Louisville Housing Authority Agenda and Packet 2010 08 31

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Louisville Housing Authority Financial Update July 2010 July 2010 Year to Date Louisville Housing Authority Financial Statements Total rental income is over budget by 1% or $4,243 for the period ending July 2010. Lilac was at 90% occupancy through May, but since May there are no vacant units at this site. All other projects are at or above their budgeted occupancy rate through July. Total tenant charges are over budgeted amounts by 41% or $1,664. Current month Work Order Charges relate to expenses incurred with move -outs. Administrative expenses are 5% or $4,024 more budget. Year -to -date expense of $2,100 for Admin Contract costs is for a land survey at Acme to determine legal property line. Current month legal expense includes $514.00 related to evictions and $975.00 for the sale of land to Habitat for Humanity. Total utility expenses are less than budget by 16% or $6,945, mainly in water at Regal Square. Maintenance salary and contract expenses are under budget by 17% or $9,371. Maintenance Materials are under budget by $19% or $1,844. See the attached schedule for $31,040 in Non Routine Expense for the year. General Operating Expenses are under budgeted amounts by 31% or $5,402. Current month bad debt expense of $1,054 has been turned over to collections. 6