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CHFA committee recommends preparations for 2025 Series I bond sale, reviews 2024 audit and March financials
Summary
The CHFA Finance/Audit Committee on April 24, 2025, unanimously recommended that the Board consider authorizing staff to begin preparations for the 2025 Series I bond sale and reviewed the Authority's 2024 audited financial statements and March 2025 operational and investment reports.
Deputy Treasurer Sarah Sanders called the Connecticut Housing Finance Authority Finance/Audit Committee to order at 9:01 a.m. April 24, 2025, and confirmed a quorum of members present.
Hazim Taib, CHFA chief financial officer, presented a resolution authorizing staff to commence necessary preparations for the 2025 Series I bond sale for the CHFA Housing Mortgage Finance Program. Catherine MacKinnon moved to recommend the resolution to the CHFA Board of Directors; Philip DeFronzo seconded. The committee voted unanimously to forward the recommendation to the Board for consideration.
Taib then introduced representatives from audit firm Whittlesey. Thomas Goldfuss presented a summary of CHFA's 2024 audit results, and Katrina Olson provided an overview of significant audit areas. The minutes note a technical update on GASB accounting standards was provided; the document does not specify line-item findings or numerical audit conclusions.
Allison Murphy, CHFA controller, presented the Authority's financial reports for March 2025. John Chilson presented March production and delinquency reports for CHFA's single-family and multifamily programs. Ningyan Li presented the quarterly investment and interest rate swap reports. The minutes record that discussion followed these presentations but do not include detailed figures or actions tied to the reports.
Deputy Treasurer Sanders asked for a motion to approve the minutes of the March 27, 2025 Finance/Audit Committee meeting. Jerry Abrahams moved to approve the minutes; Catherine MacKinnon seconded, and the committee approved the March 27 minutes. With no further business, the committee adjourned by unanimous consent at 9:43 a.m.
The committee's recommendation on the Series I bond sale will be considered by the CHFA Board of Directors; the minutes do not record a Board decision.
