Dear Editor:
It is with great pleasure that I report on the financial status of the Hoboken Housing Authority. Our executive director, Carmelo Garcia, has worked tirelessly with our staff and our fee accountant, William Ketchen, to bring our authority to a place of not only financial stability but financial health.
Our HUD required annual audit was performed by the firm of Hymanson, Parness and Giampaolo. The findings were clear. The Hoboken Housing Authority has increased its cash reserve and is operating at a surplus to prepare for the ongoing cuts in Congress and to ensure sustainability of our assets.
Each year, the federal government limits our funding even further. We understand the state of the economy and have decided to attack the problem head on.
Our staff has worked very hard to be creative and cut costs while providing resident services no longer funded by HUD. We have right-sized and restructured our organization. Most importantly, long-standing vacant units are back online and rented. Not only allowing us to collect the income from these units but to help more families in need move from our waiting lists to residential units.
I am happy to report that 100 percent of our American Recovery and Reinvestment Act money has been expended ahead of the March 2012 deadline. All money was spent by investing in the infrastructure of our properties.
With new managers in place, an exceptional staff and our action driven visionary leader I am confident that we will be able to keep to this new standard of financial excellence and continue to help the residents in our community who need us most. I can be reached at (201) 526-4261.
Sincerely,
Jeanne Rodriguez
Chairwoman, Hoboken Housing Authority