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FOR IMMEDIATE RELEASE: May 12, 2023
CONTACT: media@nycha.nyc.gov I (212) 306-3322

NYCHA Receives Certificate For Excellence In Financial Reporting From The Government Finance Officers Association Of The United States And Canada For 19th Consecutive Year

The citation hailing NYCHA’s budgetary disclosures for the 2021 fiscal year is the highest form of recognition in governmental accounting and financial reporting

NEW YORK – On April 27, the Government Finance Officers Association (GFOA) of the United States and Canada awarded the New York City Housing Authority (NYCHA) with a Certificate of Achievement for Excellence in Financial Reporting for its annual comprehensive financial report for the fiscal year that ended on December 31, 2021. The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and the citation marks the 19th straight year that NYCHA has been recognized by the impartial panel for meeting the program’s high standards and demonstrating a constructive "spirit of full disclosure" to communicate its financial story – motivating potential users and user groups to read the report.

In March 2021, NYCHA released its Transformation Plan, a vision for significant yet sustainable change to NYCHA’s governance and leadership structure, property management systems, and central support functions. Key focuses of this strategic plan included developing and maintaining appropriate financial policies and procedures to manage working capital effectively and providing sound advice on the financial implications of Board decisions.

“NYCHA remains steadfast in our pledge to improve and strengthen our organization across many key areas, with financial transparency and accountability going hand in hand with these efforts,” said NYCHA Interim CEO Lisa Bova-Hiatt. “Receiving the Certificate of Achievement for Excellence in Financial Reporting for the 19th year in a row illustrates our ongoing dedication to this work, and we are honored to be recognized once again with this prestigious national award.”

“For 19 consecutive years, NYCHA has been honored to receive the Certificate of Achievement - the highest form of recognition in governmental accounting and financial reporting,” said NYCHA Chief Financial Officer and Executive Vice President of Finance Annika Lescott-Martinez. “To be recognized in this way for nearly two decades by the Government Finance Officers Association denotes the hard work, integrity, and dedication of NYCHA’s Finance Department. I am pleased to lead this team to continued excellence.”

Over the last eight years, the Authority has focused a significant portion of its technology investment on new tools and programs designed to improve information access to NYCHA’s financial picture, resident engagement tools, and customer service. All NYCHA Board meetings are open to the public, streamed live, and available on NYCHA’s YouTube channel. Video of the most recent Board meeting, as well as Board resolutions and minutes, are posted for public review on NYCHA’s website.

NYCHA is also required by law to publicly report its Annual Public Housing Agency Plan and Significant Amendments. These executive summaries are provided in English, Spanish, Chinese, and Russian. Public hearings for the Annual Plan and amendments are broadcast live on NYCHA’s website and featured on NYCHA’s YouTube channel.

More information on NYCHA’s Annual Plan and other financial information can be found here, and the Annual Plan for Fiscal Year 2023 can be found here.

About the New York City Housing Authority (NYCHA)

The New York City Housing Authority (NYCHA), the largest public housing authority in North America, was created in 1935 to provide decent, affordable housing for low- and moderate-income New Yorkers. NYCHA is home to roughly 1 in 16 New Yorkers across over 177,000 apartments within 335 housing developments. NYCHA serves over 339,000 residents through the conventional public housing program (Section 9), over 29,000 residents at developments that have been converted to PACT/RAD, and over 92,000 families through federal rent subsidies (the Section 8 Leased Housing Program). In addition, NYCHA connects residents to opportunities in financial empowerment, business development, career advancement, and educational programs. With a housing stock that spans all five boroughs, NYCHA is a city within a city.