Louisville Housing Authority Agenda and Packet 2010 05 25

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Lincoln Street Elderly Limited Partnership Financial Statements Rental income is under budget by 1 % or $831 the period ending April 2010. General income is over budget by 14% or $43. Total administrative expenses are 4% or $955 less than budget. Total utility expense is over budget by 4% or $517. Maintenance salary and contract expense are under budget by 20% or $1,825. Maintenance Materials is over budget by 30% or $453. Current month expenses include replacement ofa dishwasher and a refrigerator as part of normal maintenance repairs. Please see attached listing of non-routine expense to date. General expenses are $2,180 under budget to date. There were,no bad debt write offs. East Street Limited Partnership Financial Statements Rental income is exceeding budget by 3% or $1,745 for the period ending April 2010. This is due to 97% occupancy for this period. The budgets are set at 95% occupancy. Other income is $9,191 more than budget. This is related to over $10,000 in tenant charges resulting from a fire and flood caused by the fire suppression system in one of the units. Total administrative expenses are over budget by 8% or $731. Total utility expenses are 16% or $842 less than budget. Maintenance salaries and contract expense are 26% or $1,703 over bUdget to date. Maintenance materials are 54% or $448 more than budget to date. Current month expenses relate to routine upgrades following an annual inspection. Please see attached listing of non-routine expense to date. These are offset by $9,113 in Insurance Recovery Proceeds. General expenses are 42% or $2,278 less than budget year to date. There were no bad debt writes' off in April. 11