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Accounts payable 536 4,521 1,219 1,285 3,985 (3,302)66
<br />other accrued liabilities 485 485 485 485 ---
<br />tenant security deposits 12,540 12,524 12,524 3,674 (16)-(8,850)
<br />Due to other governments 9,628 7,847 7,684 5,657 (1,781)(163)(2,027)
<br />Payment in lieu of taxes 294 294 294 1,170 --876
<br />Total Liabilities 267,214 268,569 265,104 96,459 1,355 (3,465)(168,645)
<br />EQUITY
<br />Development fee payable 2,231,645 2,231,645 2,231,645 2,231,645 ---
<br />Partner Capital 9,4959,495 9,495 9,495 ---
<br />Syndication Costs (70,699)(70,699)(70,699)(70,699)---
<br />Net income (loss)(3,452)(7,051)1,084 (244,543)(3,599)8,135(245,627)
<br />Total equity 2,166,989 2,163,390 2,171,525 1,925,898 (3,599)8,135 (245,627)
<br />TOTAL LIABILITIES AND EQUITY 2,434,203 2,431,959 2,436,629 2,022,357 (2,244) 4,670 (414,272)
<br />SUNNYSIDE /EAST STREET FINANCIAL STATEMENTS
<br />Overview
<br />Sunnyside aka East Street Limited Partnership is a component unit (CU) of Louisville Housing Authority
<br />and reports its own balance sheet and monthly operating statements. There were no significant or
<br />materials changes in balance sheet accounts and total net income or (loss) reflects year-to-date loss of
<br />$27,492.
<br />Operations:
<br />There are no significant or materials changes month over month for actual expenses January to April in
<br />the income statements. Total Operating Income or (loss) was ($448) and Net Income or (Loss) after
<br />depreciation was ($9,778). Depreciation totals $9,329. The 2013 budget for Sunnyside anticipated that
<br />this property was scheduled to transfer in April and no budget was developed past March. The existing
<br />budget has been distributed through the remaining year which is understating budget to actual
<br />comparisons only for the month April. The anticipated transfer date for this property is July 2013.
<br />2012 LHA FINANCIAL AUDIT UPDATE
<br />This year the LHA financial audit was planned properly and organized for our auditors to work
<br />effectively. Eide Bailley LLC conducted their audit and completed field work on March 29t"and
<br />continued to analyze both our financial statements and internal control through April 12th. The audit is
<br />completed and LHA financial statements are in senior partner review. As of this date, there are no
<br />adverse, significant or material findings that will be reported. Currently, input from leadership, program
<br />staff and final review of financial statement foots notes are converging in the completion of the
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