Louisville Housing Authority Agenda and Packet 2011 06 28

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Lincoln Street Elderly Limited Partnership Financial Statements Rental income is exceeding budget by 2% or $2,503 the period ending May 2011. General income is over budget by $533. Total administrative expenses are 18% or $5,794 less than budget. Total utility expense is under budget by 36% or $6,034. Maintenance salary and contract expense are under budget by 28% or $3,465. Maintenance Materials is over budget by $777. See attached listing of non routine maintenance through May. General expenses are $392 under budgeted expense to date. There were no bad debt write offs. East Street Limited Partnership Financial Statements Rental income is under budget by 2% or $1,357 for the period ending May 2011. There is currently one vacant unit at this site. Other income is 77% or $2,270 less than budget. Total administrative expenses are over budget by $435. Total utility expenses are 14% or $822 less than budget. Maintenance salaries and contract expense are 72% or $5,912 more than budget to date. Labor is over budget by $5,285 due to the poor condition of four vacated units, and annual inspections at these units. Maintenance materials are $2,541 more than budget to date, also related to move -outs. There is no non routine maintenance expense through May. General expenses are 44% or $2,977 less than budget year to date. 6