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.
that our expenses to serve all families authorized is exceeding HUD funding, an increase
may be authorized.
In addition to the HAP, the Authority receives $2,960,498 in administrative fees to operate
and manage the voucher program. We anticipate Congress will fund at least 91.1% of
the fee that Public Housing Authorities are eligible to receive for the 2026 year. Since our
leasing is not at 100%, we have reduced our administrative fee revenue to 92% of the
eligible fee to be more in line with actual leasing activity.
We estimate we will receive $201,852 to administer the Family Self Sufficiency
Homeownership programs through December 31, 2026. This program is funded on a
calendar year basis and we will be advised soon regarding 2026 funding.
In addition to fees, we receive revenue from interest which brings our total Administrative
Revenue to $3,185,350 for the 2026 calendar year. We are able to avoid the use of
administrative reserves this year to balance the administrative budget even with the
91.1% proration of fees.
Expenses to administer the program are projected to be $2,679,462 providing for an
operating cash flow of $505,889. The Section 8 program has owned the Ballou-Palmer
building (115 28th Street) for numerous years. This building was recently sold in
November 2025. The proceeds from the sale were returned to the Section 8 program
and can be used for administrative purposes. In addition, the utility and insurance costs
to maintain the building that were included in previous budgets, have been deleted from
the 2026 budget.
Since salary increases are applied authority-wide, all programs and properties must be
able to afford the increase. Unfortunately, some properties cannot afford a salary
increase. However, we are able to provide a $500 bonus to be given to staff (excluding
the Executive Director) to ease the increased cost of living.
| recommend the bonuses be given at the start of the first pay period in January 2026.
The attached resolution is recommended for your approval.Jump to an indexed page (66 of 66)