FOR IMMEDIATE RELEASE: August 15, 2016
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NYCHA AWARDED FOR EXCELLENCE IN BUDGETING
NYCHA’s Budget Recognized by the Government Finance Officers Association of the United States and Canada (GFOA) as an Excellent Example for Other Municipalities Throughout North America
NEW YORK–– The New York City Housing Authority’s current budget has received the highest form of recognition for budgeting from the Government Finance Officers Association of the United States and Canada (GFOA), which assigns ratings and awards based on nationally-recognized guidelines. The Distinguished Budget Presentation Award is given to entities whose budget serves as a policy document, financial plan, operations guide, and communications device – NYCHA won in all four categories for its Fiscal Year 2016 budget.
“This distinguished award is a recognition of NYCHA’s progress towards changing how we do business and becoming the landlord our residents deserve,” said NYCHA Chair and CEO Shola Olatoye. “As we continue the turnaround effort to protect and preserve public housing for this and the next generation, we recognize we are just beginning. We are committed to improving the quality of life for all who call NYCHA home and that starts by stewarding resources responsibly.”
NYCHA has seen funding streams from all levels of government shrink over the past few decades, requiring the Authority to come up with innovative solutions to protect and preserve public housing. Part of that solution is NextGeneration NYCHA, the Authority’s ten-year strategic plan to stabilize the financial crisis facing New York City’s public housing – a comprehensive turnaround effort to create safer, cleaner, and more connected communities. NextGen’s 15 targeted strategies support four principal goals: change the way NYCHA is funded; operate like a more modern, efficient landlord; (re)build existing public housing and new affordable housing; and engage residents in meaningful ways. This award is a recognition of NYCHA’s progress towards those goals.