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JCHA CAFR 2015-Final updated

The Jersey City Housing Authority's mission is to develop and manage high-quality, safe, affordable, sustainable and accessible housing, and to foster resident self-sufficiency. The document provides details on the Authority's 2015 Comprehensive Annual Financial Report, including its programs, funding sources, economic factors, and financial results. It experienced an operating loss in 2015 but less than the previous year due to expense reductions. The Authority aims to further improve efficiency and reduce costs.

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“The Mission of the Jersey City Housing Authority is to develop and manage Housing of Choice of the highest standards, which is safe, affordable, sustainable and accessible; and, in partnership with outside organizations, foster resident responsibility and self- sufficiency.” Comprehensive Annual Financial Report (CAFR)-FYE March 31, 2015 OUR MISSION Phone: 201-706-4600 Fax: 201-547-8955 web : www.jcha-gov.us 400 US Highway#1 (Marion Gardens) Jersey City, NJ 07306 Jersey City Housing Authority Prepared by The Office of the Chief Financial Officer Samuel Moolayil, CFO
JERSEY CITY HOUSING AUTHORITY Jersey City, New Jersey Comprehensive Annual Financial Report For the Fiscal Years Ended March 31, 2015 and 2014 TABLE OF CONTENTS Page No. INTRODUCTORY SECTION Letter of Transmittal………………………………………………………………… 1 Organization Chart………………………………………………………………….. 7 List of Principal Officials………………………………………………………........ 8 FINANCIAL SECTION Report of Independent Auditors…………………………………………………. 9 Management’s Discussion and Analysis…………………………………………. 12 Basic Financial Statements: Combined Statements of Net Position……………………………………………… 24 Combined Statements of Revenues, Expenses and Changes in Net Position………. 25 Combined Statements of Cash Flows………………………………………………. 26 Notes to Combined Financial Statements…………………………………………... 28 Required Supplementary Information Supplementary Information Combined Schedule of Expenditures of Federal Awards………………………….. 53 Notes to Combined Schedule of Expenditures of Federal Awards………………… 57 Schedule of Findings and Questioned Costs……………………………………….. 60 Financial Data Schedule……………………………………………………………. 62
TABLE OF CONTENTS (Continued) Page No. STATISTICAL SECTION (Unaudited) Financial Trends Revenues, Expenses and Changes in Net Assets………………………….. 72 Net Assets by Category……………………………………………………. 73 Capital Assets by Category………………………………………………... 74 Revenue Capacity Revenue on a Gross Basis…………………………………………………. 75 Debt Capacity Long Term Bond Payable…………………………………………………. 76 Demographics and Economical Information Resident Demographics – Low Rent Program…………………………….. 77 Resident Demographics – Housing Choice Voucher Program…………….. 80 JCHA Demographics and Economic Statics – Ten Year Trend…………… 83 City of Jersey City Demographics and Economic Statics – Ten Year Trend 84 Employment Status of the City of Jersey City – Ten Year Trend…………. 85 Wage and Salary Employment, City of Jersey City, New Jersey - Total Employment by Industry 2006-2013 -5 Year Trends……………….. 86 Operating Information Section 8 Management Assessment Program (SEMAP) Indicators……… 87 Public Housing Assessment System (PHAS) Indicators…………………. 88 Summary of Public Housing Developments – JCHA Run Properties……. 89 Summary of Public Housing Developments – Privately Run Properties… 90 JCHA Real Estate Portfolio………………………………………………. 91 Employee Head Count……………………………………………………. 118 EXHIBIT-A Extension Approval Letter from GFOA Director Stephen J. Gauthier…… 119
The Jersey City Housing Authority Hosts Graduation for Family Self- Sufficiency (FSS) Graduate JERSEY CITY HOUSING AUTHORITY BOARD OF DIRECTORS AND FSS GRADUATE, TRACIE THOMPSON NOVEMBER 6, 2015 The Jersey City Housing Authority held a graduation ceremony during its November 4, 2015 Board Meeting to celebrate and acknowledge the accomplishment of its most recent graduate of the Family Self-Sufficiency Program (FSS) Program. Since its inception, the Jersey City Housing Authority had has over 100 families complete the FSS Program. The celebration was for graduate Tracie Thompson. Ms. Thompson is a full-time Financial Counselor at Jersey City Medical Center – Barnabas Health. The program has allowed her to improve her skills as a prospective first-time homebuyer. Only a little over four years after joining the program, Ms. Thompson established a savings plan, found a full-time job, received credit counseling, and completed first-time homebuyer education. The Family Self-Sufficiency (FSS) Program is a voluntarily five-year HUD program that enables families assisted through the Housing Choice Voucher (HCV) program to increase their earned income and reduce their dependency on welfare assistance and rental subsidies through case management and referral services. There are currently over 200 participants enrolled in this program at the Jersey City Housing Authority. Families who are eligible to participate in the FSS program should contact their caseworker to discuss participation on the program. To learn more about the Family Self-Sufficiency Program, please visit our webpage at www.jcha-gov.us. Diana Coral, FSS Program Coordinator, Tracie Thompson, FSS Graduate and Patricia Ramirez, HCVP Director
INTRODUCTORY SECTION
1    December 2, 2015 The Board of Commissioners Jersey City Housing Authority Jersey City, New Jersey 07036 The Real Estate Assessment Center (“REAC”) of the U.S. Department of Housing and Urban Development (“HUD”) requires all public housing authorities to submit within nine months of the close of each fiscal year a complete set of audited financial statements, presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and audited in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards by a firm of independent certified public accountants. We are pleased to submit the Comprehensive Annual Financial Report (“CAFR”) of the Jersey City Housing Authority (the “Authority” or “JCHA”) for the years ended March 31, 2015 and 2014. This report consists of management's representations concerning the finances of the Authority. Consequently, management assumes full responsibility for the completeness and reliability of all the information presented in this report. To provide for a reasonable basis for making these representations, management of the Authority has established a comprehensive internal control framework that is designed both to protect its assets from loss, theft, or misuse and, to compile sufficient reliable information for the preparation of the Authority's financial statements in conformity with GAAP. Because the cost of internal controls should not outweigh its benefits, the Authority's comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free of material misstatements. As management, we assert that to the best of our knowledge and belief, this financial report is complete and reliable in all material respects. The Authority's financial statements have been audited by Fallon and Larsen LLP, a firm of licensed certified public accountants. The purpose of the independent audit is to
2    provide reasonable assurance that the financial statements of the Authority for the year ended March 31, 2015, taken as a whole, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. The independent auditors issued an unqualified opinion on the Authority's financial statements for the year ended March 31, 2015, indicating that they were fairly presented, in all material respects, and in conformity with GAAP. The independent auditors' report is presented as the first component of the financial section of this report. The independent audit of the financial statements of the Authority is a component of the federally mandated “Single Audit”, which is designated to meet the special needs of federal grantor agencies. GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis (“MD&A''). This letter of transmittal is designed to complement MD&A and should be read in conjunction with it. The Authority's MD&A can be found immediately following the independent auditors' report. Profile of the Authority The Authority was created by a City of Jersey City ordinance in accordance with the State of New Jersey Local Housing Authorities Law in 1938 (N.J.S.A. 40A:12A). The governing body of the Authority is composed of seven members, five members appointed by the governing body, one by the mayor and one by the Commissioner of Community Affairs of the State of New Jersey. The Authority is the second largest public housing authority in New Jersey charged with providing low-income residents of Jersey City with decent, safe and affordable housing. As of March 31, 2015 the Authority owns and operates 2,079 low-rent Public Housing rental ACC units located in 9 Asset Management Properties (AMPs), 126 non-federal units in two AMPs and 742 Mixed-Finance Units of which 516 ACC Units, consists of 10 AMPs. HUD has also contracted with the Authority for the support of 3,969 Housing Choice Vouchers. Under the Housing Choice Voucher Program, the Authority administers contracts with private landlords owning rental property. The Authority subsidizes the family’s rent through housing assistance payment made to the landlord. The program
3    is administered under an Annual Contributions Contract (ACC) with HUD. The Mission of the Jersey City Housing Authority is to develop and manage Housing of Choice of the highest standards, which is safe, affordable, sustainable and accessible; and, in partnership with outside organizations, foster resident responsibility and self-sufficiency. The Authority's basic financial statements consist of a single enterprise fund, which includes the following programs: • Low Rent Housing (“LRH”) Program • Section 8 Housing Choice Voucher (“HCV”) Programs (HCV, Mainstream, VASH etc.) • Public Housing Capital Fund (“CFP”) Program • Resident Opportunity and Self-sufficiency (“ROSS”) Program • Revitalization of Severely Distressed Public Housing (“HOPE VI”) Program • Supportive Housing for Persons with Disabilities • Shelter Plus Care Program (“SPC”) • Section 8 Moderate Rehabilitation Single Room Occupancy (“SRO”) • State and Local Programs Please refer to Note 1 to the financial statements for a description of Authority programs. For further analysis, we have also included supplemental financial schedules for the programs individually, which can be found following the notes to the basic financial statements. Economic Factors As a public housing authority ("PHA"), the Authority's primary source of funding is from US Department of Housing and Urban Development (HUD). The amount of funding received from the Department of Housing and Urban Development is affected by Congressional housing appropriation, legislation and the federal budget. The Authority continues to be challenged with unpredictable Federal funding levels from HUD. Public Housing programs will continue to operate at a deficit due to the low Project Expenses Level (PEL) funding and the proration set by HUD based on the House Committee appropriations cut backs every year. On November, 2005, HUD’s interim operating fund rule became effective. The rule amended the Public Housing Operating Fund Program's regulations and provided a new formula for the distribution of operating subsidies to PHAs. This rule converted public
4    housing to an asset management based system of budgeting, accounting and funding. It also required PHAs to convert to project based management within five years of the effective date. The change was driven by a ‘Harvard Cost Study’ and the real estate property concept of asset management, in which a property manager considers both the short-term needs and the long-term positioning of real estate assets. Under the interim rule the JCHA was a decliner. For PHAs which would not benefit from the new formula funding (decliners), HUD provided additional incentive funding called the ‘Transition Funding’, for early conversion to Project-based on a sliding scale over a five year period. The JCHA has been deemed compliant under “Asset Based Management” regulations and has stopped the annual loss subsequently. The Authority is taking steps to reduce the impact of future deficits through continued compliance with asset based management, energy conservation, and various other expense reduction measures. Financial Results and Outlook The Authority's operating loss as of March 31, 2015 was $4,073,086 as compared to $7,516,850 for the previous year. Operating loss decreased by 3,443,764 or 45.81% primarily due to the reduction of operating expenses in the amount of $4,431,606 which was offset by the reduction of operating revenues in the amount of $987,742. Improve Central Office and Administrative Efficiency. Through the years, the Authority has taken aggressive measures to contain spending through various expense reduction programs. Operating Budget reflects initiatives through which central office and administrative office activities will be streamlined and resources redirected to the frontline. Although the Authority has been taking measures to control costs, savings have been offset by increases in certain other costs such as employee entitlements including pension, and health insurance. Energy Conservation. The Authority entered into a lease purchase agreement on November 23, 2010 for energy savings equipment expiring in November 2025 with Siemens Building Technologies, Inc. for capital equipment lease program. Under the terms of the lease, interest accrued at 5.32% from lease inception through May 2012 at time payments of $69,950 including interest at 2.95% will be made through termination. The bonds mature at various times through November 2025 bearing interest at 2.95%. The Authority is currently in the process of refinancing these bonds for an even lower interest rate of 2.2397%.
5    Public Housing Assessment System (PHAS). In 1999, HUD instituted the Public Housing Assessment System ("PHAS”) process which measures the performance of PHAs in four categories: Physical Assessment, Financial Condition, Management Operations, and Resident Satisfaction. The Financial component is used to determine if the PHA has sufficient financial resources and is managing those resources effectively to support its operations. During 2011, HUD issued the PHAS Interim Rule, which revised the previous PHAS guidelines. Under the PHAS Interim Rule, the performance of PHAs is measured in the following categories: Physical Assessment, Financial Condition, Management Operations and Capital Fund Program. One significant change pertains to the financial performance. Under the interim Rule, HUD will use indicators that cover both the Financial Condition and Management Operations components to assess the financial performance of PHAs. The overall score for Fiscal Year End of March 31, 2014, under the Interim Rule was 60, which designates the Authority as a Sub-Standard Performer. The final PHAS score for the Fiscal Year Ended March 31, 2015 will not be received from HUD until after the submission and review and the approval of the audited Financial Data Schedule by REAC. JCHA is projecting a score of 71 for Fiscal Year Ended March 31, 2015. Section Eight Management Assessment Program (SEMAP). The SEMAP measures the performance of the public housing agencies (PHAs) that administer the Housing Choice Voucher program in 14 key areas. The 14 key indicators of PHA performance are: (i) Proper selection of applicants from the housing choice voucher waiting list, (ii) Sound determination of reasonable rent for each unit leased, (iii) Establishment of payment standards within the required range of the HUD fair market rent, (iv) Accurate verification of family income, (v) Timely annual reexaminations of family income, (vi) Correct calculation of the tenant share of the rent and the housing assistance payment, (vii) Maintenance of a current schedule of allowances for tenant utility costs, (viii) Ensure units comply with the housing quality standards before families enter into leases and PHAs enter into housing assistance contracts, (ix) Timely annual housing quality inspections, (x) Performing of quality control inspections to ensure housing quality, (xi) Ensure that landlords and tenants promptly correct housing quality deficiencies, (xii) Ensure that all available housing choice vouchers are used, (xiii) Expand housing choice outside areas of poverty or minority concentration, and (xiv) Enroll families in the family self-sufficiency (FSS) program as required and help FSS families achieve increases in employment income.
JCHA in News JERSEY CITY - The Board of Commissioners of the Jersey City Housing Authority has selected its preferred candidate for the position of executive director – Marvin Walton, a Jersey City resident and public housing professional with 13 years of leadership experience at three of the nation’s largest housing authorities. “The selection of Marvin Walton speaks to the talent we are bringing to Jersey City government as we focus on building communities and creating greater opportunities for all of our residents,” said Mayor Steven Fulop. “The Jersey City Housing Authority has been a tremendous partner in restoring neighborhoods in Jersey City and providing access to quality affordable and public housing in all areas. With Marvin at the helm, we will be able to advance our goal of creating more affordable housing throughout the city.” For the past six years, Mr. Walton has served in leadership roles at the Newark Housing Authority, the largest housing authority in New Jersey and the eleventh largest in the nation, with a portfolio of 44 public housing communities and a total of over 8,000 rental units. He has served as the Deputy Executive Director for the past four years and previously served as Chief Financial Officer. Jersey City names new Housing Chief Hudson Reporter. Jan 15, 2015
Jersey City Housing Authority ORGANIZATION CHART November 2015 BOARD OF COMMISSIONERS Raj Mukherji, Chair Reginald Jones, Vice-Chair Aneesah Abdullah Freddie Kitchens Thomas Kukla Hector Fuentes Vacant BOARD SECRETARY EXECUTIVE DIRECTOR Marvin L. Walton ASST. SECRETARY TO THE BOARD CARMEN CARRILLO ACCOUNTING & FINANCE Arlyn Agustin Comptroller COMPLIANCE & TECHNICAL SUPPORT Joyce Worthington Director DEVELOPMENT Stephen Cea, Esq. Director & In-House Counsel RENTAL ASSISTANCE PROGRAM Patricia Ramirez Director Purchasing Accounting Accts Payable Accounts Receivable Payroll Insurances SKILLED TRADES: Skilled Trade Services HVAC Systems Maintenance Contract Services Fire Safety Housing Choice Vouchers Homeless Prevention Programs HUMAN RESOURCES COORDINATOR Victoria Guingon Compliance: Privately- managed HOPE VI Sites (10 current) Compliance: PH & Affordable housing Compliance: HCVP Compliance: Tenancy Applicant Selection Management Information Systems Stewart Apartments Records Management Mayor’s Task Force on Quality of Life Revitalization Programs Design / Publications Capital Fund Homeownership Local Hiring & MBE Sustainability Energy Performance Contracts (EPC) Not-for-Profit Corps TAB - RAB ASSET MANAGEMENT: Marion Gardens Booker T. Washington Hudson Gardens Holland Gardens Montgomery Gardens Curries Woods Berry Gardens Arlington Gardens Dwight Street Homes 254 Bergen Avenue DEPUTY EXECUTIVE DIRECTOR Patricia Madison LEGAL SERVICES Eilleen Ingram-Willis, Esq. IN-HOUSE COUNSEL ACCOUNTING &FINANCE Samuel Moolayil CHIEF FINANCIAL OFFICER File:2015-05JCHAOrganizationChart(cj) 7
  JERSEY CITY HOUSING AUTHORITY LIST OF PRINCIPAL OFFICIALS Name Title __________________________________________________________ BOARD OF COMMISSIONERS Raj Mukherji………….………………………………….….Chairperson Reginald Jones………………..……………………..... Vice Chairperson Aneesah Abdullah……………………………………………… Member Freddie Kitchens……………………………………………….. Member Thomas Kukla………………………………………………….. Member Hector Fuentes………………………………………………..... Member Vacant………………………………………………………...... Member EXECUTIVE STAFF Marvin L. Walton ……………………………….….. Executive Director Patricia Madison…………………………… Deputy Executive Director Samuel G. Moolayil……………………………. Chief Financial Officer Eilleen Ingram-Willis…………………………….….. In-house Counsel Stephen F. Cea………… Director of Development & In-house Counsel Patricia Ramirez………... Director of Rental Assistance/HCV Programs Joyce Worthington…… Director of Compliance and Technical Support Ken Pinnock……………………………………….... Purchasing Agent Vicki Guingon…………………………. Human Resources Coordinator     8 
Raj Mukherji Chairperson BOARD OF COMMISSIONERS Rejinald J. Jones Vice-Chairperson Aneesah Abdullah Freddie Kitchens Thomas Kukla Hector Fuentes Vacant
Marvin L. Walton Executive Director EXECUTIVE STAFF Patricia Madison Deputy Executive Director Samuel G. Moolayil Chief Financial Officer Eilleen Ingram-Willis, Esq. In-House Counsel Stephen F. Cea, Esq. Dir. of Dev & In-House Counsel Patricia Ramirez Director of HCV Programs Joyce Worthington Director of Compliance & IT Kenneth Pinnock Purchasing Agent Vicki Guingon HR Coordinator
FINANCIAL SECTION
252 Washington Street 732-503-4257 Main Suite B 732-341-1424 Fax Toms River, NJ 08753 www.falloncpa.com 9 INDEPENDENT AUDITOR'S REPORT The Board of Commissioners Jersey City Housing Authority: Report on the Financial Statements We have audited the accompanying financial statements of the Jersey City Housing Authority ("the Authority") as of and for the years ended March 31, 2015 and 2014, and the related notes to the financial statements, which collectively comprise the Authority’s basic financial statements as listed in the accompanying table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America. This includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States and audit requirements as prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
10 INDEPENDENT AUDITOR'S REPORT (continued) Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Jersey City Housing Authority as of March 31, 2015 and 2014, and the respective changes in financial position and cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audits of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audits were conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Jersey City Housing Authority's basic financial statements. The Schedule of Expenditures of Federal awards, as required by Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations is presented for purposes of additional analysis and is not a required part of the basic financial statements. The accompanying financial data schedule is also not a required part of the financial statements and are presented for the purposes of additional analysis as required by the U.S. Department of Housing and Urban Development. The schedule of expenditures of federal awards and the financial data schedule are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule of expenditures of federal awards and the financial data schedule are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
11 INDEPENDENT AUDITOR'S REPORT (continued) Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 31, 2015 on our consideration of the Jersey City Housing Authority's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Jersey City Housing Authority's internal control over financial reporting and compliance. October 31, 2015 Toms River, New Jersey
(From left to right) Jonathan Lubonski, Michaels Development Company; Glenis Polanco-Rodriguez, JCHA Commissioner; Reginald Jones, JCHA Commissioner; Holly Leicht, US Department of Housing and Urban Development; Patricia Madison, JCHA Acting Executive Director; Ava Goldman, President, Michaels Development Company; Marcos Vigil, Deputy Mayor; Aneesah Abdullah, JCHA Vice Chairperson; Anthony Marchetta, Executive Director NJHMFA; Freddie Kitchens, JCHA Commissioner Groundbreaking of Glennview Townhouses II in Jersey City
MANAGEMENT'S DISCUSSION AND ANALYSIS
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 12 Management’s Discussion and Analysis (MD&A) is designed to (a) assist the reader in focusing on significant financial issues, (b) provide an overview of the Authority’s financial activity, and (c) identify changes in the Authority’s financial position for the fiscal years ended March 31, 2015 and 2014. Please read it in conjunction with the Authority’s financial statements. Overview of the financial statements The Authority’s financial statements are prepared on the accrual basis of accounting in accordance with generally accepted accounting principles. The Authority’s accounting records are structured as an enterprise fund with revenues recognized when earned, rather than when received. Expenses are recognized when incurred, not when they are paid. Capital assets are capitalized and depreciated over their estimated useful lives. The accounting for enterprise funds is similar to the accounting used by businesses. See the notes to the financial statements for a summary of the Authority’s significant accounting policies. Following the MD&A are the basic financial statements of the Authority together with notes, which are essential to a full understanding of the data contained in the financial statements. The Authority’s basic financial statements are designed to provide readers with a broad overview of the Authority’s finances. The Statements of Net Position present information similar to a Balance Sheet. The Statement of Net Position reports all financial and capital resources of the Authority. The statement is presented in the format where assets, minus liabilities, equal net position. Assets and liabilities are presented in order of liquidity, and are classified as current and non-current. Net position is reported in three broad categories: Net Investment in Capital Assets: This component consists of all capital assets, reduced by the outstanding balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction, or improvement of those assets. Restricted Net Position: This component consists of assets that are constrained by limitations placed on their use by creditors (such as debt covenants), grantors, contributors, laws, regulations, etc. Unrestricted Net Position: This component consists of assets that are not restricted and do not meet the definition of Net Investment in Capital Assets.
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 13 Overview of the financial statements (continued) The Statements of Revenues, Expenditures, and Changes in Net Position present information showing how the Authority’s net position changed during the year. This statement includes operating revenues, such as rental income, HUD operating grants, operating expenses, such as administrative, tenant services, utilities, maintenance, and depreciation, and non-operating revenue and expenses, such as capital grant revenue, investment income, interest expense, and gains or losses from the sale or disposition of capital assets. The focus of the statement is the change in net position, which is similar to net income or loss for a business entity. The Statements of Cash Flows report net cash provided by or used by operating activities, non-capital financing activities, capital and related financing activities and investing activities. The Notes to Financial Statements provide additional information that is essential to a full understanding of the information included in the financial statements. In addition to the basic financial statements and accompanying notes, this report includes two types of supplementary information: required supplementary information and other supplementary information. Required supplementary information must be included to conform to generally accepted accounting principles. Management’s Discussion and Analysis is the required supplementary information. Other supplementary information is not required by generally accepted accounting principles but is presented for additional analysis purposes or to meet other requirements. The financial data schedule is required by the U.S. Department of Housing and Urban Development (HUD). The schedule of expenditures of federal awards is required by the U.S. Office of Management and Budget and Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Program information Low Income Public Housing: The Authority owns and manages 2,079 units and 516 mixed finance ACC units managed by private management companies. Under the Low Income Public Housing program, the Authority rents units that it owns, to low-income households. The program is operated under an Annual Contributions Contract (ACC) with HUD, and HUD provides Operating Subsidy and Capital Funding to enable the Authority to provide housing at a rent that is based on 30% of household income. The Conventional Public Housing Program includes the Capital Fund Program, which is the primary funding source for physical and management improvements to the Authority’s properties.
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 14 Program information (continued) Section 8 Housing Choice Vouchers: HUD has contracted with the Authority for the support for 3,969 Housing Choice Vouchers. Under the Housing Choice Voucher Program, the Authority administers contracts with landlords that own rental property. The Authority subsidizes the family’s rent through a Housing Assistance Payment made to the landlord. The program is administered under an Annual Contributions Contract (ACC) with HUD. HUD provides Annual Contribution Funding to enable the Authority to structure a lease that sets the participants’ rent at 30% of household income. Financial position and analysis Table 1 compares the Authority’s financial position for the fiscal years ended March 31, 2015 and 2014: 2015 2014 Increase (Decrease) Percent Variance Assets: Cash & cash equivalents $ 2,917,541 $ 4,429,489 $ (1,511,948) -34.13% Other Current assets 2,164,333 1,417,480 746,853 52.69% Non-current assets 157,773,993 160,023,055 (2,249,062) -1.41% Total assets 162,855,867 165,870,024 (3,014,157) -1.82% Liabilities: Current liabilities 3,386,083 5,439,743 (2,053,660) -37.75% Non-current liabilities 19,607,063 21,495,599 (1,888,536) -8.79% Total liabilities 22,993,146 26,935,342 (3,942,196) -14.64% Net position: Invested in capital assets 75,018,512 78,044,065 (3,025,553) -3.88% Restricted net position 62,274,143 60,266,036 2,008,107 3.33% Unrestricted net position 2,570,066 624,581 1,945,485 311.49% Total net position $ 139,862,721 $ 138,934,682 $ 928,039 0.67%
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 15 Financial position and analysis (continued) Cash and Cash Equivalents decreased by $1,511,948 or 34.13%.  This is primarily due to the use of $372,904 in operating activities, $528,033 in capital and related financing activities, $582,455 in investing activities and contributed $28,556 to restricted cash accounts. Other Current Assets increased by $746,853 or 52.69% primarily due to increases in amounts due from HUD regarding Housing Choice Voucher program funding. Non-current Assets decreased by $2,249,062 or 1.41% primarily due to depreciation expense exceeding capital asset purchases for the year by $4,286,276 which was offset by a $2,008,658 increase in notes receivable and the related accrued interest. Current Liabilities decreased by $2,053,660 or 37.75% primarily due to a substantial decrease in accrued utilities at year-end. Non-current liabilities decreased by $1,888,536 or 8.79% due primarily to payments on long term debt and reduction of compensated absences owed. Table 2 focuses on the changes in net position: 2015 2014 Increase (Decrease) Percent Variance Operating revenue & expense Operating revenue $ 61,968,440 $ 62,956,282 $ (987,842) -1.57% Operating expenses 66,041,526 70,473,132 (4,431,606) -6.29% Operating loss (4,073,086) (7,516,850) 3,443,764 -45.81% Non-operating revenues & expenses 5,001,125 4,731,079 270,046 5.71% Increase (decrease) in net position 928,039 (2,785,771) 3,713,810 -133.31% Net position, beginning of year 138,934,682 141,720,453 (2,785,771) -1.97% Net position, end of year $ 139,862,721 $ 138,934,682 $ 928,039 0.67%     
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 16 Financial position and analysis (continued) Table 3 presents a summary of the Authority’s revenue by source: 2015 2014 Increase (Decrease) Percent Variance Operating revenue Tenant revenue $ 9,207,090 $ 10,249,414 $ (1,042,324) -10.17% HUD operating grants 51,930,212 51,940,100 9,888 0.02% Other income 831,138 766,768 64,370 8.39% Total operating revenue 61,968,440 62,956,282 (987,842) -1.57% Non-operating revenues Investment income 111,199 177,168 (65,969) -37.24% Mortgage interest income 2,033,120 1,969,853 63,267 3.21% Capital grants 3,574,922 3,391,894 183,028 5.40% Total non-operating revenues 5,719,241 5,538,915 180,326 3.26% Total revenues $ 67,687,681 $ 68,495,197 $ (807,516) -1.18%   Operating Loss decreased 3,443,764 or 45.81% primarily due to the reduction of operating expenses in the amount of $4,431,606 which was offset by the reduction of operating revenues in the amount of $987,842.   Tenant Revenues decreased by $1,042,324 or 10.17% primarily because Montgomery Gardens, a public housing development, saw a decline in tenant rents of $923,274 as several units were taken offline as part of a major redevelopment program for the project. Capital Grants increased by $183,028 or 5.40% due to more capital improvement works and corresponding revenue received as compared to last year.
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 17 Financial position and analysis (continued) Table 4 presents a summary of the Authority’s operating expenses: 2015 2014 Increase (Decrease) Percent Variance Administrative $ 7,544,974 $ 8,379,595 $ (834,621) -9.96% Tenant services 244,774 248,376 (3,602) -1.45% Utilities 4,786,042 5,281,180 (495,138) -9.38% Maintenance 6,686,516 7,442,365 (755,849) -10.16% Protective services 127,725 412,765 (285,040) -69.06% Insurance 739,371 1,163,024 (423,653) -36.43% General expense 2,894,043 3,862,881 (968,838) -25.08% Extraordinary maintenance expense 355,923 504,655 (148,732) -29.47% Depreciation expenses 7,128,508 6,812,033 316,475 4.65% Housing assistance payments 35,533,650 36,366,258 (832,608) -2.29% Total expenses $ 66,041,526 $ 70,473,132 $ (4,431,606) -6.29% Administrative Expenses decreased by $834,621 or 9.96% primarily due to the reduction in salaries and benefits. Utilities Expenses decreased $495,138 or 9.38% primarily due to the reduction in electricity and gas charges. Maintenance expenditures decreased by $755,849 or 10.16% primarily due to the reduction in labor and employee benefits. Protective Services expenditures decreased by $285,040 or 69.06% primarily due to decreased salaries and benefit costs as security services are now contracted out. General Expenses and Insurance costs decreased by $968,838 and $423,653 respectively primarily due to the reduction in other general expenses and insurance expense. Depreciation Expenses increased by $316,475 or 4.65% primarily due to more assets being placed in service during the fiscal year. Housing Assistance Payments decreased by $832,608 or 2.29% primarily due to insufficient funding and leasing freeze during the fiscal year.
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 18 Budgetary Analysis The Authority adopts a consolidated annual operating budget for all programs. The budget for Low Income Public Housing is adopted on the basis of accounting prescribed by HUD, which differs in some respects from generally accepted accounting principles. Low Income Public Housing Table 5 Budget Actual Variance Favorable (Unfavorable) Percent Variance Favorable (Unfavorable) Rental income $ 8,075,098 $ 7,976,498 $ (98,600) -1.22% Operating grants 14,772,021 13,042,494 (1,729,527) -11.71% Interest income 21,000 2,134,456 2,113,456 10064.08% Other income 829,404 518,452 (310,952) -37.49% Total revenue 23,697,523 23,671,900 (25,623) -0.11% Administrative 4,712,737 4,882,304 (169,567) -3.60% Tenant services 23,298 38,487 (15,189) -65.19% Utilities 4,320,829 4,419,081 (98,252) -2.27% Maintenance 6,380,296 6,471,330 (91,034) -1.43% Protective services 317,616 117,060 200,556 63.14% Insurance 821,834 417,457 404,377 49.20% General expenses 5,401,506 2,235,372 3,166,134 58.62% Interest expense - 603,306 (603,306) 100.00% Extraordinary maintenance - 33,235 (33,235) 100.00% Depreciation - 5,983,144 (5,983,144) 100.00% Total expenses 21,978,116 25,200,776 (3,222,660) -14.66% Income (over)/under expense $ 1,719,407 $ (1,528,876) $ 3,197,037 185.94%
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 19 Budgetary Analysis (continued) Operating grants were over budgeted by $1,729,527 or 11.71% as the Authority received less operating subsidy than expected. Interest Income was under budgeted by $2,113,456. This was primarily due to accrued mortgage interest income not being included with the budgeted income. Other Income was over budgeted by $310,952. This was primarily due to over projection in other income. Administrative Expense was under budgeted by $169,567. This was primarily due to retirement and final payoff of some administrative staff than originally anticipated. Protective Services were over budgeted by $200,556 or 63.14% primarily due to decreased salaries and benefits for security personnel as most services were contracted out. General Expenses and Insurance costs were over budgeted by $3,166,134 and $404,377 respectively as certain employee benefits, insurance expense and other general expenses incurred were less than originally budgeted.
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 20 Budgetary Analysis (continued) Housing Choice Vouchers Table 6 Budget Actual Variance Favorable (Unfavorable) Percent Variance Favorable (Unfavorable) Revenue HCV Grant revenue $ 36,233,310 $ 37,280,858 $ 1,047,548 2.89% Port-In Revenue - 90,610 90,610 100.00% Other Income 117,950 128,300 10,350 8.77% Total revenue 36,351,260 37,499,768 1,148,508 3.16% Expenses Administrative 2,593,633 2,849,955 (256,322) -9.88% Depreciation - 6,019 (6,019) -100.00% Maintenance - 1,654 (1,654) 100.00% Insurance 81,855 87,737 (5,882) -7.19% General expense - 291,450 (291,450) 100.00% HAP expense 33,593,232 34,385,267 (792,035) -2.36% Total expenses 36,268,720 37,622,082 1,353,362 3.73% Income (over)/under expense $ 82,540 $ (122,314) $ (204,854) -248.19% HCV Grant Revenue was under budgeted by $1,047,548 or 2.89%. This was primarily due to budget estimates assuming a lower proration of funding and more unit months under lease. Administrative Expenses were under budgeted by $256,322. This is mainly due to an increase in salaries and benefits. HAP Expenses were under budgeted by $792,035. This was primarily due to more unit months being under lease than anticipated.
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 21 Capital assets Table 7 summarizes the Authority’s investment in capital assets: 2015 2014 Increase (Decrease) Percent Variance Land $ 5,265,611 $ 5,265,611 $ - 0.00% Buildings, improve. and equip 196,438,315 196,438,315 - 0.00% Construction in progress 10,184,052 7,341,820 2,842,232 38.71% 211,887,978 209,045,746 2,842,232 1.36%                      Less: accumulated depreciation (118,480,445) (111,351,937) (7,128,508) 6.40% Capital assets, net $ 93,407,533 $ 97,693,809 $ (4,286,276) -4.39% Acquisitions are capitalized at cost and depreciated using the straight-line method of depreciation. Additional information and details can be found in the Notes to the Financial Statements. Capital funding available for 2015 is as follows: Table 8 Grant Total Budget Expended through 3/31/2015 Budget Remaining at 3/31/2015 Capital Fund Program 2011 501-11 4,791,622 4,767,408 24,214 Capital Fund Program 2011C 501-11C 998,640 10,524 988,116 Capital Fund Program 2012 501-12 3,872,643 2,992,052 880,591 Capital Fund Program 2013 501-13 3,728,805 2,140,631 1,588,174 Capital Fund Program 2013E 501-13E 250,000 164,000 86,000 Capital Fund Program 2014 501-14 3,821,981 1,119,040 2,702,941 $ 6,270,036
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 22 Analysis of Debt Activity Table 9 The Authority entered into a lease purchase agreement in the amount $8,500,000 on November 23, 2010 for energy savings equipment expiring in November 2025. Under the terms of the lease, interest accrued at 5.32% from lease inception through May 2012 at which time monthly payments of $69,950 including interest at 2.95% will be made through termination. March 31, 2014 $ 8,227,317.00 Current year debt paid 760,902.00 March 31, 2015 $ 7,466,415.00 In December of 2007, the Authority entered into a Capital Fund leveraging pool. The New Jersey Housing and Mortgage Finance Agency issued tax exempt, twenty year Capital Fund Program Revenue Bonds totaling $18,585,000. The Authority's share amounted to $10,000,000 and this accrues interest between 4% and 5% and is payable semiannually with principal on May 1st and November 1st semiannually. March 31, 2014 $ 7,980,000.00 Current year debt paid 410,000.00 March 31, 2015 $ 7,570,000.00 Mortgage loan payable to the New Jersey Housing Mortgage Finance Agency (NJHMFA) in the original amount of $1,077,250 bearing interest at a rate of 7.75% with monthly principal and interest payments, maturing in September 2022. March 31, 2014 $ 565,973.00 Current year debt paid 49,582.00 March 31, 2015 $ 516,391.00 Mortgage loan payable to the Department of Community Affairs of the State of New Jersey as part of the Balanced Housing Program in the original amount of $1,073,315 bearing no interest and maturing in September 2022. March 31, 2014 $ 1,073,315.00 Current year debt paid - March 31, 2015 $ 1,073,315.00
Management’s Discussion and Analysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 23 Analysis of Debt Activity (continued) Table 9 (continued) Mortgage loan payable to the Department of Community Affairs of the State of New Jersey from the Petroleum Overcharge Reimbursement Fund in the original amount of $283,860 bearing no interest and maturing in September 2022. March 31, 2014 $ 283,860.00 Current year debt paid - March 31, 2015 $ 283,860.00 Loan payable to the Community Preservation Corporation dated December 29, 2005 in the original amount of $1,750,000. Principal and interest payments are due monthly at 4.87% maturing in March 2036. March 31, 2014 $ 1,519,279.00 Current year debt paid 40,239.00 March 31, 2015 $ 1,479,040.00 Significant economic factors affecting the Authority are as follows: • Federal funding of the US Department of Housing and Urban Development (HUD). • Local Labor supply and demand, which can affect salary and wage rates. • Local inflationary, recessionary and employment trends which can affect resident incomes and therefore, the amount of rental income. • Inflationary pressure on utility rates, supplies and other costs. Request for Information This financial report is designed to provide a general overview of the Authority’s accountability for all those interested. If you should have additional questions regarding the financial information, you can contact our office in writing at the following address: Jersey City Housing Authority Attn: Samuel Moolayil, Chief Financial Officer 400 U.S. Highway #1 (Marion Gardens) Jersey City, New Jersey 07306 
FINANCIAL STATEMENTS
See accompanying notes to financial statements. 24 JERSEY CITY HOUSING AUTHORITY STATEMENTS OF NET POSITION AS OF MARCH 31, 2015 AND 2014 ASSETS 2015 2014 Current assets: Cash and cash equivalents $ 2,917,541 $ 4,429,489 Accounts receivable, net 1,382,830 665,721 Prepaid expenses and other current assets 757,650 734,090 Inventories 23,853 17,669 Total current assets 5,081,874 5,846,969 Non-current assets: Restricted cash 2,092,317 2,063,761 Notes receivable, long term 62,274,143 60,265,485 Capital assets, net 93,407,533 97,693,809 Total non-current assets 157,773,993 160,023,055 Total assets 162,855,867 165,870,024 LIABILITIES Current liabilities: Accounts payable 300,464 1,123,534 Accrued expenses 982,512 735,421 Accrued compensated absences, current 164,842 226,664 Tenant security deposits 378,678 375,210 Current portion of capital lease 622,892 604,807 Current portion of loans and bonds payable 520,623 499,815 Other current liabilities 416,072 1,874,292 Total current liabilities 3,386,083 5,439,743 Non-current liabilities: Accrued compensated absences, net of current portion 1,483,574 2,039,949 Capital lease, net of current portion 6,843,523 7,622,510 Loans and bonds payable, net of current portion 10,401,983 10,922,612 Non-current liabilities - other 877,983 910,528 Total non-current liabilities 19,607,063 21,495,599 Total liabilities 22,993,146 26,935,342 NET POSITION Net position: Net investment in capital assets 75,018,512 78,044,065 Restricted 62,274,143 60,266,036 Unrestricted 2,570,066 624,581 Total net position $ 139,862,721 $ 138,934,682
See accompanying notes to financial statements. 25 JERSEY CITY HOUSING AUTHORITY STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 2015 2014 Operating revenues: Tenant revenue $ 9,207,090 $ 10,249,414 HUD operating grants 51,930,212 51,940,100 Other government grants - 4,540 Other revenues 831,138 762,228 Total operating revenue 61,968,440 62,956,282 Operating expenses: Administrative 7,544,974 8,379,595 Tenant services 244,774 248,376 Utilities 4,786,042 5,281,180 Ordinary maintenance and operations 6,686,516 7,442,365 Protective services 127,725 412,765 Insurance expense 739,371 1,163,024 General expenses 2,894,043 3,862,881 Extraordinary maintenance 355,923 504,655 Housing assistance payments 35,533,650 36,366,258 Depreciation 7,128,508 6,812,033 Total operating expenses 66,041,526 70,473,132 Operating gain (loss) (4,073,086) (7,516,850) Non-operating revenues (expenses): Investment income 111,199 177,168 Mortgage interest income 2,033,120 1,969,853 Interest expense (718,116) (807,836) Net non-operating revenues 1,426,203 1,339,185 Loss before capital grants (2,646,883) (6,177,665) Capital grants 3,574,922 3,391,894 Change in net position 928,039 (2,785,771) Net position, beginning of year 138,934,682 141,720,453 Net position, end of year $ 139,862,721 $ 138,934,682
See accompanying notes to financial statements. 26 JERSEY CITY HOUSING AUTHORITY STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 2015 2014 Cash Flows from Operating Activities: Cash received from grantors $ 51,126,001 $ 51,841,369 Cash received from tenants and others 10,118,030 11,038,556 Cash paid to employees (9,180,071) (8,592,775) Cash paid to suppliers and vendors (52,436,864) (54,237,022) Net cash flows provided (used) by operating activities (372,904) 50,128 Cash Flows from Capital and Related Financing Activities: Principal payments on long term debt (1,260,723) (549,332) Purchases of capital assets (2,842,232) (2,648,599) Capital grant contributions 3,574,922 3,391,894 Net cash flows provided (used) by capital and related financing activities (528,033) 193,963 Cash Flows from Investing Activities: Repayment of notes receivable - 200,000 Interest expense (718,116) (814,417) Investment income 135,661 177,168 Net cash flows provided (used) by investing activities (582,455) (437,249) Net increase (decrease) in cash (1,483,392) (193,158) Cash and cash equivalents, beginning of year 6,493,250 6,686,408 Cash and cash equivalents, end of year $ 5,009,858 $ 6,493,250 2015 2014 A reconciliation of cash and cash equivalents to Statements of Net Position is as follows: Cash and cash equivalents $ 2,917,541 $ 4,429,489 Restricted cash and cash equivalents 2,092,317 2,063,761 $ 5,009,858 $ 6,493,250
See accompanying notes to financial statements. 27 JERSEY CITY HOUSING AUTHORITY STATEMENTS OF CASH FLOWS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 2015 2014 Reconciliation of operating loss to net cash provided (used) by operating activities: Operating gain (loss) $ (4,073,086) $ (7,516,850) Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities: Depreciation 7,128,508 6,812,033 Bad debt expense 11,239 - (Gain) loss on disposal of fixed assets - 113,511 Changes in assets and liabilities: Accounts receivable - other government 30,088 32,025 Accounts receivable - HUD (834,299) (103,271) Accounts receivable - tenants (125,956) (53,585) Accounts receivable - misc 202,290 - Prepaid expenses (24,031) 61,172 Inventory (6,184) 145,164 Accounts payable (823,070) (167,118) Accrued expenses 247,091 (80,089) Accrued compensated absences (618,197) (390,740) Tenant security deposits 3,468 3,819 Other current liabilities (1,458,220) 1,149,402 Other liabilities (32,545) 44,655 Net cash provided (used) by operating activities $ (372,904) $ 50,128
28 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Organization The Housing Authority of the City of Jersey City ("Jersey City Housing Authority")("the Authority") is a governmental, public corporation created under federal and state housing laws for the purpose of engaging in the development, acquisition and administrative activities of the low-income housing program and other programs with similar objectives for low and moderate income families residing in the City of Jersey City ("the City"). The Authority is responsible for operating certain low-rent housing programs in the City under programs administered by the U.S. Department of Housing and Urban Development ("HUD"). These programs provide housing for eligible families under the United States Housing Act of 1937, as amended. The Authority is governed by an appointed board of commissioners who serve multi-year terms. The governing board is essentially autonomous but responsible to the United States Department of Housing and Urban Development ("HUD") and the Division. An executive director is appointed by the Authority's board to manage the day-to-day operations of the Authority. B. Description of Programs The Authority maintains its accounting records by program. A summary of the significant programs operated by the Authority is as follows: Low Rent Public Housing Program The public housing program is designed to provide low-cost housing. Under this program, HUD provides funding via an annual contributions contract. These funds, combined with the rental income received from tenants, are available solely to meet the operating expenses of the program. Housing Choice Vouchers The Authority administers a program of rental assistance payments to private owners on behalf of eligible low-income families under Section 8 of the Housing and Urban Development Act of 1974. The program provides payments covering the difference between the maximum rent on a dwelling unit, as approved by HUD, and the amount of rent contribution by a participating family. Public Housing Capital Fund Program The purpose of the Capital Fund Program is to provide another source of funding to cover the cost of physical and management improvements and rehabilitation on existing low-income housing and improving the central office facilities. Funding for this program is provided by grants from HUD.
29 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) B. Description of Programs (continued) Resident Opportunity and Supportive Services Program The purpose of the Resident Opportunities and Self Sufficiency (ROSS) grant program is to provide funds for job training and supportive services to help residents of public housing transition from welfare to work. ROSS also provides funding to link elderly/disabled residents to critical services which can help them continue to live independently. Revitalization of Severely Distressed Public Housing ("Hope VI") Program The purpose of the HOPE VI Program is to foster initiative and comprehensive approaches to the problems of severely distressed public housing developments and their residents, including new ways for public housing authorities and HUD to work together, in collaboration with residents. Funding for this program is provided by HUD. However, grantees are encouraged to leverage grant funds with other private or governmental funds to create additional affordable housing. Supportive Housing for Persons with Disabilities The purpose of the Supportive Housing for Persons with Disabilities Program is to expand the supply of supportive housing for very low-income persons with disabilities. Choice Neighborhoods Planning Grants Choice Neighborhoods Planning Grants support the development of comprehensive neighborhood transformation plans. The transformation plan should integrate effective strategies to implement public and/or assisted housing revitalization, the coordination and design of supportive services, including educational opportunities for children, and neighborhood-level planning to improve a range of neighborhood assets. Shelter Plus Care Program ("SPC") Shelter Plus Care is a program designed to provide housing and supportive services on a long-term basis for homeless persons with disabilities, (primarily those with serious mental illness, chronic problems with alcohol and/or drugs, and acquired immunodeficiency syndrome (AIDS) or related diseases) and their families who are living in places not intended for human habitation (e.g., streets) or in emergency shelters. Section 8 Moderate Rehabilitation Single Room Occupancy ("SRO") Under the SRO program, HUD enters into annual contribution contracts with PHA's in connection with the moderate rehabilitation of residential properties. PHA's make Section 8 rental assistance payments to participating landlords on behalf of homeless individuals who rent the rehabilitated dwellings. HUD provides rental assistance for a period up to ten (10) years. Owners are compensated for the cost of rehabilitation as well as the other costs of maintaining the property, through rental assistance payments.
30 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) C. Reporting Entity In accordance with Statement No. 61 of the Government Accounting Standards Board (“GASB”), the Authority’s basic financial statements include those of the Jersey City Housing Authority and any component units. Component units are legally separate, tax-exempt organizations whose majority of officials are appointed by the primary government or the organization is fiscally dependent on the primary government and there is a potential for those organizations either to provide specific financial benefits to, or impose specific financial burdens on, the primary government. An organization has a financial benefit or burden relationship with the primary government if any one of the following conditions exist: 1. The primary government (Authority) is legally entitled to or can otherwise access the organization's resources. 2. The primary government is legally obligated or has otherwise assumed the obligation to finance the deficits of, or provide financial support to, the organization. 3. The primary government is obligated in some manner for the debt of the organization. Based on the application of the above criteria, this report includes all programs and activities operated by the Authority. There were no additional entities required to be included in the reporting entity under these criteria in the current fiscal year. Furthermore, the Authority is not included in any other reporting entity on the basis of such criteria. D. Basis of Accounting The Authority's financial statements are prepared in accordance with GASB Statement No. 34, Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments (as amended) ("GASB 34"). GASB 34 requires the basic financial statements to be prepared using the economic resources measurement focus and the accrual basis of accounting and requires the presentation of a Statement of Net Position, a Statement of Revenues, Expenses and Changes in Net Position and Statement of Cash Flows. GASB 34 also requires the Authority to include management's discussion and analysis as part of the required supplemental information. The Authority's primary source of non-exchange revenue relates to grants and subsidies. In accordance with GASB Statement No. 33, Accounting and Financial Reporting for Non-exchange Transactions, grant and subsidy revenue are recognized at the time eligible program expenditures occur and/or the Authority has complied with the grant and subsidy requirements. In accordance with GASB Statement No. 20, Accounting and Financial Reporting for Proprietary Funds and Other Governmental Activities that Use Proprietary Fund Accounting, the Authority has elected to apply all Financial Accounting Standards Board pronouncements, Accounting Principles Board Opinions and Accounting Research Bulletins issued that do not conflict with or contradict GASB Pronouncements.
31 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) D. Basis of Accounting (continued) On January 30, 2008, HUD issued PIH Notice 2008-9 which requires housing assistance payments ("HAP") under proprietary fund be reported as restricted net assets (position), with the associated cash and investments also being reported on HUD's Financial Data Schedule ("FDS") as restricted. Any unused administrative fees should be reported as unrestricted net assets (position), with the associated assets being reported on the FDS as unrestricted. Both administrative fee and HAP revenue continue to be recognized under the guidelines set forth in GASB Statement No. 33. Accordingly, both the time and purpose restrictions as defined by GASB 33 are met when these funds are available and measurable, not when these funds are expended. The Housing Choice Voucher program is no longer a cost reimbursement grant, therefore the Authority recognizes unspent administrative fee and HAP revenue in the reporting period as revenue for financial statement reporting. Any investment income earned on these funds are reflected in the net position account on which the investment income was earned. That is; investment income earned on HAP cash balances are credited to the HAP restricted net position account and investment income earned on administrative fee cash balances are credited to the unrestricted net position account. E. Use of Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the allowance for doubtful accounts, accrued expenses and other liabilities, depreciable lives of properties and equipment, amortization of leasehold improvements and contingencies. Actual results could differ significantly from these estimates. F. Cash and Cash Equivalents New Jersey Authorities are required by N.J.S.A. 40A:5-14 to deposit public funds in a bank or trust company having its place of business in the State of New Jersey and organized under the laws of the United States or State of New Jersey or the New Jersey Cash Management Fund. N.J.S.A. 40A:5-15.1 provides a list of securities which may be purchased by New Jersey Authorities. The Authority is required to deposit funds in public depositories protected from loss under the provisions of the Governmental Unit Deposit Protection Act ("GUDPA"). GUDPA was enacted in 1970 to protect governmental units from a loss of funds on deposit with a failed banking institution in New Jersey.
32 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) F. Cash and Cash Equivalents (continued) N.J.S.A. 17:9-42 requires governmental units to deposit public funds only in public depositories located in New Jersey, when the funds are secured in accordance with the act. HUD requires housing authorities to invest excess funds in obligations of the United States, Certificates of Deposit or any other federally insured investment. HUD also requires that deposits be fully collateralized at all times. Acceptable collateralization includes FDIC insurance and the market value of securities purchased and pledged to the political subdivision. Pursuant to HUD restrictions, obligations of the United States are allowed as security for deposits. Obligations furnished as security must be held by the Authority or with an unaffiliated bank or trust company for the account of the Authority. For the statement of cash flows, cash and cash equivalents include all cash balances and highly liquid investments with a maturity of three months or less at time of purchase. It is the Authority's policy to maintain collateralization in accordance with state and HUD requirements. G. Accounts Receivable Rents are due from tenants on the first day of each month. As a result, tenants' accounts receivable balances primarily consist of rents past due and vacated tenants. Also included in accounts receivable are those amounts that tenants owe the Authority as payment for committing fraud or misrepresentation. These charges usually consist of retroactive rent and other amounts that may be determined by a formal written agreement or by a court order. An allowance for doubtful accounts is established to provide for all accounts, which may not be collected in the future for any reason. The Authority recognizes a receivable from HUD and other governmental agencies for amounts billed but not received and for amounts unbilled, but earned as of year-end. H. Prepaid Expenses Prepaid expenses represent amounts paid as of year-end that will benefit future operations. I. Inventory Inventories are valued at cost using the First in First out (FIFO) method. If inventory falls below cost due to damage, deterioration, or obsolescence, the Authority establishes an allowance for obsolete inventory. The Authority uses the consumption method for expense recognition and relies upon its periodic (annual) inventory for financial reporting purposes.
33 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) J. Capital Assets Capital assets are stated at cost. Expenditures for repairs and maintenance are charged directly to expense as they are incurred. Expenditures determined to represent additions or betterments are capitalized. Depreciation is calculated using the straight-line method based on the estimated useful lives of the following asset groups: • Buildings 27.5 - 40 Years • Furniture and Equipment 3 - 7 Years The Authority has established a capitalization threshold of $5,000. K. Compensated Absences Compensated absences are those absences for which employees will be paid, such as vacation and sick leave computed in accordance with GASB Standards. A liability for compensated absences that is attributable to services already rendered and that are not contingent on a specific event that is outside the control of the Authority and its employees, is accrued as employees earn the rights to the benefits. Compensated absences that relate to future services or that are contingent on a specific event that is outside the control of the Authority and its employees are accounted for in the period in which such services are rendered or in which such events take place. L. Prepaid Tenant Rents Prepaid tenant rents consist of rent payments made by tenants that apply to future periods. M. Operating Revenues and Expenses The Authority defines its operating revenues as income derived from charges to residents and others for services provided as well as government subsidies and grants used for operating purposes. Operating expenses are costs incurred in the operation of its program activities to provide services to residents and others. The Authority classifies all other revenues as non-operating. N. Taxes The Authority is a unit of local government under New Jersey law and is exempt from real estate, sales and income taxes.
34 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) O. Equity Classifications Equity is classified as net position and displayed in three components: Net investment in capital assets - Consists of capital assets including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, construction or improvement of those assets. Restricted net position - Consists of the net amount of assets with constraints placed on the use either by (1) external groups such as creditors, grantors, contributors, laws or regulations of other governments; or (2) law through constitutional provisions or enabling legislation. Unrestricted net position - All other net amount of assets that do not meet the definition of "restricted" or "net investment in capital assets." P. Economic Dependency The Section 8 and Low Rent Public Housing programs of the Authority are economically dependent on operating grants and subsidies from HUD. The programs operate at a loss prior to receiving grants and subsidies. Q. Budgets and Budgetary Accounting The Authority adopts annual, appropriated operating budgets for all its programs receiving federal expenditure awards. All budgets are prepared on a HUD basis, which differs with accounting principles generally accepted in the United States of America. All appropriations lapse at HUD's program year end or at the end of grant periods. The Authority also submits its annual entity-wide operating and capital budget to the State of New Jersey Department of Consumer Affairs in accordance with New Jersey State Law. NOTE 2. CASH AND CASH EQUIVALENTS At March 31, 2015 and 2014, the Authority had funds on deposit in checking accounts. All bank deposits as of the balance sheet date are entirely insured or collateralized by a collateral pool maintained by public depositories as required by New Jersey law. For the fiscal year ended March 31, 2015 and 2014, the carrying amount of the Authority's cash (including restricted cash) were $5,009,858 and $6,493,250, respectively. The bank balances were $6,910,146 and $6,979,424, respectively.
35 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 2. CASH AND CASH EQUIVALENTS (continued) Cash and cash equivalents consist of the following: Cash Category 2015 2014 Unrestricted $ 2,538,863 $ 4,054,279 Tenant security deposits 378,678 375,210 Restricted 2,092,317 2,063,761 $ 5,009,858 $ 6,493,250 Of the bank balances, $1,600,000 and $1,735,694 were covered by federal depository insurance and the remaining $5,310,146 and $5,243,730 were collateralized with the pledging financial institutions for the fiscal years ended March 31, 2015 and 2014. Depository Account 2015 2014 Insured: FDIC $ 1,600,000 $ 1,735,694 Collateralized: GUDPA 5,310,146 5,243,730 $ 6,910,146 $ 6,979,424 Custodial credit risk is the risk that, in the event of a bank failure, the government's deposits may not be returned to it. The Authority does not have a formal policy for custodial credit risk. As of March 31, 2015 and 2014, the Authority's bank balances were not exposed to custodial credit risk. NOTE 3. ACCOUNTS RECEIVABLE, NET Accounts receivable, net consists of the following at March 31, 2015 and 2014: Description 2015 2014 Accounts receivable - HUD $ 993,704 $ 159,405 Accounts receivable - tenants, net 389,126 273,938 Accounts receivable - other government - 30,088 Accounts receivable - miscellaneous - 202,290 Total accounts receivable, net $ 1,382,830 $ 665,721
36 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 3. ACCOUNTS RECEIVABLE, NET (continued) Accounts receivable - HUD Accounts receivable - HUD represents amounts due to the Authority for amounts expended under grant agreements that have not yet been reimbursed. At March 31, 2015 and 2014, Accounts receivable - HUD consisted of reimbursable expenses within the following grants: Program 2015 2014 Section 8 Moderate Rehabilitation Single Room Occupancy $ 270,798 $ 159,405 Housing Choice Voucher Program 722,906 - $ 993,704 $ 159,405 Accounts receivable - tenants Accounts receivable - tenants represents amounts due for tenant rents and at March 31, 2015 and 2014 are shown net of an allowance for doubtful accounts of $120,542 and $107,962, respectively. Accounts receivable - other government Accounts receivable - other government consists of amounts that are due from an Affordable Housing Trust Fund Grant that was awarded by the City of Jersey City. At March 31, 2015, the amounts owed to the Authority for these fees were collected. Accounts receivable - misc. Accounts receivable - misc. consists of amounts owed to the COCC from the County of Hudson and Hope VI fees owed from tax credit properties. As of March 31, 2015, the amounts were collected. NOTE 4. INVENTORY Inventory consists of materials and supplies and fuel which is valued at its lower of cost or market using the first-in first-out method.
37 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 5. NOTES RECEIVABLE The Authority has utilized Hope VI and other development funds in accordance with HUD guidelines to assist the construction of numerous public housing developments through the issuance of mortgage loans. Outstanding notes receivable as of March 31, 2015 and 2014 consisted of the following: 2015 2014 The Authority issued a second mortgage loan receivable from A. Harry Moore Phase I Associates, LLC in the original amount of $2,961,966. Interest accrues at 6% annually whereby principal and interest are due in 40 years (2046). The mortgage is secured by the rental property. Amounts owed under the mortgage at March 31, 2015 and 2014 include $1,258,698 and $1,019,792 of accrued interest, respectively. $ 4,220,664 $ 3,981,758 The Authority issued 3rd, 4th and 5th mortgage loans to A. Harry Moore Phase II Associates, L.L.C in the original amount of $4,359,202. The 3rd and 4th mortgage loans accrue interest at 6.25% annually. The 5th mortgage loan is interest free. Principal and interest on the mortgages are due in forty years (2046 - 2048) The mortgages are secured by the rental property. Amounts owed under the mortgages at March 31, 2015 and 2014 includes $1,874,919 and $1,457,912 of accrued interest, respectively. 6,144,121 5,817,114 The Authority has a second mortgage loan receivable from Lafayette Family Phase III Urban Renewal Associates, L.P. in the original amount of $6,603,606. Interest accrues at 4.387% annually whereby amounts are paid from project cash flow. Principal and interest are due on December 31, 2049. The mortgage is secured by the rental property. Amounts owed under the mortgage at March 31, 2015 and 2014 include $1,777,915 and $1,478,009 of accrued interest, respectively. 8,381,521 8,081,615 The Authority issued a loan to Lafayette Community Limited Partnership in the original amount of $10,146,093. The loan accrues interest at 7% annually and is payable out of available cash flow. The loan bore interest at an annual rate of 7% until September 1, 2002 and thereafter bears no interest. The loan matures on September 6, 2057 and is secured by the rental property. 10,284,828 10,309,285
38 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 5 NOTES RECEIVABLE (continued) 2015 2014 The Authority issued a second mortgage loan receivable from Lafayette Family Phase II Urban Renewal Associates, L.P. in the original amount of $5,001,149 Interest accrues at 4.83% annually whereby amounts are paid from project cash flow. Principal and interest are due in April, 2047. The mortgage is secured by the rental property. Amounts owed under the mortgage at March 31, 2015 and 2014 includes $2,748,078 and $2,391,035 of accrued interest, respectively. 7,749,227 7,392,184 The Authority issued 2nd, 3rd, 4th and 5th mortgage loans to Dwight Street Urban Renewal Associates, L.P. in the original amount of $4,162,337 The 2nd and 3rd mortgage loans accrue interest at 4.5% per annum and are due in February, 2049. The 4th and 5th mortgage loans are non-interest bearing and are due in July, 2050. The mortgages are secured by rental property. Amounts owed under the mortgages at March 31, 2015 and 2014 include $945,753 and $761,676 of accrued interest, respectively. 5,108,090 4,924,013 The Authority issued 3rd, 4th, 5th and 6th mortgage loans to Lafayette Senior Living Center, L.P. in the original amount of $1,409,681. The 4th and 5th mortgage loans accrue interest at 4.68% annually. The 3rd and 6th mortgage loans are interest free. Principal and interest on the mortgages are due on May 30, 2048. The mortgages are secured by the rental property. Amounts owed under the mortgages at March 31, 2015 and 2014 include $162,947 and $143,107 of accrued interest, respectively. 1,572,628 1,552,788 The Authority issued three loans to Lafayette Family Urban Renewal Associates, L.P. in the original amount of $6,099,341. The loan accrues interest at rates of 0%, 1% and 5.02% annually and is payable out of available cash flow. The loans matures at various periods between 2047 and 2052 and is secured by the rental property. Amounts owed under the mortgages at March 31, 2015 and 2014 include $2,884,396 and $2,489,108 of accrued interest, respectively. 8,983,737 8,588,449 The Authority has a mortgage loan receivable in the amount of $3,500,000 from AHM Housing Urban Renewal Associates, LLC. Interest accrues at 5.715%, however it is capped at $200,000. Principal and interest are due on October 28, 2060. The mortgage is secured by the underlying property. Amounts owed under the mortgage at March 31, 2015 and 2014 include $- and $200,000 of accrued interest, respectively. 3,500,000 3,500,000
39 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 5 NOTES RECEIVABLE (continued) 2015 2014 The Authority made a $400,000 HOME loan to AHM Housing Urban Renewal Associates LLC. The loan bears no interest and payments are only due from available cash flow. The outstanding loan matures on October 28, 2060. 400,000 400,000 HOPE VI mortgage loan receivable from Glennview Townhouses Urban Renewal Associates, LP. in the original amount of $5,000,000. The loan bears interest at 4.5%, compounded annually and matures January 1, 2051. Amounts owed under the mortgage at March 31, 2015 and 2014 include $929,327 and $718,279 of accrued interest, respectively. 5,929,327 5,718,279 Total notes receivable $ 62,274,143 $ 60,265,485 The current portion on notes receivable is expected to be $-0-. NOTE 6. RESTRICTED CASH Restricted cash consists of the following at March 31, 2015 and 2014: Cash Category 2015 2014 State Leveraging Fund $ 458,816 $ 457,852 Section 8 HAP Equity - 551 Family Self Sufficiency ("FSS") Program escrows 286,443 282,789 Dwight Street Home Ownership 591,540 627,739 Bergen Avenue project reserves 428,776 392,718 Arlington Gardens project reserves 326,742 302,112 $ 2,092,317 $ 2,063,761 State leveraging funds are held in trust at Wells Fargo bank as a reserve for debt service . Housing assistance payment reserves are restricted for use only in the Housing Choice Voucher Program for future housing assistance payments. FSS program escrows are restricted for use by FSS program participants within the Housing Choice Voucher Program. Dwight Street Home Ownership funds are restricted for the purpose of the development of the Dwight Street master plan.
40 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 6. RESTRICTED CASH (continued) Bergen Avenue project reserves are controlled by the New Jersey Housing Mortgage Finance Agency for certain capital and other project expenditures within 254 Bergen Avenue. Arlington Gardens project reserves are held in a separate bank account for certain capital and other project expenditures. NOTE 7. CAPITAL ASSETS, NET Capital assets consist primarily of expenditures to acquire, construct, place in operation and improve the facilities of the Authority and are stated at cost, less accumulated depreciation. The following is a summary of the changes in capital assets for the fiscal year ended March 31, 2015 and 2014: Balances at March 31, 2014 Additions Dispositions Transfers Balances at March 31, 2015 Non-depreciable capital assets: Land $ 5,265,611$ - $ - $ - $ 5,265,611 Construction in progress 7,341,820 2,842,232 - - 10,184,052 Total 12,607,431 2,842,232 - - 15,449,663 Depreciable capital assets: Buildings 195,468,595 - - - 195,468,595 Dwelling equipment 907,245 - - - 907,245 Site improvements 62,475 - - - 62,475 Total 196,438,315 - - - 196,438,315 Total capital assets 209,045,746 2,842,232 - - 211,887,978 Accumulated depreciation (111,351,937) (7,128,508) - - (118,480,445) Net capital assets $ 97,693,809$ (4,286,276)$ - $ - $ 93,407,533 Balances at March 31, 2013 Additions Disposition Transfers Balances at March 31, 2014 Non-depreciable capital assets: Land $ 5,265,611$ - $ - $ - $ 5,265,611 Construction in progress 16,817,314 2,648,599 (113,511) (12,010,582) 7,341,820 Total 22,082,925 2,648,599 (113,511) (12,010,582) 12,607,431 Depreciable capital assets: Buildings 183,458,013 - - 12,010,582 195,468,595 Dwelling equipment 907,245 - - - 907,245 Site improvements 62,475 - - - 62,475 Total 184,427,733 - - 12,010,582 196,438,315 Total capital assets 206,510,658 2,648,599 (113,511) - 209,045,746 Accumulated depreciation (104,539,904) (6,812,033) - - (111,351,937) Net capital assets $ 101,970,754$ (4,163,434)$ (113,511)$ - $ 97,693,809 Depreciation expense for the fiscal year ended March 31, 2015 and 2014 amounted to $7,128,508 and $6,812,033, respectively.
41 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 8. ACCOUNTS PAYABLE As of March 31, 2015 and 2014, the Authority has a total accounts payable balance of $300,464 and $1,123,534, respectively, which consisted of the following: 2015 2014 Accounts payable - operations $ 297,096 $ 587,593 Accounts payable - HUD 3,368 35,329 Accounts payable - other governments - 500,612 $ 300,464 $ 1,123,534 NOTE 9. NON-CURRENT LIABILITIES BONDS AND LOANS 2015 2014 During 2007, the Authority entered into a Capital Fund leveraging pool. The New Jersey Housing and Mortgage Finance Agency ("NJHMFA") issued tax exempt, twenty year Capital Fund Program Revenue Bonds totaling $18,585,000. The Authority's share of funds from the bond issue pool amounted to $10,000,000. Interest accrues at rates between 4% and 5% and is payable semi-annually on May 1st and November 1st. Repayment of the funds shall be paid solely from Capital Fund allocations received by the Authority from the Department of Housing and Urban Development. $ 7,570,000 $ 7,980,000 Mortgage Loan payable to NJHMFA in connection with the development of 254 Bergen Ave. The loan with the original amount of $1,077,250 carries an annual interest rate of 7.75%, requires monthly principal and interest payments of $7,787, matures in September, 2022 and is secured by a first mortgage on the rental property. 516,391 565,973 Mortgage loan payable to the Department of Community Affairs of the State of New Jersey as part of the Balanced Housing Program in the original amount of $1,073,315. The loan is interest free, matures in September, 2022 and is secured by a second mortgage on the property at 254 Bergen Avenue. 1,073,315 1,073,315 Mortgage loan payable to the Department of Community Affairs of the State of New Jersey from the Petroleum Overcharge Reimbursement Fund in the original amount of $283,860. The loan is interest free, matures in September, 2022 and is secured by a third mortgage on the property at 254 Bergen Avenue. 283,860 283,860
42 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 9. NON-CURRENT LIABILITIES (continued) BONDS AND LOANS (continued) 2015 2014 Loan payable to the Community Preservation Corporation dated December 29, 2005 in the original amount of $1,750,000 for the acquisition of the Arlington Gardens property. Principal and interest payments are due monthly in the amount of $9,332 including interest at 4.87%. The loan matures in March, 2036 and is secured by the property located at 301-305 Randolph Ave. 1,479,040 1,519,279 Total bonds and loans payable 10,922,606 11,422,427 Less: current portion 520,623 499,815 Bonds and loans payable, excluding current portion $ 10,401,983 $ 10,922,612 CAPITAL LEASE 2015 2014 The Authority entered into a lease purchase agreement on November 23, 2010 for energy savings equipment expiring in November, 2025. The assets recorded under the capital lease totaled $8,500,000, and are included in capital assets on the Statements of Net Position. Under terms of the lease, interest accrued at 5.32% from lease inception through May, 2012 at which time payments of $69,950 including interest at 2.95 will be made through termination. The assets are depreciated over the shorter of the lease term or the estimated useful life. Depreciation expense of the assets under the capital lease are included in operating expenses. $ 7,466,415 $ 8,227,317 Less: current portion 622,892 604,807 Capital lease, excluding current portion $ 6,843,523 $ 7,622,510 Annual debt service for principal and interest over the next five years and in five-year increments thereafter are as follows: Year Principal Interest Total 2016 1,143,515 684,675 1,828,190 2017 1,186,772 643,039 1,829,811 2018 1,232,534 597,824 1,830,358 2019 1,284,319 548,791 1,833,110 2020 1,337,177 495,809 1,832,986 2021-2025 8,480,207 1,610,485 10,090,692 2026-2030 3,148,357 360,621 3,508,978 2031-2035 475,886 84,035 559,921 2036 100,254 2,412 102,666 $ 18,389,021 $ 5,027,691 $ 23,416,712
43 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 9. NON-CURRENT LIABILITIES (continued) COMPENSATED ABSENCES Accrued compensated absences represents the amount of accumulated leave for which employees are entitled to receive payment in accordance with the Authority's Personnel Policy. OTHER LIABILITIES Description 2015 2014 FSS Escrows $ 286,443 $ 282,789 Construction contract retention 28,535 17,301 Homeownership escrow accounts 591,540 627,739 Utility accruals 387,537 1,856,991 Total 1,294,055 2,784,820 Due within one year 416,072 1,874,292 Non-current portion $ 877,983 $ 910,528 Long-term debt activity for the years ended March 31,2015 and 2014 consisted of the following: Description March 31, 2014 Increases Decreases March 31, 2015 Amounts due within one year Bonds and loans $ 11,422,427 $ - $ (499,821) $ 10,922,606 $ 520,623 Capital lease 8,227,317 - (760,902) 7,466,415 622,892 Compensated absences 2,266,613 1,118,572 (1,736,769) 1,648,416 164,842 Other liabilities 2,784,820 751,263 (2,242,028) 1,294,055 416,072 $ 24,701,177 $ 1,869,835 $ (5,239,520) $ 21,331,492 $ 1,724,429 Description March 31, 2013 Increases Decreases March 31, 2014 Amounts due within one year Bonds and loans $ 11,896,800 $ - $ (474,373) $ 11,422,427 $ 499,815 Capital lease 8,302,276 - (74,959) 8,227,317 604,807 Compensated absences 2,657,353 1,174,501 (1,565,241) 2,266,613 226,664 Other liabilities 1,590,763 2,951,659 (1,757,602) 2,784,820 1,874,292 $ 24,447,192 $ 4,126,160 $ (3,872,175) $ 24,701,177 $ 3,205,578
44 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 10. PENSION PLAN A. Description of Plans All required employees of the Authority are covered by the Public Employees' Retirement System which has been established by state statute and is administered by the New Jersey Division of Pension and Benefits ("Division"). According to the State of New Jersey Administrative Code, all obligations of the System will be assumed by the State of New Jersey should the System terminate. The Division issues a publicly available financial report that includes the financial statements and required supplementary information for the Public Employees Retirement System. This report may be obtained by writing to the Division of Pensions and Benefits, PO Box 295, Trenton, New Jersey, 08625. B. Public Employees' Retirement System (PERS) The Public Employees' Retirement System ("PERS") was established as of January 1, 1955 under the provisions of N.J.S.A. 43:15A to provide retirement, death, disability and medical benefits to certain qualified members. The Public Employees' Retirement System is a cost-sharing multiple-employer plan. Membership is mandatory for substantially all full-time employees of the State of New Jersey or any county, municipality, school district, or public agency, provided the employee is not required to be a member of another state-administered retirement system or other state or local jurisdiction. Medical benefits are now provided by the State Health Benefits Program. C. Vesting and Benefit Provisions The vesting and benefit provisions for PERS are set by N.J.S.A. 43:15A and 43:3B. All benefits vest after ten years of service, except for medical benefits that vest after 25 years of service. Retirement benefits for age and service are available at age 60 and are generally determined to be 1/55 of the final average salary for each year of service credit, as defined. Final average salary equals the average salary for the final three years of service prior to retirement (or highest three years' compensation if other than the final three years). Members may seek early retirement after achieving 25 years of service credit or they may elect deferred retirement after achieving eight to ten years of service in which case benefits would begin the first day of the month after the member attains normal retirement age. Members are always fully vested for their own contributions and, after three years of service credit, become vested for interest earned on the contributions. In the case of death before retirement, members' beneficiaries are entitled to full interest credited to the members' accounts.
45 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 10. PENSION PLAN (continued) D. Contribution Requirements – PERS The contribution policy is set by N.J.S.A. 43:15A and requires contributions by active members and contributing employers. Plan member and employer contributions may be amended by State of New Jersey legislation. Members contribute at a uniform rate. The full normal employee contribution rate became 5.5% of annual compensation, effective July 1, 2007 for most PERS state employees and effective July 1, 2008 for PERS local employees, based on Chapter 103, P.L. 2007. Pursuant to the provisions of Chapter 78, P.L. 2011, the active member contribution rate increased from 5.5% of annual compensation to 6.5% plus an additional 1% phased-in over 7 years beginning in the first year. For fiscal year 2012, the member contribution rate increased in October 2011. The phase-in of the additional incremental member contribution rate will take place in July of each subsequent fiscal year. Employers’ contribution amounts are based on an actuarially determined rate. The annual employer contributions include funding for basic retirement allowances, cost-of-living adjustments, and non-contributory death benefits. Chapter 19, P.L. 2009, effective March 17, 2009, provided an option for local employers to contribute 50% of the normal and accrued liability contribution amounts certified by PERS for payment due in State fiscal year 2009. This law also provided that a local employer may pay 100% of the required contribution. Such an employer will be credited with the full payment and any such amounts will not be included in their unfunded liability. The actuaries for PERS will determine the unfunded liability of those retirement systems, by employer, for the reduced normal and accrued liability contributions provided under this law. This unfunded liability will be paid by the employer in level annual payments over a period of 15 years beginning with the payments due in the State fiscal year ending June 30, 2012 and will be adjusted by the rate of return on the actuarial value of assets. Three Year Trend Information for PERS Year Funding Annual Pension Cost (APC) Percentage of APC Contributed Net Pension Obligation March 31, 2015 $ 1,123,862 100 $ - March 31, 2014 $ 1,103,948 100 $ - March 31, 2013 $ 1,170,858 100 $ - NOTE 11. POST-RETIREMENT BENEFITS The Authority participates in the New Jersey State Health Benefits Program ("the SHBP"), which qualifies as a cost-sharing, multiple-employer plan in accordance with GASB Statement 45 "Accounting and Financial Reporting by Employers for Post-employment Benefits Other Than Pensions" ("OPEB"). The SHBP is administered by the State of New Jersey, Department of Treasury, Division of Pension and Benefits.
46 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 11. POST-RETIREMENT BENEFITS (continued) Under the SHBP, retirees may continue the health benefits programs in which they are enrolled at the time of retirement, provided the retiree pays the costs of the benefits (at group rates) for themselves and their eligible dependents. A retiree may also receive Authority-paid health benefits in accordance with labor agreements if they have twenty-five (25) or more years enrolled in the pension system. Contribution Requirements – SHBP Contributions to pay for the health premiums of participating employees in the SHBP – Local are collected from the State of New Jersey, participating local employers, active members, and retired members. Local employer payments and active and retired member contributions are generally received on a monthly basis. Local group employees are not affected by the premium sharing provisions of Chapter 8, P.L. 1996. Chapter 2, P.L. 2010, effective May 21, 2010, requires a minimum contribution of 1.5% of base salary toward the cost of health care benefits coverage by all active public employees. Employees of the State, local governments, and boards of education who become a member of a State or locally-administered retirement system on or after the law’s effective date would be required to pay in retirement 1.5% of their pension benefit toward the cost of health care coverage under the SHBP. Chapter 78, P.L. 2011, effective June 28, 2011, established new employee contribution requirements towards the cost of employer provided health benefit coverage. Employees are required to contribute a certain percentage of the cost of coverage. The rate of contribution is determined based on the employee’s annual salary and the selected level of coverage. The increased employee contributions will be phased in over a 4-year period for those employed prior to Chapter 78’s effective date with a minimum contribution required to be at least 1.5% of salary. For those employed on or after June 28, 2011, the 4-year phase-in does not apply and contributions based on the full percentage rate of contribution are required. Under Chapter 78, certain future retirees eligible for employer-paid health care coverage at retirement will also be required to pay a percentage of the cost of their medical coverage determined on the basis of their annual retirement benefit. The State of New Jersey, Department of the Treasury, Division of Pensions and Benefits, issues publicly available financial reports that include the financial statements and required supplementary information of the SHBP. The financial reports may be obtained by writing to the State of New Jersey, Department of the Treasury, Division of Pensions and Benefits, P.O. Box 295, Trenton, New Jersey 08625-0295.
47 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 11. POST-RETIREMENT BENEFITS (continued) Contribution Requirements – SHBP (continued) The SHBP is established under the authority of N.J.S.A. 52:14-17.25 et seq. and regulations adopted by the State Health Benefits Commission. The required contribution rate is determined on an annual pay as you go basis. The following were the required contributions to the SHBP: Year Amount 2015 $ 4,162,931 2014 $ 4,023,924 2013 $ 3,967,443 NOTE 12. RESTRICTED NET POSITION Restricted net position consists of the following at March 31, 2015 and 2014: Description 2015 2014 HOPE VI and development loan reserves $ 62,274,143 $ 60,265,485 Housing assistance payments reserve - HAP equity - 551 $ 62,274,143 $ 60,266,036 Hope VI and development loan reserves and the related accrued interest are restricted for public housing development upon collection of the loan and related accrued interest. Accumulating earnings in connection with the overpayment of housing assistance payments are restricted for rent payments to landlords as part of the Housing Choice Voucher program and the Veterans Affairs Supportive Housing program. NOTE 13. HUD REPAYMENT AGREEMENT In 2013, the Authority entered into an agreement with HUD which requires the Low Rent Housing Program to repay advances from the Housing Choice Voucher Program over a ten (10) year period. The original repayment amount totaled $1,487,094. As of March 31, 2015 and 2014, $- and $126,982, respectively was owed under this agreement. In accordance with GASB 34, these inter-program loans have been eliminated for financial statement presentation. NOTE 14. RISK MANAGEMENT The Authority is exposed to various risks of loss related to torts, theft, damage, and destruction of assets; errors and omissions; and natural disasters. The Authority maintains insurance policies acquired from independent insurance covering all structural property, automobiles, crime coverage, personal property and general liability. Settlement amounts have not exceeded insurance coverage for the last three years.
48 JERSEY CITY HOUSING AUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 15. CONTINGENCIES The Authority receives financial assistance from HUD in the form of grants and subsidies. Entitlement to the funds is generally conditional upon compliance with terms and conditions of the grant agreements and applicable regulations, including the expenditure of the funds for eligible purposes. Substantially all grants, entitlements and cost reimbursements are subject to financial and compliance audits by HUD. As a result of these audits, costs previously reimbursed could be disallowed and require payments to HUD. As of March 31, 2015 and 2014, the Authority estimates that no material liabilities will result from such audits. NOTE 16. SUBSEQUENT EVENTS Events that occur after the financial statement date but before the financial statements were available to be issued must be evaluated for recognition or disclosure. The effects of subsequent events that provide evidence about conditions that existed at the financial statement date are recognized in the accompanying financial statements. Subsequent events which provide evidence about conditions that existed after the financial statement date require disclosure in the accompanying notes to the financial statements. Management evaluated the activity of the Authority through October 31, 2015 (the date the financial statements were available to be issued) and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.
252 Washington Street 732-503-4257 Main Suite B 732-341-1424 Fax Toms River, NJ 08753 www.falloncpa.com 49 INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Board of Commissioners Jersey City Housing Authority: We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the Jersey City Housing Authority, as of and for the year ended March 31, 2015, and the related notes to the financial statements, which collectively comprise Jersey City Housing Authority's basic financial statements, and have issued our report thereon dated October 31, 2015. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the Jersey City Housing Authority's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Jersey City Housing Authority's internal control. Accordingly, we do not express an opinion on the effectiveness of Jersey City Housing Authority's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
50 INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS (continued) Compliance and Other Matters As part of obtaining reasonable assurance about whether Jersey City Housing Authority's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. October 31, 2015 Toms River, New Jersey
252 Washington Street 732-503-4257 Main Suite B 732-341-1424 Fax Toms River, NJ 08753 www.falloncpa.com 51 INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 AND STATE OF NEW JERSEY OMB CIRCULAR 04-04 Board of Commissioners Jersey City Housing Authority: Report on Compliance for Each Major Federal Program We have audited the Jersey City Housing Authority's compliance with the types of compliance requirements described in the OMB Circular A-133 Compliance Supplement and the State of New Jersey OMB Circular 04-04 that could have a direct and material effect on each of Jersey City Housing Authority's major federal programs for the year ended March 31, 2015. Jersey City Housing Authority's major federal programs are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs. Management’s Responsibility Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its federal programs. Auditor’s Responsibility Our responsibility is to express an opinion on compliance for each of Jersey City Housing Authority's major federal programs based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations and the State of New Jersey OMB Circular 04-04. Those standards, OMB Circular A-133 and the State of New Jersey OMB Circular 04-04 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about Jersey City Housing Authority's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program. However, our audit does not provide a legal determination of Jersey City Housing Authority's compliance.
52 INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 AND STATE OF NEW JERSEY OMB CIRCULAR 04-04 (continued) Opinion on Each Major Federal Program In our opinion, the Jersey City Housing Authority complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended March 31, 2015. Report on Internal Control Over Compliance Management of Jersey City Housing Authority is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered Jersey City Housing Authority's internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and to test and report on internal control over compliance in accordance with OMB Circular A-133, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of Jersey City Housing Authority's internal control over compliance. A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of OMB Circular A-133. Accordingly, this report is not suitable for any other purpose. October 31, 2015 Toms River, New Jersey
SUPPLEMENTAL INFORMATION
53 JERSEY CITY HOUSING AUTHORITY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED MARCH 31, 2015 Federal Grantor/Program Title Federal CFDA Number State Pass-throug h Number Grant Period From / To Grant Award Fiscal Year Cash Receipts Fiscal Year Expenditures Cumulative - Expenditures U.S. Department of Housing and Urban Dev. Low Rent Public Housing: NJ009-00000214D 14.850 N/A 1/1/14 12/31/14 $ 1,406,391 $ 1,052,715 $ 1,052,715 $ 1,406,391 NJ009-00000215D 14.850 N/A 1/1/15 12/31/15 1,820,022 393,144 393,144 393,144 NJ009-00000314D 14.850 N/A 1/1/14 12/31/14 1,647,602 1,306,539 1,306,539 1,647,602 NJ009-00000315D 14.850 N/A 1/1/15 12/31/15 1,794,295 377,897 377,897 377,897 NJ009-00000414D 14.850 N/A 1/1/14 12/31/14 750,709 594,831 594,831 750,709 NJ009-00000415D 14.850 N/A 1/1/15 12/31/15 905,728 185,587 185,587 185,587 NJ009-00000514D 14.850 N/A 1/1/14 12/31/14 884,516 695,258 695,258 884,516 NJ009-00000515D 14.850 N/A 1/1/15 12/31/15 1,007,271 210,965 210,965 210,965 NJ009-00000614D 14.850 N/A 1/1/14 12/31/14 2,320,468 1,755,665 1,755,665 2,320,468 NJ009-00000615D 14.850 N/A 1/1/15 12/31/15 1,396,725 340,091 340,091 340,091 NJ009-00000814D 14.850 N/A 1/1/14 12/31/14 875,347 655,217 655,217 875,347 NJ009-00000815D 14.850 N/A 1/1/15 12/31/15 1,606,085 264,160 264,160 264,160 NJ009-00000914D 14.850 N/A 1/1/14 12/31/14 1,008,111 759,605 759,605 1,008,111 NJ009-00000915D 14.850 N/A 1/1/15 12/31/15 1,322,541 271,701 271,701 271,701 NJ009-000001014D 14.850 N/A 1/1/14 12/31/14 8,322 6,229 6,229 8,322 NJ009-000001015D 14.850 N/A 1/1/15 12/31/15 648 648 648 648 NJ009-000001214D 14.850 N/A 1/1/14 12/31/14 250,810 187,737 187,737 250,810 NJ009-000001215D 14.850 N/A 1/1/15 12/31/15 272,820 68,085 68,085 68,085 NJ009-000001314D 14.850 N/A 1/1/14 12/31/14 469,069 351,109 351,109 469,069 NJ009-000001315D 14.850 N/A 1/1/15 12/31/15 489,514 122,163 122,163 122,163 NJ009-000001414D 14.850 N/A 1/1/14 12/31/14 211,740 158,492 158,492 211,740 NJ009-000001415D 14.850 N/A 1/1/15 12/31/15 257,385 64,233 64,233 64,233 NJ009-000001514D 14.850 N/A 1/1/14 12/31/14 229,831 172,034 172,034 229,831 NJ009-000001515D 14.850 N/A 1/1/15 12/31/15 252,931 63,121 63,121 63,121 NJ009-000001614D 14.850 N/A 1/1/14 12/31/14 139,100 104,119 104,119 139,100 NJ009-000001615D 14.850 N/A 1/1/15 12/31/15 147,451 35,352 35,352 35,352 NJ009-000001714D 14.850 N/A 1/1/14 12/31/14 221,578 165,856 165,856 221,578 NJ009-000001715D 14.850 N/A 1/1/15 12/31/15 230,043 57,409 57,409 57,409
54 JERSEY CITY HOUSING AUTHORITY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 Federal Grantor/Program Title Federal CFDA Number State Pass-throug h Number Grant Period From / To Grant Award Fiscal Year Cash Receipts Fiscal Year Expenditures Cumulative - Expenditures Low Rent Public Housing: NJ009-000001814D 14.850 N/A 1/1/14 12/31/14 176,121 131,831 131,831 176,121 NJ009-000001815D 14.850 N/A 1/1/15 12/31/15 209,879 52,377 52,377 52,377 NJ009-000001914D 14.850 N/A 1/1/14 12/31/14 263,067 196,911 196,911 263,067 NJ009-000001915D 14.850 N/A 1/1/15 12/31/15 260,297 64,959 64,959 64,959 NJ009-000002014D 14.850 N/A 1/1/14 12/31/14 251,099 187,953 187,953 251,099 NJ009-000002015D 14.850 N/A 1/1/15 12/31/15 241,314 60,222 60,222 60,222 NJ009-000002114D 14.850 N/A 1/1/14 12/31/14 171,511 128,380 128,380 171,511 NJ009-000002115D 14.850 N/A 1/1/15 12/31/15 220,691 55,075 55,075 55,075 NJ009-000002214D 14.850 N/A 1/1/14 12/31/14 87,205 65,275 65,275 87,205 NJ009-000002215D 14.850 N/A 1/1/15 12/31/15 82,527 15,287 15,287 15,287 Grant Subtotal 23,890,764 11,378,232 11,378,232 11,616,885 Section 8 Housing Choice Voucher Program: NJ009-2FPH-2015 14.871 N/A 4/1/14 3/31/15 37,280,858 36,557,952 37,616,063 37,616,063 Lower Income HAP Section 8 Mod Rehab: NJ009SRO0001 14.856 N/A 4/1/14 3/31/15 822,801 711,408 822,801 822,801 Public Housing Capital Fund Program: NJ39P009501-09 14.872 N/A 9/15/09 9/14/14 5,419,853 278,549 278,549 5,419,853 NJ39P009501-10 14.872 N/A 7/15/10 7/14/14 5,599,087 9,502 9,502 5,599,087 NJ39P009501-11 14.872 N/A 8/3/11 8/2/15 4,791,622 1,138,340 1,138,340 4,767,408 NJ39P009501-11C 14.872 N/A 8/3/11 8/2/16 998,640 1,052 1,052 10,524 NJ39P009501-12 14.872 N/A 3/12/12 3/11/16 3,872,643 959,279 959,279 2,992,052 NJ39P009501-13 14.872 N/A 9/9/13 9/8/15 3,728,805 1,243,461 1,243,461 2,140,631 NJ39P009501-13E 14.872 N/A 9/9/12 9/8/17 250,000 164,000 164,000 164,000 NJ39P009501-14 14.872 N/A 5/13/14 5/12/18 3,821,981 1,119,040 1,119,040 1,119,040 CFP Subtotal 28,482,631 4,913,223 4,913,223 22,212,595
55 JERSEY CITY HOUSING AUTHORITY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 Federal Grantor/Program Title Federal CFDA Number State Pass-throug h Number Grant Period From / To Grant Award Fiscal Year Cash Receipts Fiscal Year Expenditures Cumulative - Expenditures Public Housing Capital Fund Program: NJ39R009502-09 14.872 N/A 9/15/09 10/29/15 705,334 3,273 3,273 73,806 NJ39R009501-10 14.872 N/A 9/15/09 10/29/15 510,799 - - 51,079 NJ39R009502-10 14.872 N/A 7/15/10 10/29/15 701,776 - - 70,177 NJ39R009501-11 14.872 N/A 8/3/11 8/2/15 115,752 - - 11,575 NJ39R009502-11 14.872 N/A 8/3/11 10/29/15 424,259 - - 42,426 NJ39R009501-12 14.872 N/A 3/12/12 10/29/18 747,574 - - 74,758 NJ39R009502-12 14.872 N/A 3/12/12 10/29/18 98,663 - - 9,866 RHF Subtotal 3,304,157 3,273 3,273 333,687 Grant Subtotal 31,786,788 4,916,496 4,916,496 22,546,282 Shelter Plus Care: NJ0226C2F060900 14.238 N/A 4/1/14 3/31/15 218,049 218,049 218,049 218,049 NJ0288C2F061000 14.238 N/A 4/1/14 3/31/15 113,325 113,325 113,325 113,325 NJ0227C2F060900 14.238 N/A 4/1/14 3/31/15 46,346 46,346 46,346 43,346 NJ0229C2F060900 14.238 N/A 4/1/14 3/31/15 111,685 111,685 111,685 111,685 Grant Subtotal 489,405 489,405 489,405 486,405 Revitalization of Distressed Public Housing: NJ39URD009I101 14.866 N/A 4/16/02 12/31/16 34,140,000 177,032 177,032 31,085,409 NJ39URD009I109 14.866 N/A 9/15/10 9/30/15 9,700,000 234,023 234,023 859,882 Grant Subtotal 43,840,000 411,055 411,055 31,945,291 Resident Opportunity and Support Services: NJ009RPS024A011 14.870 N/A 9/22/11 9/22/14 480,000 117,352 117,352 480,000 NJ009FSH432A014 14.870 N/A 9/29/14 1/1/16 290,987 72,747 72,747 72,747 Grant Subtotal 770,987 190,099 190,099 552,747
56 JERSEY CITY HOUSING AUTHORITY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 Federal Grantor/Program Title Federal CFDA Number State Pass-throug h Number Grant Period From / To Grant Award Fiscal Year Cash Receipts Fiscal Year Expenditures Cumulative - Expenditures Passed through City of Jersey City Community Development Block Grant 14.218 N/A 4/1/13 3/31/15 38,500 16,188 16,188 38,500 Total $138,920,103 $ 54,670,835 $ 55,840,339 $105,624,974
57 JERSEY CITY HOUSING AUTHORITY NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED MARCH 31, 2015 NOTE 1. BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Jersey City Housing Authority under programs of the federal government for the year ended March 31, 2015. The information in the schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments and Non-Profit Organizations. Because the schedule presents only a selected portion of the operations of the Jersey City Housing Authority, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Jersey City Housing Authority. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the principles contained in OMB Circular A-87, Cost Principles for State, Local and Indian Tribes, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. NOTE 3. SUBRECIPIENTS The Authority did not pass-through any federal awards to subrecipients. NOTE 4. NON-CASH FEDERAL ASSISTANCE The Authority did not receive any non-cash Federal assistance for the year ended March 31, 2015.
58 JERSEY CITY HOUSING AUTHORITY NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 NOTE 5. SCHEDULE OF CAPITAL FUND PROGRAM COSTS AND ADVANCES The total amount of Capital Fund Program Costs and Advances incurred and earned by the Jersey City Housing Authority as of and for the year ended March 31, 2015 are provided herein. 501-09 501-10 501-11 501-11C 501-12 501-13 501-13E 501-14 Totals Budget $ 5,419,853$ 5,599,087$ 4,791,622$ 998,640$ 3,872,643$ 3,728,805$ 250,000$ 3,821,981$ 28,482,631 Advances: Cumulative through 3/31/14 $ 5,141,304$ 5,589,585$ 3,629,068$ 9,472$ 2,032,773$ 897,170$ - $ - $ 17,299,372 Current Year 278,549 9,502 1,138,340 1,052 959,279 1,243,461 164,000 1,119,040 4,913,223 Cumulative through 3/31/15 5,419,853 5,599,087 4,767,408 10,524 2,992,052 2,140,631 164,000 1,119,040 22,212,595 Costs: Cumulative through 3/31/14 5,141,304 5,589,585 3,629,068 9,472 2,032,773 897,170 - - 17,299,372 Current Year 278,549 9,502 1,138,340 1,052 959,279 1,243,461 164,000 1,119,040 4,913,223 Cumulative through 3/31/15 5,419,853 5,599,087 4,767,408 10,524 2,992,052 2,140,631 164,000 1,119,040 22,212,595 Excess / (Deficiency) $ - $ - $ - $ - $ - $ - $ - $ - $ -
59 JERSEY CITY HOUSING AUTHORITY NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 NOTE 6. SCHEDULE OF REPLACEMENT HOUSING FACTOR PROGRAM COSTS AND ADVANCES The total amount of Replacement Housing Factor Program Costs and Advances incurred and earned by the Jersey City Housing Authority as of and for the year ended March 31, 2015 are provided herein. RHF 502-09 RHF 501-10 RHF 502-10 RHF 501-11 RHF 502-11 RHF 501-12 RHF 502-12 Totals Budget $ 705,334$ 510,799$ 701,766$ 115,752$ 424,259$ 747,574$ 98,663$ 3,304,147 Advances: Cumulative through 3/31/14 $ 70,533$ 51,079$ 70,177$ 11,575$ 42,426$ 74,758$ 9,866$ 330,414 Current Year 3,273 - - - - - - 3,273 Cumulative through 3/31/15 73,806 51,079 70,177 11,575 42,426 74,758 9,866 333,687 Costs: Cumulative through 3/31/14 70,533 51,079 70,177 11,575 42,426 74,758 9,866 330,414 Current Year 3,273 - - - - - - 3,273 Cumulative through 3/31/15 73,806 51,079 70,177 11,575 42,426 74,758 9,866 333,687 Excess / (Deficiency) $ - $ - $ - $ - $ - $ - $ - $ -
60 JERSEY CITY HOUSING AUTHORITY SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED MARCH 31, 2015 I. Summary of Auditor's Results Financial Statement Section 1. Type of auditor's report issued: Unmodified 2. Internal control over financial reporting a. Material Weakness(es) identified? No b. Were significant deficiencies identified not considered to be material weaknesses? No 3. Noncompliance material to the financial statements? No Federal Awards Section 1. Dollar threshold used to determine Type A Programs from from type B programs: $1,675,210 2. Auditee qualified as low-risk Auditee? Yes 3. Type of auditor's report on compliance for major programs: Unmodified 4. Internal Control over compliance: a. Material weakness(es) identified? No b. Were significant deficiencies not considered to be material weaknesses? No c. Any audit findings disclosed that are required to be reported in accordance with OMB Circular A-133 (section .510(a))? No 5. Identification of major programs: CFDA Number Name of Federal Program 14.871 Housing Choice Vouchers 14.872 Public Housing Capital Fund
61 JERSEY CITY HOUSING AUTHORITY SCHEDULE OF FINDINGS AND QUESTIONED COSTS (continued) FOR THE YEAR ENDED MARCH 31, 2015 II. Financial Statement Findings There were no findings relating to the financial statements which are required to be reported in accordance with government auditing standards. III. Federal Award Findings and Questioned Costs None. IV. Schedule of Prior Year Audit Findings None.
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description PROJECT TOTAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSING SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES STATE/LOCAL Line Item # ASSETS: CURRENT ASSETS: Cash: 111 Cash - unrestricted 823,375$ 1,640,963$ -$ -$ -$ 56,817$ 112 Cash - restricted - modernization and development 458,816 - - - - - 113 Cash - other restricted 591,540 286,443 - - - 755,518 114 Cash - tenant security deposits 294,534 - - - - 84,144 115 Cash - restricted for payment of current liabilities - - - - - - 100 Total cash 2,168,265 1,927,406 - - - 896,479 Accounts and notes receivables: 121 Accounts receivable - PHA projects - - - - - - 122 Accounts receivable - HUD other projects - 722,906 - - - - 124 Accounts receivable - other government - - - - - - 125 Accounts receivable - miscellaneous - - - - - - 126 Accounts receivable- tenants 356,996 - - - - 152,672 126.1 Allowance for doubtful accounts - tenants (28,800) - - - - (91,742) 126.2 Allowance for doubtful accounts - other - - - - - - 127 Notes and mortgages receivable- current - - - - - - 128 Fraud recovery - - - - - - 128.1 Allowance for doubtful accounts - fraud - - - - - - 129 Accrued interest receivable - - - - - - 120 Total receivables, net of allowances for doubtful accounts 328,196 722,906 - - - 60,930 Current investments 131 Investments - unrestricted - - - - - - 132 Investments - restricted - - - - - - 135 Investments - restricted for payment of current liability - - - - - - 142 Prepaid expenses and other assets 601,464 - - - - 49,963 143 Inventories 23,853 - - - - - 143.1 Allowance for obsolete inventories - - - - - - 144 Interprogram - due from 620,161 - - - - - 145 Assets held for sale - - - - - - 150 TOTAL CURRENT ASSETS 3,741,939 2,650,312 - - - 1,007,372 NONCURRENT ASSETS: Fixed assets: 161 Land 2,896,575 - - - - 1,472,667 162 Buildings 165,767,822 - - - - 7,699,717 163 Furniture, equipment & machinery - dwellings 106,836 - - - - - 164 Furniture, equipment & machinery - administration - 92,917 - - - - 165 Leasehold improvements 8,350,000 - - - - 62,475 166 Accumulated depreciation (104,481,276) (51,498) - - - (4,548,097) 167 Construction in Progress 10,184,052 - - - - - 168 Infrastructure - - - - - - 160 Total fixed assets, net of accumulated depreciation 82,824,009 41,419 - - - 4,686,762 Other non-current assets: 171 Notes and mortgages receivable - non-current 62,274,143 - - - - - 172 Notes and mortgages receivable-non-current - past due - - - - - - 174 Other assets - - - - - - 175 Undistributed debits - - - - - - 176 Investment in joint ventures - - - - - - - - - - - - 180 TOTAL NONCURRENT ASSETS 145,098,152 41,419 - - - 4,686,762 190 TOTAL ASSETS 148,840,091$ 2,691,731$ -$ -$ -$ 5,694,134$ March 31, 2015 62
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description PROJECT TOTAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSING SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES STATE/LOCAL Line Item # March 31, 2015 LIABILITIES AND EQUITY: Liabilities: Current Liabilities: 311 Bank overdraft -$ -$ -$ -$ -$ -$ 312 Accounts payable < 90 days 218,258 16,340 - - - 6,057 313 Accounts payable > 90 days past due - - - - - - 321 Accrued wage/payroll taxes payable 330,690 52,054 - - - 11,762 322 Accrued compensated absences - current portion 72,519 10,216 - - - 4,790 324 Accrued contingency liability - - - - - - 325 Accrued interest payable 309,137 - - - - - 331 Accounts payable - HUD PHA programs - 3,368 - - - - 332 Accounts payable - PHA projects - - - - - - 333 Accounts payable - other government - - - - - - 341 Tenant security deposits 294,534 - - - - 84,144 342 Deferred revenue - - - - - - 343 Current portion of L-T debt - capital projects 1,047,892 - - - - 95,623 344 Current portion of L-T debt - operating borrowings - - - - - - 345 Other current liabilities 28,535 - - - - - 346 Accrued liabilities - other 367,889 - - - - 17,086 347 Interprogram - due to - 620,161 - - - 87,671 348 Loan liability - current - - - - - - 310 TOTAL CURRENT LIABILITIES 2,669,454 702,139 - - - 307,133 NONCURRENT LIABILITIES: 351 Long-term debt, net of current - capital projects 13,988,521 - - - - 3,256,985 352 Long-term debt, net of current - operating borrowings - - - - - - 353 Non-current liabilities- other 591,540 286,443 - - - - 354 Accrued compensated absences - noncurrent 652,664 91,948 - - - 43,108 355 Loan liability - non-current - - - - - - 356 FASB 5 Liabilities - - - - - - 357 Accrued pension and OPEB liabilities - - - - - - 350 TOTAL NONCURRENT LIABILITIES 15,232,725 378,391 - - - 3,300,093 300 TOTAL LIABILITIES 17,902,179 1,080,530 - - - 3,607,226 EQUITY: 508.1 Invested in Capital Assets, Net of Related Debt 67,787,596 41,419 - - - 1,334,154 511.1 Restricted Net Assets 62,274,143 - - - - - 512.1 Unrestricted Net Assets 876,173 1,569,782 - - - 752,754 513 TOTAL EQUITY 130,937,912 1,611,201 - - - 2,086,908 600 TOTAL LIABILITIES AND EQUITY 148,840,091$ 2,691,731$ -$ -$ -$ 5,694,134$ Proof of concept - - - - - - 63
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # ASSETS: CURRENT ASSETS: Cash: 111 Cash - unrestricted 112 Cash - restricted - modernization and development 113 Cash - other restricted 114 Cash - tenant security deposits 115 Cash - restricted for payment of current liabilities 100 Total cash Accounts and notes receivables: 121 Accounts receivable - PHA projects 122 Accounts receivable - HUD other projects 124 Accounts receivable - other government 125 Accounts receivable - miscellaneous 126 Accounts receivable- tenants 126.1 Allowance for doubtful accounts - tenants 126.2 Allowance for doubtful accounts - other 127 Notes and mortgages receivable- current 128 Fraud recovery 128.1 Allowance for doubtful accounts - fraud 129 Accrued interest receivable 120 Total receivables, net of allowances for doubtful accounts Current investments 131 Investments - unrestricted 132 Investments - restricted 135 Investments - restricted for payment of current liability 142 Prepaid expenses and other assets 143 Inventories 143.1 Allowance for obsolete inventories 144 Interprogram - due from 145 Assets held for sale 150 TOTAL CURRENT ASSETS NONCURRENT ASSETS: Fixed assets: 161 Land 162 Buildings 163 Furniture, equipment & machinery - dwellings 164 Furniture, equipment & machinery - administration 165 Leasehold improvements 166 Accumulated depreciation 167 Construction in Progress 168 Infrastructure 160 Total fixed assets, net of accumulated depreciation Other non-current assets: 171 Notes and mortgages receivable - non-current 172 Notes and mortgages receivable-non-current - past due 174 Other assets 175 Undistributed debits 176 Investment in joint ventures 180 TOTAL NONCURRENT ASSETS 190 TOTAL ASSETS March 31, 2015 SECTION 8 MODERATE REHAB SINGLE ROOM OCCUPANCY SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES OTHER FEDERAL PROGRAM 2 COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL -$ -$ -$ -$ 17,708$ -$ 2,538,863$ - - - - - - 458,816 - - - - - - 1,633,501 - - - - - - 378,678 - - - - - - - - - - - 17,708 - 5,009,858 - - - - - - - 270,798 - - - - - 993,704 - - - - - - - - - - - - - - - - - - - - 509,668 - - - - - - (120,542) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 270,798 - - - - - 1,382,830 - - - - - - - - - - - - - - - - - - - - - - - - - 106,223 - 757,650 - - - - - - 23,853 - - - - - - - 51,000 - - - 87,671 (758,832) - - - - - - - - 321,798 - - - 211,602 (758,832) 7,174,191 - - - - 896,369 - 5,265,611 - - - - 13,651,056 - 187,118,595 - - - - - - 106,836 - - - - 707,492 - 800,409 - - - - - - 8,412,475 - - - - (9,399,574) - (118,480,445) - - - - - - 10,184,052 - - - - - - - - - - - 5,855,343 - 93,407,533 - - - - - - 62,274,143 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 5,855,343 - 155,681,676 321,798$ -$ -$ -$ 6,066,945$ (758,832)$ 162,855,867$ 64
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # March 31, 2015 LIABILITIES AND EQUITY: Liabilities: Current Liabilities: 311 Bank overdraft 312 Accounts payable < 90 days 313 Accounts payable > 90 days past due 321 Accrued wage/payroll taxes payable 322 Accrued compensated absences - current portion 324 Accrued contingency liability 325 Accrued interest payable 331 Accounts payable - HUD PHA programs 332 Accounts payable - PHA projects 333 Accounts payable - other government 341 Tenant security deposits 342 Deferred revenue 343 Current portion of L-T debt - capital projects 344 Current portion of L-T debt - operating borrowings 345 Other current liabilities 346 Accrued liabilities - other 347 Interprogram - due to 348 Loan liability - current 310 TOTAL CURRENT LIABILITIES NONCURRENT LIABILITIES: 351 Long-term debt, net of current - capital projects 352 Long-term debt, net of current - operating borrowings 353 Non-current liabilities- other 354 Accrued compensated absences - noncurrent 355 Loan liability - non-current 356 FASB 5 Liabilities 357 Accrued pension and OPEB liabilities 350 TOTAL NONCURRENT LIABILITIES 300 TOTAL LIABILITIES EQUITY: 508.1 Invested in Capital Assets, Net of Related Debt 511.1 Restricted Net Assets 512.1 Unrestricted Net Assets 513 TOTAL EQUITY 600 TOTAL LIABILITIES AND EQUITY Proof of concept SECTION 8 MODERATE REHAB SINGLE ROOM OCCUPANCY SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES OTHER FEDERAL PROGRAM 2 COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL -$ -$ -$ -$ -$ -$ -$ - - - - 56,441 - 297,096 - - - - - - - - - - - 278,869 - 673,375 - - - - 77,317 - 164,842 - - - - - - - - - - - - - 309,137 - - - - - - 3,368 - - - - - - - - - - - - - - - - - - - - 378,678 - - - - - - - - - - - - - 1,143,515 - - - - - - - - - - - - - 28,535 - - - - 2,562 - 387,537 - - - - 51,000 (758,832) - - - - - - - - - - - - 466,189 (758,832) 3,386,083 - - - - - - 17,245,506 - - - - - - - - - - - - - 877,983 - - - - 695,854 - 1,483,574 - - - - - - - - - - - - - - - - - - - - - - - - - 695,854 - 19,607,063 - - - - 1,162,043 (758,832) 22,993,146 - - - - 5,855,343 - 75,018,512 - - - - - - 62,274,143 321,798 - - - (950,441) - 2,570,066 321,798 - - - 4,904,902 - 139,862,721 321,798$ -$ -$ -$ 6,066,945$ (758,832)$ 162,855,867$ - - - - - - - 65
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description OPERATING CAPITAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSI SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES SECTION 8 MODERATE REHAB SINGLE ROOM Line Item # REVENUE: 70300 Net tenant rental revenue 7,749,940$ -$ -$ -$ -$ -$ -$ 70400 Tenant revenue - other 226,558 - - - - - - 70500 Total tenant revenue 7,976,498 - - - - - - 70600 HUD PHA grants 11,378,232 1,664,262 37,280,858 88,367 489,405 190,099 822,801 70610 Capital grants - 3,252,234 - 322,688 - - - 70710 Management fee - - - - - - - 70720 Asset management fee - - - - - - - 70730 Book keeping fee - - - - - - - 70740 Front Line Service Fee - - - - - - - 70750 Other fees - - - - - - - 70800 Other government grants - - - - - - - 71100 Investment income - unrestricted 101,336 - - - - - - 71200 Mortgage interest income 2,033,120 - - - - - - 71300 Proceeds from disposition of asseets held for sale - - - - - - - 71301 Cost of sale of assets - - - - - - - 71400 Fraud recovery 17,840 - 127,800 - - - - 71500 Other revenue 500,612 - 90,610 - - - - 71600 Gain or loss on sale of fixed assets - - - - - - - 72000 Investment income - restricted - 500 - - - - 70000 TOTAL REVENUE 22,007,638 4,916,496 37,499,768 411,055 489,405 190,099 822,801 EXPENSES: Administrative 91100 Administrative salaries 1,327,601 - 1,075,692 - 51,020 - - 91200 Auditing fees 39,000 - 13,300 - - - 2,000 91300 Outside management fees 1,728,251 217,509 519,702 65,020 - - 22,425 91310 Book-keeping fee 192,570 - 324,882 - - - - 91400 Advertising and marketing - - - - - - - 91500 Employee benefit contributions- administrative 957,269 - 713,166 - 17,431 - - 91600 Office expenses 209,774 - 146,235 9,868 - - 3,456 91700 Legal expenses 94,505 - 21,893 13,479 - - - 91800 Travel 189 - 7,491 - - - - 91810 Allocated overhead - - - - - - - 91900 Other 112,363 3,273 27,594 - - - - 92000 Asset Management Fee - - - - - - - Tenant services 92100 Tenant services - salaries - - - - - 144,300 - 92200 Relocation costs - 23,375 - - - - - 92300 Employee benefit contributions- tenant services - - - - - 25,465 - 92400 Tenant services - other 15,112 - - - - 20,334 - - Utilities 93100 Water 1,405,886 - - - - - - 93200 Electricity 1,068,475 - - - - - - 93300 Gas 1,251,885 - - - - - - 93400 Fuel 446,730 - - - - - - 93500 Labor - - - - - - - 93600 Sewer - - - - - - - 93700 Employee benefit contributions- utilities - - - - - - - 93800 Other utilities expense 246,105 - - - - - - March 31, 2015 66
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description OPERATING CAPITAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSI SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES SECTION 8 MODERATE REHAB SINGLE ROOM Line Item # March 31, 2015 Ordinary maintenance & operation 94100 Ordinary maintenance and operations - labor 2,023,198 - - - - - - 94200 Ordinary maintenance and operations - materials & othe 547,752 - 1,654 - - - - 94300 Ordinary maintenance and operations - contract costs 2,302,075 - - - - - - 94500 Employee benefit contributions- ordinary maintenanc 1,598,305 - - - - - - Protective services 95100 Protective services - labor - - - - - - - 95200 Protective services- other contract costs 117,060 - - - - - - 95300 Protective services - other - - - - - - - 95500 Employee benefit contributions- protective service - - - - - - - General expenses 96100 Insurance premiums - - 36,798 - - - - 96110 Property Insurance 242,258 - - - - - - 96120 liability insurance - - - - - - - 96130 Workmen's compensation 135,003 - 50,939 - 1,500 - - 96140 All Other Insurance 40,196 - - - - - - 96200 Other general expenses 1,970,361 - 181,027 - - - - 96210 Compensated absences 253,772 - 78,452 - - - - 96300 Payments in lieu of taxes - - - - - - - 96400 Bad debt - tenant rents 11,239 - - - - - - 96500 Bad debt- mortgages - - - - - - - 96600 Bad debt - other - - - - - - - 96700 Interest expense - - - - - - - 96710 Interest of Mortgage (or Bonds) Payable - 368,710 - - - - - 96720 Interest on Notes Payable (Short and Long Term) 234,596 - - - - - - 96730 Amortization of bond issue costs - - - - - - - 96800 Severance expense - - 31,971 - - - - 96900 TOTAL OPERATING EXPENSES 18,571,530 612,867 3,230,796 88,367 69,951 190,099 27,881 97000 EXCESS OPERATING REVENUE OVER OPERATING EXPENSES 3,436,108 4,303,629 34,268,972 322,688 419,454 - 794,920 97100 Extraordinary maintenance 33,235 - - 322,688 - - - 97200 Casualty losses - non capitalized - - - - - - - 97300 Housing assistance payments - - 34,335,639 - 419,454 - 728,929 97350 HAP Portability - in - - 49,628 - - - - 97400 Depreciation expense 5,983,144 - 6,019 - - - - 97500 Fraud losses - - - - - - - 97800 Dwelling units rent expense - - - - - - - 90000 TOTAL EXPENSES 24,587,909 612,867 37,622,082 411,055 489,405 190,099 756,810 67
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description OPERATING CAPITAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSI SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES SECTION 8 MODERATE REHAB SINGLE ROOM Line Item # March 31, 2015 OTHER FINANCING SOURCES (USES) 10010 Operating transfers in 1,051,395 - - - - - - 10020 Operating transfers out - (1,051,395) - - - - - 10030 Operating transfers from/to primary government - - - - - - - 10040 Operating transfers from/to component unit - - - - - - - 10070 Extraordinary items, net gain/loss - - - - - - - 10080 Special items (net gain/loss) - - - - - - - 10091 Inter Project excess cash transfer in - - - - - - - 10092 Inter Project excess cash transfer out - - - - - - - 10093 Transfers between program and project in 620,161 - - - - - - 10094 Transfers between program and project out - - (620,161) - - - - 10100 TOTAL OTHER FINANCING SOURCES (USES) 1,671,556 (1,051,395) (620,161) - - - - 10000 EXCESS (DEFICIENCY) OF REVENUE OVER EXPENSES (908,715) 3,252,234 (742,475) - - - 65,991 MEMO ACCOUNT INFORMATION: 11020 Required annual debt principal payments 622,892 410,000 - - - - - 11030 Beginning equity 128,594,393 - 2,062,301 - - - 255,807 11040 Prior period adjustments and equity transfers - - 291,375 - - - - 11170 Administrative fee equity - - 1,611,201 - - - - 11180 Housing assistance payments equity - - - - - - - - 1,611,201 - - - - 11190 Unit months available 27,692 - 44,695 - 396 - 1,200 11210 Number of unit months leased 25,676 - 43,317 - 396 - 1,044 Equity Roll Forward Test: Calculation from R/E Statement 130,937,912$ -$ 1,611,201$ -$ -$ -$ 321,798$ B/S Line 513 130,937,912$ -$ 1,611,201$ -$ -$ -$ 321,798$ -$ -$ -$ -$ -$ -$ -$ 68
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # REVENUE: 70300 Net tenant rental revenue 70400 Tenant revenue - other 70500 Total tenant revenue 70600 HUD PHA grants 70610 Capital grants 70710 Management fee 70720 Asset management fee 70730 Book keeping fee 70740 Front Line Service Fee 70750 Other fees 70800 Other government grants 71100 Investment income - unrestricted 71200 Mortgage interest income 71300 Proceeds from disposition of asseets held for sale 71301 Cost of sale of assets 71400 Fraud recovery 71500 Other revenue 71600 Gain or loss on sale of fixed assets 72000 Investment income - restricted 70000 TOTAL REVENUE EXPENSES: Administrative 91100 Administrative salaries 91200 Auditing fees 91300 Outside management fees 91310 Book-keeping fee 91400 Advertising and marketing 91500 Employee benefit contributions- administrative 91600 Office expenses 91700 Legal expenses 91800 Travel 91810 Allocated overhead 91900 Other 92000 Asset Management Fee Tenant services 92100 Tenant services - salaries 92200 Relocation costs 92300 Employee benefit contributions- tenant services 92400 Tenant services - other Utilities 93100 Water 93200 Electricity 93300 Gas 93400 Fuel 93500 Labor 93600 Sewer 93700 Employee benefit contributions- utilities 93800 Other utilities expense March 31, 2015 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES 9 OTHER FEDERAL PROGRAM 2 2 STATE/LOCAL COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL -$ -$ 1,230,592$ -$ -$ -$ 8,980,532$ - - - - - - 226,558 - - 1,230,592 - - 9,207,090 - - - 16,188 - - 51,930,212 - - - - - - 3,574,922 - - - - 2,552,907 (2,552,907) - - - - - - - - - - - - 517,452 (517,452) - - - - - 1,540,150 (1,540,150) - - - - - - - - - - - - - - - - - 296 - 9,067 - 110,699 - - - - - - 2,033,120 - - - - - - - - - - - - - - - - 554 - - - 146,194 - - 6,900 - 86,822 - 684,944 - - - - - - - - - - - - 500 - - 1,238,342 16,188 4,706,398 (4,610,509) 67,687,681 - - 150,251 - 1,080,530 - 3,685,094 - - 13,520 - 5,860 - 73,680 - - - - - (2,552,907) - - - - - - (517,452) - - - - - - - - - - 44,311 - 1,006,381 - 2,738,558 - - 37,674 - 148,798 - 555,805 - - 1,844 - 94,882 - 226,603 - - - - 4,251 - 11,931 - - - - - - - - - 680 - 109,393 - 253,303 - - - - - - - - - - - - - 144,300 - - - - - - 23,375 - - - - - - 25,465 - - - 16,188 - - 51,634 - - 150,798 - - - 1,556,684 - - 27,233 - 77,155 - 1,172,863 - - 93,116 - 5,061 - 1,350,062 - - - - - - 446,730 - - - - - - - - - - - - - - - - - - - - - - - 13,598 - - - 259,703 69
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # March 31, 2015 Ordinary maintenance & operation 94100 Ordinary maintenance and operations - labor 94200 Ordinary maintenance and operations - materials & othe 94300 Ordinary maintenance and operations - contract costs 94500 Employee benefit contributions- ordinary maintenanc Protective services 95100 Protective services - labor 95200 Protective services- other contract costs 95300 Protective services - other 95500 Employee benefit contributions- protective service General expenses 96100 Insurance premiums 96110 Property Insurance 96120 liability insurance 96130 Workmen's compensation 96140 All Other Insurance 96200 Other general expenses 96210 Compensated absences 96300 Payments in lieu of taxes 96400 Bad debt - tenant rents 96500 Bad debt- mortgages 96600 Bad debt - other 96700 Interest expense 96710 Interest of Mortgage (or Bonds) Payable 96720 Interest on Notes Payable (Short and Long Term) 96730 Amortization of bond issue costs 96800 Severance expense 96900 TOTAL OPERATING EXPENSES 97000 EXCESS OPERATING REVENUE OVER OPERATING EXPENSES 97100 Extraordinary maintenance 97200 Casualty losses - non capitalized 97300 Housing assistance payments 97350 HAP Portability - in 97400 Depreciation expense 97500 Fraud losses 97800 Dwelling units rent expense 90000 TOTAL EXPENSES SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES 9 OTHER FEDERAL PROGRAM 2 2 STATE/LOCAL COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL - - 172,545 - 355,069 - 2,550,812 - - 52,468 - 13,347 - 615,221 - - 100,853 - 713,405 (1,540,150) 1,576,183 - - 79,207 - 266,788 - 1,944,300 - - 9,059 - - - 9,059 - - - - - - 117,060 - - - - - - - - - 1,606 - - - 1,606 - - 27,024 - - - 63,822 - - - - 33,969 - 276,227 - - - - - - - - - 11,283 - 159,558 - 358,283 - - - - 843 - 41,039 - - - - - - 2,151,388 - - 17,659 - 256,461 - 606,344 - - 82,780 - - - 82,780 - - - - - - 11,239 - - - - - - - - - - - - - - - - - - - - - - - 114,810 - - - 483,520 - - - - - - 234,596 - - - - - - - - - - - 10,321 - 42,292 - - 1,202,319 16,188 4,342,072 (4,610,509) 23,741,561 - - 36,023 - 364,326 - 43,946,120 - - - - - - 355,923 - - - - - - - - - - - - - 35,484,022 - - - - - - 49,628 - - 217,647 - 921,698 - 7,128,508 - - - - - - - - - - - - - - - - - 1,419,966 16,188 5,263,770 (4,610,509) 66,759,642 70
Housing Authority of the City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # March 31, 2015 OTHER FINANCING SOURCES (USES) 10010 Operating transfers in 10020 Operating transfers out 10030 Operating transfers from/to primary government 10040 Operating transfers from/to component unit 10070 Extraordinary items, net gain/loss 10080 Special items (net gain/loss) 10091 Inter Project excess cash transfer in 10092 Inter Project excess cash transfer out 10093 Transfers between program and project in 10094 Transfers between program and project out 10100 TOTAL OTHER FINANCING SOURCES (USES) 10000 EXCESS (DEFICIENCY) OF REVENUE OVER EXPENSES MEMO ACCOUNT INFORMATION: 11020 Required annual debt principal payments 11030 Beginning equity 11040 Prior period adjustments and equity transfers 11170 Administrative fee equity 11180 Housing assistance payments equity 11190 Unit months available 11210 Number of unit months leased Equity Roll Forward Test: Calculation from R/E Statement B/S Line 513 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES 9 OTHER FEDERAL PROGRAM 2 2 STATE/LOCAL COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL - - - - - (1,051,395) - - - - - - 1,051,395 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (620,161) - - - - - - 620,161 - - - - - - - - - - - - (181,624) - (557,372) - 928,039 - - 95,623 - - - 1,128,515 291,375 - 2,268,532 - 5,462,274 - 138,934,682 (291,375) - - - - - - - - - - - - 1,611,201 - - - - - - - - - - - - - 1,611,201 - - 1,512 - - - 75,495 - - 1,475 - - - 71,908 -$ -$ 2,086,908$ -$ 4,904,902$ -$ 139,862,721$ -$ -$ 2,086,908$ -$ 4,904,902$ -$ 139,862,721$ -$ -$ -$ -$ -$ -$ -$ 71
Groundbreaking of Catherine Todd Apartments, an Affordable Housing Project Assisted with Federal Sandy Recovery Funds From L-R: Reginald Jones, JCHA Commissioner; Freddie Kitchens, JCHA Commissioner; Patricia Madison, Executive Director, JCHA; Holly Leicht, HUD Regional Administrator; Anthony Marchetta, NJHMFA; Rolando Lavarro, JC Municipal Council President; Diane Coleman, JC Councilwoman, Ward F; Mayor Steven M. Fulop; Dorothy Carter, Montgomery Gardens RMC President; Joyce Watterman, JC Councilwoman, At Large; Freeholder Jeffrey Dublin and First cousin of Catherine Todd; Henry Todd, Son of Catherine Todd
STATISTICAL SECTION
Jersey City Housing Authority Statistical Section (Unaudited) This part of the Comprehensive Annual Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosers, and required supplementary information says about the Authority’s overall financial health. The following are the categories of the schedules that are included in this Section: Financial Trends These schedules contain trend information to help readers understand how the Authority’s financial performance and well-being have changed over time. Revenue Capacity This schedule contains information to help the reader assess the Authority’s most significant sources of revenue. Debt Capacity This schedule presents information to help the reader assess the affordability of the Authority’s current level of outstanding debt and the Authority’s ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the Authority’s financial activities take place. Operating information These schedules contain information about the Authority’s operations and resources to help the reader understand how the Authority’s financial information related to the services the Authority provides and activities it performs.
Statistical Section (Unaudited) Schedule of Financial Trends
2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 OPERATING REVENUES: Tenant revenue 9,207,090$ 10,249,414$ 10,232,620$ 11,639,786$ 10,888,421$ 13,878,119$ 14,004,617$ 14,650,007$ 12,335,706$ 11,305,358$ HUD and other government operating grants 51,930,212 51,944,640 54,289,585 51,502,273 50,521,980 46,664,555 34,781,484 44,632,836 49,886,113 53,646,522 Other revenues 831,138 762,228 400,295 563,816 3,374,359 12,484,481 3,051,382 4,945,310 792,793 341,529 Total operating revenues 61,968,440 62,956,282 64,922,500 63,705,875 64,784,760 73,027,155 51,837,483 64,228,153 63,014,612 65,293,409 OPERATING EXPENSES: Administrative 7,544,974 8,379,595 8,724,914 9,284,232 8,723,974 10,615,002 9,454,261 14,117,632 10,610,259 10,851,791 Tenant services 244,774 248,376 75,978 226,228 356,006 288,399 876,128 706,015 1,279,523 1,862,997 Utilities 4,786,042 5,281,180 5,306,084 7,217,815 8,131,183 8,033,250 10,169,981 9,633,877 8,989,772 8,405,047 Ordinary maintenance and operation 6,686,516 7,442,365 8,131,068 9,048,276 12,630,206 14,386,175 10,547,772 9,884,476 9,970,806 9,928,348 Protective services 127,725 412,765 381,099 375,262 85,132 347,298 397,425 17,702 68,600 308,401 General expense 3,989,337 5,530,560 5,480,405 5,369,158 3,565,163 2,803,401 2,484,771 2,397,333 2,164,873 2,705,724 Housing assistance payments 35,533,650 36,366,258 36,255,758 33,862,736 31,909,348 30,008,280 26,700,266 25,445,966 27,915,981 24,752,736 Depreciation 7,128,508 6,812,033 10,386,363 10,866,351 13,330,508 14,355,038 13,384,911 13,369,729 10,461,683 12,142,883 Total operating expenses 66,041,526 70,473,132 74,741,669 76,250,058 78,731,520 80,836,843 74,015,515 75,572,730 71,461,497 70,957,927 NET INCOME (LOSS) FROM OPERATIONS (4,073,086) (7,516,850) (9,819,169) (12,544,183) (13,946,760) (7,809,688) (22,178,032) (11,344,577) (8,446,885) (5,664,518) NON-OPERATING REVENUES (EXPENSE): Investment income 2,144,319 2,147,021 1,925,754 1,572,420 1,596,522 47,957 294,768 722,230 555,818 299,132 Interest expense (718,116) (807,836) (531,193) (554,864) (371,263) (1,642,182) (1,421,144) (1,273,100) (978,149) (569,964) Extraordinary Maintenance - - - - - (118,441) (39,341) (6,321) (30,780) - Casualty Loss - - - - - (17,988) - - (410) - Gain on disposition of property and equipment - - - - 9,527 - - - 12,164,608 - Net non-operating revenues/(losses) 1,426,203 1,339,185 1,394,561 1,017,556 1,234,786 (1,730,654) (1,165,717) (557,191) 11,711,087 (270,832) (2,646,883) (6,177,665) (8,424,608) (11,526,627) (12,711,974) (9,540,342) (23,343,749) (11,901,768) 3,264,202 (5,935,350) CAPITAL CONTRIBUTIONS 3,574,922 3,391,894 3,912,150 4,906,215 10,464,223 12,227,687 8,377,868 11,413,565 16,699,534 14,033,026 CHANGE IN NET POSITION 928,039 (2,785,771) (4,512,458) (6,620,412) (2,247,751) 2,687,345 (14,965,881) (488,203) 19,963,736 8,097,676 Net position, beginning of the year 138,934,682 141,720,453 146,232,911 180,310,737 219,285,276 213,269,577 210,430,368 209,554,513 187,687,308 179,589,632 Prior Period Adjustments - - - (27,457,414) (36,726,788) 3,328,354 17,805,090 1,364,058 1,903,469 - Net position, end of the year 139,862,721$ 138,934,682$ 141,720,453$ 146,232,911$ 180,310,737$ 219,285,276$ 213,269,577$ 210,430,368$ 209,554,513$ 187,687,308$ Source: Annual Financial Statements Housing Authority of the City of Jersey City Statement of Revenues, Expenses and Changes in Net Position INCOME/(LOSS) BEFORE CAPITAL CONTRIBUTIONS 72
2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 Invested in Capital Assets, Net of Accumulated Depreciation and Related Debet $ 75,018,512 $ 78,044,065 $ 81,771,678 $ 88,166,366 $ 128,330,376 $ 162,567,952 $ 170,497,995 $ 183,330,285 $ 189,418,365 $ 172,591,133 Restricted Net Assets 62,274,143 60,266,036 59,518,116 57,970,003 48,147,968 15,351,462 45,141,978 22,412,307 15,230,717 15,088,414 Unrestricted Net Assets 2,570,066 624,581 430,659 96,542 3,832,393 41,365,862 (2,370,396) 4,687,776 4,905,431 7,761 Total Net Position $ 139,862,721 $ 138,934,682 $ 141,720,453 $ 146,232,911 $ 180,310,737 $ 219,285,276 $ 213,269,577 $ 210,430,368 $ 209,554,513 $ 187,687,308 Source: Annual Financial Statements Housing Authority of the City of Jersey City Net Position by Category 73
2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 Land 5,265,611$ 5,265,611$ 5,265,611$ 5,265,611$ 5,647,823$ 10,432,776$ 10,433,776$ 10,182,941$ 10,178,441$ 9,120,976$ Work in Progress 10,184,052 7,341,820 16,817,314 17,074,758 44,627,690 94,105,140 88,968,622 102,483,750 95,717,976 79,018,442 Buildings 195,468,595 195,468,595 183,458,013 179,663,420 233,875,037 260,642,543 247,615,999 227,771,271 226,421,779 193,882,457 Furniture and Equipment 969,720 969,720 969,720 1,403,883 3,051,581 3,231,907 2,540,696 3,102,683 3,095,671 3,101,076 211,887,978 209,045,746 206,510,658 203,407,672 287,202,131 368,412,366 349,559,093 343,540,645 335,413,867 285,122,951 Accumulated Depreciation (118,480,445) (111,351,937) (104,539,904) (94,587,705) (146,086,174) (146,908,252) (132,553,215) (119,241,744) (105,963,117) (95,596,757) Total Capital Assets 93,407,533$ 97,693,809$ 101,970,754$ 108,819,967$ 141,115,957$ 221,504,114$ 217,005,878$ 224,298,901$ 229,450,750$ 189,526,194$ Source: Annual Financial Statements Housing Authority of the City of Jersey City Capital Assets by Category 74
Statistical Section (Unaudited) Schedule of Revenue Capacity
2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 Tenant revenue 9,207,090$ 10,249,414$ 10,232,620$ 11,639,786$ 10,888,421$ 13,878,119$ 14,004,617$ 14,650,007$ 12,335,706$ 11,305,358$ HUD and other government operating grants 51,930,212 51,944,640 54,289,585 51,502,273 50,521,980 46,664,555 34,781,484 44,632,836 49,886,113 53,646,522 Other revenues 831,138 762,228 400,295 563,816 3,374,359 12,484,481 3,051,382 4,945,310 792,793 341,529 Investment income 2,144,319 2,147,021 1,925,754 1,572,420 1,596,522 47,957 294,768 722,230 555,818 299,132 Gain on disposition of property and equipment - - - - 9,527 - - - 12,164,608 - Total Revenues 64,112,759$ 65,103,303$ 66,848,254$ 65,278,295$ 66,390,809$ 73,075,112$ 52,132,251$ 64,950,383$ 75,735,038$ 65,592,541$ Source: Annual Financial Statements Housing Authority of the City of Jersey City Revenues on a Gross Basis
Statistical Section (Unaudited) Schedule of Debt Capacity
2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 Capital Fund Program Revenue Bonds 7,570,000$ 7,980,000$ 8,370,000$ 8,745,000$ 9,105,000$ -$ -$ -$ -$ -$ Energy Saving Equipment 7,466,415 8,227,317 8,302,276 -$ -$ -$ -$ -$ -$ -$ Total Bonds Payable 15,036,415$ 16,207,317$ 16,672,276$ 8,745,000$ 9,105,000$ -$ -$ -$ -$ -$ Equity 139,862,721$ 138,934,682$ 141,720,453$ 146,232,911$ 180,310,737$ -$ -$ -$ -$ -$ % Debt to Equity 10.75% 11.67% 11.76% 5.98% 5.05% 0.00% 0.00% 0.00% 0.00% 0.00% Personal Income* 32,747 32,089 30,201 31,332 31,865 29,458 31,643 31,533 27,722 24,384 % of Personal Income 0.22% 0.20% 0.18% 0.36% 0.35% 0.00% 0.00% 0.00% 0.00% 0.00% Population* 265,681 262,146 257,345 254,444 250,317 248,005 242,513 229,007 222,653 242,845 Total Outstanding Debt Per Capita 56.60 61.83 64.79 34.37 36.37 - - - - - Source: Annual Financial Statements and Resident Demographics - JCHA Low-Rent Program N/A = Not Available *2015 Population and Personal Income are estimated Housing Authority of the City of Jersey City Long Term Bonds Payable Note: Percentage of Personal Income and Per Capita calculations are based on total bonds payable using the JCHA's residents demographic information. (Please see JCHA's Demographic and Economic Statistics - Ten Year Trend) 76
Statistical Section (Unaudited) Schedules of Demographics And Economic Information
Age By Gender Age Male Female HOH Male HOH Female 0 - 5 145 120 0 0 6 - 12 267 274 0 0 13 - 17 197 200 0 0 18 51 40 0 1 19 - 29 308 455 20 102 30 - 39 90 316 34 248 40 - 49 105 367 60 331 50 - 54 36 182 29 165 55 - 61 80 217 53 191 62 - 65 46 115 33 101 Over 65 292 551 263 493 Sub Total 1,617 2,837 492 1,632 Race Race Total HOH WHITE 225 98 Black 3,243 1,542 Hispanic 917 455 Asian 50 26 Other 19 3 Multiple 0 0 None 0 0 Sub Total 4,454 2,124 Elderly/Disabled Age Elderly Non-Elderly Disabled Handicapped 0 - 17 0 1,218 64 0 18 - 61 0 2,237 413 0 62 and Older 999 0 453 0 Sub Total 999 3,455 930 0 Average TTP and Tenant Rent based on Bed Room Size Bed Room Size TTP Tenant Rent 0 305.38$ 234.33$ 1 391.93$ 248.11$ 2 570.12$ 311.83$ 3 628.18$ 305.66$ 4 628.02$ 336.53$ 5 1,005.71$ 352.42$ 6 2,041.64$ 373.28$ 7 -$ -$ Jersey City Housing Authority (JCHA) Low Rent, Demographic Summary Report 77
Length of Residency Years of Residency Total Tenant Family Elderly 1 Yr or Less 348 175 64 2 Yrs 219 105 38 3 Yrs 382 159 47 4 Yrs 182 81 31 5 Yrs 404 172 76 6 - 10 Yrs 823 366 158 11 - 20 Yrs 864 413 174 Over 20 Yrs 1,222 647 384 Sub Total 4,444 2,118 972 Total No. of Families Receiving Assistance Income Source Total No. of Families Total No. of Persons 55 and above 18-54 Below18 SSI 554 596 377 212 7 SS 915 1,024 865 146 13 Pension 192 197 190 7 0 TANF 136 142 14 128 0 General Assistance 169 178 25 153 0 Sub Total 1,966 2,137 1,471 646 20 Average Annual Income Family Size Avg. Annual Income Avg. Family Size Avg. Annual Income Per Family No. of Families 1 13,591.40$ 1.97 25,835.15$ 899 2 19,641.83$ 400 3 22,063.20$ 246 4 27,791.87$ 164 5 24,421.72$ 69 6 25,574.67$ 18 7 32,138.38$ 11 8 21,116.00$ 2 9 17,734.33$ 2 10 -$ 0 Sub Total 1,811 Jersey City Housing Authority Low Rent, Demographic Summary Report 78
Earned Income Total No. of Families No. of Family Earned Income % of Family With Earned Income Total No. of Person No. of Person With Earned Income 2,123 968 45.60% 4,454 1,239 Details of Tenants with Earned Income Age Group HOH Spouse Co-Head Other Adult 55 and above 206 19 2 8 35 - 54 436 31 4 32 18 - 34 188 5 9 220 Sub Total 830 55 15 260 Ethnicity Relation Hispanic Non-Hispanic HOH 174 801 Non HOH 48 216 Sub Total 222 1,017 Family Language Language Total # by HOH % Total English N/A 0.00 Other N/A 0.00 Portuguese N/A 0.00 Spanish N/A 0.00 Vietmanese N/A 0.00 Sub Total 0 0.00 Community service eligible Total No. of Person Non-Exempted Count 18 - 34 35 - 54 55 and above 1 0 0 1 Sub Total 0 0 0 1 Source: Jersey City Housing Authority Emphasys System N/A: Data not Available Low Rent, Demographic Summary Report Jersey City Housing Authority 79
Age By Gender Age Male Female HOH Male HOH Female 0 - 5 394 379 0 0 6 - 12 692 645 0 0 13 - 17 600 595 0 0 18 116 122 0 0 19 - 29 633 817 46 194 30 - 39 171 877 79 805 40 - 49 168 841 113 795 50 - 54 106 429 82 402 55 - 61 208 513 175 476 62 - 65 89 222 77 207 Over 65 256 760 206 686 Sub Total 3,433 6,200 778 3,565 Race Race Total HOH WHITE 893 530 Black 5,150 2,177 Hispanic 3,465 1,569 Asian 99 52 Other 26 12 Multiple 0 0 None 0 Sub Total 9,633 4,340 Elderly/Disabled Age Elderly Non-Elderly Disabled Handicapped 0 - 17 0 3,306 291 0 18 - 61 0 5,000 1,468 0 62 and Older 1,327 0 934 0 Sub Total 1,327 8,306 2,693 0 Average HAP and Contract Payment based on Bed Room Size Bed Room Size HAP Contract Rent 0 723.13$ 1,039.14$ 1 776.14$ 1,084.16$ 2 792.19$ 1,189.00$ 3 894.43$ 1,369.39$ 4 1,031.82$ 1,514.60$ 5 1,549.17$ 1,929.67$ 6 -$ -$ 7 -$ -$ Jersey City Housing Authority (JCHA) Section 8, Demographic Summary Report 80
Length of Residency Years of Residency Total Tenant Family Elderly 1 Yr or Less 2,098 1,046 466 2 Yrs 315 151 19 3 Yrs 964 402 69 4 Yrs 621 307 66 5 Yrs 266 141 42 6 - 10 Yrs 2,576 987 209 11 - 20 Yrs 2,430 1,083 313 Over 20 Yrs 363 216 94 Sub Total 9,633 4,333 1,278 Total No. of Families Receiving Assistance Income Source Total No. of Families Total No. of Persons 55 and above 18-54 Below18 SSI 1,517 1,719 862 632 225 SS 1,536 1,770 1,189 408 173 Pension 188 190 182 8 0 TANF 398 412 42 367 3 General Assistance 294 295 58 237 0 Sub Total 3,933 4,386 2,333 1,652 401 Average Annual Income Family Size Avg. Annual Income Avg. Family Size Avg. Annual Income Per Family No. of Families 1 11,732.89$ 2.18 15,602.16$ 1,748 2 16,815.85$ 915 3 18,454.23$ 682 4 20,878.21$ 388 5 21,148.21$ 183 6 20,380.51$ 65 7 25,109.81$ 25 8 17,473.25$ 8 9 -$ 0 10 3,864.00$ 1 11 -$ 0 13 -$ 0 Sub Total 4,015 Jersey City Housing Authority Section 8, Demographic Summary Report 81
Earned Income Total No. of Families No. of Family Earned Income % of Family With Earned Income Total No. of Person No. of Person With Earned Income 4,302 1,687 39.21% 5,702 1,940 Details of Tenants with Earned Income Age Group HOH Spouse Co-Head Other Adult 55 and above 248 16 0 5 35 - 54 855 38 4 18 18 - 34 322 9 0 391 Sub Total 1,425 63 4 414 Ethnicity Relation Hispanic Non-Hispanic HOH 435 988 Non HOH 214 303 Sub Total 649 1,291 Family Language Language Total # by HOH % Total English N/A 0.00 Other N/A 0.00 Spanish N/A 0.00 Sub Total 0 0.00 Community service eligible Total No. of Person Non-Exempted Count 18 - 34 35 - 54 55 and above 0 0 0 0 0 Sub Total 0 0 0 0 Source: Jersey City Housing Authority Emphasys System N/A: Data not Available Section 8, Demographic Summary Report Jersey City Housing Authority (JCHA) 82
Year LIPH Change from Prior Year HCVP Change from Prior Year LIPH & HCVP Combined Change from Prior Year 2006 4,479 0.00% 3,576 0.00% 8,055 0.00% 2007 4,410 -1.54% 3,946 10.35% 8,356 3.74% 2008 4,112 -6.76% 4,862 23.21% 8,974 7.40% 2009 3,703 -9.95% 5,441 11.91% 9,144 1.89% 2010 3,562 -3.81% 5,712 4.98% 9,274 1.42% 2011 3,527 -0.98% 6,340 10.99% 9,867 6.39% 2012 3,885 10.15% 7,274 14.73% 11,159 13.09% 2013 4,082 5.07% 7,550 3.79% 11,632 4.24% 2014 4,207 3.06% 8,209 8.73% 12,416 6.74% 2015 4,454 5.87% 9,631 17.32% 14,085 13.44% Year LIPH Change from Prior Year HCVP Change from Prior Year LIPH & HCVP Combined (Average) Change from Prior Year 2006 $26,491 0.00% $18,165 0.00% $22,328 0.00% 2007 $26,358 -0.50% $18,231 0.36% $22,294 -0.15% 2008 $26,665 1.16% $18,094 -0.75% $22,379 0.38% 2009 $26,975 1.16% $18,115 0.12% $22,545 0.74% 2010 $27,524 2.03% $18,145 0.17% $22,834 1.28% 2011 $27,306 -0.79% $17,916 -1.26% $22,611 -0.98% 2012 $26,350 -3.50% $17,765 -0.84% $22,058 -2.45% 2013 $26,380 0.11% $17,581 -1.04% $21,981 -0.35% 2014 $26,160 -0.84% $17,474 -0.60% $21,817 -0.74% 2015 $26,171 0.04% $17,568 0.54% $21,870 0.24% Source: Jersey City Housing Authority Emphasys System JCHA Tenant Personal Income - Ten Year Trend Housing Authority of the City of Jersey City Demographic and Economic Statistics - Ten Year Trend JCHA Tenant household Population (LIPH, HCVP & Combined) - Ten Year Trend 83
Year City of Jersey City Change from Prior Year 2006 242,845 0.00% 2007 222,653 -8.31% 2008 229,007 2.85% 2009 242,513 5.90% 2010 248,005 2.26% 2011 250,317 0.93% 2012 254,444 1.65% 2013 257,345 1.14% 2014 262,146 1.87% 2015 265,681 1.35% Source: U.S. Census Bureau American Fact Finder Year Median Income Change from Prior Year 2006 24,384 0.00% 2007 27,722 13.69% 2008 31,533 13.75% 2009 31,643 0.35% 2010 29,458 -6.91% 2011 31,865 8.17% 2012 31,332 -1.67% 2013 30,201 -3.61% 2014 32,089 6.25% 2015 32,747 2.05% Source: U.S. Census Bureau American Fact Finder 2015 Population and Median Income are estimated. http://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_14_1YR_B07 011&prodType=table Personal Income - Ten Year Trend City of Jersey City Demographic and Economic Statistics - Ten Year Trend Population - Ten Year Trend http://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_14_1YR_B01 003&prodType=table 84
Year Rate Unemployment Employment Labor Force 2006 6.1% 6,830 105,841 112,671 2007 5.4% 6,112 107,586 113,698 2008 6.5% 7,429 107,556 114,985 2009 10.7% 12,503 104,871 117,374 2010 9.8% 13,468 123,551 137,019 2011 9.3% 12,923 125,589 138,512 2012 9.1% 12,783 127,139 139,922 2013 8.3% 11,541 127,427 138,968 2014 6.6% 9,140 129,195 138,335 2015 N/A N/A N/A N/A Source: State of New Jesey, Department of Labor and Workforce Development N/A: Data not Available http://lwd.state.nj.us/lpaapp/app Employment Status of the City of Jersey City - Ten Year Trend City of Jersey City 85
Estimate Margin of Error Percent Percent Margin of Error Estimate Margin of Error Percent Percent Margin of Error Estimate Margin of Error Percent Percent Margin of Error Estimate Margin of Error Percent Percent Margin of Error INDUSTRY Civilian employed population 16 years and over 126,011 +/-1,430 126,011 (X) 125,579 +/-1,750 125,579 (X) 125,142 +/-1,606 125,142 (X) 122,813 +/-2,147 122,813 (X) Agriculture, forestry, fishing and hunting, and mining 100 +/-54 0.10% +/-0.1 83 +/-62 0.10% +/-0.1 104 +/-81 0.10% +/-0.1 77 +/-65 0.10% +/-0.1 Construction 3,499 +/-442 2.80% +/-0.3 3,541 +/-442 2.80% +/-0.4 3,505 +/-439 2.80% +/-0.4 3,630 +/-470 3.00% +/-0.4 Manufacturing 8,004 +/-630 6.40% +/-0.5 8,297 +/-678 6.60% +/-0.5 8,019 +/-635 6.40% +/-0.5 7,953 +/-738 6.50% +/-0.6 Wholesale trade 3,670 +/-430 2.90% +/-0.3 4,169 +/-509 3.30% +/-0.4 4,195 +/-527 3.40% +/-0.4 4,342 +/-490 3.50% +/-0.4 Retail trade 12,845 +/-875 10.20% +/-0.7 13,405 +/-953 10.70% +/-0.7 12,744 +/-790 10.20% +/-0.6 11,451 +/-916 9.30% +/-0.7 Transportation and warehousing, and utilities 9,663 +/-731 7.70% +/-0.6 9,252 +/-709 7.40% +/-0.6 9,479 +/-828 7.60% +/-0.6 10,220 +/-756 8.30% +/-0.6 Information 4,400 +/-621 3.50% +/-0.5 4,599 +/-467 3.70% +/-0.4 4,966 +/-642 4.00% +/-0.5 4,575 +/-456 3.70% +/-0.4 Finance and insurance, and real estate and rental and leasing 17,130 +/-894 13.60% +/-0.7 17,460 +/-1,028 13.90% +/-0.8 18,085 +/-929 14.50% +/-0.7 17,599 +/-994 14.30% +/-0.8 Professional, scientific, and management, and administrative and waste management services 20,397 +/-990 16.20% +/-0.8 20,156 +/-1,051 16.10% +/-0.8 19,420 +/-1,071 15.50% +/-0.8 19,125 +/-1,119 15.60% +/-0.9 Educational services, and health care and social assistance 26,346 +/-1,139 20.90% +/-0.9 25,550 +/-1,058 20.30% +/-0.9 24,863 +/-994 19.90% +/-0.8 24,430 +/-1,210 19.90% +/-0.9 Arts, entertainment, and recreation, and accommodation and food services 9,996 +/-791 7.90% +/-0.6 9,393 +/-836 7.50% +/-0.6 9,208 +/-781 7.40% +/-0.6 9,085 +/-835 7.40% +/-0.6 Other services, except public administration 5,250 +/-519 4.20% +/-0.4 5,012 +/-610 4.00% +/-0.5 5,807 +/-592 4.60% +/-0.5 5,387 +/-631 4.40% +/-0.5 Public administration 4,711 +/-493 3.70% +/-0.4 4,662 +/-471 3.70% +/-0.4 4,747 +/-480 3.80% +/-0.4 4,939 +/-529 4.00% +/-0.4 TOTAL 252,022 0 126,012 0 251,158 0 125,580 0 250,284 0 125,143 0 245,626 0 122,814 0 CLASS OF WORKER Civilian employed population 16 years and over 126,011 +/-1,430 126,011 (X) 125,579 +/-1,750 125,579 (X) 125,142 +/-1,606 125,142 (X) 122,813 +/-2,147 122,813 (X) Private wage and salary workers 106,354 +/-1,562 84.40% +/-0.7 106,009 +/-1,856 84.40% +/-0.7 105,132 +/-1,568 84.00% +/-0.7 102,472 +/-2,346 83.40% +/-0.8 Government workers 14,597 +/-794 11.60% +/-0.6 14,638 +/-850 11.70% +/-0.7 14,881 +/-725 11.90% +/-0.6 15,342 +/-827 12.50% +/-0.7 Self-employed in own not incorporated business workers 4,984 +/-552 4.00% +/-0.4 4,858 +/-492 3.90% +/-0.4 5,011 +/-536 4.00% +/-0.4 4,906 +/-558 4.00% +/-0.5 Unpaid family workers 76 +/-45 0.10% +/-0.1 74 +/-45 0.10% +/-0.1 118 +/-83 0.10% +/-0.1 93 +/-74 0.10% +/-0.1 TOTAL 252,022 0 126,012 0 251,158 0 125,580 0 250,284 0 125,143 0 245,626 0 122,814 0 Source: U.S. Census Bureau, 5-Year American Community Survey 2007-2011 (5 YEARS) 2006-2010 (5 YEARS) Wage and Salary Employment City of Jersey City, New Jersey Total Employment by Industry: 2006 - 2013 (5 Year Trends) 2009-2013 (5 YEARS) 2008-2012 (5 YEARS) 86
Statistical Section (Unaudited) Schedules of Operating Information
SEMAP-Indicator # Scores Earned Maximum Score Waiting List Selection 15 15 Reasonable Rent 20 20 Determination of Adjusted Income 15 20 Utility Allowance Schedule 5 5 HQS Quality Control 5 5 HQS Enforcement 10 10 Expanding Housing Opportunities 5 5 Payment Standards 5 5 Timely Annual Reexaminations 10 10 Correct Tenant Rent Calculations 5 5 Pre-contract HQS 5 5 Continuing HQS Inspections 10 10 Lease-Up 15 20 Family Self Sufficiency 8 10 Deconcentration Bonus 5 PHAS Total Score 138 145 Designation Status: 95% Housing Authority of the City of Jersey City Section 8 Management Assessment Program (SEMAP) For Fiscal Year 2015 High Performer 87
PHAS Indicator Audited Projected Score* Un-Audited Score Maximum Score Physical 36 36 40 Financial 11 7 25 Management Operations 14 10 25 Capital Fund 10 10 10 PHAS Total Score 71 63 100 Designation Status: Source: HUD Financial Data Schedule (FDS) * Audited Scores are projected for 2015, since the Final Scores will available only after HUD Review Housing Authority of the City of Jersey City Public Housing Assessment System (PHAS) For Fiscal Year 2015 Sub-Standard Performer 88
PROJECT NAME AMP ACC UNITS FEDERAL PROPERTIES MARION GARDENS 002 233 BOOKER T. WASHINGTON APTS 003 319 HUDSON GARDENS 004 223 HOLLAND GARDENS 005 192 MONTGOMERY GARDENS 006 373 CURRIES WOODS 008 295 BERRY GARDENS 009 368 DWIGHT STREET HOMES 010 28 THOMAS J. STEWART APTS 016 48 TOTAL FEDERAL PRO PERTIES 2,079 NON-FEDERAL PROPERTIES UNITS 254 BERGEN AVENUE 254 36 ARLINGTON GARDENS 300 90 TOTAL NON-FEDERAL PROPERTIES 126 JCHA MANAGED PRO PERTIES 2,205 JCHA MANAGED PRO PERTIES Housing Authority of the City of Jersey City Summary of Public Housing Developments in Full Operation 89
PROJECT NAME AMP ACC UNITS LAFAYETTE VILLAGE 012 77 LAFAYETTE SENIOR LIVING CENTER 013 82 PACIFIC COURT 014 41 WOODWARD TERRACE 015 45 GLORIA ROBINSON COURT HOMES -PHASE I 017 58 BARBARA PLACE TERRACE 018 40 GLORIA ROBINSON COURT HOMES -PHASE II 019 71 OCEAN POINTE EAST AND WEST 020 40 GLENNVIEW TOWNHOUSES I 021 38 GLORIA ROBINSON COURT HOMES - PHASE III 022 24 PRIVATELY MANAGED PROPERTIES 516 Housing Authority of the City of Jersey City Summary of Public Housing Developments in Full Operation PRIVATELY MANAGED MIXED-FINANCE PROPERTIES 90
Building Communities...Creating Opportunities...Transforming Lives Updated 04/2014 91
Marion Gardens PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Stephanie Carson 57 Dales Avenue, Jersey City, NJ 07306-6807 Phone: (201) 706-4779 Fax: (201) 547-8982 YEAR COMPLETED 1940 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 37 5 490 SF 2 Bedroom 44 5 650 SF 3 Bedroom 75 1 880 SF 4 Bedroom 42 0 1150 SF 5 Bedroom 17 0 1260 SF 6 Bedroom 18 0 1500 SF Total 233 11 Dwelling units: 228 Non-dwelling units: 5 Number of buildings: 15 Number of stories: 3 Site Size: 12.33 acres Amenities/Special Features: Three buildings on this site (#7, #8, #9) occupy the Main Offices and other centralized ancillary functions of the Jersey City Housing Authority. Other features include a Manager’s Office (600 SF), Maintenance Shop (300 SF), Community Room (800 SF) and Storage (5000 SF). Site amenities include a basketball court and various play equipment/areas. CONSTRUCTION TYPE Three story (with basement/crawl space) masonry buildings with brick veneer and peaked shingle roofs (on 11 buildings) and flat EPDM roofs (on 4 buildings). DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesMarion Gardens.pubssg 92
Booker T. Washington Apartments PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Allison Ford 200 Colden Street, Jersey City, NJ 07302-4111 Phone: (201) 706-4756 Fax: (201) 547-6689 YEAR COMPLETED 1943 (Buildings 1 - 7)/1955 (Buildings 8 & 9) DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 85 1 500 SF 2 Bedroom 126 1 640 SF 3 Bedroom 79 1 750 SF 4 Bedroom 29 0 920 SF Total 319 3 Dwelling units: 307 Non-dwelling units: 12 Number of buildings: 9 Number of stories: 3 & 4 Site Size: 7.68 acres Amenities/Special Features: Features include a Manager’s Office (600 SF), Maintenance Shop (800 SF) and Community Room (2500 SF). Site amenities include basketball courts and various play equipment/areas. CONSTRUCTION TYPE Three and four story (with basement/crawl space) masonry buildings with brick veneer and peaked shingle roofs. DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesBooker T. Washington Apts.pubssg 93
Hudson Gardens PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Carol Tyler 27 Palisade Avenue, Jersey City, NJ 07306-1222 Phone: (201) 706-4773 Fax: (201) 547-3727 YEAR COMPLETED 1944 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 82 0 460 SF 2 Bedroom 84 0 650 SF 3 Bedroom 50 0 740 SF 4 Bedroom 6 0 880 SF Total 224 0 Dwelling units: 221 Non-dwelling units: 3 Number of buildings: 6 Number of stories: 3 & 4 Site Size: 4.46 acres Amenities/Special Features: The first and second floors of Building #1 are leased to outside tenants. Other features include a Manager’s Office (1500 SF), Maintenance Shop (1200 SF), Community Room (600 SF) and Child Care Facilities (3500 SF). Site amenities include a basketball court and various play equipment/areas. CONSTRUCTION TYPE Three and four story (with basement/crawl space) masonry buildings with brick veneer and peaked shingle roofs. DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesHudson Gardens.pubssg 94
Holland Gardens PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Carol Tyler 241 Sixteenth Street, Jersey City, NJ 07310-1119 Phone: (201) 706-4768 Fax: (201) 547-8985 YEAR COMPLETED 1944 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 70 0 460 SF 2 Bedroom 74 0 640 SF 3 Bedroom 42 0 740 SF 4 Bedroom 6 0 880 SF Total 192 0 Dwelling units: 189 Non-dwelling units: 3 Number of buildings: 5 Number of stories: 3 & 4 Site Size: 3.31 acres Amenities/Special Features: Features include a Manager’s Office (600 SF), Maintenance Shop (800 SF) and Community Room (600 SF). Site amenities include a basketball court and various play equipment/areas. CONSTRUCTION TYPE Three and four story (with basement/crawl space) masonry buildings with brick veneer and peaked shingle roofs. DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesHolland Gardens.pubssg 95
Montgomery Gardens PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Allison Ford 563 Montgomery Street, Jersey City, NJ 07302-3139 Phone: (201) 706-4785 Fax: (201) 547-8944 YEAR COMPLETED 1953 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 30 2 480 SF 2 Bedroom 290 10 700 SF 3 Bedroom 103 6 865 SF 4 Bedroom 24 1 1055 SF Total 447 19 Dwelling units: 434 Non-dwelling units: 13 Number of buildings: 6 Number of stories: 10 Site Size: 5.6 acres Amenities/Special Features: Features include a Manager’s Office (600 SF), Maintenance Shop (800 SF), Community Room (800 SF) and Child Care Facilities (2500 SF). Site amenities include a basketball court and various play equipment/areas. CONSTRUCTION TYPE Ten story (with basement) masonry high rise buildings with brick veneer and concrete deck EPDM flat roofs. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating families. This development is slated for demolition, with the exception of Building #1 which will be rehabbed. Updated 04/2014 X:JCHA Site SummariesMontgomery Gardens.pubssg 96
Curries Woods – 3 New Heckman Drive PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED/ RENOVATED 1957/1995 DEVELOPMENT PROFILE Type # Units #/HC Units Size 1 Bedroom 26 8 750 SF 2 Bedroom 52 7 930 SF 3 Bedroom 13 5 1100 SF Total 91 20 Dwelling units: 91 Non-dwelling units: 0 Number of buildings: 1 Number of stories: 14 Amenities/Special Features: Features include a Manager’s Office (1800 SF), Community Room (1260 SF), Storage (540 SF) and Laundry Room Facilities. Site amenities include a Rock Garden. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi-Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Fourteen story (with basement) masonry high rise building with brick veneer and concrete deck EPDM flat roof. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating senior citizens and handicapped persons. Updated 01/2014 X:JCHA Site SummariesCurries Woods 3 New Heckman.pubssg 97
Curries Woods – Phase I Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 1998 DEVELOPER/CONTRACTOR Paphian Enterprises, Ocean, NJ ARCHITECT Oppenheimer, Brady and Vogelstein, AIA Architects, New York, NY DEVELOPMENT PROFILE Type # Units #/HC Units Size 3 Bedroom (Row) 18 0 1000 SF 4 Bedroom (Row) 24 0 1200 SF 4 Bedroom (Walkup) 4 2 1200 SF Total 46 2 Dwelling units: 46 Non-dwelling units: 0 Number of buildings: 9 Number of stories: 2 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include various play equipment/ areas. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi-Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Two story (slab on grade) wood frame modular construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup and row types) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase I.pubssg 98
Curries Woods – Phase II Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 1998 DEVELOPER/CONTRACTOR Agia Mason, Inc., Ocean, NJ ARCHITECT Oppenheimer, Brady and Vogelstein, AIA Architects, New York, NY DEVELOPMENT PROFILE Type # Units #/HC Units Size 3 Bedroom (Row) 14 0 1080 SF 4 Bedroom (Row) 4 0 1270 SF 4 Bedroom (Walkup) 2 1 1300 SF Total 20 1 Dwelling units: 20 Non-dwelling units: 0 Number of buildings: 2 Number of stories: 2 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include various play equipment/ areas. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi-Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Two story (slab on grade) wood frame modular construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup and row types) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase II.pubssg 99
Curries Woods – Phase III Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 2000 DEVELOPER/CONTRACTOR Ernest Bock & Sons, Inc., Philadelphia, PA ARCHITECT Schwam Architects, Elkins Park, PA DEVELOPMENT PROFILE Type # Units #/HC Units Size 3 Bedroom (Walkup) 3 1 1200 SF 4 Bedroom (Walkup) 15 0 1400 SF Total 18 1 Dwelling units: 18 Non-dwelling units: 0 Number of buildings: 9 Number of stories: 2 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include private rear yards for each building. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi-Purpose Room with kitchen and Board of Education Program spaces and classrooms.. CONSTRUCTION TYPE Two story (slab on grade) wood frame modular construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase III.pubssg 100
Curries Woods – Phase IV Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 2003 DEVELOPER/CONTRACTOR K. Hovnanian Companies—Northeast, Inc., Edison, NJ ARCHITECT Lindemon WIncklemann Deupree Martin & Assoc., Jersey City, NJ DEVELOPMENT PROFILE Type # Units #/HC Units Size 2 Bedroom (Walkup) 14 2 1100 SF 3 Bedroom (Walkup) 14 0 1400 SF 3 Bedroom (Row) 10 0 1425 SF 4 Bedroom (Row) 2 0 1750 SF Total 40 2 Dwelling units: 40 Non-dwelling units: 0 Number of buildings: 5 Number of stories: 2 & 3 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include private rear yards for each ground floor unit. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi- Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Two and three story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup and row types) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase IV.pubssg101
Curries Woods – Phase V Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 2005 DEVELOPER/CONTRACTOR Ingerman Construction Company, Cherry Hill, NJ ARCHITECT Lindemon WIncklemann Deupree Martin & Assoc., Jersey City, NJ DEVELOPMENT PROFILE Type # Units #/HC Units Size 2 Bedroom (Walkup) 44 17 1100 SF 3 Bedroom (Walkup) 12 0 1400 SF 3 Bedroom (Row) 20 0 1425 SF 4 Bedroom (Row) 4 0 1750 SF Total 80 17 Dwelling units: 80 Non-dwelling units: 0 Number of buildings: 8 Number of stories: 2 & 3 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include private rear yards for each ground floor unit. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi- Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Two and three story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup and row types) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase V.pubssg 102
Berry Gardens I & II PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Louranett George 199 Ocean Avenue, Jersey City, NJ 07305-3827 92 Danforth Avenue, Jersey City, NJ 07305-3908 Phone: (201) 706-4751 Fax: (201) 547-8969 YEAR COMPLETED 1966 DEVELOPMENT PROFILE Type #/Units #/HC Units Size BLDG. A 0 Bedroom 19 0 390 SF 1 Bedroom 130 11 H&VI 480 SF 2 Bedroom 7 0 620 SF Subtotal 156 11 H&VI BLDG. B 0 Bedroom 19 1 HC/1 H&VI 390 SF 1 Bedroom 102 3 HC/3 H&VI 480 SF 2 Bedroom 9 1 HC 620 SF Subtotal 130 5 HC/4 H&VI Total Dwelling units: 285 Non-dwelling units: 1 Number of buildings: 2 Number of stories: 11 & 13 Site Size: 3.7 acres Amenities/Special Features: Features include a Manager’s Office (200 SF), Maintenance Shop (250 SF), Community Room (1500 SF) and Laundry Room Facilities. CONSTRUCTION TYPE Two, eleven and thirteen story (with basement), masonry high rise buildings with brick veneer and concrete deck EPDM flat roofs. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating senior citizens. Updated 01/2014 X:JCHA Site SummariesBerry Gardens.pubssg Berry Gardens I Bldg. A 199 Ocean Avenue Berry Gardens II Bldg. B 92 Danforth Avenue 103
Berry Gardens III & IV - Danforth Hall PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Louranett George 72-82 Danforth Avenue, Jersey City, NJ 07305-3986 Phone: (201) 706-4751 Fax: (201) 547-8969 YEAR ACQUIRED 1982 DEVELOPMENT PROFILE Type #/Units #/HC Units Size BLDG. C NO. 1 - 82 DANFORTH 0 Bedroom 12 4 HC 395 SF (AV.) 1 Bedroom 28 4 HC/1 H&VI 495 SF (AV.) Subtotal 40 8 HC/1 H&VI BLDG. D NO. 2 - 72 DANFORTH 0 Bedroom 9 0 386 SF (AV.) 1 Bedroom 33 1 HC 544 SF (AV.) Subtotal 42 1 HC Total Dwelling units: 72 Non-dwelling units: 10 Number of buildings: 2 Number of stories: 5 Site Size: 0.56 acres Amenities/Special Features: Features include a Maintenance Shop (100 SF) and Laundry Room Facilities. CONSTRUCTION TYPE Five story masonry mid-rise buildings with brick veneer and flat roofs. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating senior citizens. Updated 01/2014 X:JCHA Site SummariesDanforth Hall.pubssg 104
Dwight Street Homes PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Sammy Montanya 315 Randolph Avenue, Jersey City, NJ 07304-2843 Phone: (201) 706-4741 Fax: (201) 547-8993 PROJECT LOCATION Stegman Street & Dwight Street, Jersey City, NJ 07305 YEAR COMPLETED 1995 DEVELOPER/CONTRACTOR GD Turnkey Associates, Dover, NJ ARCHITECT Nadaskay Kopelson, Morristown, NJ DEVELOPMENT PROFILE #/Units #/Units still Type Constructed Owned by JCHA Size 3 BR Semi-detached(2 story) 46 9 1000 SF 4 BR Semi-detached (2 story) 46 9 1200 SF 3 BR HC Semi-detached (1 story) 8 2 978 SF Total 100 20 Number of buildings (constructed): 50 Number of buildings (still owned by JCHA): 10 CONSTRUCTION TYPE Two family, one and two story (with crawl space) wood frame modular construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (semi-detached type) rental apartments accommodating families. Updated 04/2014 X:JCHA Site SummariesDwight Street Homes.pubssg 105
Lafayette Village PROJECT SUMMARY PROPERTY MANAGEMENT McCormack Baron Ragan Property Manager, Diana Gallo 579 Grand Street, Jersey City, NJ 07304-4500 Phone: (201) 309-0309 Fax: (201) 309-0409 YEAR COMPLETED 2002 DEVELOPER McCormack Baron Salazar, St. Louis, Missouri CONTRACTOR D.T. Allen/Lighton Industries, Midland Park, NJ ARCHITECT Trivers Associates, St. Louis, Missouri DEVELOPMENT PROFILE Type #/Units #/HC Units Size 2 Bedroom Row (1.5 bath) 57 0 1024 SF 2 Bedroom Walkup (1 & 2 bath) 32 5 912 SF & 1011 SF 3 Bedroom Walkup (2 bath) 4 2 1218 SF 3 Bedroom Semi-detached (1.5 bath) 23 0 1432 SF 4 Bedroom Semi-detached (2.5 bath) 7 0 1551 SF 4 Bedroom Row (2.5 bath) 1 0 1551 SF Total 124 7 Dwelling units: 124 Non-dwelling units: 0 Public Housing Units: 77 Tax Credit Units: 24 Market Rate Units: 23 Number of buildings: 32 Number of stories: 2 Site size: 5.79 acres Amenities/Special Features: On-site Management /Community Building with Fitness Room. CONSTRUCTION TYPE Two story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesLafayette Village.pubssg 106
Lafayette Senior Living Center PROJECT SUMMARY PROPERTY MANAGEMENT Interstate Realty Management Company Property Manager, Michelle Middleton 463 Pacific Avenue, Jersey City, NJ 07304-3918 Phone: (201) 395-0900 Fax: (201) 395-0911 YEAR COMPLETED 2005 DEVELOPER Michaels Development Company, Marlton, NJ CONTRACTOR AST Development Corporation, Lavalette, NJ ARCHITECT Lindemon Winkelmann Deupree Martin & Associates, Jersey City, NJ DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 78 4 HC, 2 H&VI 620 SF 2 Bedroom 4 0 830 SF 2 Bedroom Superintendent 1 0 850 SF Total 83* 4 HC, 2 H&VI Dwelling units: 83 Non-dwelling units: 0 Number of buildings: 1 Number of stories: 4 Site size: 57,882 SF (1.33 acres) Amenities/Special Features: Laundry facilities on each floor, community room w/warming kitchen, 2 lounges, library, game/billiard room, computer room, doctor’s office, hair salon. *All units are handicap adaptable. CONSTRUCTION TYPE Pre-cast plank and steel/metal stud frame construction with brick and concrete pre-cast exterior panels and EPDM and standing seam metal roof. DEVELOPMENT TYPE Public housing elevator rental apartments accommodating senior citizens. Superintendent’s unit is a non-public housing unit. Updated 01/2014 X:JCHA Site SummariesLafayette Senior Living Center.pubssg 107
Pacific Court PROJECT SUMMARY PROPERTY MANAGEMENT Interstate Realty Management Co. Property Manager, Battana Rodriguez 148 Bramhall Avenue, Jersey City, NJ 07304-4702 Phone: (201) 333-7100 Fax: (201) 333-7151 YEAR COMPLETED 2006 DEVELOPER Michaels Development Corporation, Marlton, NJ CONTRACTOR WS Cumby & Son, Springfield, PA ARCHITECT Wallace, Roberts, & Todd, LLC., Philadelphia, PA DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Walkup 6 1 HC 775 SF 2 Bedroom Walkup 25 1 HC, 2 H&VI 1029 SF (AV.) 3 Bedroom Walkup 39 2 HC 1330 SF (AV.) 4 Bedroom Row 2 0 1550 SF Total 72 4 HC, 2 H&VI Dwelling units: 72 Non-dwelling units: 0 Public Housing Units: 5 Tax Credit Units: 15 Market Rate Units: 15 Public Housing/Tax Credit Units: 36 Super’s Unit: 1 Number of buildings: 8 Number of stories: 2 & 3 Site size: 2.58 acres Amenities/Special Features: On-site Management Office with meeting space. Individual exterior storage sheds for each unit. CONSTRUCTION TYPE Two and three story (slab on grade) wood frame construction with siding (brick veneer on 2 buildings on Pacific Avenue) and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesPacific Court.pubssg 108
Woodward Terrace PROJECT SUMMARY PROPERTY MANAGEMENT Interstate Realty Management Co. Property Manager, Battana Rodriguez 148 Bramhall Avenue, Jersey City, NJ 07304-4702 Phone: (201) 324-0222 Fax: (201) 324-1446 YEAR COMPLETED 2007 DEVELOPER Michaels Development Corporation, Marlton, NJ CONTRACTOR WS Cumby & Son, Springfield, PA ARCHITECT Wallace, Roberts, & Todd, LLC., Philadelphia, PA DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Walkup 2 0 836 SF 2 Bedroom Walkup 29 2 HC, 2 H&VI 1038 SF (AV.) 3 Bedroom Walkup 37 2 HC 1320 SF (AV.) 4 Bedroom Row 2 0 1550 SF Total 70 4 HC, 2 H&VI Dwelling units: 70 Non-dwelling units: 0 Public Housing Units: 11 Tax Credit Units: 15 Market Rate Units: 9 Public Housing/Tax Credit Units: 34 Super’s Unit: 1 Number of buildings: 5 Number of stories: 2 & 3 Site size: 2.31 acres Amenities/Special Features: Individual exterior storage sheds for each unit. CONSTRUCTION TYPE Two and three story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesWoodward Terrace.pubssg 109
Thomas J. Stewart Apartments PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Luz Santana 88-92 Erie Street, Jersey City, NJ 07302-2400 Phone: (201) 706-4778 Fax: (201) 547-3823 YEAR ACQUIRED 1983 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 0 Bedroom 8 1 HC/1 H&VI 490 SF 1 Bedroom 40 2 HC/5 H&VI 575 SF (AV.) Total 48 3 HC/6 H&VI Dwelling units: 48 Non-dwelling units: 0 Number of buildings: 1 Number of stories: 6 Site Size: 0.23 acres Amenities/Special Features: Features include a Manager’s Office (100 SF), Maintenance Shop (65 SF), Community Room (600 SF), Storage (48 SF) and Laundry Room Facilities. Building amenities include a rooftop communal space. CONSTRUCTION TYPE Six story (with basement) masonry mid-rise building with brick veneer and built up flat roof. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating senior citizens. Updated 01/2014 X:JCHA Site SummariesThomas J. Stewart Apts.pubssg 110
Gloria Robinson Court Homes Phase I & II PROJECT SUMMARY PROPERTY MANAGEMENT Ingerman Management Corporation Property Manager, Karla Baez-Norlander 348 Duncan Ave., Jersey City, NJ 07306-7002 Phone: (201) 333-8107 Fax: (201) 985-9493 YEAR COMPLETED PHASE I—2009, PHASE II—2010 DEVELOPER The Ingerman Group, Cherry Hill, NJ CONTRACTOR Ingerman Construction Company, Cherry Hill, NJ ARCHITECT Kitchen & Associates, Collingswood, NJ DEVELOPMENT PROFILE PHASE I Type #/Units #/HC Units Size 1 Bedroom Walkup 6 1 HC 800 SF 2 Bedroom Walkup 28 2 HC 1010 SF (AV.) 3 Bedroom Walkup 26 1 HC, 1 H&VI 1374 SF (AV.) 4 Bedroom Walkup 6 1 H&VI 1830 SF Total 66 4 HC, 2 H&VI PHASE II Type #/Units #/HC Units Size 1 Bedroom Walkup 33 2 HC 730 SF 2 Bedroom Walkup 19 2 HC 958 SF (AV.) 3 Bedroom Walkup 26 1 HC, 2 H&VI 1265 SF (AV.) Total 78 5 HC, 2 H&VI Dwelling units: 144 (Total), 66 (Phase I), 78 (Phase II) Non-dwelling units: 0 Public Housing Units: 5 (Phase I), 6 (Phase II) Tax Credit Units: 0 Market Rate Units: 8 (Phase I), 7 (Phase II) Public Housing/Tax Credit Units: 53 (Phase I), 65 (Phase II) Super’s Unit: 0 Number of buildings: 5 Number of stories: 3 & 4 Site size: 4.19 acres Amenities/Special Features: Management Office space including Community Space and Computer Room. Laundry facilities are available on each floor of Building D and in each unit in the other buildings. CONSTRUCTION TYPE Three and four story (slab on grade) wood frame construction with brick veneer and siding and flat roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 04/2014 X:JCHA Site SummariesGloria Robinson Court Homes Phase I & II.pubssg 111
Barbara Place Terrace PROJECT SUMMARY PROPERTY MANAGEMENT Interstate Realty Management Company Property Manager, Michelle Middleton 471 Pacific Avenue, Jersey City, NJ 07304-3912 Phone: (201) 395-0900 Fax: (201) 395-0911 YEAR COMPLETED 2009 DEVELOPER Michaels Development Corporation, Marlton, NJ CONTRACTOR WS Cumby & Son, Springfield, PA ARCHITECT Wallace, Roberts, & Todd, LLC., Philadelphia, PA DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Walkup 12 2 HC, 1 H&VI 852 SF (AV.) 2 Bedroom 1 Bath Walkup 19 2 HC, 1 H&VI 963 SF (AV.) 2 Bedroom 2.5 Bath Walkup 14 0 1164 SF 3 Bedroom 1.5 Bath Walkup 18 0 1285 SF (AV.) 3 Bedroom 2 Bath Walkup 2 0 1212 SF 4 Bedroom 2.5 Bath Walkup 2 0 1879 SF Total 67 4 HC, 2 H&VI Dwelling units: 67 Non-dwelling units: 0 Public Housing Units: 0 Tax Credit Units: 16 Market Rate Units: 10 Public Housing/Tax Credit Units: 40 Super’s Unit: 1 Number of buildings: 7 Number of stories: 3 & 4 Site size: 2.27 acres Amenities/Special Features: Individual exterior storage sheds for each unit. Management Office space including Community Space, Computer Room, Laundry Facilities and Exercise Facilities. CONSTRUCTION TYPE Three and four story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesBarbara Place Terrace.pubssg 112
Ocean Pointe PROJECT SUMMARY PROPERTY MANAGEMENT Interstate Realty Management Company Property Manager, Nina Parker-Davis 460 Ocean Avenue, Jersey City, NJ 07305-3269 Phone: (201) 435-4646 Fax: (201) 435-0109 YEAR COMPLETED 2010 DEVELOPER Michaels Development Company, Marlton, NJ CONTRACTOR W.S. Cumby & Sons, Springfield, PA ARCHITECT KNTM Architects, LLC, East Orange, NJ DEVELOPMENT PROFILE EAST BLDG. Type #/Units #/HC Units Size 1 Bedroom 24 3 650-700 SF 2 Bedroom 3 0 850 SF Total 27 3 WEST BLDG. Type #/Units #/HC Units Size 1 Bedroom 29 3 685-870 SF 2 Bedroom 3 0 920 SF Total 32 3 Dwelling units: 59* Non-dwelling units: 0 Public Housing/Tax Credit Units: 40 Section 8 Voucher Units: 18 Super’s Unit: 1 Number of buildings: 2 Number of stories: 4 Site size: 0.84 acres Amenities/Special Features: Laundry facilities on each floor, Community Room, Warming Kitchens, Computer Room, Game Room, and TV/Library Room. *All units are handicap adaptable. CONSTRUCTION TYPE Wood stud frame construction with masonry. DEVELOPMENT TYPE Elevator rental apartments accommodating senior citizens. Updated 01/2014 X:JCHA Site SummariesOcean Pointe.pubssg West Bldg. 461 Ocean Avenue East Bldg. 460 Ocean Avenue 113
Glennview Townhouses Phase I PROJECT SUMMARY PROPERTY MANAGEMENT Interstate Realty Management Company Property Manager, Michelle Middleton 463 Pacific Avenue, Jersey City, NJ 07304-3918 Phone: (201) 395-0900 Fax: (201) 395-0911 YEAR COMPLETED 2011/2012 DEVELOPER Michaels Development Corporation, Marlton, NJ CONTRACTOR Prestige Renovations, Marlton, NJ ARCHITECT Wallace, Roberts, & Todd, LLC., Philadelphia, PA DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Walkup 14 0 874 SF (AV.) 2 Bedroom 1 Bath Walkup 20 4 HC, 2 H&VI 931 SF (AV.) 2 Bedroom 2.5 Bath Walkup 6 0 1206 SF 3 Bedroom 1.5 Bath Walkup 19 0 1388 SF (AV.) 3 Bedroom 2 Bath Walkup 2 0 1241 SF 4 Bedroom 2.5 Bath Walkup 2 0 2002 SF Total 63 4 HC, 2 H&VI Dwelling units: 63 Non-dwelling units: 0 Public Housing Units: 5 Tax Credit Units: 17 Market Rate Units: 8 Public Housing/Tax Credit Units: 33 Super’s Unit: 1 Number of buildings: 6 Number of stories: 3 & 4 Site size: 1.933 acres Amenities/Special Features: Individual exterior storage sheds for each unit. CONSTRUCTION TYPE Three and four story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesGlennview Townhouses Phase I.pubssg 114
Gloria Robinson Court Homes Phase III PROJECT SUMMARY PROPERTY MANAGEMENT Pennrose Management Company Regional Manager, Velma Gonzalez 344 Duncan Avenue, Jersey City, NJ 07306 Phone: (201) 332-4609 Fax: (201) 333-3908 YEAR COMPLETED 2012 DEVELOPER Pennrose Properties, LLC, Philadelphia, PA CONTRACTOR AJD Construction, Leonardo, NJ ARCHITECT Kitchen & Associates, Collingswood, NJ DEVELOPMENT PROFILE PHASE I Type #/Units #/HC Units Size 1 Bedroom Walkup 6 1 HC 800 SF 2 Bedroom Walkup 22 2 HC 1010 SF (AV.) 3 Bedroom Walkup 26 1 HC, 1 H&VI 1374 SF (AV.) 4 Bedroom Walkup 6 1 H&VI 1830 SF Total 60 4 HC, 2 H&VI Dwelling units: 60 Non-dwelling units: 0 Public Housing Units: 5 Tax Credit Units: 15 Market Rate Units: 6 Tax Credit/Project Based Section 8 Units: 15 Public Housing/Tax Credit Units: 19 Super’s Unit: 1 Number of buildings: 2 Number of stories: 3 & 4 Site size: 1.92 acres Amenities/Special Features: CONSTRUCTION TYPE Three and four story (slab on grade) wood frame construction with brick veneer and siding and flat roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 04/2014 X:JCHA Site SummariesGloria Robinson Court Homes Phase III.pubssg 115
254 Bergen Avenue PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Sammy Montanya 315 Randolph Avenue, Jersey City, NJ 07304-2843 Phone: (201) 706-4741 Fax: (201) 547-8993 PROJECT LOCATION 254 Bergen Avenue, Jersey City, NJ 07305-1639 YEAR ACQUIRED 1992 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Flat 5 1 HC 730 SF 2 Bedroom Flat 17 1 HC, 1 H&VI 950 SF (AV.) 3 Bedroom Flat 8 0 1267 SF 3 Bedroom Duplex 4 0 1400 SF (AV.) 4 Bedroom Duplex 2 0 1600 SF (AV.) Total 36 2 HC, 1 H&VI Dwelling units: 36 Non-dwelling units: 0 Number of buildings: 1 Number of stories: 5 Site Size: 0.27 acres Amenities/Special Features: Features include a Laundry Room (190 SF) and Meeting Room/Kitchen (1175 SF). CONSTRUCTION TYPE Five story masonry mid-rise building with brick veneer and a flat roof. DEVELOPMENT TYPE Affordable housing (elevator type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site Summaries254 Bergen Avenue.pubssg 116
Arlington Gardens PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Sammy Montanya 315 Randolph Avenue, Jersey City, NJ 07304-2843 Phone: (201) 706-4741 Fax: (201) 547-8993 YEAR ACQUIRED 1992 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 2 Bedroom 90 0 775 SF (AV.) Total 90 0 Dwelling units: 90 Non-dwelling units: 0 Number of buildings: 5 Number of stories: 3 Site Size: 2.45 acres Amenities/Special Features: Features include a Manager’s Office (300 SF) and Maintenance Shop (200 SF). Site amenities include a play equipment area. CONSTRUCTION TYPE Three story (with basement/crawl space) masonry low-rise buildings with brick veneer and pitched shingle roofs. DEVELOPMENT TYPE Affordable housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesArlington Gardens.pubssg117
Year Full Time Part Time Total 2006 317 29 346 2007 226 19 245 2008 223 52 275 2009 224 28 252 2010 227 25 252 2011 213 19 232 2012 174 12 186 2013 172 13 185 2014 148 7 155 2015 147 5 152 Source: JCHA Payroll information as of March 31. Housing Authority of the City of Jersey City Employee Head Count 2006 - 2015 118
EXHIBIT-A Extension Approval Letter from GFOA  
Memorandum Date: December 2, 2015 To: Samuel Moolayil From: Stephen Gauthier, Director/Technical Services Center Subject: CAFR Extension – Jersey City Housing Authority, New Jersey Your request for an extension in submitting the March 31, 2015 comprehensive annual financial report (CAFR) to the Certificate of Achievement for Excellence in Financial Reporting program has been approved. Because of the importance of timeliness to the quality of financial reporting, extensions of more than a few days beyond this additional extension are available only if extraordinary circumstances are causing the delay in the preparation of the CAFR. Please follow the instructions on the Certificate Program Participant Application for transmitting your information. Your submission must be sent (postmarked or e-mailed) to our office by December 31, 2015. Please be aware that the results of the review will be delayed because of the extension of the submission deadline. Further, and to again emphasize the importance of timeliness, the Special Review Executive Committee, which is responsible for overseeing the Certificate Program, has adopted a formal program policy that does not permit participants to receive an extension two years in a row for essentially the same reason. That is, your next CAFR will be eligible for an extension only if the circumstances delaying its timely submission are substantially different from those that required an extension this past year. Accordingly, please be sure to make whatever plans may be necessary to ensure that you will be able to submit your March 31, 2016 CAFR in time to meet the regular program deadline of six months following the close of the fiscal year. If you have any questions regarding this matter, or if we may be of any further assistance, please do not hesitate to contact us. Sincerely yours, GOVERNMENT FINANCE OFFICERS ASSOCIATION Stephen J. Gauthier Director/Technical Services Center SJG/ks Government Finance Officers Association 203 N. LaSalle Street, Suite 2700 Chicago, Illinois 60601-1210 312.977.9700 fax: 312.977.4806 119

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JCHA CAFR 2015-Final updated

  • 1.
    “The Mission ofthe Jersey City Housing Authority is to develop and manage Housing of Choice of the highest standards, which is safe, affordable, sustainable and accessible; and, in partnership with outside organizations, foster resident responsibility and self- sufficiency.” Comprehensive Annual Financial Report (CAFR)-FYE March 31, 2015 OUR MISSION Phone: 201-706-4600 Fax: 201-547-8955 web : www.jcha-gov.us 400 US Highway#1 (Marion Gardens) Jersey City, NJ 07306 Jersey City Housing Authority Prepared by The Office of the Chief Financial Officer Samuel Moolayil, CFO
  • 3.
    JERSEY CITY HOUSINGAUTHORITY Jersey City, New Jersey Comprehensive Annual Financial Report For the Fiscal Years Ended March 31, 2015 and 2014 TABLE OF CONTENTS Page No. INTRODUCTORY SECTION Letter of Transmittal………………………………………………………………… 1 Organization Chart………………………………………………………………….. 7 List of Principal Officials………………………………………………………........ 8 FINANCIAL SECTION Report of Independent Auditors…………………………………………………. 9 Management’s Discussion and Analysis…………………………………………. 12 Basic Financial Statements: Combined Statements of Net Position……………………………………………… 24 Combined Statements of Revenues, Expenses and Changes in Net Position………. 25 Combined Statements of Cash Flows………………………………………………. 26 Notes to Combined Financial Statements…………………………………………... 28 Required Supplementary Information Supplementary Information Combined Schedule of Expenditures of Federal Awards………………………….. 53 Notes to Combined Schedule of Expenditures of Federal Awards………………… 57 Schedule of Findings and Questioned Costs……………………………………….. 60 Financial Data Schedule……………………………………………………………. 62
  • 4.
    TABLE OF CONTENTS(Continued) Page No. STATISTICAL SECTION (Unaudited) Financial Trends Revenues, Expenses and Changes in Net Assets………………………….. 72 Net Assets by Category……………………………………………………. 73 Capital Assets by Category………………………………………………... 74 Revenue Capacity Revenue on a Gross Basis…………………………………………………. 75 Debt Capacity Long Term Bond Payable…………………………………………………. 76 Demographics and Economical Information Resident Demographics – Low Rent Program…………………………….. 77 Resident Demographics – Housing Choice Voucher Program…………….. 80 JCHA Demographics and Economic Statics – Ten Year Trend…………… 83 City of Jersey City Demographics and Economic Statics – Ten Year Trend 84 Employment Status of the City of Jersey City – Ten Year Trend…………. 85 Wage and Salary Employment, City of Jersey City, New Jersey - Total Employment by Industry 2006-2013 -5 Year Trends……………….. 86 Operating Information Section 8 Management Assessment Program (SEMAP) Indicators……… 87 Public Housing Assessment System (PHAS) Indicators…………………. 88 Summary of Public Housing Developments – JCHA Run Properties……. 89 Summary of Public Housing Developments – Privately Run Properties… 90 JCHA Real Estate Portfolio………………………………………………. 91 Employee Head Count……………………………………………………. 118 EXHIBIT-A Extension Approval Letter from GFOA Director Stephen J. Gauthier…… 119
  • 5.
    The Jersey City Housing Authority Hosts Graduation forFamily Self- Sufficiency (FSS) Graduate JERSEY CITY HOUSING AUTHORITY BOARD OF DIRECTORS AND FSS GRADUATE, TRACIE THOMPSON NOVEMBER 6, 2015 The Jersey City Housing Authority held a graduation ceremony during its November 4, 2015 Board Meeting to celebrate and acknowledge the accomplishment of its most recent graduate of the Family Self-Sufficiency Program (FSS) Program. Since its inception, the Jersey City Housing Authority had has over 100 families complete the FSS Program. The celebration was for graduate Tracie Thompson. Ms. Thompson is a full-time Financial Counselor at Jersey City Medical Center – Barnabas Health. The program has allowed her to improve her skills as a prospective first-time homebuyer. Only a little over four years after joining the program, Ms. Thompson established a savings plan, found a full-time job, received credit counseling, and completed first-time homebuyer education. The Family Self-Sufficiency (FSS) Program is a voluntarily five-year HUD program that enables families assisted through the Housing Choice Voucher (HCV) program to increase their earned income and reduce their dependency on welfare assistance and rental subsidies through case management and referral services. There are currently over 200 participants enrolled in this program at the Jersey City Housing Authority. Families who are eligible to participate in the FSS program should contact their caseworker to discuss participation on the program. To learn more about the Family Self-Sufficiency Program, please visit our webpage at www.jcha-gov.us. Diana Coral, FSS Program Coordinator, Tracie Thompson, FSS Graduate and Patricia Ramirez, HCVP Director
  • 6.
  • 7.
    1    December 2, 2015 TheBoard of Commissioners Jersey City Housing Authority Jersey City, New Jersey 07036 The Real Estate Assessment Center (“REAC”) of the U.S. Department of Housing and Urban Development (“HUD”) requires all public housing authorities to submit within nine months of the close of each fiscal year a complete set of audited financial statements, presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and audited in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards by a firm of independent certified public accountants. We are pleased to submit the Comprehensive Annual Financial Report (“CAFR”) of the Jersey City Housing Authority (the “Authority” or “JCHA”) for the years ended March 31, 2015 and 2014. This report consists of management's representations concerning the finances of the Authority. Consequently, management assumes full responsibility for the completeness and reliability of all the information presented in this report. To provide for a reasonable basis for making these representations, management of the Authority has established a comprehensive internal control framework that is designed both to protect its assets from loss, theft, or misuse and, to compile sufficient reliable information for the preparation of the Authority's financial statements in conformity with GAAP. Because the cost of internal controls should not outweigh its benefits, the Authority's comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free of material misstatements. As management, we assert that to the best of our knowledge and belief, this financial report is complete and reliable in all material respects. The Authority's financial statements have been audited by Fallon and Larsen LLP, a firm of licensed certified public accountants. The purpose of the independent audit is to
  • 8.
    2    provide reasonable assurancethat the financial statements of the Authority for the year ended March 31, 2015, taken as a whole, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. The independent auditors issued an unqualified opinion on the Authority's financial statements for the year ended March 31, 2015, indicating that they were fairly presented, in all material respects, and in conformity with GAAP. The independent auditors' report is presented as the first component of the financial section of this report. The independent audit of the financial statements of the Authority is a component of the federally mandated “Single Audit”, which is designated to meet the special needs of federal grantor agencies. GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis (“MD&A''). This letter of transmittal is designed to complement MD&A and should be read in conjunction with it. The Authority's MD&A can be found immediately following the independent auditors' report. Profile of the Authority The Authority was created by a City of Jersey City ordinance in accordance with the State of New Jersey Local Housing Authorities Law in 1938 (N.J.S.A. 40A:12A). The governing body of the Authority is composed of seven members, five members appointed by the governing body, one by the mayor and one by the Commissioner of Community Affairs of the State of New Jersey. The Authority is the second largest public housing authority in New Jersey charged with providing low-income residents of Jersey City with decent, safe and affordable housing. As of March 31, 2015 the Authority owns and operates 2,079 low-rent Public Housing rental ACC units located in 9 Asset Management Properties (AMPs), 126 non-federal units in two AMPs and 742 Mixed-Finance Units of which 516 ACC Units, consists of 10 AMPs. HUD has also contracted with the Authority for the support of 3,969 Housing Choice Vouchers. Under the Housing Choice Voucher Program, the Authority administers contracts with private landlords owning rental property. The Authority subsidizes the family’s rent through housing assistance payment made to the landlord. The program
  • 9.
    3    is administered underan Annual Contributions Contract (ACC) with HUD. The Mission of the Jersey City Housing Authority is to develop and manage Housing of Choice of the highest standards, which is safe, affordable, sustainable and accessible; and, in partnership with outside organizations, foster resident responsibility and self-sufficiency. The Authority's basic financial statements consist of a single enterprise fund, which includes the following programs: • Low Rent Housing (“LRH”) Program • Section 8 Housing Choice Voucher (“HCV”) Programs (HCV, Mainstream, VASH etc.) • Public Housing Capital Fund (“CFP”) Program • Resident Opportunity and Self-sufficiency (“ROSS”) Program • Revitalization of Severely Distressed Public Housing (“HOPE VI”) Program • Supportive Housing for Persons with Disabilities • Shelter Plus Care Program (“SPC”) • Section 8 Moderate Rehabilitation Single Room Occupancy (“SRO”) • State and Local Programs Please refer to Note 1 to the financial statements for a description of Authority programs. For further analysis, we have also included supplemental financial schedules for the programs individually, which can be found following the notes to the basic financial statements. Economic Factors As a public housing authority ("PHA"), the Authority's primary source of funding is from US Department of Housing and Urban Development (HUD). The amount of funding received from the Department of Housing and Urban Development is affected by Congressional housing appropriation, legislation and the federal budget. The Authority continues to be challenged with unpredictable Federal funding levels from HUD. Public Housing programs will continue to operate at a deficit due to the low Project Expenses Level (PEL) funding and the proration set by HUD based on the House Committee appropriations cut backs every year. On November, 2005, HUD’s interim operating fund rule became effective. The rule amended the Public Housing Operating Fund Program's regulations and provided a new formula for the distribution of operating subsidies to PHAs. This rule converted public
  • 10.
    4    housing to anasset management based system of budgeting, accounting and funding. It also required PHAs to convert to project based management within five years of the effective date. The change was driven by a ‘Harvard Cost Study’ and the real estate property concept of asset management, in which a property manager considers both the short-term needs and the long-term positioning of real estate assets. Under the interim rule the JCHA was a decliner. For PHAs which would not benefit from the new formula funding (decliners), HUD provided additional incentive funding called the ‘Transition Funding’, for early conversion to Project-based on a sliding scale over a five year period. The JCHA has been deemed compliant under “Asset Based Management” regulations and has stopped the annual loss subsequently. The Authority is taking steps to reduce the impact of future deficits through continued compliance with asset based management, energy conservation, and various other expense reduction measures. Financial Results and Outlook The Authority's operating loss as of March 31, 2015 was $4,073,086 as compared to $7,516,850 for the previous year. Operating loss decreased by 3,443,764 or 45.81% primarily due to the reduction of operating expenses in the amount of $4,431,606 which was offset by the reduction of operating revenues in the amount of $987,742. Improve Central Office and Administrative Efficiency. Through the years, the Authority has taken aggressive measures to contain spending through various expense reduction programs. Operating Budget reflects initiatives through which central office and administrative office activities will be streamlined and resources redirected to the frontline. Although the Authority has been taking measures to control costs, savings have been offset by increases in certain other costs such as employee entitlements including pension, and health insurance. Energy Conservation. The Authority entered into a lease purchase agreement on November 23, 2010 for energy savings equipment expiring in November 2025 with Siemens Building Technologies, Inc. for capital equipment lease program. Under the terms of the lease, interest accrued at 5.32% from lease inception through May 2012 at time payments of $69,950 including interest at 2.95% will be made through termination. The bonds mature at various times through November 2025 bearing interest at 2.95%. The Authority is currently in the process of refinancing these bonds for an even lower interest rate of 2.2397%.
  • 11.
    5    Public Housing AssessmentSystem (PHAS). In 1999, HUD instituted the Public Housing Assessment System ("PHAS”) process which measures the performance of PHAs in four categories: Physical Assessment, Financial Condition, Management Operations, and Resident Satisfaction. The Financial component is used to determine if the PHA has sufficient financial resources and is managing those resources effectively to support its operations. During 2011, HUD issued the PHAS Interim Rule, which revised the previous PHAS guidelines. Under the PHAS Interim Rule, the performance of PHAs is measured in the following categories: Physical Assessment, Financial Condition, Management Operations and Capital Fund Program. One significant change pertains to the financial performance. Under the interim Rule, HUD will use indicators that cover both the Financial Condition and Management Operations components to assess the financial performance of PHAs. The overall score for Fiscal Year End of March 31, 2014, under the Interim Rule was 60, which designates the Authority as a Sub-Standard Performer. The final PHAS score for the Fiscal Year Ended March 31, 2015 will not be received from HUD until after the submission and review and the approval of the audited Financial Data Schedule by REAC. JCHA is projecting a score of 71 for Fiscal Year Ended March 31, 2015. Section Eight Management Assessment Program (SEMAP). The SEMAP measures the performance of the public housing agencies (PHAs) that administer the Housing Choice Voucher program in 14 key areas. The 14 key indicators of PHA performance are: (i) Proper selection of applicants from the housing choice voucher waiting list, (ii) Sound determination of reasonable rent for each unit leased, (iii) Establishment of payment standards within the required range of the HUD fair market rent, (iv) Accurate verification of family income, (v) Timely annual reexaminations of family income, (vi) Correct calculation of the tenant share of the rent and the housing assistance payment, (vii) Maintenance of a current schedule of allowances for tenant utility costs, (viii) Ensure units comply with the housing quality standards before families enter into leases and PHAs enter into housing assistance contracts, (ix) Timely annual housing quality inspections, (x) Performing of quality control inspections to ensure housing quality, (xi) Ensure that landlords and tenants promptly correct housing quality deficiencies, (xii) Ensure that all available housing choice vouchers are used, (xiii) Expand housing choice outside areas of poverty or minority concentration, and (xiv) Enroll families in the family self-sufficiency (FSS) program as required and help FSS families achieve increases in employment income.
  • 13.
    JCHA in News JERSEYCITY - The Board of Commissioners of the Jersey City Housing Authority has selected its preferred candidate for the position of executive director – Marvin Walton, a Jersey City resident and public housing professional with 13 years of leadership experience at three of the nation’s largest housing authorities. “The selection of Marvin Walton speaks to the talent we are bringing to Jersey City government as we focus on building communities and creating greater opportunities for all of our residents,” said Mayor Steven Fulop. “The Jersey City Housing Authority has been a tremendous partner in restoring neighborhoods in Jersey City and providing access to quality affordable and public housing in all areas. With Marvin at the helm, we will be able to advance our goal of creating more affordable housing throughout the city.” For the past six years, Mr. Walton has served in leadership roles at the Newark Housing Authority, the largest housing authority in New Jersey and the eleventh largest in the nation, with a portfolio of 44 public housing communities and a total of over 8,000 rental units. He has served as the Deputy Executive Director for the past four years and previously served as Chief Financial Officer. Jersey City names new Housing Chief Hudson Reporter. Jan 15, 2015
  • 14.
    Jersey City HousingAuthority ORGANIZATION CHART November 2015 BOARD OF COMMISSIONERS Raj Mukherji, Chair Reginald Jones, Vice-Chair Aneesah Abdullah Freddie Kitchens Thomas Kukla Hector Fuentes Vacant BOARD SECRETARY EXECUTIVE DIRECTOR Marvin L. Walton ASST. SECRETARY TO THE BOARD CARMEN CARRILLO ACCOUNTING & FINANCE Arlyn Agustin Comptroller COMPLIANCE & TECHNICAL SUPPORT Joyce Worthington Director DEVELOPMENT Stephen Cea, Esq. Director & In-House Counsel RENTAL ASSISTANCE PROGRAM Patricia Ramirez Director Purchasing Accounting Accts Payable Accounts Receivable Payroll Insurances SKILLED TRADES: Skilled Trade Services HVAC Systems Maintenance Contract Services Fire Safety Housing Choice Vouchers Homeless Prevention Programs HUMAN RESOURCES COORDINATOR Victoria Guingon Compliance: Privately- managed HOPE VI Sites (10 current) Compliance: PH & Affordable housing Compliance: HCVP Compliance: Tenancy Applicant Selection Management Information Systems Stewart Apartments Records Management Mayor’s Task Force on Quality of Life Revitalization Programs Design / Publications Capital Fund Homeownership Local Hiring & MBE Sustainability Energy Performance Contracts (EPC) Not-for-Profit Corps TAB - RAB ASSET MANAGEMENT: Marion Gardens Booker T. Washington Hudson Gardens Holland Gardens Montgomery Gardens Curries Woods Berry Gardens Arlington Gardens Dwight Street Homes 254 Bergen Avenue DEPUTY EXECUTIVE DIRECTOR Patricia Madison LEGAL SERVICES Eilleen Ingram-Willis, Esq. IN-HOUSE COUNSEL ACCOUNTING &FINANCE Samuel Moolayil CHIEF FINANCIAL OFFICER File:2015-05JCHAOrganizationChart(cj) 7
  • 15.
      JERSEY CITY HOUSINGAUTHORITY LIST OF PRINCIPAL OFFICIALS Name Title __________________________________________________________ BOARD OF COMMISSIONERS Raj Mukherji………….………………………………….….Chairperson Reginald Jones………………..……………………..... Vice Chairperson Aneesah Abdullah……………………………………………… Member Freddie Kitchens……………………………………………….. Member Thomas Kukla………………………………………………….. Member Hector Fuentes………………………………………………..... Member Vacant………………………………………………………...... Member EXECUTIVE STAFF Marvin L. Walton ……………………………….….. Executive Director Patricia Madison…………………………… Deputy Executive Director Samuel G. Moolayil……………………………. Chief Financial Officer Eilleen Ingram-Willis…………………………….….. In-house Counsel Stephen F. Cea………… Director of Development & In-house Counsel Patricia Ramirez………... Director of Rental Assistance/HCV Programs Joyce Worthington…… Director of Compliance and Technical Support Ken Pinnock……………………………………….... Purchasing Agent Vicki Guingon…………………………. Human Resources Coordinator     8 
  • 16.
    Raj Mukherji Chairperson BOARD OFCOMMISSIONERS Rejinald J. Jones Vice-Chairperson Aneesah Abdullah Freddie Kitchens Thomas Kukla Hector Fuentes Vacant
  • 17.
    Marvin L. Walton ExecutiveDirector EXECUTIVE STAFF Patricia Madison Deputy Executive Director Samuel G. Moolayil Chief Financial Officer Eilleen Ingram-Willis, Esq. In-House Counsel Stephen F. Cea, Esq. Dir. of Dev & In-House Counsel Patricia Ramirez Director of HCV Programs Joyce Worthington Director of Compliance & IT Kenneth Pinnock Purchasing Agent Vicki Guingon HR Coordinator
  • 18.
  • 19.
    252 Washington Street732-503-4257 Main Suite B 732-341-1424 Fax Toms River, NJ 08753 www.falloncpa.com 9 INDEPENDENT AUDITOR'S REPORT The Board of Commissioners Jersey City Housing Authority: Report on the Financial Statements We have audited the accompanying financial statements of the Jersey City Housing Authority ("the Authority") as of and for the years ended March 31, 2015 and 2014, and the related notes to the financial statements, which collectively comprise the Authority’s basic financial statements as listed in the accompanying table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America. This includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States and audit requirements as prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
  • 20.
    10 INDEPENDENT AUDITOR'S REPORT(continued) Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Jersey City Housing Authority as of March 31, 2015 and 2014, and the respective changes in financial position and cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audits of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audits were conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Jersey City Housing Authority's basic financial statements. The Schedule of Expenditures of Federal awards, as required by Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations is presented for purposes of additional analysis and is not a required part of the basic financial statements. The accompanying financial data schedule is also not a required part of the financial statements and are presented for the purposes of additional analysis as required by the U.S. Department of Housing and Urban Development. The schedule of expenditures of federal awards and the financial data schedule are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule of expenditures of federal awards and the financial data schedule are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
  • 21.
    11 INDEPENDENT AUDITOR'S REPORT(continued) Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 31, 2015 on our consideration of the Jersey City Housing Authority's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Jersey City Housing Authority's internal control over financial reporting and compliance. October 31, 2015 Toms River, New Jersey
  • 22.
    (From left toright) Jonathan Lubonski, Michaels Development Company; Glenis Polanco-Rodriguez, JCHA Commissioner; Reginald Jones, JCHA Commissioner; Holly Leicht, US Department of Housing and Urban Development; Patricia Madison, JCHA Acting Executive Director; Ava Goldman, President, Michaels Development Company; Marcos Vigil, Deputy Mayor; Aneesah Abdullah, JCHA Vice Chairperson; Anthony Marchetta, Executive Director NJHMFA; Freddie Kitchens, JCHA Commissioner Groundbreaking of Glennview Townhouses II in Jersey City
  • 23.
  • 24.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 12 Management’s Discussion and Analysis (MD&A) is designed to (a) assist the reader in focusing on significant financial issues, (b) provide an overview of the Authority’s financial activity, and (c) identify changes in the Authority’s financial position for the fiscal years ended March 31, 2015 and 2014. Please read it in conjunction with the Authority’s financial statements. Overview of the financial statements The Authority’s financial statements are prepared on the accrual basis of accounting in accordance with generally accepted accounting principles. The Authority’s accounting records are structured as an enterprise fund with revenues recognized when earned, rather than when received. Expenses are recognized when incurred, not when they are paid. Capital assets are capitalized and depreciated over their estimated useful lives. The accounting for enterprise funds is similar to the accounting used by businesses. See the notes to the financial statements for a summary of the Authority’s significant accounting policies. Following the MD&A are the basic financial statements of the Authority together with notes, which are essential to a full understanding of the data contained in the financial statements. The Authority’s basic financial statements are designed to provide readers with a broad overview of the Authority’s finances. The Statements of Net Position present information similar to a Balance Sheet. The Statement of Net Position reports all financial and capital resources of the Authority. The statement is presented in the format where assets, minus liabilities, equal net position. Assets and liabilities are presented in order of liquidity, and are classified as current and non-current. Net position is reported in three broad categories: Net Investment in Capital Assets: This component consists of all capital assets, reduced by the outstanding balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction, or improvement of those assets. Restricted Net Position: This component consists of assets that are constrained by limitations placed on their use by creditors (such as debt covenants), grantors, contributors, laws, regulations, etc. Unrestricted Net Position: This component consists of assets that are not restricted and do not meet the definition of Net Investment in Capital Assets.
  • 25.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 13 Overview of the financial statements (continued) The Statements of Revenues, Expenditures, and Changes in Net Position present information showing how the Authority’s net position changed during the year. This statement includes operating revenues, such as rental income, HUD operating grants, operating expenses, such as administrative, tenant services, utilities, maintenance, and depreciation, and non-operating revenue and expenses, such as capital grant revenue, investment income, interest expense, and gains or losses from the sale or disposition of capital assets. The focus of the statement is the change in net position, which is similar to net income or loss for a business entity. The Statements of Cash Flows report net cash provided by or used by operating activities, non-capital financing activities, capital and related financing activities and investing activities. The Notes to Financial Statements provide additional information that is essential to a full understanding of the information included in the financial statements. In addition to the basic financial statements and accompanying notes, this report includes two types of supplementary information: required supplementary information and other supplementary information. Required supplementary information must be included to conform to generally accepted accounting principles. Management’s Discussion and Analysis is the required supplementary information. Other supplementary information is not required by generally accepted accounting principles but is presented for additional analysis purposes or to meet other requirements. The financial data schedule is required by the U.S. Department of Housing and Urban Development (HUD). The schedule of expenditures of federal awards is required by the U.S. Office of Management and Budget and Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Program information Low Income Public Housing: The Authority owns and manages 2,079 units and 516 mixed finance ACC units managed by private management companies. Under the Low Income Public Housing program, the Authority rents units that it owns, to low-income households. The program is operated under an Annual Contributions Contract (ACC) with HUD, and HUD provides Operating Subsidy and Capital Funding to enable the Authority to provide housing at a rent that is based on 30% of household income. The Conventional Public Housing Program includes the Capital Fund Program, which is the primary funding source for physical and management improvements to the Authority’s properties.
  • 26.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 14 Program information (continued) Section 8 Housing Choice Vouchers: HUD has contracted with the Authority for the support for 3,969 Housing Choice Vouchers. Under the Housing Choice Voucher Program, the Authority administers contracts with landlords that own rental property. The Authority subsidizes the family’s rent through a Housing Assistance Payment made to the landlord. The program is administered under an Annual Contributions Contract (ACC) with HUD. HUD provides Annual Contribution Funding to enable the Authority to structure a lease that sets the participants’ rent at 30% of household income. Financial position and analysis Table 1 compares the Authority’s financial position for the fiscal years ended March 31, 2015 and 2014: 2015 2014 Increase (Decrease) Percent Variance Assets: Cash & cash equivalents $ 2,917,541 $ 4,429,489 $ (1,511,948) -34.13% Other Current assets 2,164,333 1,417,480 746,853 52.69% Non-current assets 157,773,993 160,023,055 (2,249,062) -1.41% Total assets 162,855,867 165,870,024 (3,014,157) -1.82% Liabilities: Current liabilities 3,386,083 5,439,743 (2,053,660) -37.75% Non-current liabilities 19,607,063 21,495,599 (1,888,536) -8.79% Total liabilities 22,993,146 26,935,342 (3,942,196) -14.64% Net position: Invested in capital assets 75,018,512 78,044,065 (3,025,553) -3.88% Restricted net position 62,274,143 60,266,036 2,008,107 3.33% Unrestricted net position 2,570,066 624,581 1,945,485 311.49% Total net position $ 139,862,721 $ 138,934,682 $ 928,039 0.67%
  • 27.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 15 Financial position and analysis (continued) Cash and Cash Equivalents decreased by $1,511,948 or 34.13%.  This is primarily due to the use of $372,904 in operating activities, $528,033 in capital and related financing activities, $582,455 in investing activities and contributed $28,556 to restricted cash accounts. Other Current Assets increased by $746,853 or 52.69% primarily due to increases in amounts due from HUD regarding Housing Choice Voucher program funding. Non-current Assets decreased by $2,249,062 or 1.41% primarily due to depreciation expense exceeding capital asset purchases for the year by $4,286,276 which was offset by a $2,008,658 increase in notes receivable and the related accrued interest. Current Liabilities decreased by $2,053,660 or 37.75% primarily due to a substantial decrease in accrued utilities at year-end. Non-current liabilities decreased by $1,888,536 or 8.79% due primarily to payments on long term debt and reduction of compensated absences owed. Table 2 focuses on the changes in net position: 2015 2014 Increase (Decrease) Percent Variance Operating revenue & expense Operating revenue $ 61,968,440 $ 62,956,282 $ (987,842) -1.57% Operating expenses 66,041,526 70,473,132 (4,431,606) -6.29% Operating loss (4,073,086) (7,516,850) 3,443,764 -45.81% Non-operating revenues & expenses 5,001,125 4,731,079 270,046 5.71% Increase (decrease) in net position 928,039 (2,785,771) 3,713,810 -133.31% Net position, beginning of year 138,934,682 141,720,453 (2,785,771) -1.97% Net position, end of year $ 139,862,721 $ 138,934,682 $ 928,039 0.67%     
  • 28.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 16 Financial position and analysis (continued) Table 3 presents a summary of the Authority’s revenue by source: 2015 2014 Increase (Decrease) Percent Variance Operating revenue Tenant revenue $ 9,207,090 $ 10,249,414 $ (1,042,324) -10.17% HUD operating grants 51,930,212 51,940,100 9,888 0.02% Other income 831,138 766,768 64,370 8.39% Total operating revenue 61,968,440 62,956,282 (987,842) -1.57% Non-operating revenues Investment income 111,199 177,168 (65,969) -37.24% Mortgage interest income 2,033,120 1,969,853 63,267 3.21% Capital grants 3,574,922 3,391,894 183,028 5.40% Total non-operating revenues 5,719,241 5,538,915 180,326 3.26% Total revenues $ 67,687,681 $ 68,495,197 $ (807,516) -1.18%   Operating Loss decreased 3,443,764 or 45.81% primarily due to the reduction of operating expenses in the amount of $4,431,606 which was offset by the reduction of operating revenues in the amount of $987,842.   Tenant Revenues decreased by $1,042,324 or 10.17% primarily because Montgomery Gardens, a public housing development, saw a decline in tenant rents of $923,274 as several units were taken offline as part of a major redevelopment program for the project. Capital Grants increased by $183,028 or 5.40% due to more capital improvement works and corresponding revenue received as compared to last year.
  • 29.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 17 Financial position and analysis (continued) Table 4 presents a summary of the Authority’s operating expenses: 2015 2014 Increase (Decrease) Percent Variance Administrative $ 7,544,974 $ 8,379,595 $ (834,621) -9.96% Tenant services 244,774 248,376 (3,602) -1.45% Utilities 4,786,042 5,281,180 (495,138) -9.38% Maintenance 6,686,516 7,442,365 (755,849) -10.16% Protective services 127,725 412,765 (285,040) -69.06% Insurance 739,371 1,163,024 (423,653) -36.43% General expense 2,894,043 3,862,881 (968,838) -25.08% Extraordinary maintenance expense 355,923 504,655 (148,732) -29.47% Depreciation expenses 7,128,508 6,812,033 316,475 4.65% Housing assistance payments 35,533,650 36,366,258 (832,608) -2.29% Total expenses $ 66,041,526 $ 70,473,132 $ (4,431,606) -6.29% Administrative Expenses decreased by $834,621 or 9.96% primarily due to the reduction in salaries and benefits. Utilities Expenses decreased $495,138 or 9.38% primarily due to the reduction in electricity and gas charges. Maintenance expenditures decreased by $755,849 or 10.16% primarily due to the reduction in labor and employee benefits. Protective Services expenditures decreased by $285,040 or 69.06% primarily due to decreased salaries and benefit costs as security services are now contracted out. General Expenses and Insurance costs decreased by $968,838 and $423,653 respectively primarily due to the reduction in other general expenses and insurance expense. Depreciation Expenses increased by $316,475 or 4.65% primarily due to more assets being placed in service during the fiscal year. Housing Assistance Payments decreased by $832,608 or 2.29% primarily due to insufficient funding and leasing freeze during the fiscal year.
  • 30.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 18 Budgetary Analysis The Authority adopts a consolidated annual operating budget for all programs. The budget for Low Income Public Housing is adopted on the basis of accounting prescribed by HUD, which differs in some respects from generally accepted accounting principles. Low Income Public Housing Table 5 Budget Actual Variance Favorable (Unfavorable) Percent Variance Favorable (Unfavorable) Rental income $ 8,075,098 $ 7,976,498 $ (98,600) -1.22% Operating grants 14,772,021 13,042,494 (1,729,527) -11.71% Interest income 21,000 2,134,456 2,113,456 10064.08% Other income 829,404 518,452 (310,952) -37.49% Total revenue 23,697,523 23,671,900 (25,623) -0.11% Administrative 4,712,737 4,882,304 (169,567) -3.60% Tenant services 23,298 38,487 (15,189) -65.19% Utilities 4,320,829 4,419,081 (98,252) -2.27% Maintenance 6,380,296 6,471,330 (91,034) -1.43% Protective services 317,616 117,060 200,556 63.14% Insurance 821,834 417,457 404,377 49.20% General expenses 5,401,506 2,235,372 3,166,134 58.62% Interest expense - 603,306 (603,306) 100.00% Extraordinary maintenance - 33,235 (33,235) 100.00% Depreciation - 5,983,144 (5,983,144) 100.00% Total expenses 21,978,116 25,200,776 (3,222,660) -14.66% Income (over)/under expense $ 1,719,407 $ (1,528,876) $ 3,197,037 185.94%
  • 31.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 19 Budgetary Analysis (continued) Operating grants were over budgeted by $1,729,527 or 11.71% as the Authority received less operating subsidy than expected. Interest Income was under budgeted by $2,113,456. This was primarily due to accrued mortgage interest income not being included with the budgeted income. Other Income was over budgeted by $310,952. This was primarily due to over projection in other income. Administrative Expense was under budgeted by $169,567. This was primarily due to retirement and final payoff of some administrative staff than originally anticipated. Protective Services were over budgeted by $200,556 or 63.14% primarily due to decreased salaries and benefits for security personnel as most services were contracted out. General Expenses and Insurance costs were over budgeted by $3,166,134 and $404,377 respectively as certain employee benefits, insurance expense and other general expenses incurred were less than originally budgeted.
  • 32.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 20 Budgetary Analysis (continued) Housing Choice Vouchers Table 6 Budget Actual Variance Favorable (Unfavorable) Percent Variance Favorable (Unfavorable) Revenue HCV Grant revenue $ 36,233,310 $ 37,280,858 $ 1,047,548 2.89% Port-In Revenue - 90,610 90,610 100.00% Other Income 117,950 128,300 10,350 8.77% Total revenue 36,351,260 37,499,768 1,148,508 3.16% Expenses Administrative 2,593,633 2,849,955 (256,322) -9.88% Depreciation - 6,019 (6,019) -100.00% Maintenance - 1,654 (1,654) 100.00% Insurance 81,855 87,737 (5,882) -7.19% General expense - 291,450 (291,450) 100.00% HAP expense 33,593,232 34,385,267 (792,035) -2.36% Total expenses 36,268,720 37,622,082 1,353,362 3.73% Income (over)/under expense $ 82,540 $ (122,314) $ (204,854) -248.19% HCV Grant Revenue was under budgeted by $1,047,548 or 2.89%. This was primarily due to budget estimates assuming a lower proration of funding and more unit months under lease. Administrative Expenses were under budgeted by $256,322. This is mainly due to an increase in salaries and benefits. HAP Expenses were under budgeted by $792,035. This was primarily due to more unit months being under lease than anticipated.
  • 33.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 21 Capital assets Table 7 summarizes the Authority’s investment in capital assets: 2015 2014 Increase (Decrease) Percent Variance Land $ 5,265,611 $ 5,265,611 $ - 0.00% Buildings, improve. and equip 196,438,315 196,438,315 - 0.00% Construction in progress 10,184,052 7,341,820 2,842,232 38.71% 211,887,978 209,045,746 2,842,232 1.36%                      Less: accumulated depreciation (118,480,445) (111,351,937) (7,128,508) 6.40% Capital assets, net $ 93,407,533 $ 97,693,809 $ (4,286,276) -4.39% Acquisitions are capitalized at cost and depreciated using the straight-line method of depreciation. Additional information and details can be found in the Notes to the Financial Statements. Capital funding available for 2015 is as follows: Table 8 Grant Total Budget Expended through 3/31/2015 Budget Remaining at 3/31/2015 Capital Fund Program 2011 501-11 4,791,622 4,767,408 24,214 Capital Fund Program 2011C 501-11C 998,640 10,524 988,116 Capital Fund Program 2012 501-12 3,872,643 2,992,052 880,591 Capital Fund Program 2013 501-13 3,728,805 2,140,631 1,588,174 Capital Fund Program 2013E 501-13E 250,000 164,000 86,000 Capital Fund Program 2014 501-14 3,821,981 1,119,040 2,702,941 $ 6,270,036
  • 34.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 22 Analysis of Debt Activity Table 9 The Authority entered into a lease purchase agreement in the amount $8,500,000 on November 23, 2010 for energy savings equipment expiring in November 2025. Under the terms of the lease, interest accrued at 5.32% from lease inception through May 2012 at which time monthly payments of $69,950 including interest at 2.95% will be made through termination. March 31, 2014 $ 8,227,317.00 Current year debt paid 760,902.00 March 31, 2015 $ 7,466,415.00 In December of 2007, the Authority entered into a Capital Fund leveraging pool. The New Jersey Housing and Mortgage Finance Agency issued tax exempt, twenty year Capital Fund Program Revenue Bonds totaling $18,585,000. The Authority's share amounted to $10,000,000 and this accrues interest between 4% and 5% and is payable semiannually with principal on May 1st and November 1st semiannually. March 31, 2014 $ 7,980,000.00 Current year debt paid 410,000.00 March 31, 2015 $ 7,570,000.00 Mortgage loan payable to the New Jersey Housing Mortgage Finance Agency (NJHMFA) in the original amount of $1,077,250 bearing interest at a rate of 7.75% with monthly principal and interest payments, maturing in September 2022. March 31, 2014 $ 565,973.00 Current year debt paid 49,582.00 March 31, 2015 $ 516,391.00 Mortgage loan payable to the Department of Community Affairs of the State of New Jersey as part of the Balanced Housing Program in the original amount of $1,073,315 bearing no interest and maturing in September 2022. March 31, 2014 $ 1,073,315.00 Current year debt paid - March 31, 2015 $ 1,073,315.00
  • 35.
    Management’s Discussion andAnalysis (MD&A) For the Fiscal Years ended March 31, 2015 and 2014 23 Analysis of Debt Activity (continued) Table 9 (continued) Mortgage loan payable to the Department of Community Affairs of the State of New Jersey from the Petroleum Overcharge Reimbursement Fund in the original amount of $283,860 bearing no interest and maturing in September 2022. March 31, 2014 $ 283,860.00 Current year debt paid - March 31, 2015 $ 283,860.00 Loan payable to the Community Preservation Corporation dated December 29, 2005 in the original amount of $1,750,000. Principal and interest payments are due monthly at 4.87% maturing in March 2036. March 31, 2014 $ 1,519,279.00 Current year debt paid 40,239.00 March 31, 2015 $ 1,479,040.00 Significant economic factors affecting the Authority are as follows: • Federal funding of the US Department of Housing and Urban Development (HUD). • Local Labor supply and demand, which can affect salary and wage rates. • Local inflationary, recessionary and employment trends which can affect resident incomes and therefore, the amount of rental income. • Inflationary pressure on utility rates, supplies and other costs. Request for Information This financial report is designed to provide a general overview of the Authority’s accountability for all those interested. If you should have additional questions regarding the financial information, you can contact our office in writing at the following address: Jersey City Housing Authority Attn: Samuel Moolayil, Chief Financial Officer 400 U.S. Highway #1 (Marion Gardens) Jersey City, New Jersey 07306 
  • 36.
  • 37.
    See accompanying notesto financial statements. 24 JERSEY CITY HOUSING AUTHORITY STATEMENTS OF NET POSITION AS OF MARCH 31, 2015 AND 2014 ASSETS 2015 2014 Current assets: Cash and cash equivalents $ 2,917,541 $ 4,429,489 Accounts receivable, net 1,382,830 665,721 Prepaid expenses and other current assets 757,650 734,090 Inventories 23,853 17,669 Total current assets 5,081,874 5,846,969 Non-current assets: Restricted cash 2,092,317 2,063,761 Notes receivable, long term 62,274,143 60,265,485 Capital assets, net 93,407,533 97,693,809 Total non-current assets 157,773,993 160,023,055 Total assets 162,855,867 165,870,024 LIABILITIES Current liabilities: Accounts payable 300,464 1,123,534 Accrued expenses 982,512 735,421 Accrued compensated absences, current 164,842 226,664 Tenant security deposits 378,678 375,210 Current portion of capital lease 622,892 604,807 Current portion of loans and bonds payable 520,623 499,815 Other current liabilities 416,072 1,874,292 Total current liabilities 3,386,083 5,439,743 Non-current liabilities: Accrued compensated absences, net of current portion 1,483,574 2,039,949 Capital lease, net of current portion 6,843,523 7,622,510 Loans and bonds payable, net of current portion 10,401,983 10,922,612 Non-current liabilities - other 877,983 910,528 Total non-current liabilities 19,607,063 21,495,599 Total liabilities 22,993,146 26,935,342 NET POSITION Net position: Net investment in capital assets 75,018,512 78,044,065 Restricted 62,274,143 60,266,036 Unrestricted 2,570,066 624,581 Total net position $ 139,862,721 $ 138,934,682
  • 38.
    See accompanying notesto financial statements. 25 JERSEY CITY HOUSING AUTHORITY STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 2015 2014 Operating revenues: Tenant revenue $ 9,207,090 $ 10,249,414 HUD operating grants 51,930,212 51,940,100 Other government grants - 4,540 Other revenues 831,138 762,228 Total operating revenue 61,968,440 62,956,282 Operating expenses: Administrative 7,544,974 8,379,595 Tenant services 244,774 248,376 Utilities 4,786,042 5,281,180 Ordinary maintenance and operations 6,686,516 7,442,365 Protective services 127,725 412,765 Insurance expense 739,371 1,163,024 General expenses 2,894,043 3,862,881 Extraordinary maintenance 355,923 504,655 Housing assistance payments 35,533,650 36,366,258 Depreciation 7,128,508 6,812,033 Total operating expenses 66,041,526 70,473,132 Operating gain (loss) (4,073,086) (7,516,850) Non-operating revenues (expenses): Investment income 111,199 177,168 Mortgage interest income 2,033,120 1,969,853 Interest expense (718,116) (807,836) Net non-operating revenues 1,426,203 1,339,185 Loss before capital grants (2,646,883) (6,177,665) Capital grants 3,574,922 3,391,894 Change in net position 928,039 (2,785,771) Net position, beginning of year 138,934,682 141,720,453 Net position, end of year $ 139,862,721 $ 138,934,682
  • 39.
    See accompanying notesto financial statements. 26 JERSEY CITY HOUSING AUTHORITY STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 2015 2014 Cash Flows from Operating Activities: Cash received from grantors $ 51,126,001 $ 51,841,369 Cash received from tenants and others 10,118,030 11,038,556 Cash paid to employees (9,180,071) (8,592,775) Cash paid to suppliers and vendors (52,436,864) (54,237,022) Net cash flows provided (used) by operating activities (372,904) 50,128 Cash Flows from Capital and Related Financing Activities: Principal payments on long term debt (1,260,723) (549,332) Purchases of capital assets (2,842,232) (2,648,599) Capital grant contributions 3,574,922 3,391,894 Net cash flows provided (used) by capital and related financing activities (528,033) 193,963 Cash Flows from Investing Activities: Repayment of notes receivable - 200,000 Interest expense (718,116) (814,417) Investment income 135,661 177,168 Net cash flows provided (used) by investing activities (582,455) (437,249) Net increase (decrease) in cash (1,483,392) (193,158) Cash and cash equivalents, beginning of year 6,493,250 6,686,408 Cash and cash equivalents, end of year $ 5,009,858 $ 6,493,250 2015 2014 A reconciliation of cash and cash equivalents to Statements of Net Position is as follows: Cash and cash equivalents $ 2,917,541 $ 4,429,489 Restricted cash and cash equivalents 2,092,317 2,063,761 $ 5,009,858 $ 6,493,250
  • 40.
    See accompanying notesto financial statements. 27 JERSEY CITY HOUSING AUTHORITY STATEMENTS OF CASH FLOWS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 2015 2014 Reconciliation of operating loss to net cash provided (used) by operating activities: Operating gain (loss) $ (4,073,086) $ (7,516,850) Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities: Depreciation 7,128,508 6,812,033 Bad debt expense 11,239 - (Gain) loss on disposal of fixed assets - 113,511 Changes in assets and liabilities: Accounts receivable - other government 30,088 32,025 Accounts receivable - HUD (834,299) (103,271) Accounts receivable - tenants (125,956) (53,585) Accounts receivable - misc 202,290 - Prepaid expenses (24,031) 61,172 Inventory (6,184) 145,164 Accounts payable (823,070) (167,118) Accrued expenses 247,091 (80,089) Accrued compensated absences (618,197) (390,740) Tenant security deposits 3,468 3,819 Other current liabilities (1,458,220) 1,149,402 Other liabilities (32,545) 44,655 Net cash provided (used) by operating activities $ (372,904) $ 50,128
  • 41.
    28 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Organization The Housing Authority of the City of Jersey City ("Jersey City Housing Authority")("the Authority") is a governmental, public corporation created under federal and state housing laws for the purpose of engaging in the development, acquisition and administrative activities of the low-income housing program and other programs with similar objectives for low and moderate income families residing in the City of Jersey City ("the City"). The Authority is responsible for operating certain low-rent housing programs in the City under programs administered by the U.S. Department of Housing and Urban Development ("HUD"). These programs provide housing for eligible families under the United States Housing Act of 1937, as amended. The Authority is governed by an appointed board of commissioners who serve multi-year terms. The governing board is essentially autonomous but responsible to the United States Department of Housing and Urban Development ("HUD") and the Division. An executive director is appointed by the Authority's board to manage the day-to-day operations of the Authority. B. Description of Programs The Authority maintains its accounting records by program. A summary of the significant programs operated by the Authority is as follows: Low Rent Public Housing Program The public housing program is designed to provide low-cost housing. Under this program, HUD provides funding via an annual contributions contract. These funds, combined with the rental income received from tenants, are available solely to meet the operating expenses of the program. Housing Choice Vouchers The Authority administers a program of rental assistance payments to private owners on behalf of eligible low-income families under Section 8 of the Housing and Urban Development Act of 1974. The program provides payments covering the difference between the maximum rent on a dwelling unit, as approved by HUD, and the amount of rent contribution by a participating family. Public Housing Capital Fund Program The purpose of the Capital Fund Program is to provide another source of funding to cover the cost of physical and management improvements and rehabilitation on existing low-income housing and improving the central office facilities. Funding for this program is provided by grants from HUD.
  • 42.
    29 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) B. Description of Programs (continued) Resident Opportunity and Supportive Services Program The purpose of the Resident Opportunities and Self Sufficiency (ROSS) grant program is to provide funds for job training and supportive services to help residents of public housing transition from welfare to work. ROSS also provides funding to link elderly/disabled residents to critical services which can help them continue to live independently. Revitalization of Severely Distressed Public Housing ("Hope VI") Program The purpose of the HOPE VI Program is to foster initiative and comprehensive approaches to the problems of severely distressed public housing developments and their residents, including new ways for public housing authorities and HUD to work together, in collaboration with residents. Funding for this program is provided by HUD. However, grantees are encouraged to leverage grant funds with other private or governmental funds to create additional affordable housing. Supportive Housing for Persons with Disabilities The purpose of the Supportive Housing for Persons with Disabilities Program is to expand the supply of supportive housing for very low-income persons with disabilities. Choice Neighborhoods Planning Grants Choice Neighborhoods Planning Grants support the development of comprehensive neighborhood transformation plans. The transformation plan should integrate effective strategies to implement public and/or assisted housing revitalization, the coordination and design of supportive services, including educational opportunities for children, and neighborhood-level planning to improve a range of neighborhood assets. Shelter Plus Care Program ("SPC") Shelter Plus Care is a program designed to provide housing and supportive services on a long-term basis for homeless persons with disabilities, (primarily those with serious mental illness, chronic problems with alcohol and/or drugs, and acquired immunodeficiency syndrome (AIDS) or related diseases) and their families who are living in places not intended for human habitation (e.g., streets) or in emergency shelters. Section 8 Moderate Rehabilitation Single Room Occupancy ("SRO") Under the SRO program, HUD enters into annual contribution contracts with PHA's in connection with the moderate rehabilitation of residential properties. PHA's make Section 8 rental assistance payments to participating landlords on behalf of homeless individuals who rent the rehabilitated dwellings. HUD provides rental assistance for a period up to ten (10) years. Owners are compensated for the cost of rehabilitation as well as the other costs of maintaining the property, through rental assistance payments.
  • 43.
    30 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) C. Reporting Entity In accordance with Statement No. 61 of the Government Accounting Standards Board (“GASB”), the Authority’s basic financial statements include those of the Jersey City Housing Authority and any component units. Component units are legally separate, tax-exempt organizations whose majority of officials are appointed by the primary government or the organization is fiscally dependent on the primary government and there is a potential for those organizations either to provide specific financial benefits to, or impose specific financial burdens on, the primary government. An organization has a financial benefit or burden relationship with the primary government if any one of the following conditions exist: 1. The primary government (Authority) is legally entitled to or can otherwise access the organization's resources. 2. The primary government is legally obligated or has otherwise assumed the obligation to finance the deficits of, or provide financial support to, the organization. 3. The primary government is obligated in some manner for the debt of the organization. Based on the application of the above criteria, this report includes all programs and activities operated by the Authority. There were no additional entities required to be included in the reporting entity under these criteria in the current fiscal year. Furthermore, the Authority is not included in any other reporting entity on the basis of such criteria. D. Basis of Accounting The Authority's financial statements are prepared in accordance with GASB Statement No. 34, Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments (as amended) ("GASB 34"). GASB 34 requires the basic financial statements to be prepared using the economic resources measurement focus and the accrual basis of accounting and requires the presentation of a Statement of Net Position, a Statement of Revenues, Expenses and Changes in Net Position and Statement of Cash Flows. GASB 34 also requires the Authority to include management's discussion and analysis as part of the required supplemental information. The Authority's primary source of non-exchange revenue relates to grants and subsidies. In accordance with GASB Statement No. 33, Accounting and Financial Reporting for Non-exchange Transactions, grant and subsidy revenue are recognized at the time eligible program expenditures occur and/or the Authority has complied with the grant and subsidy requirements. In accordance with GASB Statement No. 20, Accounting and Financial Reporting for Proprietary Funds and Other Governmental Activities that Use Proprietary Fund Accounting, the Authority has elected to apply all Financial Accounting Standards Board pronouncements, Accounting Principles Board Opinions and Accounting Research Bulletins issued that do not conflict with or contradict GASB Pronouncements.
  • 44.
    31 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) D. Basis of Accounting (continued) On January 30, 2008, HUD issued PIH Notice 2008-9 which requires housing assistance payments ("HAP") under proprietary fund be reported as restricted net assets (position), with the associated cash and investments also being reported on HUD's Financial Data Schedule ("FDS") as restricted. Any unused administrative fees should be reported as unrestricted net assets (position), with the associated assets being reported on the FDS as unrestricted. Both administrative fee and HAP revenue continue to be recognized under the guidelines set forth in GASB Statement No. 33. Accordingly, both the time and purpose restrictions as defined by GASB 33 are met when these funds are available and measurable, not when these funds are expended. The Housing Choice Voucher program is no longer a cost reimbursement grant, therefore the Authority recognizes unspent administrative fee and HAP revenue in the reporting period as revenue for financial statement reporting. Any investment income earned on these funds are reflected in the net position account on which the investment income was earned. That is; investment income earned on HAP cash balances are credited to the HAP restricted net position account and investment income earned on administrative fee cash balances are credited to the unrestricted net position account. E. Use of Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the allowance for doubtful accounts, accrued expenses and other liabilities, depreciable lives of properties and equipment, amortization of leasehold improvements and contingencies. Actual results could differ significantly from these estimates. F. Cash and Cash Equivalents New Jersey Authorities are required by N.J.S.A. 40A:5-14 to deposit public funds in a bank or trust company having its place of business in the State of New Jersey and organized under the laws of the United States or State of New Jersey or the New Jersey Cash Management Fund. N.J.S.A. 40A:5-15.1 provides a list of securities which may be purchased by New Jersey Authorities. The Authority is required to deposit funds in public depositories protected from loss under the provisions of the Governmental Unit Deposit Protection Act ("GUDPA"). GUDPA was enacted in 1970 to protect governmental units from a loss of funds on deposit with a failed banking institution in New Jersey.
  • 45.
    32 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) F. Cash and Cash Equivalents (continued) N.J.S.A. 17:9-42 requires governmental units to deposit public funds only in public depositories located in New Jersey, when the funds are secured in accordance with the act. HUD requires housing authorities to invest excess funds in obligations of the United States, Certificates of Deposit or any other federally insured investment. HUD also requires that deposits be fully collateralized at all times. Acceptable collateralization includes FDIC insurance and the market value of securities purchased and pledged to the political subdivision. Pursuant to HUD restrictions, obligations of the United States are allowed as security for deposits. Obligations furnished as security must be held by the Authority or with an unaffiliated bank or trust company for the account of the Authority. For the statement of cash flows, cash and cash equivalents include all cash balances and highly liquid investments with a maturity of three months or less at time of purchase. It is the Authority's policy to maintain collateralization in accordance with state and HUD requirements. G. Accounts Receivable Rents are due from tenants on the first day of each month. As a result, tenants' accounts receivable balances primarily consist of rents past due and vacated tenants. Also included in accounts receivable are those amounts that tenants owe the Authority as payment for committing fraud or misrepresentation. These charges usually consist of retroactive rent and other amounts that may be determined by a formal written agreement or by a court order. An allowance for doubtful accounts is established to provide for all accounts, which may not be collected in the future for any reason. The Authority recognizes a receivable from HUD and other governmental agencies for amounts billed but not received and for amounts unbilled, but earned as of year-end. H. Prepaid Expenses Prepaid expenses represent amounts paid as of year-end that will benefit future operations. I. Inventory Inventories are valued at cost using the First in First out (FIFO) method. If inventory falls below cost due to damage, deterioration, or obsolescence, the Authority establishes an allowance for obsolete inventory. The Authority uses the consumption method for expense recognition and relies upon its periodic (annual) inventory for financial reporting purposes.
  • 46.
    33 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) J. Capital Assets Capital assets are stated at cost. Expenditures for repairs and maintenance are charged directly to expense as they are incurred. Expenditures determined to represent additions or betterments are capitalized. Depreciation is calculated using the straight-line method based on the estimated useful lives of the following asset groups: • Buildings 27.5 - 40 Years • Furniture and Equipment 3 - 7 Years The Authority has established a capitalization threshold of $5,000. K. Compensated Absences Compensated absences are those absences for which employees will be paid, such as vacation and sick leave computed in accordance with GASB Standards. A liability for compensated absences that is attributable to services already rendered and that are not contingent on a specific event that is outside the control of the Authority and its employees, is accrued as employees earn the rights to the benefits. Compensated absences that relate to future services or that are contingent on a specific event that is outside the control of the Authority and its employees are accounted for in the period in which such services are rendered or in which such events take place. L. Prepaid Tenant Rents Prepaid tenant rents consist of rent payments made by tenants that apply to future periods. M. Operating Revenues and Expenses The Authority defines its operating revenues as income derived from charges to residents and others for services provided as well as government subsidies and grants used for operating purposes. Operating expenses are costs incurred in the operation of its program activities to provide services to residents and others. The Authority classifies all other revenues as non-operating. N. Taxes The Authority is a unit of local government under New Jersey law and is exempt from real estate, sales and income taxes.
  • 47.
    34 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) O. Equity Classifications Equity is classified as net position and displayed in three components: Net investment in capital assets - Consists of capital assets including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, construction or improvement of those assets. Restricted net position - Consists of the net amount of assets with constraints placed on the use either by (1) external groups such as creditors, grantors, contributors, laws or regulations of other governments; or (2) law through constitutional provisions or enabling legislation. Unrestricted net position - All other net amount of assets that do not meet the definition of "restricted" or "net investment in capital assets." P. Economic Dependency The Section 8 and Low Rent Public Housing programs of the Authority are economically dependent on operating grants and subsidies from HUD. The programs operate at a loss prior to receiving grants and subsidies. Q. Budgets and Budgetary Accounting The Authority adopts annual, appropriated operating budgets for all its programs receiving federal expenditure awards. All budgets are prepared on a HUD basis, which differs with accounting principles generally accepted in the United States of America. All appropriations lapse at HUD's program year end or at the end of grant periods. The Authority also submits its annual entity-wide operating and capital budget to the State of New Jersey Department of Consumer Affairs in accordance with New Jersey State Law. NOTE 2. CASH AND CASH EQUIVALENTS At March 31, 2015 and 2014, the Authority had funds on deposit in checking accounts. All bank deposits as of the balance sheet date are entirely insured or collateralized by a collateral pool maintained by public depositories as required by New Jersey law. For the fiscal year ended March 31, 2015 and 2014, the carrying amount of the Authority's cash (including restricted cash) were $5,009,858 and $6,493,250, respectively. The bank balances were $6,910,146 and $6,979,424, respectively.
  • 48.
    35 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 2. CASH AND CASH EQUIVALENTS (continued) Cash and cash equivalents consist of the following: Cash Category 2015 2014 Unrestricted $ 2,538,863 $ 4,054,279 Tenant security deposits 378,678 375,210 Restricted 2,092,317 2,063,761 $ 5,009,858 $ 6,493,250 Of the bank balances, $1,600,000 and $1,735,694 were covered by federal depository insurance and the remaining $5,310,146 and $5,243,730 were collateralized with the pledging financial institutions for the fiscal years ended March 31, 2015 and 2014. Depository Account 2015 2014 Insured: FDIC $ 1,600,000 $ 1,735,694 Collateralized: GUDPA 5,310,146 5,243,730 $ 6,910,146 $ 6,979,424 Custodial credit risk is the risk that, in the event of a bank failure, the government's deposits may not be returned to it. The Authority does not have a formal policy for custodial credit risk. As of March 31, 2015 and 2014, the Authority's bank balances were not exposed to custodial credit risk. NOTE 3. ACCOUNTS RECEIVABLE, NET Accounts receivable, net consists of the following at March 31, 2015 and 2014: Description 2015 2014 Accounts receivable - HUD $ 993,704 $ 159,405 Accounts receivable - tenants, net 389,126 273,938 Accounts receivable - other government - 30,088 Accounts receivable - miscellaneous - 202,290 Total accounts receivable, net $ 1,382,830 $ 665,721
  • 49.
    36 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 3. ACCOUNTS RECEIVABLE, NET (continued) Accounts receivable - HUD Accounts receivable - HUD represents amounts due to the Authority for amounts expended under grant agreements that have not yet been reimbursed. At March 31, 2015 and 2014, Accounts receivable - HUD consisted of reimbursable expenses within the following grants: Program 2015 2014 Section 8 Moderate Rehabilitation Single Room Occupancy $ 270,798 $ 159,405 Housing Choice Voucher Program 722,906 - $ 993,704 $ 159,405 Accounts receivable - tenants Accounts receivable - tenants represents amounts due for tenant rents and at March 31, 2015 and 2014 are shown net of an allowance for doubtful accounts of $120,542 and $107,962, respectively. Accounts receivable - other government Accounts receivable - other government consists of amounts that are due from an Affordable Housing Trust Fund Grant that was awarded by the City of Jersey City. At March 31, 2015, the amounts owed to the Authority for these fees were collected. Accounts receivable - misc. Accounts receivable - misc. consists of amounts owed to the COCC from the County of Hudson and Hope VI fees owed from tax credit properties. As of March 31, 2015, the amounts were collected. NOTE 4. INVENTORY Inventory consists of materials and supplies and fuel which is valued at its lower of cost or market using the first-in first-out method.
  • 50.
    37 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 5. NOTES RECEIVABLE The Authority has utilized Hope VI and other development funds in accordance with HUD guidelines to assist the construction of numerous public housing developments through the issuance of mortgage loans. Outstanding notes receivable as of March 31, 2015 and 2014 consisted of the following: 2015 2014 The Authority issued a second mortgage loan receivable from A. Harry Moore Phase I Associates, LLC in the original amount of $2,961,966. Interest accrues at 6% annually whereby principal and interest are due in 40 years (2046). The mortgage is secured by the rental property. Amounts owed under the mortgage at March 31, 2015 and 2014 include $1,258,698 and $1,019,792 of accrued interest, respectively. $ 4,220,664 $ 3,981,758 The Authority issued 3rd, 4th and 5th mortgage loans to A. Harry Moore Phase II Associates, L.L.C in the original amount of $4,359,202. The 3rd and 4th mortgage loans accrue interest at 6.25% annually. The 5th mortgage loan is interest free. Principal and interest on the mortgages are due in forty years (2046 - 2048) The mortgages are secured by the rental property. Amounts owed under the mortgages at March 31, 2015 and 2014 includes $1,874,919 and $1,457,912 of accrued interest, respectively. 6,144,121 5,817,114 The Authority has a second mortgage loan receivable from Lafayette Family Phase III Urban Renewal Associates, L.P. in the original amount of $6,603,606. Interest accrues at 4.387% annually whereby amounts are paid from project cash flow. Principal and interest are due on December 31, 2049. The mortgage is secured by the rental property. Amounts owed under the mortgage at March 31, 2015 and 2014 include $1,777,915 and $1,478,009 of accrued interest, respectively. 8,381,521 8,081,615 The Authority issued a loan to Lafayette Community Limited Partnership in the original amount of $10,146,093. The loan accrues interest at 7% annually and is payable out of available cash flow. The loan bore interest at an annual rate of 7% until September 1, 2002 and thereafter bears no interest. The loan matures on September 6, 2057 and is secured by the rental property. 10,284,828 10,309,285
  • 51.
    38 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 5 NOTES RECEIVABLE (continued) 2015 2014 The Authority issued a second mortgage loan receivable from Lafayette Family Phase II Urban Renewal Associates, L.P. in the original amount of $5,001,149 Interest accrues at 4.83% annually whereby amounts are paid from project cash flow. Principal and interest are due in April, 2047. The mortgage is secured by the rental property. Amounts owed under the mortgage at March 31, 2015 and 2014 includes $2,748,078 and $2,391,035 of accrued interest, respectively. 7,749,227 7,392,184 The Authority issued 2nd, 3rd, 4th and 5th mortgage loans to Dwight Street Urban Renewal Associates, L.P. in the original amount of $4,162,337 The 2nd and 3rd mortgage loans accrue interest at 4.5% per annum and are due in February, 2049. The 4th and 5th mortgage loans are non-interest bearing and are due in July, 2050. The mortgages are secured by rental property. Amounts owed under the mortgages at March 31, 2015 and 2014 include $945,753 and $761,676 of accrued interest, respectively. 5,108,090 4,924,013 The Authority issued 3rd, 4th, 5th and 6th mortgage loans to Lafayette Senior Living Center, L.P. in the original amount of $1,409,681. The 4th and 5th mortgage loans accrue interest at 4.68% annually. The 3rd and 6th mortgage loans are interest free. Principal and interest on the mortgages are due on May 30, 2048. The mortgages are secured by the rental property. Amounts owed under the mortgages at March 31, 2015 and 2014 include $162,947 and $143,107 of accrued interest, respectively. 1,572,628 1,552,788 The Authority issued three loans to Lafayette Family Urban Renewal Associates, L.P. in the original amount of $6,099,341. The loan accrues interest at rates of 0%, 1% and 5.02% annually and is payable out of available cash flow. The loans matures at various periods between 2047 and 2052 and is secured by the rental property. Amounts owed under the mortgages at March 31, 2015 and 2014 include $2,884,396 and $2,489,108 of accrued interest, respectively. 8,983,737 8,588,449 The Authority has a mortgage loan receivable in the amount of $3,500,000 from AHM Housing Urban Renewal Associates, LLC. Interest accrues at 5.715%, however it is capped at $200,000. Principal and interest are due on October 28, 2060. The mortgage is secured by the underlying property. Amounts owed under the mortgage at March 31, 2015 and 2014 include $- and $200,000 of accrued interest, respectively. 3,500,000 3,500,000
  • 52.
    39 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 5 NOTES RECEIVABLE (continued) 2015 2014 The Authority made a $400,000 HOME loan to AHM Housing Urban Renewal Associates LLC. The loan bears no interest and payments are only due from available cash flow. The outstanding loan matures on October 28, 2060. 400,000 400,000 HOPE VI mortgage loan receivable from Glennview Townhouses Urban Renewal Associates, LP. in the original amount of $5,000,000. The loan bears interest at 4.5%, compounded annually and matures January 1, 2051. Amounts owed under the mortgage at March 31, 2015 and 2014 include $929,327 and $718,279 of accrued interest, respectively. 5,929,327 5,718,279 Total notes receivable $ 62,274,143 $ 60,265,485 The current portion on notes receivable is expected to be $-0-. NOTE 6. RESTRICTED CASH Restricted cash consists of the following at March 31, 2015 and 2014: Cash Category 2015 2014 State Leveraging Fund $ 458,816 $ 457,852 Section 8 HAP Equity - 551 Family Self Sufficiency ("FSS") Program escrows 286,443 282,789 Dwight Street Home Ownership 591,540 627,739 Bergen Avenue project reserves 428,776 392,718 Arlington Gardens project reserves 326,742 302,112 $ 2,092,317 $ 2,063,761 State leveraging funds are held in trust at Wells Fargo bank as a reserve for debt service . Housing assistance payment reserves are restricted for use only in the Housing Choice Voucher Program for future housing assistance payments. FSS program escrows are restricted for use by FSS program participants within the Housing Choice Voucher Program. Dwight Street Home Ownership funds are restricted for the purpose of the development of the Dwight Street master plan.
  • 53.
    40 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 6. RESTRICTED CASH (continued) Bergen Avenue project reserves are controlled by the New Jersey Housing Mortgage Finance Agency for certain capital and other project expenditures within 254 Bergen Avenue. Arlington Gardens project reserves are held in a separate bank account for certain capital and other project expenditures. NOTE 7. CAPITAL ASSETS, NET Capital assets consist primarily of expenditures to acquire, construct, place in operation and improve the facilities of the Authority and are stated at cost, less accumulated depreciation. The following is a summary of the changes in capital assets for the fiscal year ended March 31, 2015 and 2014: Balances at March 31, 2014 Additions Dispositions Transfers Balances at March 31, 2015 Non-depreciable capital assets: Land $ 5,265,611$ - $ - $ - $ 5,265,611 Construction in progress 7,341,820 2,842,232 - - 10,184,052 Total 12,607,431 2,842,232 - - 15,449,663 Depreciable capital assets: Buildings 195,468,595 - - - 195,468,595 Dwelling equipment 907,245 - - - 907,245 Site improvements 62,475 - - - 62,475 Total 196,438,315 - - - 196,438,315 Total capital assets 209,045,746 2,842,232 - - 211,887,978 Accumulated depreciation (111,351,937) (7,128,508) - - (118,480,445) Net capital assets $ 97,693,809$ (4,286,276)$ - $ - $ 93,407,533 Balances at March 31, 2013 Additions Disposition Transfers Balances at March 31, 2014 Non-depreciable capital assets: Land $ 5,265,611$ - $ - $ - $ 5,265,611 Construction in progress 16,817,314 2,648,599 (113,511) (12,010,582) 7,341,820 Total 22,082,925 2,648,599 (113,511) (12,010,582) 12,607,431 Depreciable capital assets: Buildings 183,458,013 - - 12,010,582 195,468,595 Dwelling equipment 907,245 - - - 907,245 Site improvements 62,475 - - - 62,475 Total 184,427,733 - - 12,010,582 196,438,315 Total capital assets 206,510,658 2,648,599 (113,511) - 209,045,746 Accumulated depreciation (104,539,904) (6,812,033) - - (111,351,937) Net capital assets $ 101,970,754$ (4,163,434)$ (113,511)$ - $ 97,693,809 Depreciation expense for the fiscal year ended March 31, 2015 and 2014 amounted to $7,128,508 and $6,812,033, respectively.
  • 54.
    41 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 8. ACCOUNTS PAYABLE As of March 31, 2015 and 2014, the Authority has a total accounts payable balance of $300,464 and $1,123,534, respectively, which consisted of the following: 2015 2014 Accounts payable - operations $ 297,096 $ 587,593 Accounts payable - HUD 3,368 35,329 Accounts payable - other governments - 500,612 $ 300,464 $ 1,123,534 NOTE 9. NON-CURRENT LIABILITIES BONDS AND LOANS 2015 2014 During 2007, the Authority entered into a Capital Fund leveraging pool. The New Jersey Housing and Mortgage Finance Agency ("NJHMFA") issued tax exempt, twenty year Capital Fund Program Revenue Bonds totaling $18,585,000. The Authority's share of funds from the bond issue pool amounted to $10,000,000. Interest accrues at rates between 4% and 5% and is payable semi-annually on May 1st and November 1st. Repayment of the funds shall be paid solely from Capital Fund allocations received by the Authority from the Department of Housing and Urban Development. $ 7,570,000 $ 7,980,000 Mortgage Loan payable to NJHMFA in connection with the development of 254 Bergen Ave. The loan with the original amount of $1,077,250 carries an annual interest rate of 7.75%, requires monthly principal and interest payments of $7,787, matures in September, 2022 and is secured by a first mortgage on the rental property. 516,391 565,973 Mortgage loan payable to the Department of Community Affairs of the State of New Jersey as part of the Balanced Housing Program in the original amount of $1,073,315. The loan is interest free, matures in September, 2022 and is secured by a second mortgage on the property at 254 Bergen Avenue. 1,073,315 1,073,315 Mortgage loan payable to the Department of Community Affairs of the State of New Jersey from the Petroleum Overcharge Reimbursement Fund in the original amount of $283,860. The loan is interest free, matures in September, 2022 and is secured by a third mortgage on the property at 254 Bergen Avenue. 283,860 283,860
  • 55.
    42 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 9. NON-CURRENT LIABILITIES (continued) BONDS AND LOANS (continued) 2015 2014 Loan payable to the Community Preservation Corporation dated December 29, 2005 in the original amount of $1,750,000 for the acquisition of the Arlington Gardens property. Principal and interest payments are due monthly in the amount of $9,332 including interest at 4.87%. The loan matures in March, 2036 and is secured by the property located at 301-305 Randolph Ave. 1,479,040 1,519,279 Total bonds and loans payable 10,922,606 11,422,427 Less: current portion 520,623 499,815 Bonds and loans payable, excluding current portion $ 10,401,983 $ 10,922,612 CAPITAL LEASE 2015 2014 The Authority entered into a lease purchase agreement on November 23, 2010 for energy savings equipment expiring in November, 2025. The assets recorded under the capital lease totaled $8,500,000, and are included in capital assets on the Statements of Net Position. Under terms of the lease, interest accrued at 5.32% from lease inception through May, 2012 at which time payments of $69,950 including interest at 2.95 will be made through termination. The assets are depreciated over the shorter of the lease term or the estimated useful life. Depreciation expense of the assets under the capital lease are included in operating expenses. $ 7,466,415 $ 8,227,317 Less: current portion 622,892 604,807 Capital lease, excluding current portion $ 6,843,523 $ 7,622,510 Annual debt service for principal and interest over the next five years and in five-year increments thereafter are as follows: Year Principal Interest Total 2016 1,143,515 684,675 1,828,190 2017 1,186,772 643,039 1,829,811 2018 1,232,534 597,824 1,830,358 2019 1,284,319 548,791 1,833,110 2020 1,337,177 495,809 1,832,986 2021-2025 8,480,207 1,610,485 10,090,692 2026-2030 3,148,357 360,621 3,508,978 2031-2035 475,886 84,035 559,921 2036 100,254 2,412 102,666 $ 18,389,021 $ 5,027,691 $ 23,416,712
  • 56.
    43 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 9. NON-CURRENT LIABILITIES (continued) COMPENSATED ABSENCES Accrued compensated absences represents the amount of accumulated leave for which employees are entitled to receive payment in accordance with the Authority's Personnel Policy. OTHER LIABILITIES Description 2015 2014 FSS Escrows $ 286,443 $ 282,789 Construction contract retention 28,535 17,301 Homeownership escrow accounts 591,540 627,739 Utility accruals 387,537 1,856,991 Total 1,294,055 2,784,820 Due within one year 416,072 1,874,292 Non-current portion $ 877,983 $ 910,528 Long-term debt activity for the years ended March 31,2015 and 2014 consisted of the following: Description March 31, 2014 Increases Decreases March 31, 2015 Amounts due within one year Bonds and loans $ 11,422,427 $ - $ (499,821) $ 10,922,606 $ 520,623 Capital lease 8,227,317 - (760,902) 7,466,415 622,892 Compensated absences 2,266,613 1,118,572 (1,736,769) 1,648,416 164,842 Other liabilities 2,784,820 751,263 (2,242,028) 1,294,055 416,072 $ 24,701,177 $ 1,869,835 $ (5,239,520) $ 21,331,492 $ 1,724,429 Description March 31, 2013 Increases Decreases March 31, 2014 Amounts due within one year Bonds and loans $ 11,896,800 $ - $ (474,373) $ 11,422,427 $ 499,815 Capital lease 8,302,276 - (74,959) 8,227,317 604,807 Compensated absences 2,657,353 1,174,501 (1,565,241) 2,266,613 226,664 Other liabilities 1,590,763 2,951,659 (1,757,602) 2,784,820 1,874,292 $ 24,447,192 $ 4,126,160 $ (3,872,175) $ 24,701,177 $ 3,205,578
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    44 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 10. PENSION PLAN A. Description of Plans All required employees of the Authority are covered by the Public Employees' Retirement System which has been established by state statute and is administered by the New Jersey Division of Pension and Benefits ("Division"). According to the State of New Jersey Administrative Code, all obligations of the System will be assumed by the State of New Jersey should the System terminate. The Division issues a publicly available financial report that includes the financial statements and required supplementary information for the Public Employees Retirement System. This report may be obtained by writing to the Division of Pensions and Benefits, PO Box 295, Trenton, New Jersey, 08625. B. Public Employees' Retirement System (PERS) The Public Employees' Retirement System ("PERS") was established as of January 1, 1955 under the provisions of N.J.S.A. 43:15A to provide retirement, death, disability and medical benefits to certain qualified members. The Public Employees' Retirement System is a cost-sharing multiple-employer plan. Membership is mandatory for substantially all full-time employees of the State of New Jersey or any county, municipality, school district, or public agency, provided the employee is not required to be a member of another state-administered retirement system or other state or local jurisdiction. Medical benefits are now provided by the State Health Benefits Program. C. Vesting and Benefit Provisions The vesting and benefit provisions for PERS are set by N.J.S.A. 43:15A and 43:3B. All benefits vest after ten years of service, except for medical benefits that vest after 25 years of service. Retirement benefits for age and service are available at age 60 and are generally determined to be 1/55 of the final average salary for each year of service credit, as defined. Final average salary equals the average salary for the final three years of service prior to retirement (or highest three years' compensation if other than the final three years). Members may seek early retirement after achieving 25 years of service credit or they may elect deferred retirement after achieving eight to ten years of service in which case benefits would begin the first day of the month after the member attains normal retirement age. Members are always fully vested for their own contributions and, after three years of service credit, become vested for interest earned on the contributions. In the case of death before retirement, members' beneficiaries are entitled to full interest credited to the members' accounts.
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    45 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 10. PENSION PLAN (continued) D. Contribution Requirements – PERS The contribution policy is set by N.J.S.A. 43:15A and requires contributions by active members and contributing employers. Plan member and employer contributions may be amended by State of New Jersey legislation. Members contribute at a uniform rate. The full normal employee contribution rate became 5.5% of annual compensation, effective July 1, 2007 for most PERS state employees and effective July 1, 2008 for PERS local employees, based on Chapter 103, P.L. 2007. Pursuant to the provisions of Chapter 78, P.L. 2011, the active member contribution rate increased from 5.5% of annual compensation to 6.5% plus an additional 1% phased-in over 7 years beginning in the first year. For fiscal year 2012, the member contribution rate increased in October 2011. The phase-in of the additional incremental member contribution rate will take place in July of each subsequent fiscal year. Employers’ contribution amounts are based on an actuarially determined rate. The annual employer contributions include funding for basic retirement allowances, cost-of-living adjustments, and non-contributory death benefits. Chapter 19, P.L. 2009, effective March 17, 2009, provided an option for local employers to contribute 50% of the normal and accrued liability contribution amounts certified by PERS for payment due in State fiscal year 2009. This law also provided that a local employer may pay 100% of the required contribution. Such an employer will be credited with the full payment and any such amounts will not be included in their unfunded liability. The actuaries for PERS will determine the unfunded liability of those retirement systems, by employer, for the reduced normal and accrued liability contributions provided under this law. This unfunded liability will be paid by the employer in level annual payments over a period of 15 years beginning with the payments due in the State fiscal year ending June 30, 2012 and will be adjusted by the rate of return on the actuarial value of assets. Three Year Trend Information for PERS Year Funding Annual Pension Cost (APC) Percentage of APC Contributed Net Pension Obligation March 31, 2015 $ 1,123,862 100 $ - March 31, 2014 $ 1,103,948 100 $ - March 31, 2013 $ 1,170,858 100 $ - NOTE 11. POST-RETIREMENT BENEFITS The Authority participates in the New Jersey State Health Benefits Program ("the SHBP"), which qualifies as a cost-sharing, multiple-employer plan in accordance with GASB Statement 45 "Accounting and Financial Reporting by Employers for Post-employment Benefits Other Than Pensions" ("OPEB"). The SHBP is administered by the State of New Jersey, Department of Treasury, Division of Pension and Benefits.
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    46 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 11. POST-RETIREMENT BENEFITS (continued) Under the SHBP, retirees may continue the health benefits programs in which they are enrolled at the time of retirement, provided the retiree pays the costs of the benefits (at group rates) for themselves and their eligible dependents. A retiree may also receive Authority-paid health benefits in accordance with labor agreements if they have twenty-five (25) or more years enrolled in the pension system. Contribution Requirements – SHBP Contributions to pay for the health premiums of participating employees in the SHBP – Local are collected from the State of New Jersey, participating local employers, active members, and retired members. Local employer payments and active and retired member contributions are generally received on a monthly basis. Local group employees are not affected by the premium sharing provisions of Chapter 8, P.L. 1996. Chapter 2, P.L. 2010, effective May 21, 2010, requires a minimum contribution of 1.5% of base salary toward the cost of health care benefits coverage by all active public employees. Employees of the State, local governments, and boards of education who become a member of a State or locally-administered retirement system on or after the law’s effective date would be required to pay in retirement 1.5% of their pension benefit toward the cost of health care coverage under the SHBP. Chapter 78, P.L. 2011, effective June 28, 2011, established new employee contribution requirements towards the cost of employer provided health benefit coverage. Employees are required to contribute a certain percentage of the cost of coverage. The rate of contribution is determined based on the employee’s annual salary and the selected level of coverage. The increased employee contributions will be phased in over a 4-year period for those employed prior to Chapter 78’s effective date with a minimum contribution required to be at least 1.5% of salary. For those employed on or after June 28, 2011, the 4-year phase-in does not apply and contributions based on the full percentage rate of contribution are required. Under Chapter 78, certain future retirees eligible for employer-paid health care coverage at retirement will also be required to pay a percentage of the cost of their medical coverage determined on the basis of their annual retirement benefit. The State of New Jersey, Department of the Treasury, Division of Pensions and Benefits, issues publicly available financial reports that include the financial statements and required supplementary information of the SHBP. The financial reports may be obtained by writing to the State of New Jersey, Department of the Treasury, Division of Pensions and Benefits, P.O. Box 295, Trenton, New Jersey 08625-0295.
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    47 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 11. POST-RETIREMENT BENEFITS (continued) Contribution Requirements – SHBP (continued) The SHBP is established under the authority of N.J.S.A. 52:14-17.25 et seq. and regulations adopted by the State Health Benefits Commission. The required contribution rate is determined on an annual pay as you go basis. The following were the required contributions to the SHBP: Year Amount 2015 $ 4,162,931 2014 $ 4,023,924 2013 $ 3,967,443 NOTE 12. RESTRICTED NET POSITION Restricted net position consists of the following at March 31, 2015 and 2014: Description 2015 2014 HOPE VI and development loan reserves $ 62,274,143 $ 60,265,485 Housing assistance payments reserve - HAP equity - 551 $ 62,274,143 $ 60,266,036 Hope VI and development loan reserves and the related accrued interest are restricted for public housing development upon collection of the loan and related accrued interest. Accumulating earnings in connection with the overpayment of housing assistance payments are restricted for rent payments to landlords as part of the Housing Choice Voucher program and the Veterans Affairs Supportive Housing program. NOTE 13. HUD REPAYMENT AGREEMENT In 2013, the Authority entered into an agreement with HUD which requires the Low Rent Housing Program to repay advances from the Housing Choice Voucher Program over a ten (10) year period. The original repayment amount totaled $1,487,094. As of March 31, 2015 and 2014, $- and $126,982, respectively was owed under this agreement. In accordance with GASB 34, these inter-program loans have been eliminated for financial statement presentation. NOTE 14. RISK MANAGEMENT The Authority is exposed to various risks of loss related to torts, theft, damage, and destruction of assets; errors and omissions; and natural disasters. The Authority maintains insurance policies acquired from independent insurance covering all structural property, automobiles, crime coverage, personal property and general liability. Settlement amounts have not exceeded insurance coverage for the last three years.
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    48 JERSEY CITY HOUSINGAUTHORITY NOTES TO FINANCIAL STATEMENTS (continued) FOR THE YEARS ENDED MARCH 31, 2015 AND 2014 NOTE 15. CONTINGENCIES The Authority receives financial assistance from HUD in the form of grants and subsidies. Entitlement to the funds is generally conditional upon compliance with terms and conditions of the grant agreements and applicable regulations, including the expenditure of the funds for eligible purposes. Substantially all grants, entitlements and cost reimbursements are subject to financial and compliance audits by HUD. As a result of these audits, costs previously reimbursed could be disallowed and require payments to HUD. As of March 31, 2015 and 2014, the Authority estimates that no material liabilities will result from such audits. NOTE 16. SUBSEQUENT EVENTS Events that occur after the financial statement date but before the financial statements were available to be issued must be evaluated for recognition or disclosure. The effects of subsequent events that provide evidence about conditions that existed at the financial statement date are recognized in the accompanying financial statements. Subsequent events which provide evidence about conditions that existed after the financial statement date require disclosure in the accompanying notes to the financial statements. Management evaluated the activity of the Authority through October 31, 2015 (the date the financial statements were available to be issued) and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.
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    252 Washington Street732-503-4257 Main Suite B 732-341-1424 Fax Toms River, NJ 08753 www.falloncpa.com 49 INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Board of Commissioners Jersey City Housing Authority: We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the Jersey City Housing Authority, as of and for the year ended March 31, 2015, and the related notes to the financial statements, which collectively comprise Jersey City Housing Authority's basic financial statements, and have issued our report thereon dated October 31, 2015. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the Jersey City Housing Authority's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Jersey City Housing Authority's internal control. Accordingly, we do not express an opinion on the effectiveness of Jersey City Housing Authority's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
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    50 INDEPENDENT AUDITOR'S REPORTON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS (continued) Compliance and Other Matters As part of obtaining reasonable assurance about whether Jersey City Housing Authority's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. October 31, 2015 Toms River, New Jersey
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    252 Washington Street732-503-4257 Main Suite B 732-341-1424 Fax Toms River, NJ 08753 www.falloncpa.com 51 INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 AND STATE OF NEW JERSEY OMB CIRCULAR 04-04 Board of Commissioners Jersey City Housing Authority: Report on Compliance for Each Major Federal Program We have audited the Jersey City Housing Authority's compliance with the types of compliance requirements described in the OMB Circular A-133 Compliance Supplement and the State of New Jersey OMB Circular 04-04 that could have a direct and material effect on each of Jersey City Housing Authority's major federal programs for the year ended March 31, 2015. Jersey City Housing Authority's major federal programs are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs. Management’s Responsibility Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its federal programs. Auditor’s Responsibility Our responsibility is to express an opinion on compliance for each of Jersey City Housing Authority's major federal programs based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations and the State of New Jersey OMB Circular 04-04. Those standards, OMB Circular A-133 and the State of New Jersey OMB Circular 04-04 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about Jersey City Housing Authority's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program. However, our audit does not provide a legal determination of Jersey City Housing Authority's compliance.
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    52 INDEPENDENT AUDITOR'S REPORTON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 AND STATE OF NEW JERSEY OMB CIRCULAR 04-04 (continued) Opinion on Each Major Federal Program In our opinion, the Jersey City Housing Authority complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended March 31, 2015. Report on Internal Control Over Compliance Management of Jersey City Housing Authority is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered Jersey City Housing Authority's internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and to test and report on internal control over compliance in accordance with OMB Circular A-133, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of Jersey City Housing Authority's internal control over compliance. A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of OMB Circular A-133. Accordingly, this report is not suitable for any other purpose. October 31, 2015 Toms River, New Jersey
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  • 67.
    53 JERSEY CITY HOUSINGAUTHORITY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED MARCH 31, 2015 Federal Grantor/Program Title Federal CFDA Number State Pass-throug h Number Grant Period From / To Grant Award Fiscal Year Cash Receipts Fiscal Year Expenditures Cumulative - Expenditures U.S. Department of Housing and Urban Dev. Low Rent Public Housing: NJ009-00000214D 14.850 N/A 1/1/14 12/31/14 $ 1,406,391 $ 1,052,715 $ 1,052,715 $ 1,406,391 NJ009-00000215D 14.850 N/A 1/1/15 12/31/15 1,820,022 393,144 393,144 393,144 NJ009-00000314D 14.850 N/A 1/1/14 12/31/14 1,647,602 1,306,539 1,306,539 1,647,602 NJ009-00000315D 14.850 N/A 1/1/15 12/31/15 1,794,295 377,897 377,897 377,897 NJ009-00000414D 14.850 N/A 1/1/14 12/31/14 750,709 594,831 594,831 750,709 NJ009-00000415D 14.850 N/A 1/1/15 12/31/15 905,728 185,587 185,587 185,587 NJ009-00000514D 14.850 N/A 1/1/14 12/31/14 884,516 695,258 695,258 884,516 NJ009-00000515D 14.850 N/A 1/1/15 12/31/15 1,007,271 210,965 210,965 210,965 NJ009-00000614D 14.850 N/A 1/1/14 12/31/14 2,320,468 1,755,665 1,755,665 2,320,468 NJ009-00000615D 14.850 N/A 1/1/15 12/31/15 1,396,725 340,091 340,091 340,091 NJ009-00000814D 14.850 N/A 1/1/14 12/31/14 875,347 655,217 655,217 875,347 NJ009-00000815D 14.850 N/A 1/1/15 12/31/15 1,606,085 264,160 264,160 264,160 NJ009-00000914D 14.850 N/A 1/1/14 12/31/14 1,008,111 759,605 759,605 1,008,111 NJ009-00000915D 14.850 N/A 1/1/15 12/31/15 1,322,541 271,701 271,701 271,701 NJ009-000001014D 14.850 N/A 1/1/14 12/31/14 8,322 6,229 6,229 8,322 NJ009-000001015D 14.850 N/A 1/1/15 12/31/15 648 648 648 648 NJ009-000001214D 14.850 N/A 1/1/14 12/31/14 250,810 187,737 187,737 250,810 NJ009-000001215D 14.850 N/A 1/1/15 12/31/15 272,820 68,085 68,085 68,085 NJ009-000001314D 14.850 N/A 1/1/14 12/31/14 469,069 351,109 351,109 469,069 NJ009-000001315D 14.850 N/A 1/1/15 12/31/15 489,514 122,163 122,163 122,163 NJ009-000001414D 14.850 N/A 1/1/14 12/31/14 211,740 158,492 158,492 211,740 NJ009-000001415D 14.850 N/A 1/1/15 12/31/15 257,385 64,233 64,233 64,233 NJ009-000001514D 14.850 N/A 1/1/14 12/31/14 229,831 172,034 172,034 229,831 NJ009-000001515D 14.850 N/A 1/1/15 12/31/15 252,931 63,121 63,121 63,121 NJ009-000001614D 14.850 N/A 1/1/14 12/31/14 139,100 104,119 104,119 139,100 NJ009-000001615D 14.850 N/A 1/1/15 12/31/15 147,451 35,352 35,352 35,352 NJ009-000001714D 14.850 N/A 1/1/14 12/31/14 221,578 165,856 165,856 221,578 NJ009-000001715D 14.850 N/A 1/1/15 12/31/15 230,043 57,409 57,409 57,409
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    54 JERSEY CITY HOUSINGAUTHORITY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 Federal Grantor/Program Title Federal CFDA Number State Pass-throug h Number Grant Period From / To Grant Award Fiscal Year Cash Receipts Fiscal Year Expenditures Cumulative - Expenditures Low Rent Public Housing: NJ009-000001814D 14.850 N/A 1/1/14 12/31/14 176,121 131,831 131,831 176,121 NJ009-000001815D 14.850 N/A 1/1/15 12/31/15 209,879 52,377 52,377 52,377 NJ009-000001914D 14.850 N/A 1/1/14 12/31/14 263,067 196,911 196,911 263,067 NJ009-000001915D 14.850 N/A 1/1/15 12/31/15 260,297 64,959 64,959 64,959 NJ009-000002014D 14.850 N/A 1/1/14 12/31/14 251,099 187,953 187,953 251,099 NJ009-000002015D 14.850 N/A 1/1/15 12/31/15 241,314 60,222 60,222 60,222 NJ009-000002114D 14.850 N/A 1/1/14 12/31/14 171,511 128,380 128,380 171,511 NJ009-000002115D 14.850 N/A 1/1/15 12/31/15 220,691 55,075 55,075 55,075 NJ009-000002214D 14.850 N/A 1/1/14 12/31/14 87,205 65,275 65,275 87,205 NJ009-000002215D 14.850 N/A 1/1/15 12/31/15 82,527 15,287 15,287 15,287 Grant Subtotal 23,890,764 11,378,232 11,378,232 11,616,885 Section 8 Housing Choice Voucher Program: NJ009-2FPH-2015 14.871 N/A 4/1/14 3/31/15 37,280,858 36,557,952 37,616,063 37,616,063 Lower Income HAP Section 8 Mod Rehab: NJ009SRO0001 14.856 N/A 4/1/14 3/31/15 822,801 711,408 822,801 822,801 Public Housing Capital Fund Program: NJ39P009501-09 14.872 N/A 9/15/09 9/14/14 5,419,853 278,549 278,549 5,419,853 NJ39P009501-10 14.872 N/A 7/15/10 7/14/14 5,599,087 9,502 9,502 5,599,087 NJ39P009501-11 14.872 N/A 8/3/11 8/2/15 4,791,622 1,138,340 1,138,340 4,767,408 NJ39P009501-11C 14.872 N/A 8/3/11 8/2/16 998,640 1,052 1,052 10,524 NJ39P009501-12 14.872 N/A 3/12/12 3/11/16 3,872,643 959,279 959,279 2,992,052 NJ39P009501-13 14.872 N/A 9/9/13 9/8/15 3,728,805 1,243,461 1,243,461 2,140,631 NJ39P009501-13E 14.872 N/A 9/9/12 9/8/17 250,000 164,000 164,000 164,000 NJ39P009501-14 14.872 N/A 5/13/14 5/12/18 3,821,981 1,119,040 1,119,040 1,119,040 CFP Subtotal 28,482,631 4,913,223 4,913,223 22,212,595
  • 69.
    55 JERSEY CITY HOUSINGAUTHORITY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 Federal Grantor/Program Title Federal CFDA Number State Pass-throug h Number Grant Period From / To Grant Award Fiscal Year Cash Receipts Fiscal Year Expenditures Cumulative - Expenditures Public Housing Capital Fund Program: NJ39R009502-09 14.872 N/A 9/15/09 10/29/15 705,334 3,273 3,273 73,806 NJ39R009501-10 14.872 N/A 9/15/09 10/29/15 510,799 - - 51,079 NJ39R009502-10 14.872 N/A 7/15/10 10/29/15 701,776 - - 70,177 NJ39R009501-11 14.872 N/A 8/3/11 8/2/15 115,752 - - 11,575 NJ39R009502-11 14.872 N/A 8/3/11 10/29/15 424,259 - - 42,426 NJ39R009501-12 14.872 N/A 3/12/12 10/29/18 747,574 - - 74,758 NJ39R009502-12 14.872 N/A 3/12/12 10/29/18 98,663 - - 9,866 RHF Subtotal 3,304,157 3,273 3,273 333,687 Grant Subtotal 31,786,788 4,916,496 4,916,496 22,546,282 Shelter Plus Care: NJ0226C2F060900 14.238 N/A 4/1/14 3/31/15 218,049 218,049 218,049 218,049 NJ0288C2F061000 14.238 N/A 4/1/14 3/31/15 113,325 113,325 113,325 113,325 NJ0227C2F060900 14.238 N/A 4/1/14 3/31/15 46,346 46,346 46,346 43,346 NJ0229C2F060900 14.238 N/A 4/1/14 3/31/15 111,685 111,685 111,685 111,685 Grant Subtotal 489,405 489,405 489,405 486,405 Revitalization of Distressed Public Housing: NJ39URD009I101 14.866 N/A 4/16/02 12/31/16 34,140,000 177,032 177,032 31,085,409 NJ39URD009I109 14.866 N/A 9/15/10 9/30/15 9,700,000 234,023 234,023 859,882 Grant Subtotal 43,840,000 411,055 411,055 31,945,291 Resident Opportunity and Support Services: NJ009RPS024A011 14.870 N/A 9/22/11 9/22/14 480,000 117,352 117,352 480,000 NJ009FSH432A014 14.870 N/A 9/29/14 1/1/16 290,987 72,747 72,747 72,747 Grant Subtotal 770,987 190,099 190,099 552,747
  • 70.
    56 JERSEY CITY HOUSINGAUTHORITY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 Federal Grantor/Program Title Federal CFDA Number State Pass-throug h Number Grant Period From / To Grant Award Fiscal Year Cash Receipts Fiscal Year Expenditures Cumulative - Expenditures Passed through City of Jersey City Community Development Block Grant 14.218 N/A 4/1/13 3/31/15 38,500 16,188 16,188 38,500 Total $138,920,103 $ 54,670,835 $ 55,840,339 $105,624,974
  • 71.
    57 JERSEY CITY HOUSINGAUTHORITY NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED MARCH 31, 2015 NOTE 1. BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Jersey City Housing Authority under programs of the federal government for the year ended March 31, 2015. The information in the schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments and Non-Profit Organizations. Because the schedule presents only a selected portion of the operations of the Jersey City Housing Authority, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Jersey City Housing Authority. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the principles contained in OMB Circular A-87, Cost Principles for State, Local and Indian Tribes, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. NOTE 3. SUBRECIPIENTS The Authority did not pass-through any federal awards to subrecipients. NOTE 4. NON-CASH FEDERAL ASSISTANCE The Authority did not receive any non-cash Federal assistance for the year ended March 31, 2015.
  • 72.
    58 JERSEY CITY HOUSINGAUTHORITY NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 NOTE 5. SCHEDULE OF CAPITAL FUND PROGRAM COSTS AND ADVANCES The total amount of Capital Fund Program Costs and Advances incurred and earned by the Jersey City Housing Authority as of and for the year ended March 31, 2015 are provided herein. 501-09 501-10 501-11 501-11C 501-12 501-13 501-13E 501-14 Totals Budget $ 5,419,853$ 5,599,087$ 4,791,622$ 998,640$ 3,872,643$ 3,728,805$ 250,000$ 3,821,981$ 28,482,631 Advances: Cumulative through 3/31/14 $ 5,141,304$ 5,589,585$ 3,629,068$ 9,472$ 2,032,773$ 897,170$ - $ - $ 17,299,372 Current Year 278,549 9,502 1,138,340 1,052 959,279 1,243,461 164,000 1,119,040 4,913,223 Cumulative through 3/31/15 5,419,853 5,599,087 4,767,408 10,524 2,992,052 2,140,631 164,000 1,119,040 22,212,595 Costs: Cumulative through 3/31/14 5,141,304 5,589,585 3,629,068 9,472 2,032,773 897,170 - - 17,299,372 Current Year 278,549 9,502 1,138,340 1,052 959,279 1,243,461 164,000 1,119,040 4,913,223 Cumulative through 3/31/15 5,419,853 5,599,087 4,767,408 10,524 2,992,052 2,140,631 164,000 1,119,040 22,212,595 Excess / (Deficiency) $ - $ - $ - $ - $ - $ - $ - $ - $ -
  • 73.
    59 JERSEY CITY HOUSINGAUTHORITY NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (continued) YEAR ENDED MARCH 31, 2015 NOTE 6. SCHEDULE OF REPLACEMENT HOUSING FACTOR PROGRAM COSTS AND ADVANCES The total amount of Replacement Housing Factor Program Costs and Advances incurred and earned by the Jersey City Housing Authority as of and for the year ended March 31, 2015 are provided herein. RHF 502-09 RHF 501-10 RHF 502-10 RHF 501-11 RHF 502-11 RHF 501-12 RHF 502-12 Totals Budget $ 705,334$ 510,799$ 701,766$ 115,752$ 424,259$ 747,574$ 98,663$ 3,304,147 Advances: Cumulative through 3/31/14 $ 70,533$ 51,079$ 70,177$ 11,575$ 42,426$ 74,758$ 9,866$ 330,414 Current Year 3,273 - - - - - - 3,273 Cumulative through 3/31/15 73,806 51,079 70,177 11,575 42,426 74,758 9,866 333,687 Costs: Cumulative through 3/31/14 70,533 51,079 70,177 11,575 42,426 74,758 9,866 330,414 Current Year 3,273 - - - - - - 3,273 Cumulative through 3/31/15 73,806 51,079 70,177 11,575 42,426 74,758 9,866 333,687 Excess / (Deficiency) $ - $ - $ - $ - $ - $ - $ - $ -
  • 74.
    60 JERSEY CITY HOUSINGAUTHORITY SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED MARCH 31, 2015 I. Summary of Auditor's Results Financial Statement Section 1. Type of auditor's report issued: Unmodified 2. Internal control over financial reporting a. Material Weakness(es) identified? No b. Were significant deficiencies identified not considered to be material weaknesses? No 3. Noncompliance material to the financial statements? No Federal Awards Section 1. Dollar threshold used to determine Type A Programs from from type B programs: $1,675,210 2. Auditee qualified as low-risk Auditee? Yes 3. Type of auditor's report on compliance for major programs: Unmodified 4. Internal Control over compliance: a. Material weakness(es) identified? No b. Were significant deficiencies not considered to be material weaknesses? No c. Any audit findings disclosed that are required to be reported in accordance with OMB Circular A-133 (section .510(a))? No 5. Identification of major programs: CFDA Number Name of Federal Program 14.871 Housing Choice Vouchers 14.872 Public Housing Capital Fund
  • 75.
    61 JERSEY CITY HOUSINGAUTHORITY SCHEDULE OF FINDINGS AND QUESTIONED COSTS (continued) FOR THE YEAR ENDED MARCH 31, 2015 II. Financial Statement Findings There were no findings relating to the financial statements which are required to be reported in accordance with government auditing standards. III. Federal Award Findings and Questioned Costs None. IV. Schedule of Prior Year Audit Findings None.
  • 76.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description PROJECT TOTAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSING SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES STATE/LOCAL Line Item # ASSETS: CURRENT ASSETS: Cash: 111 Cash - unrestricted 823,375$ 1,640,963$ -$ -$ -$ 56,817$ 112 Cash - restricted - modernization and development 458,816 - - - - - 113 Cash - other restricted 591,540 286,443 - - - 755,518 114 Cash - tenant security deposits 294,534 - - - - 84,144 115 Cash - restricted for payment of current liabilities - - - - - - 100 Total cash 2,168,265 1,927,406 - - - 896,479 Accounts and notes receivables: 121 Accounts receivable - PHA projects - - - - - - 122 Accounts receivable - HUD other projects - 722,906 - - - - 124 Accounts receivable - other government - - - - - - 125 Accounts receivable - miscellaneous - - - - - - 126 Accounts receivable- tenants 356,996 - - - - 152,672 126.1 Allowance for doubtful accounts - tenants (28,800) - - - - (91,742) 126.2 Allowance for doubtful accounts - other - - - - - - 127 Notes and mortgages receivable- current - - - - - - 128 Fraud recovery - - - - - - 128.1 Allowance for doubtful accounts - fraud - - - - - - 129 Accrued interest receivable - - - - - - 120 Total receivables, net of allowances for doubtful accounts 328,196 722,906 - - - 60,930 Current investments 131 Investments - unrestricted - - - - - - 132 Investments - restricted - - - - - - 135 Investments - restricted for payment of current liability - - - - - - 142 Prepaid expenses and other assets 601,464 - - - - 49,963 143 Inventories 23,853 - - - - - 143.1 Allowance for obsolete inventories - - - - - - 144 Interprogram - due from 620,161 - - - - - 145 Assets held for sale - - - - - - 150 TOTAL CURRENT ASSETS 3,741,939 2,650,312 - - - 1,007,372 NONCURRENT ASSETS: Fixed assets: 161 Land 2,896,575 - - - - 1,472,667 162 Buildings 165,767,822 - - - - 7,699,717 163 Furniture, equipment & machinery - dwellings 106,836 - - - - - 164 Furniture, equipment & machinery - administration - 92,917 - - - - 165 Leasehold improvements 8,350,000 - - - - 62,475 166 Accumulated depreciation (104,481,276) (51,498) - - - (4,548,097) 167 Construction in Progress 10,184,052 - - - - - 168 Infrastructure - - - - - - 160 Total fixed assets, net of accumulated depreciation 82,824,009 41,419 - - - 4,686,762 Other non-current assets: 171 Notes and mortgages receivable - non-current 62,274,143 - - - - - 172 Notes and mortgages receivable-non-current - past due - - - - - - 174 Other assets - - - - - - 175 Undistributed debits - - - - - - 176 Investment in joint ventures - - - - - - - - - - - - 180 TOTAL NONCURRENT ASSETS 145,098,152 41,419 - - - 4,686,762 190 TOTAL ASSETS 148,840,091$ 2,691,731$ -$ -$ -$ 5,694,134$ March 31, 2015 62
  • 77.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description PROJECT TOTAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSING SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES STATE/LOCAL Line Item # March 31, 2015 LIABILITIES AND EQUITY: Liabilities: Current Liabilities: 311 Bank overdraft -$ -$ -$ -$ -$ -$ 312 Accounts payable < 90 days 218,258 16,340 - - - 6,057 313 Accounts payable > 90 days past due - - - - - - 321 Accrued wage/payroll taxes payable 330,690 52,054 - - - 11,762 322 Accrued compensated absences - current portion 72,519 10,216 - - - 4,790 324 Accrued contingency liability - - - - - - 325 Accrued interest payable 309,137 - - - - - 331 Accounts payable - HUD PHA programs - 3,368 - - - - 332 Accounts payable - PHA projects - - - - - - 333 Accounts payable - other government - - - - - - 341 Tenant security deposits 294,534 - - - - 84,144 342 Deferred revenue - - - - - - 343 Current portion of L-T debt - capital projects 1,047,892 - - - - 95,623 344 Current portion of L-T debt - operating borrowings - - - - - - 345 Other current liabilities 28,535 - - - - - 346 Accrued liabilities - other 367,889 - - - - 17,086 347 Interprogram - due to - 620,161 - - - 87,671 348 Loan liability - current - - - - - - 310 TOTAL CURRENT LIABILITIES 2,669,454 702,139 - - - 307,133 NONCURRENT LIABILITIES: 351 Long-term debt, net of current - capital projects 13,988,521 - - - - 3,256,985 352 Long-term debt, net of current - operating borrowings - - - - - - 353 Non-current liabilities- other 591,540 286,443 - - - - 354 Accrued compensated absences - noncurrent 652,664 91,948 - - - 43,108 355 Loan liability - non-current - - - - - - 356 FASB 5 Liabilities - - - - - - 357 Accrued pension and OPEB liabilities - - - - - - 350 TOTAL NONCURRENT LIABILITIES 15,232,725 378,391 - - - 3,300,093 300 TOTAL LIABILITIES 17,902,179 1,080,530 - - - 3,607,226 EQUITY: 508.1 Invested in Capital Assets, Net of Related Debt 67,787,596 41,419 - - - 1,334,154 511.1 Restricted Net Assets 62,274,143 - - - - - 512.1 Unrestricted Net Assets 876,173 1,569,782 - - - 752,754 513 TOTAL EQUITY 130,937,912 1,611,201 - - - 2,086,908 600 TOTAL LIABILITIES AND EQUITY 148,840,091$ 2,691,731$ -$ -$ -$ 5,694,134$ Proof of concept - - - - - - 63
  • 78.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # ASSETS: CURRENT ASSETS: Cash: 111 Cash - unrestricted 112 Cash - restricted - modernization and development 113 Cash - other restricted 114 Cash - tenant security deposits 115 Cash - restricted for payment of current liabilities 100 Total cash Accounts and notes receivables: 121 Accounts receivable - PHA projects 122 Accounts receivable - HUD other projects 124 Accounts receivable - other government 125 Accounts receivable - miscellaneous 126 Accounts receivable- tenants 126.1 Allowance for doubtful accounts - tenants 126.2 Allowance for doubtful accounts - other 127 Notes and mortgages receivable- current 128 Fraud recovery 128.1 Allowance for doubtful accounts - fraud 129 Accrued interest receivable 120 Total receivables, net of allowances for doubtful accounts Current investments 131 Investments - unrestricted 132 Investments - restricted 135 Investments - restricted for payment of current liability 142 Prepaid expenses and other assets 143 Inventories 143.1 Allowance for obsolete inventories 144 Interprogram - due from 145 Assets held for sale 150 TOTAL CURRENT ASSETS NONCURRENT ASSETS: Fixed assets: 161 Land 162 Buildings 163 Furniture, equipment & machinery - dwellings 164 Furniture, equipment & machinery - administration 165 Leasehold improvements 166 Accumulated depreciation 167 Construction in Progress 168 Infrastructure 160 Total fixed assets, net of accumulated depreciation Other non-current assets: 171 Notes and mortgages receivable - non-current 172 Notes and mortgages receivable-non-current - past due 174 Other assets 175 Undistributed debits 176 Investment in joint ventures 180 TOTAL NONCURRENT ASSETS 190 TOTAL ASSETS March 31, 2015 SECTION 8 MODERATE REHAB SINGLE ROOM OCCUPANCY SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES OTHER FEDERAL PROGRAM 2 COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL -$ -$ -$ -$ 17,708$ -$ 2,538,863$ - - - - - - 458,816 - - - - - - 1,633,501 - - - - - - 378,678 - - - - - - - - - - - 17,708 - 5,009,858 - - - - - - - 270,798 - - - - - 993,704 - - - - - - - - - - - - - - - - - - - - 509,668 - - - - - - (120,542) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 270,798 - - - - - 1,382,830 - - - - - - - - - - - - - - - - - - - - - - - - - 106,223 - 757,650 - - - - - - 23,853 - - - - - - - 51,000 - - - 87,671 (758,832) - - - - - - - - 321,798 - - - 211,602 (758,832) 7,174,191 - - - - 896,369 - 5,265,611 - - - - 13,651,056 - 187,118,595 - - - - - - 106,836 - - - - 707,492 - 800,409 - - - - - - 8,412,475 - - - - (9,399,574) - (118,480,445) - - - - - - 10,184,052 - - - - - - - - - - - 5,855,343 - 93,407,533 - - - - - - 62,274,143 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 5,855,343 - 155,681,676 321,798$ -$ -$ -$ 6,066,945$ (758,832)$ 162,855,867$ 64
  • 79.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # March 31, 2015 LIABILITIES AND EQUITY: Liabilities: Current Liabilities: 311 Bank overdraft 312 Accounts payable < 90 days 313 Accounts payable > 90 days past due 321 Accrued wage/payroll taxes payable 322 Accrued compensated absences - current portion 324 Accrued contingency liability 325 Accrued interest payable 331 Accounts payable - HUD PHA programs 332 Accounts payable - PHA projects 333 Accounts payable - other government 341 Tenant security deposits 342 Deferred revenue 343 Current portion of L-T debt - capital projects 344 Current portion of L-T debt - operating borrowings 345 Other current liabilities 346 Accrued liabilities - other 347 Interprogram - due to 348 Loan liability - current 310 TOTAL CURRENT LIABILITIES NONCURRENT LIABILITIES: 351 Long-term debt, net of current - capital projects 352 Long-term debt, net of current - operating borrowings 353 Non-current liabilities- other 354 Accrued compensated absences - noncurrent 355 Loan liability - non-current 356 FASB 5 Liabilities 357 Accrued pension and OPEB liabilities 350 TOTAL NONCURRENT LIABILITIES 300 TOTAL LIABILITIES EQUITY: 508.1 Invested in Capital Assets, Net of Related Debt 511.1 Restricted Net Assets 512.1 Unrestricted Net Assets 513 TOTAL EQUITY 600 TOTAL LIABILITIES AND EQUITY Proof of concept SECTION 8 MODERATE REHAB SINGLE ROOM OCCUPANCY SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES OTHER FEDERAL PROGRAM 2 COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL -$ -$ -$ -$ -$ -$ -$ - - - - 56,441 - 297,096 - - - - - - - - - - - 278,869 - 673,375 - - - - 77,317 - 164,842 - - - - - - - - - - - - - 309,137 - - - - - - 3,368 - - - - - - - - - - - - - - - - - - - - 378,678 - - - - - - - - - - - - - 1,143,515 - - - - - - - - - - - - - 28,535 - - - - 2,562 - 387,537 - - - - 51,000 (758,832) - - - - - - - - - - - - 466,189 (758,832) 3,386,083 - - - - - - 17,245,506 - - - - - - - - - - - - - 877,983 - - - - 695,854 - 1,483,574 - - - - - - - - - - - - - - - - - - - - - - - - - 695,854 - 19,607,063 - - - - 1,162,043 (758,832) 22,993,146 - - - - 5,855,343 - 75,018,512 - - - - - - 62,274,143 321,798 - - - (950,441) - 2,570,066 321,798 - - - 4,904,902 - 139,862,721 321,798$ -$ -$ -$ 6,066,945$ (758,832)$ 162,855,867$ - - - - - - - 65
  • 80.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description OPERATING CAPITAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSI SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES SECTION 8 MODERATE REHAB SINGLE ROOM Line Item # REVENUE: 70300 Net tenant rental revenue 7,749,940$ -$ -$ -$ -$ -$ -$ 70400 Tenant revenue - other 226,558 - - - - - - 70500 Total tenant revenue 7,976,498 - - - - - - 70600 HUD PHA grants 11,378,232 1,664,262 37,280,858 88,367 489,405 190,099 822,801 70610 Capital grants - 3,252,234 - 322,688 - - - 70710 Management fee - - - - - - - 70720 Asset management fee - - - - - - - 70730 Book keeping fee - - - - - - - 70740 Front Line Service Fee - - - - - - - 70750 Other fees - - - - - - - 70800 Other government grants - - - - - - - 71100 Investment income - unrestricted 101,336 - - - - - - 71200 Mortgage interest income 2,033,120 - - - - - - 71300 Proceeds from disposition of asseets held for sale - - - - - - - 71301 Cost of sale of assets - - - - - - - 71400 Fraud recovery 17,840 - 127,800 - - - - 71500 Other revenue 500,612 - 90,610 - - - - 71600 Gain or loss on sale of fixed assets - - - - - - - 72000 Investment income - restricted - 500 - - - - 70000 TOTAL REVENUE 22,007,638 4,916,496 37,499,768 411,055 489,405 190,099 822,801 EXPENSES: Administrative 91100 Administrative salaries 1,327,601 - 1,075,692 - 51,020 - - 91200 Auditing fees 39,000 - 13,300 - - - 2,000 91300 Outside management fees 1,728,251 217,509 519,702 65,020 - - 22,425 91310 Book-keeping fee 192,570 - 324,882 - - - - 91400 Advertising and marketing - - - - - - - 91500 Employee benefit contributions- administrative 957,269 - 713,166 - 17,431 - - 91600 Office expenses 209,774 - 146,235 9,868 - - 3,456 91700 Legal expenses 94,505 - 21,893 13,479 - - - 91800 Travel 189 - 7,491 - - - - 91810 Allocated overhead - - - - - - - 91900 Other 112,363 3,273 27,594 - - - - 92000 Asset Management Fee - - - - - - - Tenant services 92100 Tenant services - salaries - - - - - 144,300 - 92200 Relocation costs - 23,375 - - - - - 92300 Employee benefit contributions- tenant services - - - - - 25,465 - 92400 Tenant services - other 15,112 - - - - 20,334 - - Utilities 93100 Water 1,405,886 - - - - - - 93200 Electricity 1,068,475 - - - - - - 93300 Gas 1,251,885 - - - - - - 93400 Fuel 446,730 - - - - - - 93500 Labor - - - - - - - 93600 Sewer - - - - - - - 93700 Employee benefit contributions- utilities - - - - - - - 93800 Other utilities expense 246,105 - - - - - - March 31, 2015 66
  • 81.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description OPERATING CAPITAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSI SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES SECTION 8 MODERATE REHAB SINGLE ROOM Line Item # March 31, 2015 Ordinary maintenance & operation 94100 Ordinary maintenance and operations - labor 2,023,198 - - - - - - 94200 Ordinary maintenance and operations - materials & othe 547,752 - 1,654 - - - - 94300 Ordinary maintenance and operations - contract costs 2,302,075 - - - - - - 94500 Employee benefit contributions- ordinary maintenanc 1,598,305 - - - - - - Protective services 95100 Protective services - labor - - - - - - - 95200 Protective services- other contract costs 117,060 - - - - - - 95300 Protective services - other - - - - - - - 95500 Employee benefit contributions- protective service - - - - - - - General expenses 96100 Insurance premiums - - 36,798 - - - - 96110 Property Insurance 242,258 - - - - - - 96120 liability insurance - - - - - - - 96130 Workmen's compensation 135,003 - 50,939 - 1,500 - - 96140 All Other Insurance 40,196 - - - - - - 96200 Other general expenses 1,970,361 - 181,027 - - - - 96210 Compensated absences 253,772 - 78,452 - - - - 96300 Payments in lieu of taxes - - - - - - - 96400 Bad debt - tenant rents 11,239 - - - - - - 96500 Bad debt- mortgages - - - - - - - 96600 Bad debt - other - - - - - - - 96700 Interest expense - - - - - - - 96710 Interest of Mortgage (or Bonds) Payable - 368,710 - - - - - 96720 Interest on Notes Payable (Short and Long Term) 234,596 - - - - - - 96730 Amortization of bond issue costs - - - - - - - 96800 Severance expense - - 31,971 - - - - 96900 TOTAL OPERATING EXPENSES 18,571,530 612,867 3,230,796 88,367 69,951 190,099 27,881 97000 EXCESS OPERATING REVENUE OVER OPERATING EXPENSES 3,436,108 4,303,629 34,268,972 322,688 419,454 - 794,920 97100 Extraordinary maintenance 33,235 - - 322,688 - - - 97200 Casualty losses - non capitalized - - - - - - - 97300 Housing assistance payments - - 34,335,639 - 419,454 - 728,929 97350 HAP Portability - in - - 49,628 - - - - 97400 Depreciation expense 5,983,144 - 6,019 - - - - 97500 Fraud losses - - - - - - - 97800 Dwelling units rent expense - - - - - - - 90000 TOTAL EXPENSES 24,587,909 612,867 37,622,082 411,055 489,405 190,099 756,810 67
  • 82.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description OPERATING CAPITAL HOUSING CHOICE VOUCHERS REVITALIZATION OF SEVERELY DISTRESSED PUBLIC HOUSI SHELTER PLUS CARE RESIDENT OPPORTUNITIES AND SUPPORTIVE SERVICES SECTION 8 MODERATE REHAB SINGLE ROOM Line Item # March 31, 2015 OTHER FINANCING SOURCES (USES) 10010 Operating transfers in 1,051,395 - - - - - - 10020 Operating transfers out - (1,051,395) - - - - - 10030 Operating transfers from/to primary government - - - - - - - 10040 Operating transfers from/to component unit - - - - - - - 10070 Extraordinary items, net gain/loss - - - - - - - 10080 Special items (net gain/loss) - - - - - - - 10091 Inter Project excess cash transfer in - - - - - - - 10092 Inter Project excess cash transfer out - - - - - - - 10093 Transfers between program and project in 620,161 - - - - - - 10094 Transfers between program and project out - - (620,161) - - - - 10100 TOTAL OTHER FINANCING SOURCES (USES) 1,671,556 (1,051,395) (620,161) - - - - 10000 EXCESS (DEFICIENCY) OF REVENUE OVER EXPENSES (908,715) 3,252,234 (742,475) - - - 65,991 MEMO ACCOUNT INFORMATION: 11020 Required annual debt principal payments 622,892 410,000 - - - - - 11030 Beginning equity 128,594,393 - 2,062,301 - - - 255,807 11040 Prior period adjustments and equity transfers - - 291,375 - - - - 11170 Administrative fee equity - - 1,611,201 - - - - 11180 Housing assistance payments equity - - - - - - - - 1,611,201 - - - - 11190 Unit months available 27,692 - 44,695 - 396 - 1,200 11210 Number of unit months leased 25,676 - 43,317 - 396 - 1,044 Equity Roll Forward Test: Calculation from R/E Statement 130,937,912$ -$ 1,611,201$ -$ -$ -$ 321,798$ B/S Line 513 130,937,912$ -$ 1,611,201$ -$ -$ -$ 321,798$ -$ -$ -$ -$ -$ -$ -$ 68
  • 83.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # REVENUE: 70300 Net tenant rental revenue 70400 Tenant revenue - other 70500 Total tenant revenue 70600 HUD PHA grants 70610 Capital grants 70710 Management fee 70720 Asset management fee 70730 Book keeping fee 70740 Front Line Service Fee 70750 Other fees 70800 Other government grants 71100 Investment income - unrestricted 71200 Mortgage interest income 71300 Proceeds from disposition of asseets held for sale 71301 Cost of sale of assets 71400 Fraud recovery 71500 Other revenue 71600 Gain or loss on sale of fixed assets 72000 Investment income - restricted 70000 TOTAL REVENUE EXPENSES: Administrative 91100 Administrative salaries 91200 Auditing fees 91300 Outside management fees 91310 Book-keeping fee 91400 Advertising and marketing 91500 Employee benefit contributions- administrative 91600 Office expenses 91700 Legal expenses 91800 Travel 91810 Allocated overhead 91900 Other 92000 Asset Management Fee Tenant services 92100 Tenant services - salaries 92200 Relocation costs 92300 Employee benefit contributions- tenant services 92400 Tenant services - other Utilities 93100 Water 93200 Electricity 93300 Gas 93400 Fuel 93500 Labor 93600 Sewer 93700 Employee benefit contributions- utilities 93800 Other utilities expense March 31, 2015 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES 9 OTHER FEDERAL PROGRAM 2 2 STATE/LOCAL COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL -$ -$ 1,230,592$ -$ -$ -$ 8,980,532$ - - - - - - 226,558 - - 1,230,592 - - 9,207,090 - - - 16,188 - - 51,930,212 - - - - - - 3,574,922 - - - - 2,552,907 (2,552,907) - - - - - - - - - - - - 517,452 (517,452) - - - - - 1,540,150 (1,540,150) - - - - - - - - - - - - - - - - - 296 - 9,067 - 110,699 - - - - - - 2,033,120 - - - - - - - - - - - - - - - - 554 - - - 146,194 - - 6,900 - 86,822 - 684,944 - - - - - - - - - - - - 500 - - 1,238,342 16,188 4,706,398 (4,610,509) 67,687,681 - - 150,251 - 1,080,530 - 3,685,094 - - 13,520 - 5,860 - 73,680 - - - - - (2,552,907) - - - - - - (517,452) - - - - - - - - - - 44,311 - 1,006,381 - 2,738,558 - - 37,674 - 148,798 - 555,805 - - 1,844 - 94,882 - 226,603 - - - - 4,251 - 11,931 - - - - - - - - - 680 - 109,393 - 253,303 - - - - - - - - - - - - - 144,300 - - - - - - 23,375 - - - - - - 25,465 - - - 16,188 - - 51,634 - - 150,798 - - - 1,556,684 - - 27,233 - 77,155 - 1,172,863 - - 93,116 - 5,061 - 1,350,062 - - - - - - 446,730 - - - - - - - - - - - - - - - - - - - - - - - 13,598 - - - 259,703 69
  • 84.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # March 31, 2015 Ordinary maintenance & operation 94100 Ordinary maintenance and operations - labor 94200 Ordinary maintenance and operations - materials & othe 94300 Ordinary maintenance and operations - contract costs 94500 Employee benefit contributions- ordinary maintenanc Protective services 95100 Protective services - labor 95200 Protective services- other contract costs 95300 Protective services - other 95500 Employee benefit contributions- protective service General expenses 96100 Insurance premiums 96110 Property Insurance 96120 liability insurance 96130 Workmen's compensation 96140 All Other Insurance 96200 Other general expenses 96210 Compensated absences 96300 Payments in lieu of taxes 96400 Bad debt - tenant rents 96500 Bad debt- mortgages 96600 Bad debt - other 96700 Interest expense 96710 Interest of Mortgage (or Bonds) Payable 96720 Interest on Notes Payable (Short and Long Term) 96730 Amortization of bond issue costs 96800 Severance expense 96900 TOTAL OPERATING EXPENSES 97000 EXCESS OPERATING REVENUE OVER OPERATING EXPENSES 97100 Extraordinary maintenance 97200 Casualty losses - non capitalized 97300 Housing assistance payments 97350 HAP Portability - in 97400 Depreciation expense 97500 Fraud losses 97800 Dwelling units rent expense 90000 TOTAL EXPENSES SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES 9 OTHER FEDERAL PROGRAM 2 2 STATE/LOCAL COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL - - 172,545 - 355,069 - 2,550,812 - - 52,468 - 13,347 - 615,221 - - 100,853 - 713,405 (1,540,150) 1,576,183 - - 79,207 - 266,788 - 1,944,300 - - 9,059 - - - 9,059 - - - - - - 117,060 - - - - - - - - - 1,606 - - - 1,606 - - 27,024 - - - 63,822 - - - - 33,969 - 276,227 - - - - - - - - - 11,283 - 159,558 - 358,283 - - - - 843 - 41,039 - - - - - - 2,151,388 - - 17,659 - 256,461 - 606,344 - - 82,780 - - - 82,780 - - - - - - 11,239 - - - - - - - - - - - - - - - - - - - - - - - 114,810 - - - 483,520 - - - - - - 234,596 - - - - - - - - - - - 10,321 - 42,292 - - 1,202,319 16,188 4,342,072 (4,610,509) 23,741,561 - - 36,023 - 364,326 - 43,946,120 - - - - - - 355,923 - - - - - - - - - - - - - 35,484,022 - - - - - - 49,628 - - 217,647 - 921,698 - 7,128,508 - - - - - - - - - - - - - - - - - 1,419,966 16,188 5,263,770 (4,610,509) 66,759,642 70
  • 85.
    Housing Authority ofthe City of Jersey City NJ009 Financial Data Schedule (FDS) Account Description Line Item # March 31, 2015 OTHER FINANCING SOURCES (USES) 10010 Operating transfers in 10020 Operating transfers out 10030 Operating transfers from/to primary government 10040 Operating transfers from/to component unit 10070 Extraordinary items, net gain/loss 10080 Special items (net gain/loss) 10091 Inter Project excess cash transfer in 10092 Inter Project excess cash transfer out 10093 Transfers between program and project in 10094 Transfers between program and project out 10100 TOTAL OTHER FINANCING SOURCES (USES) 10000 EXCESS (DEFICIENCY) OF REVENUE OVER EXPENSES MEMO ACCOUNT INFORMATION: 11020 Required annual debt principal payments 11030 Beginning equity 11040 Prior period adjustments and equity transfers 11170 Administrative fee equity 11180 Housing assistance payments equity 11190 Unit months available 11210 Number of unit months leased Equity Roll Forward Test: Calculation from R/E Statement B/S Line 513 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES 9 OTHER FEDERAL PROGRAM 2 2 STATE/LOCAL COMMUNITY DEVELOPMENT BLOCK GRANT COCC ELIMINATION TOTAL - - - - - (1,051,395) - - - - - - 1,051,395 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (620,161) - - - - - - 620,161 - - - - - - - - - - - - (181,624) - (557,372) - 928,039 - - 95,623 - - - 1,128,515 291,375 - 2,268,532 - 5,462,274 - 138,934,682 (291,375) - - - - - - - - - - - - 1,611,201 - - - - - - - - - - - - - 1,611,201 - - 1,512 - - - 75,495 - - 1,475 - - - 71,908 -$ -$ 2,086,908$ -$ 4,904,902$ -$ 139,862,721$ -$ -$ 2,086,908$ -$ 4,904,902$ -$ 139,862,721$ -$ -$ -$ -$ -$ -$ -$ 71
  • 86.
    Groundbreaking of CatherineTodd Apartments, an Affordable Housing Project Assisted with Federal Sandy Recovery Funds From L-R: Reginald Jones, JCHA Commissioner; Freddie Kitchens, JCHA Commissioner; Patricia Madison, Executive Director, JCHA; Holly Leicht, HUD Regional Administrator; Anthony Marchetta, NJHMFA; Rolando Lavarro, JC Municipal Council President; Diane Coleman, JC Councilwoman, Ward F; Mayor Steven M. Fulop; Dorothy Carter, Montgomery Gardens RMC President; Joyce Watterman, JC Councilwoman, At Large; Freeholder Jeffrey Dublin and First cousin of Catherine Todd; Henry Todd, Son of Catherine Todd
  • 87.
  • 88.
    Jersey City HousingAuthority Statistical Section (Unaudited) This part of the Comprehensive Annual Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosers, and required supplementary information says about the Authority’s overall financial health. The following are the categories of the schedules that are included in this Section: Financial Trends These schedules contain trend information to help readers understand how the Authority’s financial performance and well-being have changed over time. Revenue Capacity This schedule contains information to help the reader assess the Authority’s most significant sources of revenue. Debt Capacity This schedule presents information to help the reader assess the affordability of the Authority’s current level of outstanding debt and the Authority’s ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the Authority’s financial activities take place. Operating information These schedules contain information about the Authority’s operations and resources to help the reader understand how the Authority’s financial information related to the services the Authority provides and activities it performs.
  • 89.
  • 90.
    2015 2014 20132012 2011 2010 2009 2008 2007 2006 OPERATING REVENUES: Tenant revenue 9,207,090$ 10,249,414$ 10,232,620$ 11,639,786$ 10,888,421$ 13,878,119$ 14,004,617$ 14,650,007$ 12,335,706$ 11,305,358$ HUD and other government operating grants 51,930,212 51,944,640 54,289,585 51,502,273 50,521,980 46,664,555 34,781,484 44,632,836 49,886,113 53,646,522 Other revenues 831,138 762,228 400,295 563,816 3,374,359 12,484,481 3,051,382 4,945,310 792,793 341,529 Total operating revenues 61,968,440 62,956,282 64,922,500 63,705,875 64,784,760 73,027,155 51,837,483 64,228,153 63,014,612 65,293,409 OPERATING EXPENSES: Administrative 7,544,974 8,379,595 8,724,914 9,284,232 8,723,974 10,615,002 9,454,261 14,117,632 10,610,259 10,851,791 Tenant services 244,774 248,376 75,978 226,228 356,006 288,399 876,128 706,015 1,279,523 1,862,997 Utilities 4,786,042 5,281,180 5,306,084 7,217,815 8,131,183 8,033,250 10,169,981 9,633,877 8,989,772 8,405,047 Ordinary maintenance and operation 6,686,516 7,442,365 8,131,068 9,048,276 12,630,206 14,386,175 10,547,772 9,884,476 9,970,806 9,928,348 Protective services 127,725 412,765 381,099 375,262 85,132 347,298 397,425 17,702 68,600 308,401 General expense 3,989,337 5,530,560 5,480,405 5,369,158 3,565,163 2,803,401 2,484,771 2,397,333 2,164,873 2,705,724 Housing assistance payments 35,533,650 36,366,258 36,255,758 33,862,736 31,909,348 30,008,280 26,700,266 25,445,966 27,915,981 24,752,736 Depreciation 7,128,508 6,812,033 10,386,363 10,866,351 13,330,508 14,355,038 13,384,911 13,369,729 10,461,683 12,142,883 Total operating expenses 66,041,526 70,473,132 74,741,669 76,250,058 78,731,520 80,836,843 74,015,515 75,572,730 71,461,497 70,957,927 NET INCOME (LOSS) FROM OPERATIONS (4,073,086) (7,516,850) (9,819,169) (12,544,183) (13,946,760) (7,809,688) (22,178,032) (11,344,577) (8,446,885) (5,664,518) NON-OPERATING REVENUES (EXPENSE): Investment income 2,144,319 2,147,021 1,925,754 1,572,420 1,596,522 47,957 294,768 722,230 555,818 299,132 Interest expense (718,116) (807,836) (531,193) (554,864) (371,263) (1,642,182) (1,421,144) (1,273,100) (978,149) (569,964) Extraordinary Maintenance - - - - - (118,441) (39,341) (6,321) (30,780) - Casualty Loss - - - - - (17,988) - - (410) - Gain on disposition of property and equipment - - - - 9,527 - - - 12,164,608 - Net non-operating revenues/(losses) 1,426,203 1,339,185 1,394,561 1,017,556 1,234,786 (1,730,654) (1,165,717) (557,191) 11,711,087 (270,832) (2,646,883) (6,177,665) (8,424,608) (11,526,627) (12,711,974) (9,540,342) (23,343,749) (11,901,768) 3,264,202 (5,935,350) CAPITAL CONTRIBUTIONS 3,574,922 3,391,894 3,912,150 4,906,215 10,464,223 12,227,687 8,377,868 11,413,565 16,699,534 14,033,026 CHANGE IN NET POSITION 928,039 (2,785,771) (4,512,458) (6,620,412) (2,247,751) 2,687,345 (14,965,881) (488,203) 19,963,736 8,097,676 Net position, beginning of the year 138,934,682 141,720,453 146,232,911 180,310,737 219,285,276 213,269,577 210,430,368 209,554,513 187,687,308 179,589,632 Prior Period Adjustments - - - (27,457,414) (36,726,788) 3,328,354 17,805,090 1,364,058 1,903,469 - Net position, end of the year 139,862,721$ 138,934,682$ 141,720,453$ 146,232,911$ 180,310,737$ 219,285,276$ 213,269,577$ 210,430,368$ 209,554,513$ 187,687,308$ Source: Annual Financial Statements Housing Authority of the City of Jersey City Statement of Revenues, Expenses and Changes in Net Position INCOME/(LOSS) BEFORE CAPITAL CONTRIBUTIONS 72
  • 91.
    2015 2014 20132012 2011 2010 2009 2008 2007 2006 Invested in Capital Assets, Net of Accumulated Depreciation and Related Debet $ 75,018,512 $ 78,044,065 $ 81,771,678 $ 88,166,366 $ 128,330,376 $ 162,567,952 $ 170,497,995 $ 183,330,285 $ 189,418,365 $ 172,591,133 Restricted Net Assets 62,274,143 60,266,036 59,518,116 57,970,003 48,147,968 15,351,462 45,141,978 22,412,307 15,230,717 15,088,414 Unrestricted Net Assets 2,570,066 624,581 430,659 96,542 3,832,393 41,365,862 (2,370,396) 4,687,776 4,905,431 7,761 Total Net Position $ 139,862,721 $ 138,934,682 $ 141,720,453 $ 146,232,911 $ 180,310,737 $ 219,285,276 $ 213,269,577 $ 210,430,368 $ 209,554,513 $ 187,687,308 Source: Annual Financial Statements Housing Authority of the City of Jersey City Net Position by Category 73
  • 92.
    2015 2014 20132012 2011 2010 2009 2008 2007 2006 Land 5,265,611$ 5,265,611$ 5,265,611$ 5,265,611$ 5,647,823$ 10,432,776$ 10,433,776$ 10,182,941$ 10,178,441$ 9,120,976$ Work in Progress 10,184,052 7,341,820 16,817,314 17,074,758 44,627,690 94,105,140 88,968,622 102,483,750 95,717,976 79,018,442 Buildings 195,468,595 195,468,595 183,458,013 179,663,420 233,875,037 260,642,543 247,615,999 227,771,271 226,421,779 193,882,457 Furniture and Equipment 969,720 969,720 969,720 1,403,883 3,051,581 3,231,907 2,540,696 3,102,683 3,095,671 3,101,076 211,887,978 209,045,746 206,510,658 203,407,672 287,202,131 368,412,366 349,559,093 343,540,645 335,413,867 285,122,951 Accumulated Depreciation (118,480,445) (111,351,937) (104,539,904) (94,587,705) (146,086,174) (146,908,252) (132,553,215) (119,241,744) (105,963,117) (95,596,757) Total Capital Assets 93,407,533$ 97,693,809$ 101,970,754$ 108,819,967$ 141,115,957$ 221,504,114$ 217,005,878$ 224,298,901$ 229,450,750$ 189,526,194$ Source: Annual Financial Statements Housing Authority of the City of Jersey City Capital Assets by Category 74
  • 93.
  • 94.
    2015 2014 20132012 2011 2010 2009 2008 2007 2006 Tenant revenue 9,207,090$ 10,249,414$ 10,232,620$ 11,639,786$ 10,888,421$ 13,878,119$ 14,004,617$ 14,650,007$ 12,335,706$ 11,305,358$ HUD and other government operating grants 51,930,212 51,944,640 54,289,585 51,502,273 50,521,980 46,664,555 34,781,484 44,632,836 49,886,113 53,646,522 Other revenues 831,138 762,228 400,295 563,816 3,374,359 12,484,481 3,051,382 4,945,310 792,793 341,529 Investment income 2,144,319 2,147,021 1,925,754 1,572,420 1,596,522 47,957 294,768 722,230 555,818 299,132 Gain on disposition of property and equipment - - - - 9,527 - - - 12,164,608 - Total Revenues 64,112,759$ 65,103,303$ 66,848,254$ 65,278,295$ 66,390,809$ 73,075,112$ 52,132,251$ 64,950,383$ 75,735,038$ 65,592,541$ Source: Annual Financial Statements Housing Authority of the City of Jersey City Revenues on a Gross Basis
  • 95.
  • 96.
    2015 2014 20132012 2011 2010 2009 2008 2007 2006 Capital Fund Program Revenue Bonds 7,570,000$ 7,980,000$ 8,370,000$ 8,745,000$ 9,105,000$ -$ -$ -$ -$ -$ Energy Saving Equipment 7,466,415 8,227,317 8,302,276 -$ -$ -$ -$ -$ -$ -$ Total Bonds Payable 15,036,415$ 16,207,317$ 16,672,276$ 8,745,000$ 9,105,000$ -$ -$ -$ -$ -$ Equity 139,862,721$ 138,934,682$ 141,720,453$ 146,232,911$ 180,310,737$ -$ -$ -$ -$ -$ % Debt to Equity 10.75% 11.67% 11.76% 5.98% 5.05% 0.00% 0.00% 0.00% 0.00% 0.00% Personal Income* 32,747 32,089 30,201 31,332 31,865 29,458 31,643 31,533 27,722 24,384 % of Personal Income 0.22% 0.20% 0.18% 0.36% 0.35% 0.00% 0.00% 0.00% 0.00% 0.00% Population* 265,681 262,146 257,345 254,444 250,317 248,005 242,513 229,007 222,653 242,845 Total Outstanding Debt Per Capita 56.60 61.83 64.79 34.37 36.37 - - - - - Source: Annual Financial Statements and Resident Demographics - JCHA Low-Rent Program N/A = Not Available *2015 Population and Personal Income are estimated Housing Authority of the City of Jersey City Long Term Bonds Payable Note: Percentage of Personal Income and Per Capita calculations are based on total bonds payable using the JCHA's residents demographic information. (Please see JCHA's Demographic and Economic Statistics - Ten Year Trend) 76
  • 97.
    Statistical Section (Unaudited) Schedulesof Demographics And Economic Information
  • 98.
    Age By Gender AgeMale Female HOH Male HOH Female 0 - 5 145 120 0 0 6 - 12 267 274 0 0 13 - 17 197 200 0 0 18 51 40 0 1 19 - 29 308 455 20 102 30 - 39 90 316 34 248 40 - 49 105 367 60 331 50 - 54 36 182 29 165 55 - 61 80 217 53 191 62 - 65 46 115 33 101 Over 65 292 551 263 493 Sub Total 1,617 2,837 492 1,632 Race Race Total HOH WHITE 225 98 Black 3,243 1,542 Hispanic 917 455 Asian 50 26 Other 19 3 Multiple 0 0 None 0 0 Sub Total 4,454 2,124 Elderly/Disabled Age Elderly Non-Elderly Disabled Handicapped 0 - 17 0 1,218 64 0 18 - 61 0 2,237 413 0 62 and Older 999 0 453 0 Sub Total 999 3,455 930 0 Average TTP and Tenant Rent based on Bed Room Size Bed Room Size TTP Tenant Rent 0 305.38$ 234.33$ 1 391.93$ 248.11$ 2 570.12$ 311.83$ 3 628.18$ 305.66$ 4 628.02$ 336.53$ 5 1,005.71$ 352.42$ 6 2,041.64$ 373.28$ 7 -$ -$ Jersey City Housing Authority (JCHA) Low Rent, Demographic Summary Report 77
  • 99.
    Length of Residency Yearsof Residency Total Tenant Family Elderly 1 Yr or Less 348 175 64 2 Yrs 219 105 38 3 Yrs 382 159 47 4 Yrs 182 81 31 5 Yrs 404 172 76 6 - 10 Yrs 823 366 158 11 - 20 Yrs 864 413 174 Over 20 Yrs 1,222 647 384 Sub Total 4,444 2,118 972 Total No. of Families Receiving Assistance Income Source Total No. of Families Total No. of Persons 55 and above 18-54 Below18 SSI 554 596 377 212 7 SS 915 1,024 865 146 13 Pension 192 197 190 7 0 TANF 136 142 14 128 0 General Assistance 169 178 25 153 0 Sub Total 1,966 2,137 1,471 646 20 Average Annual Income Family Size Avg. Annual Income Avg. Family Size Avg. Annual Income Per Family No. of Families 1 13,591.40$ 1.97 25,835.15$ 899 2 19,641.83$ 400 3 22,063.20$ 246 4 27,791.87$ 164 5 24,421.72$ 69 6 25,574.67$ 18 7 32,138.38$ 11 8 21,116.00$ 2 9 17,734.33$ 2 10 -$ 0 Sub Total 1,811 Jersey City Housing Authority Low Rent, Demographic Summary Report 78
  • 100.
    Earned Income Total No.of Families No. of Family Earned Income % of Family With Earned Income Total No. of Person No. of Person With Earned Income 2,123 968 45.60% 4,454 1,239 Details of Tenants with Earned Income Age Group HOH Spouse Co-Head Other Adult 55 and above 206 19 2 8 35 - 54 436 31 4 32 18 - 34 188 5 9 220 Sub Total 830 55 15 260 Ethnicity Relation Hispanic Non-Hispanic HOH 174 801 Non HOH 48 216 Sub Total 222 1,017 Family Language Language Total # by HOH % Total English N/A 0.00 Other N/A 0.00 Portuguese N/A 0.00 Spanish N/A 0.00 Vietmanese N/A 0.00 Sub Total 0 0.00 Community service eligible Total No. of Person Non-Exempted Count 18 - 34 35 - 54 55 and above 1 0 0 1 Sub Total 0 0 0 1 Source: Jersey City Housing Authority Emphasys System N/A: Data not Available Low Rent, Demographic Summary Report Jersey City Housing Authority 79
  • 101.
    Age By Gender AgeMale Female HOH Male HOH Female 0 - 5 394 379 0 0 6 - 12 692 645 0 0 13 - 17 600 595 0 0 18 116 122 0 0 19 - 29 633 817 46 194 30 - 39 171 877 79 805 40 - 49 168 841 113 795 50 - 54 106 429 82 402 55 - 61 208 513 175 476 62 - 65 89 222 77 207 Over 65 256 760 206 686 Sub Total 3,433 6,200 778 3,565 Race Race Total HOH WHITE 893 530 Black 5,150 2,177 Hispanic 3,465 1,569 Asian 99 52 Other 26 12 Multiple 0 0 None 0 Sub Total 9,633 4,340 Elderly/Disabled Age Elderly Non-Elderly Disabled Handicapped 0 - 17 0 3,306 291 0 18 - 61 0 5,000 1,468 0 62 and Older 1,327 0 934 0 Sub Total 1,327 8,306 2,693 0 Average HAP and Contract Payment based on Bed Room Size Bed Room Size HAP Contract Rent 0 723.13$ 1,039.14$ 1 776.14$ 1,084.16$ 2 792.19$ 1,189.00$ 3 894.43$ 1,369.39$ 4 1,031.82$ 1,514.60$ 5 1,549.17$ 1,929.67$ 6 -$ -$ 7 -$ -$ Jersey City Housing Authority (JCHA) Section 8, Demographic Summary Report 80
  • 102.
    Length of Residency Yearsof Residency Total Tenant Family Elderly 1 Yr or Less 2,098 1,046 466 2 Yrs 315 151 19 3 Yrs 964 402 69 4 Yrs 621 307 66 5 Yrs 266 141 42 6 - 10 Yrs 2,576 987 209 11 - 20 Yrs 2,430 1,083 313 Over 20 Yrs 363 216 94 Sub Total 9,633 4,333 1,278 Total No. of Families Receiving Assistance Income Source Total No. of Families Total No. of Persons 55 and above 18-54 Below18 SSI 1,517 1,719 862 632 225 SS 1,536 1,770 1,189 408 173 Pension 188 190 182 8 0 TANF 398 412 42 367 3 General Assistance 294 295 58 237 0 Sub Total 3,933 4,386 2,333 1,652 401 Average Annual Income Family Size Avg. Annual Income Avg. Family Size Avg. Annual Income Per Family No. of Families 1 11,732.89$ 2.18 15,602.16$ 1,748 2 16,815.85$ 915 3 18,454.23$ 682 4 20,878.21$ 388 5 21,148.21$ 183 6 20,380.51$ 65 7 25,109.81$ 25 8 17,473.25$ 8 9 -$ 0 10 3,864.00$ 1 11 -$ 0 13 -$ 0 Sub Total 4,015 Jersey City Housing Authority Section 8, Demographic Summary Report 81
  • 103.
    Earned Income Total No.of Families No. of Family Earned Income % of Family With Earned Income Total No. of Person No. of Person With Earned Income 4,302 1,687 39.21% 5,702 1,940 Details of Tenants with Earned Income Age Group HOH Spouse Co-Head Other Adult 55 and above 248 16 0 5 35 - 54 855 38 4 18 18 - 34 322 9 0 391 Sub Total 1,425 63 4 414 Ethnicity Relation Hispanic Non-Hispanic HOH 435 988 Non HOH 214 303 Sub Total 649 1,291 Family Language Language Total # by HOH % Total English N/A 0.00 Other N/A 0.00 Spanish N/A 0.00 Sub Total 0 0.00 Community service eligible Total No. of Person Non-Exempted Count 18 - 34 35 - 54 55 and above 0 0 0 0 0 Sub Total 0 0 0 0 Source: Jersey City Housing Authority Emphasys System N/A: Data not Available Section 8, Demographic Summary Report Jersey City Housing Authority (JCHA) 82
  • 104.
    Year LIPH Change from PriorYear HCVP Change from Prior Year LIPH & HCVP Combined Change from Prior Year 2006 4,479 0.00% 3,576 0.00% 8,055 0.00% 2007 4,410 -1.54% 3,946 10.35% 8,356 3.74% 2008 4,112 -6.76% 4,862 23.21% 8,974 7.40% 2009 3,703 -9.95% 5,441 11.91% 9,144 1.89% 2010 3,562 -3.81% 5,712 4.98% 9,274 1.42% 2011 3,527 -0.98% 6,340 10.99% 9,867 6.39% 2012 3,885 10.15% 7,274 14.73% 11,159 13.09% 2013 4,082 5.07% 7,550 3.79% 11,632 4.24% 2014 4,207 3.06% 8,209 8.73% 12,416 6.74% 2015 4,454 5.87% 9,631 17.32% 14,085 13.44% Year LIPH Change from Prior Year HCVP Change from Prior Year LIPH & HCVP Combined (Average) Change from Prior Year 2006 $26,491 0.00% $18,165 0.00% $22,328 0.00% 2007 $26,358 -0.50% $18,231 0.36% $22,294 -0.15% 2008 $26,665 1.16% $18,094 -0.75% $22,379 0.38% 2009 $26,975 1.16% $18,115 0.12% $22,545 0.74% 2010 $27,524 2.03% $18,145 0.17% $22,834 1.28% 2011 $27,306 -0.79% $17,916 -1.26% $22,611 -0.98% 2012 $26,350 -3.50% $17,765 -0.84% $22,058 -2.45% 2013 $26,380 0.11% $17,581 -1.04% $21,981 -0.35% 2014 $26,160 -0.84% $17,474 -0.60% $21,817 -0.74% 2015 $26,171 0.04% $17,568 0.54% $21,870 0.24% Source: Jersey City Housing Authority Emphasys System JCHA Tenant Personal Income - Ten Year Trend Housing Authority of the City of Jersey City Demographic and Economic Statistics - Ten Year Trend JCHA Tenant household Population (LIPH, HCVP & Combined) - Ten Year Trend 83
  • 105.
    Year City of Jersey City Changefrom Prior Year 2006 242,845 0.00% 2007 222,653 -8.31% 2008 229,007 2.85% 2009 242,513 5.90% 2010 248,005 2.26% 2011 250,317 0.93% 2012 254,444 1.65% 2013 257,345 1.14% 2014 262,146 1.87% 2015 265,681 1.35% Source: U.S. Census Bureau American Fact Finder Year Median Income Change from Prior Year 2006 24,384 0.00% 2007 27,722 13.69% 2008 31,533 13.75% 2009 31,643 0.35% 2010 29,458 -6.91% 2011 31,865 8.17% 2012 31,332 -1.67% 2013 30,201 -3.61% 2014 32,089 6.25% 2015 32,747 2.05% Source: U.S. Census Bureau American Fact Finder 2015 Population and Median Income are estimated. http://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_14_1YR_B07 011&prodType=table Personal Income - Ten Year Trend City of Jersey City Demographic and Economic Statistics - Ten Year Trend Population - Ten Year Trend http://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_14_1YR_B01 003&prodType=table 84
  • 106.
    Year Rate UnemploymentEmployment Labor Force 2006 6.1% 6,830 105,841 112,671 2007 5.4% 6,112 107,586 113,698 2008 6.5% 7,429 107,556 114,985 2009 10.7% 12,503 104,871 117,374 2010 9.8% 13,468 123,551 137,019 2011 9.3% 12,923 125,589 138,512 2012 9.1% 12,783 127,139 139,922 2013 8.3% 11,541 127,427 138,968 2014 6.6% 9,140 129,195 138,335 2015 N/A N/A N/A N/A Source: State of New Jesey, Department of Labor and Workforce Development N/A: Data not Available http://lwd.state.nj.us/lpaapp/app Employment Status of the City of Jersey City - Ten Year Trend City of Jersey City 85
  • 107.
    Estimate Margin of Error Percent Percent Margin ofError Estimate Margin of Error Percent Percent Margin of Error Estimate Margin of Error Percent Percent Margin of Error Estimate Margin of Error Percent Percent Margin of Error INDUSTRY Civilian employed population 16 years and over 126,011 +/-1,430 126,011 (X) 125,579 +/-1,750 125,579 (X) 125,142 +/-1,606 125,142 (X) 122,813 +/-2,147 122,813 (X) Agriculture, forestry, fishing and hunting, and mining 100 +/-54 0.10% +/-0.1 83 +/-62 0.10% +/-0.1 104 +/-81 0.10% +/-0.1 77 +/-65 0.10% +/-0.1 Construction 3,499 +/-442 2.80% +/-0.3 3,541 +/-442 2.80% +/-0.4 3,505 +/-439 2.80% +/-0.4 3,630 +/-470 3.00% +/-0.4 Manufacturing 8,004 +/-630 6.40% +/-0.5 8,297 +/-678 6.60% +/-0.5 8,019 +/-635 6.40% +/-0.5 7,953 +/-738 6.50% +/-0.6 Wholesale trade 3,670 +/-430 2.90% +/-0.3 4,169 +/-509 3.30% +/-0.4 4,195 +/-527 3.40% +/-0.4 4,342 +/-490 3.50% +/-0.4 Retail trade 12,845 +/-875 10.20% +/-0.7 13,405 +/-953 10.70% +/-0.7 12,744 +/-790 10.20% +/-0.6 11,451 +/-916 9.30% +/-0.7 Transportation and warehousing, and utilities 9,663 +/-731 7.70% +/-0.6 9,252 +/-709 7.40% +/-0.6 9,479 +/-828 7.60% +/-0.6 10,220 +/-756 8.30% +/-0.6 Information 4,400 +/-621 3.50% +/-0.5 4,599 +/-467 3.70% +/-0.4 4,966 +/-642 4.00% +/-0.5 4,575 +/-456 3.70% +/-0.4 Finance and insurance, and real estate and rental and leasing 17,130 +/-894 13.60% +/-0.7 17,460 +/-1,028 13.90% +/-0.8 18,085 +/-929 14.50% +/-0.7 17,599 +/-994 14.30% +/-0.8 Professional, scientific, and management, and administrative and waste management services 20,397 +/-990 16.20% +/-0.8 20,156 +/-1,051 16.10% +/-0.8 19,420 +/-1,071 15.50% +/-0.8 19,125 +/-1,119 15.60% +/-0.9 Educational services, and health care and social assistance 26,346 +/-1,139 20.90% +/-0.9 25,550 +/-1,058 20.30% +/-0.9 24,863 +/-994 19.90% +/-0.8 24,430 +/-1,210 19.90% +/-0.9 Arts, entertainment, and recreation, and accommodation and food services 9,996 +/-791 7.90% +/-0.6 9,393 +/-836 7.50% +/-0.6 9,208 +/-781 7.40% +/-0.6 9,085 +/-835 7.40% +/-0.6 Other services, except public administration 5,250 +/-519 4.20% +/-0.4 5,012 +/-610 4.00% +/-0.5 5,807 +/-592 4.60% +/-0.5 5,387 +/-631 4.40% +/-0.5 Public administration 4,711 +/-493 3.70% +/-0.4 4,662 +/-471 3.70% +/-0.4 4,747 +/-480 3.80% +/-0.4 4,939 +/-529 4.00% +/-0.4 TOTAL 252,022 0 126,012 0 251,158 0 125,580 0 250,284 0 125,143 0 245,626 0 122,814 0 CLASS OF WORKER Civilian employed population 16 years and over 126,011 +/-1,430 126,011 (X) 125,579 +/-1,750 125,579 (X) 125,142 +/-1,606 125,142 (X) 122,813 +/-2,147 122,813 (X) Private wage and salary workers 106,354 +/-1,562 84.40% +/-0.7 106,009 +/-1,856 84.40% +/-0.7 105,132 +/-1,568 84.00% +/-0.7 102,472 +/-2,346 83.40% +/-0.8 Government workers 14,597 +/-794 11.60% +/-0.6 14,638 +/-850 11.70% +/-0.7 14,881 +/-725 11.90% +/-0.6 15,342 +/-827 12.50% +/-0.7 Self-employed in own not incorporated business workers 4,984 +/-552 4.00% +/-0.4 4,858 +/-492 3.90% +/-0.4 5,011 +/-536 4.00% +/-0.4 4,906 +/-558 4.00% +/-0.5 Unpaid family workers 76 +/-45 0.10% +/-0.1 74 +/-45 0.10% +/-0.1 118 +/-83 0.10% +/-0.1 93 +/-74 0.10% +/-0.1 TOTAL 252,022 0 126,012 0 251,158 0 125,580 0 250,284 0 125,143 0 245,626 0 122,814 0 Source: U.S. Census Bureau, 5-Year American Community Survey 2007-2011 (5 YEARS) 2006-2010 (5 YEARS) Wage and Salary Employment City of Jersey City, New Jersey Total Employment by Industry: 2006 - 2013 (5 Year Trends) 2009-2013 (5 YEARS) 2008-2012 (5 YEARS) 86
  • 108.
  • 109.
    SEMAP-Indicator # ScoresEarned Maximum Score Waiting List Selection 15 15 Reasonable Rent 20 20 Determination of Adjusted Income 15 20 Utility Allowance Schedule 5 5 HQS Quality Control 5 5 HQS Enforcement 10 10 Expanding Housing Opportunities 5 5 Payment Standards 5 5 Timely Annual Reexaminations 10 10 Correct Tenant Rent Calculations 5 5 Pre-contract HQS 5 5 Continuing HQS Inspections 10 10 Lease-Up 15 20 Family Self Sufficiency 8 10 Deconcentration Bonus 5 PHAS Total Score 138 145 Designation Status: 95% Housing Authority of the City of Jersey City Section 8 Management Assessment Program (SEMAP) For Fiscal Year 2015 High Performer 87
  • 110.
    PHAS Indicator Audited Projected Score* Un-Audited Score Maximum Score Physical36 36 40 Financial 11 7 25 Management Operations 14 10 25 Capital Fund 10 10 10 PHAS Total Score 71 63 100 Designation Status: Source: HUD Financial Data Schedule (FDS) * Audited Scores are projected for 2015, since the Final Scores will available only after HUD Review Housing Authority of the City of Jersey City Public Housing Assessment System (PHAS) For Fiscal Year 2015 Sub-Standard Performer 88
  • 111.
    PROJECT NAME AMPACC UNITS FEDERAL PROPERTIES MARION GARDENS 002 233 BOOKER T. WASHINGTON APTS 003 319 HUDSON GARDENS 004 223 HOLLAND GARDENS 005 192 MONTGOMERY GARDENS 006 373 CURRIES WOODS 008 295 BERRY GARDENS 009 368 DWIGHT STREET HOMES 010 28 THOMAS J. STEWART APTS 016 48 TOTAL FEDERAL PRO PERTIES 2,079 NON-FEDERAL PROPERTIES UNITS 254 BERGEN AVENUE 254 36 ARLINGTON GARDENS 300 90 TOTAL NON-FEDERAL PROPERTIES 126 JCHA MANAGED PRO PERTIES 2,205 JCHA MANAGED PRO PERTIES Housing Authority of the City of Jersey City Summary of Public Housing Developments in Full Operation 89
  • 112.
    PROJECT NAME AMPACC UNITS LAFAYETTE VILLAGE 012 77 LAFAYETTE SENIOR LIVING CENTER 013 82 PACIFIC COURT 014 41 WOODWARD TERRACE 015 45 GLORIA ROBINSON COURT HOMES -PHASE I 017 58 BARBARA PLACE TERRACE 018 40 GLORIA ROBINSON COURT HOMES -PHASE II 019 71 OCEAN POINTE EAST AND WEST 020 40 GLENNVIEW TOWNHOUSES I 021 38 GLORIA ROBINSON COURT HOMES - PHASE III 022 24 PRIVATELY MANAGED PROPERTIES 516 Housing Authority of the City of Jersey City Summary of Public Housing Developments in Full Operation PRIVATELY MANAGED MIXED-FINANCE PROPERTIES 90
  • 113.
  • 114.
    Marion Gardens PROJECT SUMMARY PROPERTYMANAGEMENT Jersey City Housing Authority Asset Manager, Stephanie Carson 57 Dales Avenue, Jersey City, NJ 07306-6807 Phone: (201) 706-4779 Fax: (201) 547-8982 YEAR COMPLETED 1940 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 37 5 490 SF 2 Bedroom 44 5 650 SF 3 Bedroom 75 1 880 SF 4 Bedroom 42 0 1150 SF 5 Bedroom 17 0 1260 SF 6 Bedroom 18 0 1500 SF Total 233 11 Dwelling units: 228 Non-dwelling units: 5 Number of buildings: 15 Number of stories: 3 Site Size: 12.33 acres Amenities/Special Features: Three buildings on this site (#7, #8, #9) occupy the Main Offices and other centralized ancillary functions of the Jersey City Housing Authority. Other features include a Manager’s Office (600 SF), Maintenance Shop (300 SF), Community Room (800 SF) and Storage (5000 SF). Site amenities include a basketball court and various play equipment/areas. CONSTRUCTION TYPE Three story (with basement/crawl space) masonry buildings with brick veneer and peaked shingle roofs (on 11 buildings) and flat EPDM roofs (on 4 buildings). DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesMarion Gardens.pubssg 92
  • 115.
    Booker T. WashingtonApartments PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Allison Ford 200 Colden Street, Jersey City, NJ 07302-4111 Phone: (201) 706-4756 Fax: (201) 547-6689 YEAR COMPLETED 1943 (Buildings 1 - 7)/1955 (Buildings 8 & 9) DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 85 1 500 SF 2 Bedroom 126 1 640 SF 3 Bedroom 79 1 750 SF 4 Bedroom 29 0 920 SF Total 319 3 Dwelling units: 307 Non-dwelling units: 12 Number of buildings: 9 Number of stories: 3 & 4 Site Size: 7.68 acres Amenities/Special Features: Features include a Manager’s Office (600 SF), Maintenance Shop (800 SF) and Community Room (2500 SF). Site amenities include basketball courts and various play equipment/areas. CONSTRUCTION TYPE Three and four story (with basement/crawl space) masonry buildings with brick veneer and peaked shingle roofs. DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesBooker T. Washington Apts.pubssg 93
  • 116.
    Hudson Gardens PROJECT SUMMARY PROPERTYMANAGEMENT Jersey City Housing Authority Asset Manager, Carol Tyler 27 Palisade Avenue, Jersey City, NJ 07306-1222 Phone: (201) 706-4773 Fax: (201) 547-3727 YEAR COMPLETED 1944 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 82 0 460 SF 2 Bedroom 84 0 650 SF 3 Bedroom 50 0 740 SF 4 Bedroom 6 0 880 SF Total 224 0 Dwelling units: 221 Non-dwelling units: 3 Number of buildings: 6 Number of stories: 3 & 4 Site Size: 4.46 acres Amenities/Special Features: The first and second floors of Building #1 are leased to outside tenants. Other features include a Manager’s Office (1500 SF), Maintenance Shop (1200 SF), Community Room (600 SF) and Child Care Facilities (3500 SF). Site amenities include a basketball court and various play equipment/areas. CONSTRUCTION TYPE Three and four story (with basement/crawl space) masonry buildings with brick veneer and peaked shingle roofs. DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesHudson Gardens.pubssg 94
  • 117.
    Holland Gardens PROJECT SUMMARY PROPERTYMANAGEMENT Jersey City Housing Authority Asset Manager, Carol Tyler 241 Sixteenth Street, Jersey City, NJ 07310-1119 Phone: (201) 706-4768 Fax: (201) 547-8985 YEAR COMPLETED 1944 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 70 0 460 SF 2 Bedroom 74 0 640 SF 3 Bedroom 42 0 740 SF 4 Bedroom 6 0 880 SF Total 192 0 Dwelling units: 189 Non-dwelling units: 3 Number of buildings: 5 Number of stories: 3 & 4 Site Size: 3.31 acres Amenities/Special Features: Features include a Manager’s Office (600 SF), Maintenance Shop (800 SF) and Community Room (600 SF). Site amenities include a basketball court and various play equipment/areas. CONSTRUCTION TYPE Three and four story (with basement/crawl space) masonry buildings with brick veneer and peaked shingle roofs. DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesHolland Gardens.pubssg 95
  • 118.
    Montgomery Gardens PROJECT SUMMARY PROPERTYMANAGEMENT Jersey City Housing Authority Asset Manager, Allison Ford 563 Montgomery Street, Jersey City, NJ 07302-3139 Phone: (201) 706-4785 Fax: (201) 547-8944 YEAR COMPLETED 1953 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 30 2 480 SF 2 Bedroom 290 10 700 SF 3 Bedroom 103 6 865 SF 4 Bedroom 24 1 1055 SF Total 447 19 Dwelling units: 434 Non-dwelling units: 13 Number of buildings: 6 Number of stories: 10 Site Size: 5.6 acres Amenities/Special Features: Features include a Manager’s Office (600 SF), Maintenance Shop (800 SF), Community Room (800 SF) and Child Care Facilities (2500 SF). Site amenities include a basketball court and various play equipment/areas. CONSTRUCTION TYPE Ten story (with basement) masonry high rise buildings with brick veneer and concrete deck EPDM flat roofs. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating families. This development is slated for demolition, with the exception of Building #1 which will be rehabbed. Updated 04/2014 X:JCHA Site SummariesMontgomery Gardens.pubssg 96
  • 119.
    Curries Woods –3 New Heckman Drive PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED/ RENOVATED 1957/1995 DEVELOPMENT PROFILE Type # Units #/HC Units Size 1 Bedroom 26 8 750 SF 2 Bedroom 52 7 930 SF 3 Bedroom 13 5 1100 SF Total 91 20 Dwelling units: 91 Non-dwelling units: 0 Number of buildings: 1 Number of stories: 14 Amenities/Special Features: Features include a Manager’s Office (1800 SF), Community Room (1260 SF), Storage (540 SF) and Laundry Room Facilities. Site amenities include a Rock Garden. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi-Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Fourteen story (with basement) masonry high rise building with brick veneer and concrete deck EPDM flat roof. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating senior citizens and handicapped persons. Updated 01/2014 X:JCHA Site SummariesCurries Woods 3 New Heckman.pubssg 97
  • 120.
    Curries Woods –Phase I Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 1998 DEVELOPER/CONTRACTOR Paphian Enterprises, Ocean, NJ ARCHITECT Oppenheimer, Brady and Vogelstein, AIA Architects, New York, NY DEVELOPMENT PROFILE Type # Units #/HC Units Size 3 Bedroom (Row) 18 0 1000 SF 4 Bedroom (Row) 24 0 1200 SF 4 Bedroom (Walkup) 4 2 1200 SF Total 46 2 Dwelling units: 46 Non-dwelling units: 0 Number of buildings: 9 Number of stories: 2 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include various play equipment/ areas. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi-Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Two story (slab on grade) wood frame modular construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup and row types) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase I.pubssg 98
  • 121.
    Curries Woods –Phase II Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 1998 DEVELOPER/CONTRACTOR Agia Mason, Inc., Ocean, NJ ARCHITECT Oppenheimer, Brady and Vogelstein, AIA Architects, New York, NY DEVELOPMENT PROFILE Type # Units #/HC Units Size 3 Bedroom (Row) 14 0 1080 SF 4 Bedroom (Row) 4 0 1270 SF 4 Bedroom (Walkup) 2 1 1300 SF Total 20 1 Dwelling units: 20 Non-dwelling units: 0 Number of buildings: 2 Number of stories: 2 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include various play equipment/ areas. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi-Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Two story (slab on grade) wood frame modular construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup and row types) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase II.pubssg 99
  • 122.
    Curries Woods –Phase III Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 2000 DEVELOPER/CONTRACTOR Ernest Bock & Sons, Inc., Philadelphia, PA ARCHITECT Schwam Architects, Elkins Park, PA DEVELOPMENT PROFILE Type # Units #/HC Units Size 3 Bedroom (Walkup) 3 1 1200 SF 4 Bedroom (Walkup) 15 0 1400 SF Total 18 1 Dwelling units: 18 Non-dwelling units: 0 Number of buildings: 9 Number of stories: 2 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include private rear yards for each building. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi-Purpose Room with kitchen and Board of Education Program spaces and classrooms.. CONSTRUCTION TYPE Two story (slab on grade) wood frame modular construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase III.pubssg 100
  • 123.
    Curries Woods –Phase IV Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 2003 DEVELOPER/CONTRACTOR K. Hovnanian Companies—Northeast, Inc., Edison, NJ ARCHITECT Lindemon WIncklemann Deupree Martin & Assoc., Jersey City, NJ DEVELOPMENT PROFILE Type # Units #/HC Units Size 2 Bedroom (Walkup) 14 2 1100 SF 3 Bedroom (Walkup) 14 0 1400 SF 3 Bedroom (Row) 10 0 1425 SF 4 Bedroom (Row) 2 0 1750 SF Total 40 2 Dwelling units: 40 Non-dwelling units: 0 Number of buildings: 5 Number of stories: 2 & 3 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include private rear yards for each ground floor unit. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi- Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Two and three story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup and row types) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase IV.pubssg101
  • 124.
    Curries Woods –Phase V Townhouses PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Donna Chandler 3 New Heckman Drive, Jersey City, NJ 07305-2300 Phone: (201) 706-4762 Fax: (201) 547-8926 YEAR COMPLETED 2005 DEVELOPER/CONTRACTOR Ingerman Construction Company, Cherry Hill, NJ ARCHITECT Lindemon WIncklemann Deupree Martin & Assoc., Jersey City, NJ DEVELOPMENT PROFILE Type # Units #/HC Units Size 2 Bedroom (Walkup) 44 17 1100 SF 3 Bedroom (Walkup) 12 0 1400 SF 3 Bedroom (Row) 20 0 1425 SF 4 Bedroom (Row) 4 0 1750 SF Total 80 17 Dwelling units: 80 Non-dwelling units: 0 Number of buildings: 8 Number of stories: 2 & 3 Amenities/Special Features: Townhouse units with individual entrances. Site amenities include private rear yards for each ground floor unit. A Maintenance Shop Building is located on Old Bergen Road and the Community Revitalization Center is located on Ruby Brown Terrace which includes a Multi- Purpose Room with kitchen and Board of Education Program spaces and classrooms. CONSTRUCTION TYPE Two and three story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (walkup and row types) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesCurries Woods Phase V.pubssg 102
  • 125.
    Berry Gardens I& II PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Louranett George 199 Ocean Avenue, Jersey City, NJ 07305-3827 92 Danforth Avenue, Jersey City, NJ 07305-3908 Phone: (201) 706-4751 Fax: (201) 547-8969 YEAR COMPLETED 1966 DEVELOPMENT PROFILE Type #/Units #/HC Units Size BLDG. A 0 Bedroom 19 0 390 SF 1 Bedroom 130 11 H&VI 480 SF 2 Bedroom 7 0 620 SF Subtotal 156 11 H&VI BLDG. B 0 Bedroom 19 1 HC/1 H&VI 390 SF 1 Bedroom 102 3 HC/3 H&VI 480 SF 2 Bedroom 9 1 HC 620 SF Subtotal 130 5 HC/4 H&VI Total Dwelling units: 285 Non-dwelling units: 1 Number of buildings: 2 Number of stories: 11 & 13 Site Size: 3.7 acres Amenities/Special Features: Features include a Manager’s Office (200 SF), Maintenance Shop (250 SF), Community Room (1500 SF) and Laundry Room Facilities. CONSTRUCTION TYPE Two, eleven and thirteen story (with basement), masonry high rise buildings with brick veneer and concrete deck EPDM flat roofs. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating senior citizens. Updated 01/2014 X:JCHA Site SummariesBerry Gardens.pubssg Berry Gardens I Bldg. A 199 Ocean Avenue Berry Gardens II Bldg. B 92 Danforth Avenue 103
  • 126.
    Berry Gardens III& IV - Danforth Hall PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Louranett George 72-82 Danforth Avenue, Jersey City, NJ 07305-3986 Phone: (201) 706-4751 Fax: (201) 547-8969 YEAR ACQUIRED 1982 DEVELOPMENT PROFILE Type #/Units #/HC Units Size BLDG. C NO. 1 - 82 DANFORTH 0 Bedroom 12 4 HC 395 SF (AV.) 1 Bedroom 28 4 HC/1 H&VI 495 SF (AV.) Subtotal 40 8 HC/1 H&VI BLDG. D NO. 2 - 72 DANFORTH 0 Bedroom 9 0 386 SF (AV.) 1 Bedroom 33 1 HC 544 SF (AV.) Subtotal 42 1 HC Total Dwelling units: 72 Non-dwelling units: 10 Number of buildings: 2 Number of stories: 5 Site Size: 0.56 acres Amenities/Special Features: Features include a Maintenance Shop (100 SF) and Laundry Room Facilities. CONSTRUCTION TYPE Five story masonry mid-rise buildings with brick veneer and flat roofs. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating senior citizens. Updated 01/2014 X:JCHA Site SummariesDanforth Hall.pubssg 104
  • 127.
    Dwight Street Homes PROJECTSUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Sammy Montanya 315 Randolph Avenue, Jersey City, NJ 07304-2843 Phone: (201) 706-4741 Fax: (201) 547-8993 PROJECT LOCATION Stegman Street & Dwight Street, Jersey City, NJ 07305 YEAR COMPLETED 1995 DEVELOPER/CONTRACTOR GD Turnkey Associates, Dover, NJ ARCHITECT Nadaskay Kopelson, Morristown, NJ DEVELOPMENT PROFILE #/Units #/Units still Type Constructed Owned by JCHA Size 3 BR Semi-detached(2 story) 46 9 1000 SF 4 BR Semi-detached (2 story) 46 9 1200 SF 3 BR HC Semi-detached (1 story) 8 2 978 SF Total 100 20 Number of buildings (constructed): 50 Number of buildings (still owned by JCHA): 10 CONSTRUCTION TYPE Two family, one and two story (with crawl space) wood frame modular construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Public housing (semi-detached type) rental apartments accommodating families. Updated 04/2014 X:JCHA Site SummariesDwight Street Homes.pubssg 105
  • 128.
    Lafayette Village PROJECT SUMMARY PROPERTYMANAGEMENT McCormack Baron Ragan Property Manager, Diana Gallo 579 Grand Street, Jersey City, NJ 07304-4500 Phone: (201) 309-0309 Fax: (201) 309-0409 YEAR COMPLETED 2002 DEVELOPER McCormack Baron Salazar, St. Louis, Missouri CONTRACTOR D.T. Allen/Lighton Industries, Midland Park, NJ ARCHITECT Trivers Associates, St. Louis, Missouri DEVELOPMENT PROFILE Type #/Units #/HC Units Size 2 Bedroom Row (1.5 bath) 57 0 1024 SF 2 Bedroom Walkup (1 & 2 bath) 32 5 912 SF & 1011 SF 3 Bedroom Walkup (2 bath) 4 2 1218 SF 3 Bedroom Semi-detached (1.5 bath) 23 0 1432 SF 4 Bedroom Semi-detached (2.5 bath) 7 0 1551 SF 4 Bedroom Row (2.5 bath) 1 0 1551 SF Total 124 7 Dwelling units: 124 Non-dwelling units: 0 Public Housing Units: 77 Tax Credit Units: 24 Market Rate Units: 23 Number of buildings: 32 Number of stories: 2 Site size: 5.79 acres Amenities/Special Features: On-site Management /Community Building with Fitness Room. CONSTRUCTION TYPE Two story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesLafayette Village.pubssg 106
  • 129.
    Lafayette Senior LivingCenter PROJECT SUMMARY PROPERTY MANAGEMENT Interstate Realty Management Company Property Manager, Michelle Middleton 463 Pacific Avenue, Jersey City, NJ 07304-3918 Phone: (201) 395-0900 Fax: (201) 395-0911 YEAR COMPLETED 2005 DEVELOPER Michaels Development Company, Marlton, NJ CONTRACTOR AST Development Corporation, Lavalette, NJ ARCHITECT Lindemon Winkelmann Deupree Martin & Associates, Jersey City, NJ DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom 78 4 HC, 2 H&VI 620 SF 2 Bedroom 4 0 830 SF 2 Bedroom Superintendent 1 0 850 SF Total 83* 4 HC, 2 H&VI Dwelling units: 83 Non-dwelling units: 0 Number of buildings: 1 Number of stories: 4 Site size: 57,882 SF (1.33 acres) Amenities/Special Features: Laundry facilities on each floor, community room w/warming kitchen, 2 lounges, library, game/billiard room, computer room, doctor’s office, hair salon. *All units are handicap adaptable. CONSTRUCTION TYPE Pre-cast plank and steel/metal stud frame construction with brick and concrete pre-cast exterior panels and EPDM and standing seam metal roof. DEVELOPMENT TYPE Public housing elevator rental apartments accommodating senior citizens. Superintendent’s unit is a non-public housing unit. Updated 01/2014 X:JCHA Site SummariesLafayette Senior Living Center.pubssg 107
  • 130.
    Pacific Court PROJECT SUMMARY PROPERTYMANAGEMENT Interstate Realty Management Co. Property Manager, Battana Rodriguez 148 Bramhall Avenue, Jersey City, NJ 07304-4702 Phone: (201) 333-7100 Fax: (201) 333-7151 YEAR COMPLETED 2006 DEVELOPER Michaels Development Corporation, Marlton, NJ CONTRACTOR WS Cumby & Son, Springfield, PA ARCHITECT Wallace, Roberts, & Todd, LLC., Philadelphia, PA DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Walkup 6 1 HC 775 SF 2 Bedroom Walkup 25 1 HC, 2 H&VI 1029 SF (AV.) 3 Bedroom Walkup 39 2 HC 1330 SF (AV.) 4 Bedroom Row 2 0 1550 SF Total 72 4 HC, 2 H&VI Dwelling units: 72 Non-dwelling units: 0 Public Housing Units: 5 Tax Credit Units: 15 Market Rate Units: 15 Public Housing/Tax Credit Units: 36 Super’s Unit: 1 Number of buildings: 8 Number of stories: 2 & 3 Site size: 2.58 acres Amenities/Special Features: On-site Management Office with meeting space. Individual exterior storage sheds for each unit. CONSTRUCTION TYPE Two and three story (slab on grade) wood frame construction with siding (brick veneer on 2 buildings on Pacific Avenue) and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesPacific Court.pubssg 108
  • 131.
    Woodward Terrace PROJECT SUMMARY PROPERTYMANAGEMENT Interstate Realty Management Co. Property Manager, Battana Rodriguez 148 Bramhall Avenue, Jersey City, NJ 07304-4702 Phone: (201) 324-0222 Fax: (201) 324-1446 YEAR COMPLETED 2007 DEVELOPER Michaels Development Corporation, Marlton, NJ CONTRACTOR WS Cumby & Son, Springfield, PA ARCHITECT Wallace, Roberts, & Todd, LLC., Philadelphia, PA DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Walkup 2 0 836 SF 2 Bedroom Walkup 29 2 HC, 2 H&VI 1038 SF (AV.) 3 Bedroom Walkup 37 2 HC 1320 SF (AV.) 4 Bedroom Row 2 0 1550 SF Total 70 4 HC, 2 H&VI Dwelling units: 70 Non-dwelling units: 0 Public Housing Units: 11 Tax Credit Units: 15 Market Rate Units: 9 Public Housing/Tax Credit Units: 34 Super’s Unit: 1 Number of buildings: 5 Number of stories: 2 & 3 Site size: 2.31 acres Amenities/Special Features: Individual exterior storage sheds for each unit. CONSTRUCTION TYPE Two and three story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesWoodward Terrace.pubssg 109
  • 132.
    Thomas J. StewartApartments PROJECT SUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Luz Santana 88-92 Erie Street, Jersey City, NJ 07302-2400 Phone: (201) 706-4778 Fax: (201) 547-3823 YEAR ACQUIRED 1983 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 0 Bedroom 8 1 HC/1 H&VI 490 SF 1 Bedroom 40 2 HC/5 H&VI 575 SF (AV.) Total 48 3 HC/6 H&VI Dwelling units: 48 Non-dwelling units: 0 Number of buildings: 1 Number of stories: 6 Site Size: 0.23 acres Amenities/Special Features: Features include a Manager’s Office (100 SF), Maintenance Shop (65 SF), Community Room (600 SF), Storage (48 SF) and Laundry Room Facilities. Building amenities include a rooftop communal space. CONSTRUCTION TYPE Six story (with basement) masonry mid-rise building with brick veneer and built up flat roof. DEVELOPMENT TYPE Public housing (elevator type) rental apartments accommodating senior citizens. Updated 01/2014 X:JCHA Site SummariesThomas J. Stewart Apts.pubssg 110
  • 133.
    Gloria Robinson CourtHomes Phase I & II PROJECT SUMMARY PROPERTY MANAGEMENT Ingerman Management Corporation Property Manager, Karla Baez-Norlander 348 Duncan Ave., Jersey City, NJ 07306-7002 Phone: (201) 333-8107 Fax: (201) 985-9493 YEAR COMPLETED PHASE I—2009, PHASE II—2010 DEVELOPER The Ingerman Group, Cherry Hill, NJ CONTRACTOR Ingerman Construction Company, Cherry Hill, NJ ARCHITECT Kitchen & Associates, Collingswood, NJ DEVELOPMENT PROFILE PHASE I Type #/Units #/HC Units Size 1 Bedroom Walkup 6 1 HC 800 SF 2 Bedroom Walkup 28 2 HC 1010 SF (AV.) 3 Bedroom Walkup 26 1 HC, 1 H&VI 1374 SF (AV.) 4 Bedroom Walkup 6 1 H&VI 1830 SF Total 66 4 HC, 2 H&VI PHASE II Type #/Units #/HC Units Size 1 Bedroom Walkup 33 2 HC 730 SF 2 Bedroom Walkup 19 2 HC 958 SF (AV.) 3 Bedroom Walkup 26 1 HC, 2 H&VI 1265 SF (AV.) Total 78 5 HC, 2 H&VI Dwelling units: 144 (Total), 66 (Phase I), 78 (Phase II) Non-dwelling units: 0 Public Housing Units: 5 (Phase I), 6 (Phase II) Tax Credit Units: 0 Market Rate Units: 8 (Phase I), 7 (Phase II) Public Housing/Tax Credit Units: 53 (Phase I), 65 (Phase II) Super’s Unit: 0 Number of buildings: 5 Number of stories: 3 & 4 Site size: 4.19 acres Amenities/Special Features: Management Office space including Community Space and Computer Room. Laundry facilities are available on each floor of Building D and in each unit in the other buildings. CONSTRUCTION TYPE Three and four story (slab on grade) wood frame construction with brick veneer and siding and flat roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 04/2014 X:JCHA Site SummariesGloria Robinson Court Homes Phase I & II.pubssg 111
  • 134.
    Barbara Place Terrace PROJECTSUMMARY PROPERTY MANAGEMENT Interstate Realty Management Company Property Manager, Michelle Middleton 471 Pacific Avenue, Jersey City, NJ 07304-3912 Phone: (201) 395-0900 Fax: (201) 395-0911 YEAR COMPLETED 2009 DEVELOPER Michaels Development Corporation, Marlton, NJ CONTRACTOR WS Cumby & Son, Springfield, PA ARCHITECT Wallace, Roberts, & Todd, LLC., Philadelphia, PA DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Walkup 12 2 HC, 1 H&VI 852 SF (AV.) 2 Bedroom 1 Bath Walkup 19 2 HC, 1 H&VI 963 SF (AV.) 2 Bedroom 2.5 Bath Walkup 14 0 1164 SF 3 Bedroom 1.5 Bath Walkup 18 0 1285 SF (AV.) 3 Bedroom 2 Bath Walkup 2 0 1212 SF 4 Bedroom 2.5 Bath Walkup 2 0 1879 SF Total 67 4 HC, 2 H&VI Dwelling units: 67 Non-dwelling units: 0 Public Housing Units: 0 Tax Credit Units: 16 Market Rate Units: 10 Public Housing/Tax Credit Units: 40 Super’s Unit: 1 Number of buildings: 7 Number of stories: 3 & 4 Site size: 2.27 acres Amenities/Special Features: Individual exterior storage sheds for each unit. Management Office space including Community Space, Computer Room, Laundry Facilities and Exercise Facilities. CONSTRUCTION TYPE Three and four story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesBarbara Place Terrace.pubssg 112
  • 135.
    Ocean Pointe PROJECT SUMMARY PROPERTYMANAGEMENT Interstate Realty Management Company Property Manager, Nina Parker-Davis 460 Ocean Avenue, Jersey City, NJ 07305-3269 Phone: (201) 435-4646 Fax: (201) 435-0109 YEAR COMPLETED 2010 DEVELOPER Michaels Development Company, Marlton, NJ CONTRACTOR W.S. Cumby & Sons, Springfield, PA ARCHITECT KNTM Architects, LLC, East Orange, NJ DEVELOPMENT PROFILE EAST BLDG. Type #/Units #/HC Units Size 1 Bedroom 24 3 650-700 SF 2 Bedroom 3 0 850 SF Total 27 3 WEST BLDG. Type #/Units #/HC Units Size 1 Bedroom 29 3 685-870 SF 2 Bedroom 3 0 920 SF Total 32 3 Dwelling units: 59* Non-dwelling units: 0 Public Housing/Tax Credit Units: 40 Section 8 Voucher Units: 18 Super’s Unit: 1 Number of buildings: 2 Number of stories: 4 Site size: 0.84 acres Amenities/Special Features: Laundry facilities on each floor, Community Room, Warming Kitchens, Computer Room, Game Room, and TV/Library Room. *All units are handicap adaptable. CONSTRUCTION TYPE Wood stud frame construction with masonry. DEVELOPMENT TYPE Elevator rental apartments accommodating senior citizens. Updated 01/2014 X:JCHA Site SummariesOcean Pointe.pubssg West Bldg. 461 Ocean Avenue East Bldg. 460 Ocean Avenue 113
  • 136.
    Glennview Townhouses PhaseI PROJECT SUMMARY PROPERTY MANAGEMENT Interstate Realty Management Company Property Manager, Michelle Middleton 463 Pacific Avenue, Jersey City, NJ 07304-3918 Phone: (201) 395-0900 Fax: (201) 395-0911 YEAR COMPLETED 2011/2012 DEVELOPER Michaels Development Corporation, Marlton, NJ CONTRACTOR Prestige Renovations, Marlton, NJ ARCHITECT Wallace, Roberts, & Todd, LLC., Philadelphia, PA DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Walkup 14 0 874 SF (AV.) 2 Bedroom 1 Bath Walkup 20 4 HC, 2 H&VI 931 SF (AV.) 2 Bedroom 2.5 Bath Walkup 6 0 1206 SF 3 Bedroom 1.5 Bath Walkup 19 0 1388 SF (AV.) 3 Bedroom 2 Bath Walkup 2 0 1241 SF 4 Bedroom 2.5 Bath Walkup 2 0 2002 SF Total 63 4 HC, 2 H&VI Dwelling units: 63 Non-dwelling units: 0 Public Housing Units: 5 Tax Credit Units: 17 Market Rate Units: 8 Public Housing/Tax Credit Units: 33 Super’s Unit: 1 Number of buildings: 6 Number of stories: 3 & 4 Site size: 1.933 acres Amenities/Special Features: Individual exterior storage sheds for each unit. CONSTRUCTION TYPE Three and four story (slab on grade) wood frame construction with brick veneer and siding and pitched shingle roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesGlennview Townhouses Phase I.pubssg 114
  • 137.
    Gloria Robinson CourtHomes Phase III PROJECT SUMMARY PROPERTY MANAGEMENT Pennrose Management Company Regional Manager, Velma Gonzalez 344 Duncan Avenue, Jersey City, NJ 07306 Phone: (201) 332-4609 Fax: (201) 333-3908 YEAR COMPLETED 2012 DEVELOPER Pennrose Properties, LLC, Philadelphia, PA CONTRACTOR AJD Construction, Leonardo, NJ ARCHITECT Kitchen & Associates, Collingswood, NJ DEVELOPMENT PROFILE PHASE I Type #/Units #/HC Units Size 1 Bedroom Walkup 6 1 HC 800 SF 2 Bedroom Walkup 22 2 HC 1010 SF (AV.) 3 Bedroom Walkup 26 1 HC, 1 H&VI 1374 SF (AV.) 4 Bedroom Walkup 6 1 H&VI 1830 SF Total 60 4 HC, 2 H&VI Dwelling units: 60 Non-dwelling units: 0 Public Housing Units: 5 Tax Credit Units: 15 Market Rate Units: 6 Tax Credit/Project Based Section 8 Units: 15 Public Housing/Tax Credit Units: 19 Super’s Unit: 1 Number of buildings: 2 Number of stories: 3 & 4 Site size: 1.92 acres Amenities/Special Features: CONSTRUCTION TYPE Three and four story (slab on grade) wood frame construction with brick veneer and siding and flat roofs. DEVELOPMENT TYPE Mixed income rental apartments accommodating families. Updated 04/2014 X:JCHA Site SummariesGloria Robinson Court Homes Phase III.pubssg 115
  • 138.
    254 Bergen Avenue PROJECTSUMMARY PROPERTY MANAGEMENT Jersey City Housing Authority Asset Manager, Sammy Montanya 315 Randolph Avenue, Jersey City, NJ 07304-2843 Phone: (201) 706-4741 Fax: (201) 547-8993 PROJECT LOCATION 254 Bergen Avenue, Jersey City, NJ 07305-1639 YEAR ACQUIRED 1992 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 1 Bedroom Flat 5 1 HC 730 SF 2 Bedroom Flat 17 1 HC, 1 H&VI 950 SF (AV.) 3 Bedroom Flat 8 0 1267 SF 3 Bedroom Duplex 4 0 1400 SF (AV.) 4 Bedroom Duplex 2 0 1600 SF (AV.) Total 36 2 HC, 1 H&VI Dwelling units: 36 Non-dwelling units: 0 Number of buildings: 1 Number of stories: 5 Site Size: 0.27 acres Amenities/Special Features: Features include a Laundry Room (190 SF) and Meeting Room/Kitchen (1175 SF). CONSTRUCTION TYPE Five story masonry mid-rise building with brick veneer and a flat roof. DEVELOPMENT TYPE Affordable housing (elevator type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site Summaries254 Bergen Avenue.pubssg 116
  • 139.
    Arlington Gardens PROJECT SUMMARY PROPERTYMANAGEMENT Jersey City Housing Authority Asset Manager, Sammy Montanya 315 Randolph Avenue, Jersey City, NJ 07304-2843 Phone: (201) 706-4741 Fax: (201) 547-8993 YEAR ACQUIRED 1992 DEVELOPMENT PROFILE Type #/Units #/HC Units Size 2 Bedroom 90 0 775 SF (AV.) Total 90 0 Dwelling units: 90 Non-dwelling units: 0 Number of buildings: 5 Number of stories: 3 Site Size: 2.45 acres Amenities/Special Features: Features include a Manager’s Office (300 SF) and Maintenance Shop (200 SF). Site amenities include a play equipment area. CONSTRUCTION TYPE Three story (with basement/crawl space) masonry low-rise buildings with brick veneer and pitched shingle roofs. DEVELOPMENT TYPE Affordable housing (walkup type) rental apartments accommodating families. Updated 01/2014 X:JCHA Site SummariesArlington Gardens.pubssg117
  • 140.
    Year Full TimePart Time Total 2006 317 29 346 2007 226 19 245 2008 223 52 275 2009 224 28 252 2010 227 25 252 2011 213 19 232 2012 174 12 186 2013 172 13 185 2014 148 7 155 2015 147 5 152 Source: JCHA Payroll information as of March 31. Housing Authority of the City of Jersey City Employee Head Count 2006 - 2015 118
  • 141.
  • 142.
    Memorandum Date: December 2,2015 To: Samuel Moolayil From: Stephen Gauthier, Director/Technical Services Center Subject: CAFR Extension – Jersey City Housing Authority, New Jersey Your request for an extension in submitting the March 31, 2015 comprehensive annual financial report (CAFR) to the Certificate of Achievement for Excellence in Financial Reporting program has been approved. Because of the importance of timeliness to the quality of financial reporting, extensions of more than a few days beyond this additional extension are available only if extraordinary circumstances are causing the delay in the preparation of the CAFR. Please follow the instructions on the Certificate Program Participant Application for transmitting your information. Your submission must be sent (postmarked or e-mailed) to our office by December 31, 2015. Please be aware that the results of the review will be delayed because of the extension of the submission deadline. Further, and to again emphasize the importance of timeliness, the Special Review Executive Committee, which is responsible for overseeing the Certificate Program, has adopted a formal program policy that does not permit participants to receive an extension two years in a row for essentially the same reason. That is, your next CAFR will be eligible for an extension only if the circumstances delaying its timely submission are substantially different from those that required an extension this past year. Accordingly, please be sure to make whatever plans may be necessary to ensure that you will be able to submit your March 31, 2016 CAFR in time to meet the regular program deadline of six months following the close of the fiscal year. If you have any questions regarding this matter, or if we may be of any further assistance, please do not hesitate to contact us. Sincerely yours, GOVERNMENT FINANCE OFFICERS ASSOCIATION Stephen J. Gauthier Director/Technical Services Center SJG/ks Government Finance Officers Association 203 N. LaSalle Street, Suite 2700 Chicago, Illinois 60601-1210 312.977.9700 fax: 312.977.4806 119