San Diego Housing Commission (SDHC) Fiscal Year 2014 Budget

Transcription

1 San Diego Housing Commission (SDHC) Fiscal Year 2014 Budget July 1, 2013 June 30, 2014 Financial Services Department

2 Rental Assistance SDHC Programs Provide Quality Housing Opportunities To Improve The Lives Of Those In Need Management of SDHC-Owned Housing First-Time Homebuyer Assistance Initiatives to Reduce Homelessness Home Rehabilitation Owanda and his family became First-Time Homebuyers New Affordable Units Family Self-Sufficiency Page 2

3 FY 2014 SDHC Budget $304 Million 266 Employees $0 City General Funds Used Page 3

4 SDHC Executive Summary Sequestration impact partially included in FY 2014 budget Unexpected HUD HAP proration at 94% Proration will be balanced out through reductions in development expenses and/or reserves Unlike many other Housing Authorities, SDHC s existing clients will not experience FY14 support reductions due to: Anticipation and preparation for federal cuts Utilization of available reserves Path to Success initiative Long-term, extended sequestration may require future support reductions Page 4

5 SDHC Executive Summary $26M or 8% decrease in funding sources mostly due to the use of MTW funds in FY 13 for the construction and rehabilitation of affordable housing projects Operating and capital expenses decrease in response to funding constrictions and anticipated federal cuts No increase in permanent staffing No increase in flex or discretionary benefits 3% COLA if supported by available funding sources Performance Incentive Program Unobligated reserves at 3% of budget or $7M Page 5

6 SDHC Sources of Funds By Restriction ($ in Millions) FY 2014 Budget $304.3 M FY 2013 Budget - $330.2 M Unrestricted $12.3 4% Unrestricted $18.4 6% Restricted $ % Restricted $ % Page 6

7 FY14 SDHC Funding Sources By Major Category - $304.3 M ($ in Millions) Local $ % State $ % Federal $ % Page 7

8 FY 2014/13 SDHC Funding Source Comparison ($ in Millions) Page 8

9 FY14 SDHC Funding Uses By Major Category - $304.3 M ($ in Millions) Capital Expenditures $19.2 6% Property Reserves Program $20.5 Reserves 7% $21.4 7% Unobligated & Contingency Reserves $8.0 2% Services & Supplies $12.3 4% Housing Programs $ % Salaries & Benefits $24.9 8% Page 9

10 SDHC Funding Uses By Fiscal Year ($ in Millions) FY 2014 FY 2013 Inc./(Dec) Budget Budget Inc./(Dec) % Housing Programs $ $ $ (16.9) -8% Salaries & Benefits $ % Services & Supplies $ % Capital Expenditures $ (22.7) -54% Reserves $ % Total $ $ $ (25.9) -8% Page 10

11 SDHC Funding Uses Detail Salaries & Benefits ($ in Millions) FY 2014 FY 2013 Budget % Budget % Inc/(Dec.) % Salaries $ % $ % $ 0.8 5% Flex Plan Benefits % % (0.0) 0% Pension Plan % % 0.1 5% Fringe Benefits - Other 1.6 6% 1.5 6% 0.1 5% Total $ % $ % $ 1.0 4% FTE's % Benefit Load as % Of Salaries: 35% 36% Page 11

12 Page 12 FY14 SDHC Funding Uses By Activity $254.3 M (Excluding Reserves) ($ in Millions)

13 FY14 Investment in Homelessness SDHC INVESTMENT IN HOMELESSNESS HOMELESSNESS ACTIVITIES DETAIL FY 2014 Budget Funding Sources Voucher Support $ 7,853,016 Section 8 Move to Work Permanent Supportive Housing for the Disabled (Shelter Plus Care) 2,953,521 HUD Continuum of Care Tenant Based Rental Assistance (HOME) 300,000 HOME Veterans Emergency Shelter Program 355,000 CDBG/ESG/SDHC Cortez Hill Family Shelter 750,000 CDBG/ESG/Linkage Fees Transitional Housing Programs (SDHC Support For Non-Profits) 768,744 Linkage Fees Neil Good Day Center 500,000 CDBG Connections Housing (Interim Housing Program Operating Costs) 442,000 CDBG/ESG/SDHC Rapid Rehousing Program (Short Term Subsidy) 520,801 ESG Regional Continuum of Care Contract (Facilitator/Grantwriter Payments) 98,000 SDHC Senior Citizens Shared Housing Program 93,700 SDHC Serial Inebriate Program 52,705 Linkage Fees & SDHC Hotel/Motel Voucher Program (Families) 50,000 SDHC Regional Task Force on the Homeless 45,000 SDHC Project Homeless Connect 42,000 Donations TOTAL BUDGET COMMITMENT $ 14,824,487 San Diego Housing Commission Slide #8

14 San Diego Housing Commission Slide #9 FY14 Program Targets

15 Sources of Program Funding For Homelessness - $14.8MM Federal funds directly received by SDHC HUD Continuum of Care ($2.9MM) HUD Section 8 Move to Work ($8.0MM) Federal funds received by the City and administered by SDHC ESG ($1.1MM) CDBG ($1.2MM) HOME ($0.3MM) Locally generated funds Linkage & Inclusionary Fees ($1.0MM) SDHC ($0.3MM) San Diego Housing Commission Slide #4

16 SDHC Approval Request: FY 2014 Budget - $304.3 Million 266 Employees $0 City General Funds Page 16

17 SDHC Deliverables To San Diego Continue to assist more than 14,000 low-income households through federal rental assistance Assist 80 households become first-time homebuyers Support the financing of 460 new affordable housing units Rehabilitate 335 homes and apartments for lowincome families Operate 2,314 units of SDHC-owned housing Assist 700 housing choice voucher families in their progress toward self-sufficiency through SDHC's Achievement Academy Provide 833,873 nights of housing to homeless individuals and families Page 17

18 Rental Assistance Creating Affordable Housing Solutions To Homelessness Thank You! Page 18