Finance

Richard Stephenson
Chief Financial Officer
Direct: 412.402.2443
Fax: 412.355.0843

Patrick Blackwell
Assistant Director of Finance
Direct: 412.402.2607
Fax: 412.355.0843

The Finance Department is an Administrative Service Department that usually does not directly interact with residents. All services in the department are organized to service other ACHA departments. Theses Service are:

Revenue Generation: Working with other ACHA Departments (mainly Executive, Legal & Development) identifies outside funding sources that will help us accomplish our mission. ACHA has mainly been successful in the Housing Development & Rehabilitation area.

Budgeting: Produce the Conventional Program Operating Budget adopted by the Authority Board every year. A Budget is a Financial Plan estimating your Revenue & Expenses for the next Fiscal year.

Financial Management: Work in cooperation with other ACHA Departments, (especially Executive & Finance) to make sound Financial decisions. In other words, make sure the costs not exceed the receipts.

Accounting: To present financial statements in conformity with general accepted accounting principles (GAAP) applicable to governmental units. The ACHA is considered to be an Enterprise Fund and uses the accrual basis of accounting, so revenues are reconized when earned and expenses are recognized when incurred. The Authority is subject to the regulations of HUD. These regulations prescribe Accounting policies and practices that, in some cases, differ from generally accepted Accounting principles. The Authority uses the direct charge-off method of recording uncollectible accounts.

Investments: The Authority's investments are stated at cost, which approximates net realizable value. Accounting monitors these Authority Funds:

Conventional Low-Income Hosuing Program: Represents housing units that are owned and operated by the Authority under the Conventional Low-Income Public Housing Program of the U.S. Department of Housing and Urban Development (HUD).
Housing Choice Voucher Program: Represents Section 8 Certificate and Voucher Housing Assistance Payment Programs that are administered by the Authority.
Moderate Rehabilitation: Represents Housing Assistance Payments administered by the Authority under the Section 8 Moderate Rehabilitation Program.
New Construction: Represents Housing Assistance Payments administered by the Authority under the Section 8 New Construction Program. The following properties have September 30 year-end contract with HUD: Homestead (#29-2); Princeton (#29-11) Marigold (#34-6); Swissvale (#34-7); Grayson (#34-28); and Harrison (#11-03); Leetsdale (#26-1); Princeton (#29-11); Crafton (#M-283); Marigold (34-6); Verona (#39-39); Grayson (#34-28); Crafton (M-196); Homestead (#29-2); and Coraopolis (39-3).
Other Programs: Other programs operated by the Authority include:

• Housing and Development Assistance Program Housing and Development Assistance Program Grant from the Commonwealth of Pennsylvania Department of Community and Economic Development;
• Memorandum of Agreement Grant from HUD;
• Drug Elimination Program grant from HUD;
• Community Development Block Grants, which are HUD funds, passed through the County;
• Hays Manor Associates, Inc.
• Caldwell Station Escrow
• Lavender Heights
• Meyers Ridge
• Monroe Meadows
• Hope VI various sites; Homestead Apartments and Groveton Village;
• Special Projects, which represent grants and contributions from private sources.

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