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<br />Louisville Housing Authority <br />Financial Update - October 2009 <br /> <br />October 2009 - Year to Date <br />Louisville Housing Authority Financial Statements <br /> <br />Total rental income is over budget by 3% or $10,730 for the period ending October 2009. All projects are <br />at or above their budgeted occupancy rate. <br /> <br />Total tenant charges are above budgeted amounts by 43% or $2,395. Current month income relates to <br />move-out charges at Hillside, Lilac and Regal Two. <br /> <br />Administrative expenses are 1 % or $1,281 less than budget. <br /> <br />Total utility expenses are less than budget by 11 % or $6,951. The largest savings are in Water and Gas. <br /> <br />Maintenance salary and contract expenses are under budget by 18% or $15,839. These savings are due in <br />part to low turnovers to date. <br /> <br />Maintenance Materials are under budget by 9% or $1,185 also because of low turnovers. <br /> <br />See attached listing Non-Routine Expense. <br /> <br />General Operating Expenses are under budgeted amounts by 26% or $5,900. The largest savings is <br />$6,657 in Bad Debt Expense. <br /> <br />Interest Income is under the budgeted amount by $754 or 6%. Interest was set at 1 % and the current <br />yield is .20%. <br /> <br />Interest Expense is under budget by less than 1 % or $338. <br /> <br />Capitalized rehab expenses not reflected in the operating statement includes $14,266 for the solar system <br />at Acme. <br /> <br />Lincoln Street Elderly Limited Partnership Financial Statements <br />