NYCHA Now

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NYCHA Now
May 2023 

NYCHA Continues Excellence in Financial Reporting  

Vincent Echavaria

For the 19th consecutive year, NYCHA has been recognized for excellence in financial reporting with a Certificate of Achievement from the Government Finance Officers Association of the United States and Canada (GFOA). The GFOA award was bestowed to the Authority for its comprehensive annual financial report for the fiscal year that ended December 31, 2021.  

The report was judged by an impartial panel on various rigorous standards, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate the financial story and motivate stakeholders to read the report. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.   

“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,” NYCHA Interim CEO Lisa Bova-Hiatt said. “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.” 

NYCHA Controller Jeffrey Lesnoy added, “We are very proud of the Finance team for all of its collective efforts in making this happen. Likewise, we extend recognition and appreciation to so many NYCHA employees throughout the organization who contributed to our success.” 

According to the GFOA, the Certificate of Achievement represents a significant accomplishment by a government and its management. The annual financial reports of awardees satisfy generally accepted accounting principles as well as applicable legal requirements.  

Under NYCHA’s Transformation Plan, developing and maintaining appropriate financial policies and procedures to manage working capital effectively and providing sound advice on the financial implications of Board decisions is a key focus of the Authority.  

Learn more about the GFOA award here.