Louisville Housing Authority Agenda and Packet 2013 02 26

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e . r ~ . y ' ' Overview This financial report is year- to-date through Qecember 31, 2012 for Assets, Liabilities and Fund Balance and the monthly operating revenues and expenses far December. Within LHA there is one component unit (CUj; a blended presentation entity, Sunnyside a.k.a East Street Limited Partnership. In June 2Q12, Lydia Morgan, a component unit of LHA, was dissolved into LHA, leaving one remaining component unit to report financial activity. A separate monthly financial report for November 2012 is attached. ~• Cash and cash equivalents, unrestricted and restricted, totaled $602,900 and male up most of the Current Assets of $690,695. Fixed AsseYS total $1.7M Tata) Liabilities total $273,232 and the current portion is $28,722. Total Equity is $2.2M and includes Net Income loss of ($1.1M) due to donation of real property in 2012. Operations: In December, income from Rents and Tenant Fees totaled $35,400 and year-to-date $614,100, both amounts track to budget. Against these revenues were expenses for Administration $11,9Q0 and year-to-date $227,500; Utilities $6,400 and year-ta-date $85,100 and Maintenance including contract, materials and non-routine expense $11,132 and year-to-date $111,600. Administrative expense, year-to-date actual to budget is $42,400 aver budget, primarily due to legal /professional services and audit fees. These three combined operations total year-to-date expense of $424,20p, compared to year-to-date budget of $441,200, indicating 4%under budget at year end. General expense, including insurance, $2,800 and year-to-date $37,2Q0, also tracked to budget for the period and year-to-dake. Net Operating Income was $3,185 and year-to-date $157,700. Total Year-to-date Net Bncome after non-operating revenues and expenses was ($1,049,882). This ending year balance is due primarily to depreciation expense $104,640 and Donation of Read Property Tra nsfe r fo r $1,105,400.