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Donation of real property is shown as anon-operating expense in the amount of $244,141. This is the
<br />primary factor for an April Net loss of ($248,581) and will show in the year-to-date balance going
<br />forward.
<br />Summary:
<br />The current operations, including maintenance and program support, coupled with the transfer of
<br />property assets to BCHA, continue to solidify the mutual commitment between LHA and BCHA to
<br />provide outstanding affordable housing to clients in Louisville. Through these transactions and
<br />efficiencies in consolidating, funds have been set aside for properties in Louisville as part of a continued
<br />rehab plan.
<br />TABLE 1
<br />Change: Change:Change:
<br />LHA (Hillside)Jan-13 13-Feb 13-Mar 13-Apr Jan Feb Feb Mar Mar Apr
<br />CURRENT ASSETS
<br />Cash and Cash Equivalents
<br />Unrestricted Cash and Investments 159,666 160,080 166,333 132,691 414 6,253 (33,642)
<br />Restricted Cash- Other 427,760 427,799 427,839 375,978 39 40 (51,861)
<br />Total Cash and Cash Equivalents 587,426 587,879 594,172 508,669 453 6,293 (85,503)
<br />Accounts Receivable 12,691 13,788 15,881 12,052 1,097 2,093 (3,829)
<br />Accrued Interest Receivable 70,514 70,514 70,514 70,514 - --
<br />Total AR 83,205 84,302 86,395 82,566 1,097 2,093 (3,829)
<br />Prepaid Insurance ---5,000 - -5,000
<br />Total Prepaid Expense ---5,000 - -5,000
<br />Due from Other Entities 14,381 14,741 14,741 14,741 360 --
<br />Total Current Assets 685,012 686,922 695,308 610,976 1,910 8,386 (84,332)
<br />NON CURRENT ASSETS
<br />Fixed Assets
<br />Property and Equipment 1,697,921 1,697,921 1,697,921 935,324 - -(762,597)
<br />Less Accum. Depreciation/
<br />Amortization (993,923)(998,077)(1,001,793)(465,341)(4,154) (3,716)536,452
<br />Land 277,534 277;534 277,534 173,739 - -(103,795)
<br />Investment in Partnership 322,582 322,582 322,582 322,582 - --
<br />Notes receivable 445,077 445,077 445,077 445,077 - --
<br />Net General Fixed Assets 1,749,191 1,745,037 1,741,321 1,411,381 (4,154) (3,716)(329,940)
<br />TOTAL ASSETS 2,434,203 2,431,959 2,436,629 2,022,357 (2,244) 4,670 (414,272)
<br />LIABILITIES
<br />Notes and mortgages payable 243,731 242,898 242,898 84,188 (833) -(158,710)
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