Updated March 2024
[Letterhead of Firm]
INDEPENDENT ACCOUNTANT'S REPORT FOR NATIONAL HOUSING TRUST FUND (NHTF) 
FINAL COST CERTIFICATION
Instructions: Fill in the information in red. Change all text to black, remove instructions, remove updated date, remove Minnesota Housing logo and print on your letterhead. Upload a completed and signed copy to the Post-Construction Due Diligence checklist in the Multifamily Customer Portal.
Minnesota Housing Finance Agency
400 Wabasha St. N
Suite 400 
St. Paul, MN 55102
[Month 00, 20XX]

[Name of Ownership Entity]
[Address]
[City, State ZIP code]

RE: 	[Name of Location of Project]
[Minnesota Housing D#]
To Whom It May Concern,
We have audited the accompanying final cost certification of [name of ownership entity] (owner) pertaining to the development of [project name] (project), which comprises the Development Costs tab of the Multifamily Workbook as of [date].
Management’s Responsibility for the Final Cost Certification
Management is responsible for the preparation and fair presentation of this final cost certification in accordance with the accounting and reporting practices relating to the National Housing Trust Fund (NHTF) Program as prescribed by 24 CFR Part 93 and the Minnesota Housing Finance Agency; this includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of a final cost certification that is free from material misstatement, whether due to fraud or error.
Accountant’s Responsibility
Our responsibility is to express an opinion on the final cost certification based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the final cost certification is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the final cost certification. The procedures selected depend on the accountant’s judgment, including the assessment of the risks of material misstatement of the final cost certification, whether due to fraud or error. In making those risk assessments, the accountant considers internal control relevant to the entity’s preparation and fair presentation of the final cost certification in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used, the reasonableness of significant accounting estimates made by management and the overall presentation of the final cost certification.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the final cost certification referred to above presents fairly, in all material respects, the actual project costs of [name of ownership entity] pertaining to the development of [project name] as of [date], in accordance with accounting and reporting practices referred to above.
Other Matters
We have no financial interest in the owner other than in the practice of our profession.
Restriction on Use
This report is intended solely for the information and use of [name of ownership entity] and the Minnesota Housing Finance Agency and is not intended to be and should not be used by anyone other than these specified parties.
	     
Accountant Signature	Date
     	     
Name of Signatory (typed or printed)	Independent Accounting Firm (name)

FINAL COST CERTIFICATION – Attach Development Costs Tab of Multifamily Workbook
I certify that the information contained herein is accurate, and I authorize Minnesota Housing to utilize this information to calculate the eligible NHTF costs of the Project.
	IN WITNESS WHEREOF, the undersigned has caused this document to be duly executed in its name on this      day of      ,      .
		     
Print or Type Name of Ownership Entity
By:	 
Signature
Its:      
Print or Type Title of Managing General Partner
		     
		Print or Type Name of Signatory
STATE OF MINNESOTA	)
	)
COUNTY OF      	)
	The foregoing instrument was acknowledged before me this       day of      ,      ,
by      .
	Print Name of Owner’s Signatory
	
Notary Public