The Department of Housing and Urban Development (HUD) has chosen to produce both an Agency Financial Report (AFR) and an Annual Performance Report (APR). HUD will include its Fiscal Year (FY) 2012 APR with its Congressional Budget Justification and will post it on the Department’s Web site at www.hud.gov when published.
This AFR provides financial and high level performance information to the President, the Congress, and the American people. The report allows readers to assess HUD’s performance relative to its mission, priority goals and objectives, and stewardship of public resources.
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Message From The Deputy Secretary, Maurice Jones
Message From The Deputy Chief Financial Officer, David P. Sidari
Message From The Director, Office Of Strategic Planning And Management, Lisa Danzig
HUD RECEIVES THE CEAR AWARD FOR ITS FY 2012 AGENCY FINANCIAL REPORT
FY 2012 marked the seventh year that HUD participated in the Certificate of Excellence in Accountability Reporting (CEAR) review program, sponsored by the Association of Government Accountants, and it is a tribute to all those involved in the annual reporting process that HUD has received this prestigious award for the seventh consecutive year.
During Fiscal Year (FY) 2012, the Department of Housing and Urban Development continued to meet its mission of creating strong, sustainable, inclusive communities and quality, affordable homes for all. This Agency Financial Report (AFR) describes HUD’s financial results for the fiscal year and performance results as of the third quarter in support of that mission.
In HUD’s Strategic Plan for FY 2010 – 2015, our mission is reflected in five strategic goals, as explained under the heading “Strategic Goals” in the early pages of this AFR. In FY 2012, we identified and designated five programmatic 2-year Agency Priority Goals associated with the Strategic Plan goals that are essential to achieving this mission. The corresponding measures and our results through June 30, 2012, are briefly described below.
Foreclosure Prevention: Through early delinquency intervention and loss mitigation programs, by the third quarter (June 30, 2012), HUD had already assisted 337,464 homeowners toward its annual goal of helping 350,000 homeowners avoid foreclosure.
Neighborhood Stabilization: To reduce vacancy rates in the neighborhoods hardest hit by the foreclosure crisis, the second round of Neighborhood Stabilization funding provided through the Recovery Act supports redevelopment of vacant homes and has successfully brought the vacancy rate below the rate in comparable neighborhoods nearly 78 percent of the time, exceeding HUD’s goal of exceeding that rate 70 percent of the time.
Affordable Housing: Through the end of the third quarter of FY 2012, HUD had served an additional 89,861 families through its affordable rental housing programs, exceeding its September 30, 2013, goal of serving an additional 61,000 families. These programs seek to preserve affordable rental housing for the more than 5.3 million families assisted.
Reduce Homelessness: HUD continues to make progress in reducing homelessness. In particular, in partnership with the Department of Veterans Affairs, HUD assisted 9,443 homeless Veterans in obtaining or maintaining permanent housing through the HUD-Veterans Affairs Supportive Housing program, exceeding its third quarter June 30, 2012, goal of 9,250 Veterans assisted. Additional program results toward this goal are reported annually and are not available for reporting at this time. Full year results will appear in the Annual Performance Report available in February 2013.
Sustainable Housing: With energy costs being a high portion of housing costs, including public and assisted housing, HUD completed energy retrofits for nearly 57,000 units toward its third quarter goal of upgrading 24,135 units. Progress for Energy Performance Contracts in public housing is reported annually, so annual results are not included in this figure.
HUD conducts top level meetings quarterly to track progress and anticipate challenges in achieving its Agency Priority Goals. These meetings, called HUDStat, are noted as a “best practice” throughout the federal and state government communities. Read more...