NYCHA Receives Certificate for Excellence in Financial Reporting from the Government Finance Officers Association

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FOR IMMEDIATE RELEASE: February 22, 2024
CONTACT: media@nycha.nyc.gov | (212) 306-3322

NYCHA Receives Certificate for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada for 20th Consecutive Year

The citation hailing NYCHA’s budgetary disclosures for the 2022 fiscal year is the highest form of recognition in governmental accounting and financial reporting

NEW YORK – On February 8, 2024, 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, 2022. The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and the citation marks the 20th consecutive 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, sustainable change to NYCHA’s governance and leadership structure, property management systems, and central support functions. NYCHA continues to work in support of the strategic plan’s key focuses, such as maintaining appropriate financial policies and procedures to manage working capital effectively and providing sound advice on the financial implications of Board decisions.

“In recent years, NYCHA has placed great emphasis on transparency and making transformative changes to our business practices, and we continue to do so,” said NYCHA Chief Executive Officer Lisa Bova-Hiatt. “Receiving the Certificate of Achievement for Excellence in Financial Reporting for the 20th year in a row is a testament to our ongoing dedication to best practices with regard to financial reporting, and we are honored to receive this prestigious national award once again.”

“NYCHA is proud to receive the Certificate of Achievement from the Government Finance Officers Association for the 20th consecutive year,” said NYCHA Chief Financial Officer and Executive Vice President of Finance Annika Lescott-Martinez. “NYCHA’s Financial Department has received the highest form of recognition in governmental accounting and financial reporting every year for two decades as a result of their exemplary work. It continues to be my honor and privilege to lead a team of expert staff who remain steadfast in their dedication to the transparency, timeliness, and accuracy of the Authority’s financial reporting.”

Over the last nine 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 2024 can be found here.

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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 1 in 17 New Yorkers, providing affordable housing to 528,105 authorized residents through public housing and Permanent Affordability Commitment Together (PACT) programs as well as Section 8 housing. NYCHA has 177,569 apartments in 2,411 buildings across 335 conventional public housing and PACT developments. In addition, NYCHA connects residents to critical programs and services from external and internal partners, with a focus on economic opportunity, youth, seniors, and social services. With a housing stock that spans all five boroughs, NYCHA is a city within a city.