title
Authorization to accept and submit to HUD CHA’s Financial Statement Audit and Annual Comprehensive Financial Report for the year ended December 31, 2025.
presenter
Presenter: David Zimmer, Interim Chief Financial Officer
end
Recommendation
It is recommended that the Board of Commissioners (“Board”) accept the attached Financial Statement Audit and Annual Comprehensive Financial Report for the year ended December 31, 2025 and authorize the Chief Executive Officer or his designee to submit such documents to the United States Department of Housing and Urban Development (HUD) and to the Government Finance Officers Association, to be considered for award of excellence in financial reporting.
The Interim Chief Financial Officer has completed all necessary due diligence to support the submission of this initiative and recommends the approval of this item accordingly.
Background
HUD requires public housing authorities to annually publish a complete set of financial statements presented in conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards by a firm of licensed, certified public accountants.
In addition, the Authority anticipates applying for Government Finance Officers Association certificate of achievement for excellence in financial reporting program, which the Authority had in the past received for twenty-seven prior fiscal years. To apply for the award, the Authority is required to publish an easily readable, efficiently organized and audited annual comprehensive financial report.
For the year ended 2025, the Authority engaged Ernst & Young to audit its results and issue the Annual Comprehensive Financial Report in accordance with HUD requirements. The Authority is required to submit the Financial Statement Audit and Financial Report to HUD for fiscal year (2025).
Ernst & Young has issued the CHA an unmodified opinion. The Report of Independent Auditors states that CHA’s financial statements present fairly, in all material respects, the financial position of the Authority as of December 31, 2025.
Respectfully Submitted:
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Keith Pettigrew
Chief Executive Officer