Louisville Housing Authority Agenda and Packet 2012 06 26

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Louisville Housing Authority LHA - MONTHLY FINANCIALS May, 2012 LHA Utilization In May Average Occupancy for LHA was 98% including Lincoln & East Street Revenue May Operating revenues of $43,511 are $506 greater than budget YTD Operating income of $214,340 are $(669) less than budget Expenses May Total Operating expenses of $29,936 are $(4,257) less than budget YTD Operating expenses of $144,818 are $(26,146) below budget Before Non - operating revenues and depreciation: Net Operating Income (Loss) of $13,756 is $4,614 greater than budget YTD Net Income (Loss) of $71,196 is $25,488 greater than budget In May there is a significant YTD variance in the Audit Fees of $10,195, 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 continue to trend below budget $18,000 relates to salaries and benefits and $12,750 to Maintenance contracts for flooring and Lawn /Landscaping Lincoln Street Elderly Limited Partnership Revenue May Total Operating income of $20,672 is $(467) less than budget YTD Total Operating income of $117,666 is $11,973 greater than budget due to other income from the Town of Louisville of $13,387 designated for capital projects Expenses May Total Operating expenses of $15,656 are $(2,144) less than budget YTD Total Operating expenses of $82,585 are $(6,415) less than budget Both Electricity and Contract Maintenance contributed to the overall reduction in expenses Before Non - operating revenues and depreciation: Total Income (Loss) was $5,016 or $1,677 greater than budget YTD Net Income (Loss) was $35,081 or $18,388 greater budget East Street Limited Partnership Revenue May Total Operating income of $15,307 is $(242)less than budget YTD Total Operating income of $78,333 is $597 and within 1% of budget Expenses May Total Operating expenses of $12,167 are $(1,462) less than budget YTD Total Operating expenses of $77,477 are $9,332 greater than budget Utilities, and maintenance expenses continue to contribute to this YTD variance Non routine maintenance expenses are $3,822 YTD Before Non - operating revenues and depreciation: In May Total Income (Loss) was $3,138 or $1,220 above budget YTD Net Income (Loss) was $856 or $(8,735) below budget 7