Louisville Housing Authority Agenda and Packet 2011 12 13

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Lincoln Street Elderly Limited Partnership Financial Statements Rental income is exceeding budget by 2% or $3,405 the period ending October 2011. General income is over budget by $1,186. Total administrative expenses are 1% or $557 more than budget. Total utility expense is under budget by 23% or $7,559. Maintenance salary and contract expense are over budget by 3% or $690. Maintenance Materials is over budget by $2,642. See attached listing of non - routine maintenance through October. General expenses are $889 under budgeted expense to date. There were no bad debt write offs. East Street Limited Partnership Financial Statements Rental income is over budget by 1% or $987 for the period ending October 2011. There are 110 vacant units at this time. Other income is 80% or $4,784 less than budget. Total administrative expenses are over budget by $360. Total utility expenses are 2% or $263 less than budget. Maintenance salaries and contract expense are 40% or $6,622 more than budget to date. Labor is over budget by $8,009 due to the poor condition of four vacated units, and annual inspections at these units. Maintenance materials are $3,437 more than budget to date, also related to move -outs. There is no non - routine maintenance expense through October. General expenses are 35% or $4,824 less than budget year to date. 18