Louisville Housing Authority Agenda and Packet 2009 09 29

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Louisville Housing Authority Financial Update - August 2009 August 2009 - Year to Date Louisville Housing Authority Financial Statements Total rental income is over budget by 3% or $8,811 for the period ending August 2009, All projects are at or above their budgeted occupancy rate, Total tenant charges are above budgeted amounts by 3% or $138. Administrative expenses are 3% or $3,059 less than budget. Total utility expenses are less than budget by 11 % or $5,394, The largest savings to date is $1,830 in Electricity, Maintenance salary and contract expenses are under budget by 37% or $25,838. These savings are due in part to low turnovers to date, Maintenance Materials are under budget by 39% or $4,318 also because of low turnovers. See attached listing Non-Routine Expense, General Operating Expenses are under budgeted amounts by 27% or $4,991, The largest savings is $5,620 in Bad Debt Expense, Interest Income is under the budgeted amount by $6,118 or 56%, Interest was set at 1 % and the current yield is .28%, HUD Capital Fund Grant Revenue was of $24,651 was spent on window replacement at Hillside, Interest Expense is under blldget by less than 1 % or $181, Capitalized rehab expenses not reflected in the operating statement includes $14,266 for the solar system at Acme.