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Q&A
Property emergency allocation and budget management at NYCHA
1:46:31
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158 sec
Council Member Avilés inquires about NYCHA's property emergency allocation and budget management processes. NYCHA's Chief Financial Officer explains the various funding sources and mechanisms for addressing emergencies across the portfolio.
- Each development has an operating budget, but it's often insufficient for major emergencies
- NYCHA maintains a property emergency bank for quick responses to urgent issues
- Multiple pools of contingency funding exist for different scales of emergencies
- The finance team can respond to emergency funding requests within 24-48 hours
- NYCHA also has a centrally managed emergency services department
Alexa Avilés
1:46:31
And then to this notion of property emergency allocation, obviously you stated it's portfolio wide to give you flexibility to respond, how you respond to all manner of very important emergencies for every development, I do not know.
1:46:47
But is there an allocation, let's say, for Red Hook in terms of capital repairs on how they can manage the property?
1:46:59
And there might be tiers of this.
1:47:00
There might be utter emergency, cataclysmic, and it might be a slightly smaller emergency, but does the development have a pool of resources that it is able to be somewhat responsive to in a in a quick time frame?
1:47:16
Sure.
Annika Lescott-Martinez
1:47:17
So to start, each development has an operating budget.
1:47:21
What we have found though is when there are emergencies of that kind, the property manager doesn't have sufficient resources to respond, otherwise that would decimate the entire annual budget.
1:47:32
So that's where we go to the property emergency bank which we use across the entire portfolio.
1:47:38
We add additional funding where we can so if we get a new grant and we find that we've gotten additional funding for the federal government we'll put more in that line.
1:47:45
For example that's also where we'd work with Sean to say hey Sean what do you have in ANCM for that property?
1:47:52
Do you have money in your sort of contingency?
1:47:54
So because frankly we have so many emergencies we have sort of pools of contingency funding.
1:48:01
The funding that you see there is actually what finance manages for things like a gas outage, a water main break so that we can be responsive.
1:48:08
If I get a budget modification requesting additional funding for that kind of emergency from respond within twenty four to forty eight hours.
1:48:17
If it's sort of a larger scale emergency that requires planning and months of work that's where we would you know talk to Sean and his team on the ANCM contingency.
1:48:26
So that money is really just there that a property manager isn't waiting for weeks because they feel like if they were to use the funding in their budget they wouldn't have anything left for the rest of the year.
1:48:36
So it's really just a ways for us to be responsive quickly.
1:48:41
We also have emergency funding and an emergency department, emergency services department which is funded on the operating budget and managed centrally by Eva's team.
1:48:50
So because there are so many emergencies we find that we need to be really nimble and flexible and sort of provide the resources as quickly as we can through any manner.
1:49:00
So if it's really quick, it would come from that emergency pot.
1:49:04
If it's something that requires more planning, that's where we talk to the ANCM team run by Mr.
1:49:09
Mavani.