This page was read by OCR. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
electric, water, sanitation costs, and stormwater fees. HRSD costs have continued to
increase annually.
This year, total maintenance expenditures are budgeted to increase by $68,306 to
$1,741,930. We have experienced increased costs for our HVAC, electrical and
plumbing/gas contractors while addressing property maintenance and repairs, even
with the removal of Orcutt Townhomes and 88 Marshall Courts units from the public
housing inventory, overall expenses have increased slightly.
The budgeted insurance line items have increased 8.7%, mostly due to overall market
conditions. We had previously increased property and auto insurance costs, acquiring
additional coverage for Property Manager Error and Omissions and Umbrella Insurance
policies. We contract with an insurance broker to review all of policies to secure better
pricing, ensure accurate information and that the Authority and employees are
adequately insured.
Our General Expense includes such items as our Payment-in-lieu-of-taxes (PILOT) and
collection losses (2% of rents) which are both a function of total rental income and have
increased slightly from last year.
The Asset Management fees the AMPs pay to the COCC is projected to be $85,320.
The fees are based on total housing units and are paid only when the AMPs have a
positive cash flow. All AMPs are projected to pay the fee in 2026.
This budget projects the Authority's public housing operating reserve to increase by
approximately $493,015 in CY 2026.
CENTRAL OFFICE COST CENTER
Also attached, is the budget for the Central Office Cost Center (COCC). The revenue
for the COCC is made up of fees allowed fo be assessed to all programs administered
by the Authority. The total projected revenue is $2,826,600 which is approximately
$123,505 less than in CY25. HUD allows us to charge a management fee to the public
housing properties based on occupied units and HUD approved vacant units. The fee is
$76.89 per unit, consistent with last year. Overall, grants and Housing Choice Voucher
fees decreased this year. Since we conservatively budgeted our number of vouchers
issued this year, the fee we receive from the Housing Choice Voucher program
decreased as well. There were a few grant programs that ended this year; the CDBG
CARES and the HOME American Rescue Plan (ARP) programs ended in 2025,
therefore the administrative fees associated with these programs have ended. The CNI
grant will conclude in September 2025; therefore, positions funded from this grant will
end, and the management fee and the fee associated with the Infrastructure and
Wellness Trail projects have also ended. The CNI Accountant position in Finance will
end in September 2025 and the vacant Procurement Supply Specialist will not be filled
at this time.Jump to an indexed page (66 of 66)