2023 New York Laws › PBG - Public Housing › Article 15 - New York City Public Housing Preservation Trust › 646 - Audit and Annual Reports.

§  646.  Audit  and  annual  reports. The trust shall have an internal
  audit function and shall annually prepare and submit reports as required
  by this section, provided that no report shall be  required  during  the
  earlier  of  the  first year after the trust commences its operations or
  one year and nine months after the effective date of this section.
1. Within one one hundred twenty days of the end of the city's  fiscal
  year,  the  trust  shall submit to the mayor of the city, the recognized
  citywide council of presidents, or an equivalent successor body, and the
  NYCHA board a report on its  operations  during  such  fiscal  year.  An
  annual audit of the trust shall be conducted by an independent certified
  public  accountant,  and  the  trust's  independently  audited financial
  statements shall be included in  this  report.  The  report  shall  also
  detail the extent of completion of all projects for development, design,
  construction, reconstruction, improvement, rehabilitation, repairing and
  operation  of  housing  facilities,  including,  by  project, identified
  shortfalls in schedule performance and providing  explanation  for  such
  shortfalls. Such report shall detail the extent of completion as existed
  on  the  last  day  of  the  city's  fiscal year. Such report shall also
  include a description of each  alternative  project  delivery  contract,
  information  regarding the procurement process for each such alternative
  project delivery contract including the list of responding entities that
  demonstrated the general capability to perform such alternative  project
  delivery  contract  pursuant  to  paragraph  (a)  of  subdivision one of
  section six hundred thirty-four of this article, the total cost of  each
  alternative  project  delivery contract, an explanation of the estimated
  savings attributable from  the  alternative  project  delivery  contract
  structure  used, and the participation rate of and total dollar value of
  monies paid to minority and women owned business enterprises under  such
  contract. Such report shall also include a description of the employment
  and  other  economic  opportunities directed to residents of the housing
  facilities, such as reporting related to section three  of  the  federal
  housing  and  urban  development act of nineteen hundred sixty-eight, as
  amended, pursuant to subdivision three of section six hundred thirty-one
  of this article. Such report shall also include (i) an assessment of the
  effectiveness of  internal  controls,  (ii)  organization  chart,  (iii)
  salary  information  for  all  employees, (iv) debt issuance information
  (including outstanding debt and any new debt  to  be  issued,  costs  of
  issuance   data,   bonds   redeemed),   (v)  certain  summary  financial
  information, including receipts and disbursements, as well as assets and
  liabilities, (vi) annual procurement report, (vii) investment of  agency
  funds  information,  (viii)  information  regarding  the  disposition of
  tenant complaints, maintenance of apartments and facilities,  and  other
  information  pertaining  to  the  rights  of  tenants to remain in their
  apartment; and (ix) information regarding the level of outreach to,  and
  participation  of,  residents  related  to  the  trust.  The trust shall
  transmit the portion of such  report  relating  to  alternative  project
  delivery  contracts  to  the  governor,  the  temporary president of the
  senate and the speaker of  the  assembly.  Such  report  shall  be  made
  publicly available.
2.  On  the  last  business day in November of each calendar year, the
  trust shall submit a report describing its strategic planning  framework
  for the upcoming calendar year to the mayor of the city and to the NYCHA
  board.  Such  report  shall  describe  any  capital  improvements  to be
  undertaken and the approximate costs  of  such  improvements  and  shall
  provide  information regarding operations, programs, and services of the
  trust. The trust shall present a draft of this report at  a  meeting  of
  the board scheduled to occur no less than forty-five calendar days prior
  to  the  last  business day in November. The trust shall make such draft

  available for public review no less than fifteen  calendar  days  before
  such meeting. The trust shall offer the public an opportunity to provide
  oral  comment  on  the  report  at  such  meeting  and to submit written
  comments  to the trust until a specified date prior to the date on which
  the report is finalized. The trust shall consider all comments  received
  during  such  period  prior  to  finalizing  the report required by this
  subdivision.