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Louisville Housing Authority <br />Financial Update August 2010 <br />August 2010 Year to Date <br />Louisville Housing Authority Financial Statements <br />Total rental income is over budget by 3% or $9,353 for the period ending August 2010. Lilac was at 90% <br />occupancy through May, but since May there are no vacant units at this site. All other projects are at or <br />above their budgeted occupancy rate through August. <br />Total tenant charges are over budgeted amounts by 57% or $2,662. Current month Work Order Charges <br />relate to expenses incurred with move -outs. <br />Administrative expenses are 4% or $3,754 more than budget. Bank fees were not included as a budgeted <br />line item. Year -to -date expense of $2,100 for Admin Contract costs is for a land survey at Acme to <br />determine legal property line. Year -to -date legal expense includes $514.00 related to evictions and <br />$975.00 for the sale of land to Habitat for Humanity. <br />Total utility expenses are less than budget by 18% or $9,001, mainly in water at Regal Square. <br />Maintenance salary and contract expenses are under budget by 14% or $8,834. <br />Maintenance Materials are under budget by $12% or $1,330. <br />See the attached schedule for $38,340 in Non Routine Expense for the year. <br />Lilac will be completed before year -end. <br />General Operating Expenses are under budgeted amounts by 32% or $6,337. <br />expense in the current month. <br />1 <br />Replacement of flooring at <br />There is no bad debt <br />