Louisville Housing Authority Agenda and Packet 2010 02 23

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Lincoln Street Elderly Limited Partnership Financial Statements Rental income is exceeding budget by I % or $119 the period ending January 2010 due to 99% occupancy, The budget is set at 97% occupancy, General income is under budget by 71 % or $213, Interest income was over budgeted and a resolution to modifY is in this month's packet. Total administrative expenses are 22% or $1,259 less than budget. Total utility expense is over budget by 4% or $133, Maintenance salary and contract expense are under budget by 26% or $582. Maintenance Materials is under budget by 58% or $248. There is no non-routine maintenance expense in January. General expenses $380 under budgeted expense to date. There were no bad debt write offs, East Street Limited Partnership Financial Statements' Rental income is exceeding budget by 4% or $565 for the period ending January 2010. This is due to 99% occupancy for this period, The budgets are set at 95% occupancy, Total interest income is $117 less than budget. Interest income was over budgeted and a resolution to modify is in this month's packet. Other income is 86% or $337 less than budget. Total administrative expenses are under budget by 1 % or $12, Total utility expenses are 29% or $387 less than budget. Maintenance salaries and contract expense are 44% or $724 less than budget to date. Maintenance materials are 70% or $144 less than budget to date. There is no non-routine maintenance expense in January, General expenses are 42% or $570 less than budget year to date, There were no bad debt writes off in January, Interest expense is 2% or $170 more than the budgeted amount. Interest expense will decrease each month per amortization ofthe loan. 4