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This entry was published on 2022-08-19
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Audit and annual reports
Public Housing (PBG) CHAPTER 44-A, ARTICLE 15
§ 646. Audit and annual reports. The trust shall have an internal
audit function and shall annually prepare and submit reports as required
by this section, provided that no report shall be required during the
earlier of the first year after the trust commences its operations or
one year and nine months after the effective date of this section.

1. Within one one hundred twenty days of the end of the city's fiscal
year, the trust shall submit to the mayor of the city, the recognized
citywide council of presidents, or an equivalent successor body, and the
NYCHA board a report on its operations during such fiscal year. An
annual audit of the trust shall be conducted by an independent certified
public accountant, and the trust's independently audited financial
statements shall be included in this report. The report shall also
detail the extent of completion of all projects for development, design,
construction, reconstruction, improvement, rehabilitation, repairing and
operation of housing facilities, including, by project, identified
shortfalls in schedule performance and providing explanation for such
shortfalls. Such report shall detail the extent of completion as existed
on the last day of the city's fiscal year. Such report shall also
include a description of each alternative project delivery contract,
information regarding the procurement process for each such alternative
project delivery contract including the list of responding entities that
demonstrated the general capability to perform such alternative project
delivery contract pursuant to paragraph (a) of subdivision one of
section six hundred thirty-four of this article, the total cost of each
alternative project delivery contract, an explanation of the estimated
savings attributable from the alternative project delivery contract
structure used, and the participation rate of and total dollar value of
monies paid to minority and women owned business enterprises under such
contract. Such report shall also include a description of the employment
and other economic opportunities directed to residents of the housing
facilities, such as reporting related to section three of the federal
housing and urban development act of nineteen hundred sixty-eight, as
amended, pursuant to subdivision three of section six hundred thirty-one
of this article. Such report shall also include (i) an assessment of the
effectiveness of internal controls, (ii) organization chart, (iii)
salary information for all employees, (iv) debt issuance information
(including outstanding debt and any new debt to be issued, costs of
issuance data, bonds redeemed), (v) certain summary financial
information, including receipts and disbursements, as well as assets and
liabilities, (vi) annual procurement report, (vii) investment of agency
funds information, (viii) information regarding the disposition of
tenant complaints, maintenance of apartments and facilities, and other
information pertaining to the rights of tenants to remain in their
apartment; and (ix) information regarding the level of outreach to, and
participation of, residents related to the trust. The trust shall
transmit the portion of such report relating to alternative project
delivery contracts to the governor, the temporary president of the
senate and the speaker of the assembly. Such report shall be made
publicly available.

2. On the last business day in November of each calendar year, the
trust shall submit a report describing its strategic planning framework
for the upcoming calendar year to the mayor of the city and to the NYCHA
board. Such report shall describe any capital improvements to be
undertaken and the approximate costs of such improvements and shall
provide information regarding operations, programs, and services of the
trust. The trust shall present a draft of this report at a meeting of
the board scheduled to occur no less than forty-five calendar days prior
to the last business day in November. The trust shall make such draft
available for public review no less than fifteen calendar days before
such meeting. The trust shall offer the public an opportunity to provide
oral comment on the report at such meeting and to submit written
comments to the trust until a specified date prior to the date on which
the report is finalized. The trust shall consider all comments received
during such period prior to finalizing the report required by this