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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 residents of Louisville. Through these transactions and <br />efficiencies in consolidating, funds have been set aside for properties in Louisville as part of a continued <br />rehabiltation plan. <br />SUNNYSIDE I EAST STREET FINANCIAL STATEMENTS <br />Overview <br />Sunnyside aka East Street Limited Partnership has 17 units and an occupancy rate of 99.2% through <br />June. This is a component unit (CU) of Louisville Housing Authority and reports its own balance sheet <br />and monthly operating statements. There were no significant or material financial changes in balance <br />sheet accounts through June and total net income or (loss) reflects a year-to-date loss of ($20,131) due <br />primarily to expense over revenues totaling $10,800 and non-operating noncash depreciation expense <br />year-to-date of $9,329. <br />Operations: <br />There are no significant or materials changes month over month for expenses through June in the <br />income statements. Total year to date Net Operating Income or (loss) was ($20,131) in June compared <br />to ($24,796) in May. <br />Appendix: Journal Entries between September and October for LHA asset transfers, reported at <br />November 2012 board meeting. <br />LOUISVILLE HOUSING AUTHORITY (LHA) BOARD <br />FINANCIAL REPORT - NOVEMBER 2012 <br />Overview <br />This financial report is year- to- date through November 30, 2012 for Assets, Liabilities and Fund Balance <br />and the monthly operating revenues and expenses for November. Within LHA there is one component <br />unit (CU); a blended presentation entity, Sunnyside a.k.a. East Street Limited Partnership. <br />In June 2012, Lydia Morgan, a component unit ofLHA, was dissolved into LHA, leaving one remaining <br />component unit to report financial activity. In October, property assets were transferred from LHA to <br />Boulder County Housing Authority (BCHA) that included Acme Place; Lilac Place; Lydia Morgan and Regal <br />Court II. LHA will no longer be charged a management fee for these properties and the security deposit <br />liability amounts related to each property were also transferred with the properties. The following <br />journal transactions changed the LHA balance sheet, current assets, non-current assets, non-current <br />liabilities and net income: <br />17