|
Louisville Housing Authority
<br />Management's Discussion and Analysis
<br />December 31, 2013
<br />Operating Expenses
<br />Administrative 135,885 (135,885)
<br />Maintenance and operations - 66,424 (66,424)
<br />Depreciation and amortization - 45,159 (45,159)
<br />Utilities 47,837 (47,837)
<br />Insurance - 13,105 (13,105)
<br />Payment in lieu of taxes - 2,651 (2,651)
<br />Total operation expenses - 311,061 (311,061)
<br />Operating Income (Loss) - 5,718 (5,718)
<br />Non - Operating Revenues (Expenses)
<br />Interest income - 6,364 (6,364)
<br />Interest expense - (9,201) 9,201
<br />Total Non - Operating Revenues (Expenses) - (2,837) 2,837
<br />Change I Net Position before capital contributions
<br />Capital fund grant revenue
<br />Change in Net Position
<br />2,881 (2,881)
<br />35,163 (35,163)
<br />38,044 (38,044)
<br />Net Position Beginning of Year, as originally
<br />reported 2,168,762 3,281,526 (1,112,764)
<br />Adjustment for change in reporting Unit - (61,204) 61,204
<br />Merger with BCHA - Note 7 (2,168,762) (1,089,604) (1,079,158)
<br />Net Position - End of Year $ - $ 2,168,762 $(2,168,762)
<br />East Street Limited Partnership LLC — Component Unit
<br />As the final three LHA properties were transferred to BCHA in 2013, the fmancial statements for 2013 show no
<br />operating revenues or expenses for 2013. This reporting adjustment follows GASB Statement # 69 which defines
<br />the merger date for transfer of assets as the beginning of the reporting period (January 1) regardless of the actual
<br />transfer date.
<br />Statement of Net Position - LHA Component Unit - East Street Limited Partnership LLC
<br />(ESLP)
<br />Operating Revenues
<br />Rental and rental subsidy
<br />Tenant charges
<br />Other
<br />Total operating revenues
<br />2013 -ESLP 2012 - ESLP
<br />Component Unit Component Unit
<br />Change
<br />$185,847 $(185,847)
<br />3,955 (3,955)
<br />119 (119)
<br />189,921 (189,921)
<br />20
<br />10
<br />
|