§ 646 — Audit and annual reports

§ 646. Audit and annual reports. The trust shall have an internal\naudit function and shall annually prepare and submit reports as required\nby this section, provided that no report shall be required during the\nearlier of the first year after the trust commences its operations or\none year and nine months after the effective date of this section.\n 1. Within one one hundred twenty days of the end of the city's fiscal\nyear, the trust shall submit to the mayor of the city, the recognized\ncitywide council of presidents, or an equivalent successor body, and the\nNYCHA board a report on its operations during such fiscal year. An\nannual audit of the trust shall be conducted by an independent certified\npublic accountant, and the trust's independently audited financial\nstatements shall be included in this report. The report shall also\ndetail the extent of completion of all projects for development, design,\nconstruction, reconstruction, improvement, rehabilitation, repairing and\noperation of housing facilities, including, by project, identified\nshortfalls in schedule performance and providing explanation for such\nshortfalls. Such report shall detail the extent of completion as existed\non the last day of the city's fiscal year. Such report shall also\ninclude a description of each alternative project delivery contract,\ninformation regarding the procurement process for each such alternative\nproject delivery contract including the list of responding entities that\ndemonstrated the general capability to perform such alternative project\ndelivery contract pursuant to paragraph (a) of subdivision one of\nsection six hundred thirty-four of this article, the total cost of each\nalternative project delivery contract, an explanation of the estimated\nsavings attributable from the alternative project delivery contract\nstructure used, and the participation rate of and total dollar value of\nmonies paid to minority and women owned business enterprises under such\ncontract. Such report shall also include a description of the employment\nand other economic opportunities directed to residents of the housing\nfacilities, such as reporting related to section three of the federal\nhousing and urban development act of nineteen hundred sixty-eight, as\namended, pursuant to subdivision three of section six hundred thirty-one\nof this article. Such report shall also include (i) an assessment of the\neffectiveness of internal controls, (ii) organization chart, (iii)\nsalary information for all employees, (iv) debt issuance information\n(including outstanding debt and any new debt to be issued, costs of\nissuance data, bonds redeemed), (v) certain summary financial\ninformation, including receipts and disbursements, as well as assets and\nliabilities, (vi) annual procurement report, (vii) investment of agency\nfunds information, (viii) information regarding the disposition of\ntenant complaints, maintenance of apartments and facilities, and other\ninformation pertaining to the rights of tenants to remain in their\napartment; and (ix) information regarding the level of outreach to, and\nparticipation of, residents related to the trust. The trust shall\ntransmit the portion of such report relating to alternative project\ndelivery contracts to the governor, the temporary president of the\nsenate and the speaker of the assembly. Such report shall be made\npublicly available.\n 2. On the last business day in November of each calendar year, the\ntrust shall submit a report describing its strategic planning framework\nfor the upcoming calendar year to the mayor of the city and to the NYCHA\nboard. Such report shall describe any capital improvements to be\nundertaken and the approximate costs of such improvements and shall\nprovide information regarding operations, programs, and services of the\ntrust. The trust shall present a draft of this report at a meeting of\nthe board scheduled to occur no less than forty-five calendar days prior\nto the last business day in November. The trust shall make such draft\navailable for public review no less than fifteen calendar days before\nsuch meeting. The trust shall offer the public an opportunity to provide\noral comment on the report at such meeting and to submit written\ncomments to the trust until a specified date prior to the date on which\nthe report is finalized. The trust shall consider all comments received\nduring such period prior to finalizing the report required by this\nsubdivision.\n