Each year CHA prepares several reports containing financial information for the agency, including the Comprehensive Annual Budget and Comprehensive Annual Financial Report (CAFR).
Comprehensive Annual Budget
The Comprehensive Annual Budget is prepared for each fiscal year (January 1 – December 31). The document outlines CHA's budget and financial strategies for the upcoming year, including personnel and non-personnel expenditures, financial summary tables and narrative overviews related to CHA operations. The Budget is reviewed by the Board of Commissioners in a series of briefings in October and November, and approved by the Board in December.
Comprehensive Annual Financial Report
The Comprehensive Annual Financial Report (CAFR) contains CHA financial statements for the fiscal year based upon actual results as of December 31. Each CAFR is audited by an independent firm of licensed public accountants. The audit includes an evaluation of the appropriateness of the agency’s accounting practices and the overall presentation of the financial statements. The CAFR is approved by the Board of Commissioners and submitted to HUD.
Single Audit Report
The Single Audit is required for entities such as the CHA, that receive and use substantial federal financial assistance. Each Single Audit report is presented by an independent firm of licensed public accountants. The report includes an opinion on the compliance with the types of requirements described in the U. S. Office of Management and Budget (OMB) Compliance Supplement that could have a direct and material effect on CHA’s major federal programs for the fiscal year. The Single Audit Report is approved by the Board of Commissioners and submitted to HUD.