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Louisville Housing Authority <br />Financial Update October 2010 <br />October 2010 Year to Date <br />Louisville Housing Authority Financial Statements <br />Total rental income is over budget by 4% or $16,425 for the period ending October 2010. Lilac was at <br />90% occupancy through May. All other projects are at or above their budgeted occupancy rate through <br />October. <br />Total tenant charges are over budgeted amounts by 46% or $2,650. <br />Administrative expenses are 4% or $4,245 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 10% or $6,237. This is primarily in Gas at Acme and <br />Regal Square. <br />Maintenance salary and contract expenses are under budget by 18% or $14,623. <br />Maintenance Materials are under budget by $16% or $2,181. <br />See the attached schedule for $102,264 in Non Routine Expense for the year. <br />Lilac will be completed before year -end. <br />General Operating Expenses are under budgeted amounts by 22% or $5,582. <br />expense of $1,274 has been turned over to collections. <br />1 <br />Replacement of flooring at <br />Current month bad debt <br />