The Fiscal Administration Division works collectively to assist the program divisions in meeting the Agency goals and summarizes the results of these efforts through accounting and financial reporting.

This year we were faced with several challenges ranging from implementing new software systems to new programs. Investment and accounting system upgrades were implemented to allow for an easier interface with our mortgage servicing system, as well as to enhance many other accounting processes. This being the first year for the Section 8 Contract Administration Division, we worked very closely to ensure the success of the program. The Fiscal Administration Division supports the various other divisions by handling a range of administrative tasks.

Through interdivisional cooperation, we are able to successfully report the financial operations of the Agency. The Agency took a lead in complying this year with GASB Statement No. 34 in relation to the Statement of Cash Flow. The audited financial statements are presented in comparative form. The financial statements have been prepared in conformity with generally accepted accounting principles as prescribed by the Governmental Accounting Standard Board (GASB).