Affordable Housing |
Affordable Housing - Accounting, Audit & Tax
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.
Lori Ciarla, CPA
Lori Ciarla is a principal at Dermody, Burke & Brown, CPAs, LLC. Having over 25 years experience, she specializes in audit, accounting, and advisory services for not-for-profit and governmental organizations, as well as employee benefit plans. She leads the firm’s Employee Benefit Plan Audit Practice, overseeing the audits of many annual benefit plans, including single-employer, multi-employer, defined contribution, defined benefit, and health and welfare plans.
Area of Focus
As the firm’s designated lead for the AICPA’s Employee Benefit Plan Audit Quality Center, Lori plays a key role in ensuring audit quality and compliance within this critical sector. Lori co-leads the firm’s Affordable Housing Audit Practice, leveraging her experience in HUD auditing. She is also deeply involved with the firm’s employee recruitment program, helping to attract and retain top talent.
Education and Professional Certifications
Lori is a graduate of Le Moyne College and is a member of both 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 a member of the Not-for-Profit section of the AICPA. She currently serves on the Executive Committee as Treasurer and board member for Francis House. Previously she served on the board of the American Heart Association and is the former Treasurer of both the Carol M. Baldwin Breast Cancer Research Fund and Girls Incorporated.
Travis Smith, CPA, MBA
Travis Smith is an audit principal with Dermody, Burke & Brown, CPAs, LLC, with over 18 years of experience in auditing and accounting. Specializing in a diverse range of sectors, Travis leads audit engagements for not-for-profit organizations, foundations, and health and human service providers. His expertise extends to both technical and client service matters, and he is an active member of the firm’s Assurance Committee, where he focuses on enhancing service quality, addressing technical issues, and ensuring client satisfaction.
Education & Professional Certifications
Travis holds a bachelor’s and master’s Degree from the State University of New York at Oswego and is a member of both 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 AICPA’s the Not-for-Profit (NFP) Section. Travis serves as Treasurer on the Board of Directors and Finance Committee of Helio Health, Inc.
Carolyn Sturick, CPA, CITP, CEO
Carolyn S. Sturick, is theChief Executive Officer of Dermody, Burke & Brown, CPAs, LLC. As CEO, Carolyn focuses on setting the company’s future course through strategic growth, ensuring continued client success, and maintaining the personal relationships vital to a successful firm. With over 30 years of experience in the areas of consulting, auditing, and accounting services across various sectors, including manufacturing, family-owned businesses, and not-for-profits, she emphasizes the importance of maintaining personal relationships and a strong firm culture.
In addition to her leadership as CEO, Carolyn has extensive technical expertise and is a key member of the firm's Quality Assurance Committee. She also served as Chief Operating Officer for over a decade.
Education & Professional Certifications
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.