Louisville Housing Authority Agenda and Packet 2012 05 29

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Louisville Housing Authority LHA - MONTHLY FINANCIALS April, 2012 LHA Utilization In April Average Occupancy for LHA was 98% including Lincoln & East Street Revenue April Operating revenues of $49,145 are $5,811 more than budget YTD Operating income of $172,323 are within 1% of budget Expenses April Total Operating expenses of $31,767 are $(2,426) below budget YTD Operating expenses of $114,882 are $(21,890) or 16% below budget Before Non - operating revenues and depreciation: Net Operating Income (Loss) of $17,378 is $8,236 greater than budget YTD Net Income (Loss) of $57,440 is $20,874 greater than budget In April there is a significant YTD variance in the Audit Fees of $8,156, but the total annual budget is $9,632 and is spread across 12 months so at year end this variance should be closer to $2,000 above budget Additionally, maintenance expenses are trending 52% below budget due to timing of the maintenance contracts and lower allocation of salary expense Lincoln Street Elderly Limited Partnership Revenue April Total Operating income of $22,154 is $1,016 greater than budget YTD Total Operating income of $96,994 is $12,440 greater than budget due to other income from the Town of Louisville designated for capital projects Expenses April Total Operating expenses of $17,718 are $(1,335) less than budget YTD Total Operating expenses of $66,929 are $(9,283) below budget Before Non - operating revenues and depreciation: Total Income (Loss) was $4,437 or $2,351 greater than budget YTD Net Income (Loss) was $30,065 or $21,73 greater budget East Street Limited Partnership Revenue April Total Operating income of $17,200 is $1,652 greater than budget YTD Total Operating income of $63,028 was $839 and within 1% of budget Expenses April Total Operating expenses of $14,285 are $656 greater than budget YTD Total Operating expenses of $65,310 are $10,794 or 20% greater than budget Utilities, and maintenance expenses are contributing to this YTD variance Non routine maintenance expenses are $3,822 YTD Before Non - operating revenues and depreciation: In April Total Income (Loss) was $2,915) or $997 above budget YTD Net Income (Loss) was $(2,282) or $(9,555) below budget