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<br />Louisville Housing Authority <br />Financial Update - March 2010 <br /> <br />March 2010 - Year to Date <br />Louisville Housing Authority Financial Statements . <br /> <br />Total rental income is under budget by 2% or $2,364 for the period ending March 2010. Lilac was at <br />85% occupancy through March, but as of April 1 there are no vacant units in LHA properties. All other <br />projects are at or above their budgeted occupancy rate through March. <br /> <br />Total tenant charges are under budgeted amounts by 16% or $283. <br /> <br />Administrative expenses are 7% or $2,478 more budget. Current month expense of $2,100 for Admin <br />Contract costs is for a land survey at Acme to determine legal property line. <br /> <br />Total utility expenses are less than budget by 4% or $809. <br /> <br />Maintenance salary and contract expenses are over budget by 13% or $3,116. $4,558 of the current <br />month flooring expense is due to vinyl replacement in one unit at Hillside, which is partially funded out <br />of the HUD CFP Grant and will be shown ias grant revenue in April. <br /> <br />Maintenance Materials are under budget by $13% or $535. <br /> <br />See the attached schedule for Non-Routine Expense for the month. <br /> <br />General Operating Expenses are under budgeted amounts by 25% or $1,853. Current month Bad Debt <br />expense of $1 ,510 was turned over to collections. <br /> <br />4 <br />