Press Release

CONTACT: | (212) 306-3322


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

NYCHA Award In Budgeting

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.


About New York City Housing Authority (NYCHA):
The New York City Housing Authority’s (NYCHA) mission is to increase opportunities for low- and moderate-income New Yorkers by providing safe, affordable housing and facilitating access to social and community services. To that end, NYCHA administers a Conventional Public Housing Program as well as a citywide Section 8 Leased Housing Program in rental apartments, together serving more than 600,000 New Yorkers. Learn more at and on Facebook, or follow us on Twitter, @NYCHA.

About Government Finance Officers Association (GFOA):
The Government Finance Officers Association (GFOA), founded in 1906, represents public finance officials throughout the United States and Canada. The association's more than 18,000 members are federal, state/provincial, and local finance officials deeply involved in planning, financing, and implementing thousands of governmental operations in each of their jurisdictions. The GFOA's mission is to enhance and promote the professional management of governmental financial resources by identifying, developing, and advancing fiscal strategies, policies, and practices for the public benefit.