiple employer, defined contribution, defined benefit, and health and welfare plans. Lori serves as the Firm’s designated audit quality partner of the AICPA’s Employee Benefit Audit Quality Center.  She has extensive experience in HUD auditing and is the co-leader of the Firm’s affordable housing audit practice. Lori is also actively involved in the Firm’s employee recruitment program. 

Lori is a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA).  She received the AICPA Not-for-Profit Certificate I and is also a member of the Not-for-Profit section of the AICPA.  Lori is a graduate of Le Moyne College and currently serves on the Finance Committee for Francis House. Lori has served on the board of the American Heart Association and is a past Treasurer of both the Carol M. Baldwin Breast Cancer Research Fund of CNY, Inc. and Girls Incorporated.

David de Silva, CPA
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David de Silva, CPA

David has over thirty-nine years of experience providing accounting, auditing, and consulting services to a wide range of organizations. He currently leads Dermody, Burke & Brown’s Not-for-Profit specialty niche that serves over 100 organizations in Central New York. The Not-for-Profit specialty niche provides services to a variety of not-for-profit organizations, including fine arts, foundations, human service providers, health care organizations and facilities, assistive living facilities, low-income subsidized senior and family housing developments, and low-income tax credit housing developments. He has extensive experience in consulting and advising his clients on a variety of issues, including internal control analysis and recommendations.

David is a graduate of LeMoyne College. He is a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA).  David received the AICPA certificate of achievement in governmental and nonprofit accounting and auditing.  He is also a member of the Not-for-Profit section of the AICPA and serves as the Firm’s designated audit quality partner of the AICPA’s Governmental Audit Quality Center. David has also been active as a member of the Allinial Global Not-for-Profit Committee.

David served for ten years on the New York State Board for Public Accountancy. He served two years as vice-chairman and two years as chairman of the Board. The New York State Board for Public Accountancy advises the New York State Board of Regents and Education Department on licensing requirements, licensing examinations, and practice issues. He continues to serve on the Extended Board of the New York State Board for Public Accountancy which assists the Board with the licensure disciplinary and/or restoration and moral character proceedings. Additionally, he serves on the State Board Committee of the AICPA Board of Examiners and was recently appointed chairman of the State Board Committee. The State Board Committee serves as a communications liaison between NASBA and the AICPA. The Board of Examiners is a senior committee of the AICPA responsible for the oversight, administration and development of the CPA Exam.

David served a number of years on the Uniform Accountancy Act (UAA) Committee of the National Association of State Boards of Accountancy (NASBA). The UAA is an “evergreen” model licensing law developed to provide a uniform approach to regulation of the accounting profession. The UAA Committee oversees the UAA and related Model Rules and recommend amendments to the Board of Directors of NASBA and the AICPA. David also served a number of years on NASBA’s Education Committee.

David has served as a Trustee and Treasurer of The Century Club of Syracuse and currently as a House Committee member. He is a member of the Rotary Club of Syracuse and a Trustee of its related Foundation. Dave was a founding board member and Treasurer of ProLiteracy Worldwide that has over 1000 member programs in the U.S. and 25 countries around the world. He is a past Trustee of Crouse Hospital Health Foundation, past board member and Finance Committee chairman of the Syracuse Symphony Orchestra, and past board member of Girls Inc. (former Girls Club of Syracuse).

Travis Smith, CPA
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Travis Smith, CPA

Travis has been with Dermody, Burke & Brown for over thirteen years providing services to variety of not-for-profit organizations, including foundations, human service providers, and health care organizations. He has extensive experience in consulting and advising his clients on a variety of issues, including Low-Income Housing Tax Credit projects.

Travis holds a Bachelor and Master Degree from the State University of New York at Oswego.  He is a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA). He is also a member of the Not-for-Profit section of the AICPA and serves on the board of directors for Helio Health, Inc.  

Carolyn Sturick, CPA, CITP, COO
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Carolyn Sturick, CPA, CITP, COO

Carolyn joined Dermody, Burke & Brown in 1989 and became the Firm’s Chief Operating Officer in 2009.  Carolyn focuses on client service and satisfaction.  She ensures the smooth operation of daily Firm business including meeting deadlines, setting performance goals for employees and assessing and implementing operating policies for the Firm.  Beyond her position as Chief Operating Officer, Carolyn brings over thirty years of experience in the areas of consulting, auditing and accounting to a wide range of not-for-profit clients and those requiring federal single audits. She is a strong resource within the Firm for technical issues and serves on the Quality Assurance Committee. 

Carolyn also has served as Treasurer of a local not-for-profit organization, East Syracuse Minoa Education Foundation, and has many years of involvement in the Festival of Races. Carolyn is a graduate of SUNY Oswego.  Carolyn is a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA) is also credentialed by the AICPA as a Certified Information Technology Professional.

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