The Finance division supports all other divisions in the agency, allowing each to more efficiently achieve their individual mission, thus ensuring the cohesive operation of the agency overall.
The Boston Planning & Development Agency (BPDA) is the combined operating entity comprised of the Boston Redevelopment Authority (BRA), the Economic Development and Industrial Corporation (EDIC), and the Boston Industrial Development Finance Agency (BIDFA). There are also two associated 501(c)(3) entities: the Boston Local Development Corporation (BLDC) and Friend of Youth Opportunity Boston (FYOB).
The primary sources of revenue for the combined entity include rental/lease agreement payments and parking fees on BRA and EDIC owned properties, fee income on loans awarded through the BLDC, income generated from the sale of agency owned land and buildings, grant income, interest income, and income from investments.
The budgets for the BRA and EDIC are presented annually to the BPDA board for approval with each entity being approved separately. Additionally, each entity is audited annually with the BRA audit conducted by KPMG while the EDIC is audited by Daniel Dennis & Company.
Role at the Agency
The Finance division oversees, both separately and combined, the general accounting, budget, grants, procurement/purchasing, audit, cash and investments, tax filings, payroll, AP/AR, lease administration, general insurance, and fiscal operations for each entity.
The division’s functions are executed by a dedicated team of personnel who are highly skilled in the following areas: procurement, real estate, accounting, contracts, insurance, investments, treasury operations, loan origination, business operations analysis, and payroll and tax processes. The Accounting function is overseen by the Controller and the Budget/Procurement function is overseen by the Budget Director. The Controller and Budget Director report directly to the Director of Finance.
For more information, please contact Brian Connolly, Director of Finance. For information on loans issued through the BLDC, please visit bostonbusinessloans.org.