Finance & Administration
Learn more about the Accounting, Administration Services, Budget, Compliance, Contracts, HR, and MIS departments.
Accounting is the largest of the three departments that make up the Finance Division, along with Budget and Grants Management.
The Accounting Department manages the collection, transfer, investment, and disbursement of funds for NYCEDC and its related entities. It records financial transactions in various systems and then compiles and presents financial statements to Management, the Board of Directors, and other stakeholders in New York City and New York State.
- Process All Payments from NYCEDC and its Entities
- Issue Annual Financial Statements
- Manage NYCEDC’s Investment Portfolios
- Invoice Tenants and Process Incoming Payments
- Voucher Payments from the City
- Prepare Payroll
The Administrative Services Department is dedicated to the people and the purpose of NYCEDC. We maintain the company’s office operations by handling the daily needs of its staff as we strive for approachability and delivery of excellent customer service. We encourage you to ask us for assistance.
Please visit the Administrative Services Center or submit an EDCis request form for help with mailing, printing, copying, supplies, maintenance, transportation, safety, office reconfiguration, work orders, subscriptions/memberships, or any problem you might have. We will do our part to find a solution for you.
- Mail, Print, and Office Supply Solutions
- Equipment Maintenance
- Optimizing Office Space
- Workplace Safety and Security
- Vehicle Fleet Management
- Business Continuity
VP, Administration Services
Budget is one of three departments that make up the Finance Division along with Accounting and Grants Management.
Working with the Budget Department is the critical first step for identifying and allocating funds for all NYCEDC projects. We partner with other City agencies to lead the way in financial planning, analysis and accountability.
- Identify Project Funding
- Secure Funding for NYCEDC projects though collaboration with City Agencies
- Register Funds with the City
- Assist Development of Operational and Project-related Budgets for NYCEDC Departments
- Monitor Financial Results for Impacts to Established Budgets
The Compliance Department is responsible for the management, reporting, and oversight of a portfolio consisting of NYCIDA and Build NYC post-closing transactions, NYCEDC land sales, and NYCEDC loan and guarantee programs.
In addition, Compliance works with a team of various NYCEDC departments, the portfolio’s project companies, and consultants to ensure ongoing compliance with project documents as required under State and Local laws for disclosure in public reports and benefits summaries. Preparation of these reports and summaries are a critical function of the Department and are ultimately subject to review by the City Council, the State Comptroller, and the State Authority Budget Office.
Responsibilities Include the Coordination of the Following:
- Contract requirements
- Lease covenants
- Construction milestones
- Requests for delinquent payments
- Benefits recapture
NYCEDC Contracts department ensures the timely, fair, diverse and efficient acquisition of goods and services for projects that drive growth, create jobs, and improve the quality of life in New York City. Contracts also ensure that every initiative in which NYCEDC is involved reflects the city’s values of fairness, growth, transparency, and equal opportunity.
- Responsibility Determination Compliance
- Contract Administration
The Grants Management Department helps NYCEDC obtain and manage outside project funding from Federal, State, and other non-City sources.
- Identify Grant Funding
- Verify that Projects are Grant Compliant
- Submit Reimbursement Requests to the City
- Recording Transactions in the City’s Accounting System
The Human Resources Department aims to provide superior service to employees and managers in the areas of recruiting, employee relations, performance management, training, compensation and benefits in order to increase the effectiveness of the organization.
Our mission is to treat each employee as a valued asset while supporting the principles, values, vision and mission of NYCEDC. We strive to promote services that promote a work environment that is characterized by fair treatment of staff, open communications, personal accountability, trust, and mutual respect.
- Organizational Development
- Performance Management
- Training and Development
SVP, Human Resources
Management of Information Systems (MIS)
- Evaluate new technologies, and analyze the feasibility of implementing new systems.
- Analyze information to identify areas of process improvements for increasing efficiency and effectiveness.
- Provide support and maintenance for existing management information systems.
- Provide recommendations to update current systems to improve reporting efficiency and consistency.
- Provide strong reporting and analytical information support to management team.
- Participate in cross-functional meetings to offer technical alternatives.
- Develop information systems for organizational needs.
- Geographical Information.
- Multimedia Support.
- Provide support and assistance in troubleshooting technical issues.
- Centralize purchasing of computer hardware and software for all departments.