A region in need of housing

Transcription

1 ND011 Stutsman County Housing Authority ND028 Foster County Housing Authority ND052 Dickey Sargent Housing Authority FY 2014 Annual Report A region in need of housing page 1

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3 Table of contents Executive director letter Five-year plan Federal updates Community involvement Other incomes Merger and consortium discussions Stutsman County commission & employee information Dickey Sargent Housing Authority recap and updates Dickey Sargent Housing Authority commission & employee info Foster County Housing Authority recap and updates Foster County Housing Authority commission & employee info Accounting information Appendix A Stutsman County Housing Authority quick facts Appendix B - Stutsman County Housing Authority financial overview Appendix C - Stutsman County Housing Authority financials Appendix D - Dickey Sargent Housing Authority quick facts Appendix E - Dickey Sargent Housing Authority year-end financials Appendix F -Foster County Housing Authority quick facts Appendix G - Foster County Housing Authority year-end financials page 3

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5 EXECUTIVE DIRECTOR LETTER Fiscal year 2014 continued housing challenges for our housing authorities in North Dakota, including the three managed through the SCHA office. A housing shortage continued to get tighter, rents increased, and funds reduced. Sequestration still lingers in the housing authorities since funding dropped to levels that diminished our ability to assist. Congress passed a budget for HUD last fall and we received some additional housing assistance funding. Our administrative also saw a slight increase. We have continued to keep our administrative costs low and work with more of what we have. Our housing assistance budget can no longer support the amount of need in our area and that will have devastating impacts on other agencies. Emphasys Software recently recognized our housing authorities along with Ramsey County Housing Authority and their group, with a national award for unique leadership and collaboration. This is the second time in three years that Emphasys recognized our groups. In addition, we are reviewing how we will help those residents who are transitioning between subsidized housing and market rate. Several buildings in Stutsman, Foster, and Dickey Counties and surrounding counties have and will be leaving subsidized programs in the coming months. This affects us in a positive and negative way. We are working with numerous agencies and building owners to help our communities in the best manner possible. Our region is experiencing growth, yet we are seeing a gap grow between what people can afford and what rent will be. Some landlords are increasing rents to do remodeling, some are new landlords and need the cash flow, some new projects need more cash funding, and some are just for pure profit. We ve worked hard to educate people on affordable housing and are working with economic groups to make tools available. SCHA works directly with several affordable housing developers on potential projects in our region. We are hopeful that 2015 will bring a flurry of housing activity that will help sustain our region. We need housing in order to provide our services. We need housing to grow. We need housing to foster economic development. We need affordable housing to attract and retain people. We need housing. David Klein Executive Director page 5

6 FIVE-YEAR PLAN FIVE-YEAR PLAN STUTSMAN COUNTY HOUSING AUTHORITY BEGINNING FISCAL YEAR 07/01/2014 It is the mission of the Stutsman County Housing Authority to provide safe, affordable housing opportunities for persons with low and moderate income and to promote economic self-sufficiency of families. GOAL ONE: To increase the availability of decent, safe and affordable housing by maximizing participation in Section 8 Tenant Based Rental Assistance Program. OBJECTIVES: 1. The SCHA staff will monitor the HAP payments monthly to ensure that either 100% of all anticipated Annual Contributions Contract is utilized or that 95% of total units months are leased. a. PHA will continue to issue vouchers in an effort to utilize a greater amount of budget authority while maintaining financial stability. b. The housing authority developed waiting list preferences and required documentation for applicants claiming preferences. Applicants are assigned a preference at the time of application and can request a review of the preference if proper documentation is provided. c. Victims of Domestic Violence i. Documentation required: Victims must sign a confidentiality release and/or provide a letter from a domestic violence center stating the center worked with the applicant. (Depending on availability and financials, this does not guarantee immediate placement) d. Individuals or families residing within Stutsman & Logan Counties (processed in the following order) i. Elderly and disabled households ii. Families with minor children iii. Singles iv. Applicants must provide documentation demonstrating a residence in Stutsman or Logan Counties. Documents must show a current Stutsman or Logan County address (PO Box addresses not accepted). Acceptable documents include pay stubs, utility bills, lease, cell phone or phone bills, or a notarized letter demonstrating established residence. e. Non-residents of Stutsman & Logan Counties (processed in the following order) i. Elderly and disabled households ii. Families with minor children iii. Singles 2. The SCHA has entered into cooperative portability arrangements with other PHAs in the state to utilize any excess funds. SCHA will reduce portability arrangements when possible to support page 6

7 additional assistance in our region 3. SCHA will provide rental assistance program throughout its jurisdiction by providing assistance to families at or below 50% of area median income while targeting 75% of all new admissions to families with exceptionally low incomes of less than 30% of median. a. SCHA has established a tracking mechanism to select applicants to meet the 75% target. 4. If invited by HUD, SCHA will submit application to administer Section 8 Housing Choice Vouchers provided to families living in developments affected by the opt-out by owners of the project based Section 8 program. 5. Conduct a housing survey to use in the setting of the Payment Standards in the % range of the Fair Market Rents. a. HUD proposed new market rates effective October 1, SCHA will review and if needed, adjust rates to ensure applicants can find affordable housing locally. 6. Through efficient management of program, the SCHA will maintain its Restricted Net Assets fund, which will be used to increase housing opportunities. 7. Through various forms of print media, the SCHA will educate the participants, the landlords and the community on agency programs and guidelines. 8. Through constant monitoring, the SCHA will insure effective management of the voucher program resulting in the Section Eight Management Assessment Program (SEMAP) rating of high performer. 9. SCHA will work with local, regional, and state agencies to provide transitional services for families relocating with special needs. GOAL TWO: To assist families in the nine county region obtain affordable housing by providing a grant up to $300 for security and/or utility deposits. OBJECTIVES: 1. Act as lead agency in a regional coop application to the North Dakota Division of Community Services for tenant based rental assistance funding under the HOME program. These funds will be used in emergencies to prevent homelessness or to assist persons in transitional housing to secure permanent rental housing. Funds will also be used to assist low-income families in securing a more affordable rental unit. 2. Provide sound fiscal management of grant funds. 3. Request North Dakota Division of Community Services to release unexpended funds for the HOME Tenant Based Rent Assistance program. SCHA will collaborate with other groups and agencies to increase the availability of funds. GOAL THREE: To provide technical assistance to other housing authorities in the nine county region and to establish consortiums to administer any or all housing programs if requests by other PHAS. OBJECTIVES: 1. The Executive Director and various staff members assist other PHAs by providing technical assistance at quarterly round tables, through phone inquires and at local agencies. 2. Participate as presenter for Roundtables for ND PHAs. 3. Provided technical assistance to other small housing authorities in the region. 4. Provide quality control services to other housing authorities. 5. Attend state, regional and national conferences and share information with smaller PHAs with limited resources. 6. Establish a resource center for Directors and Boards of Commissioners. page 7

8 7. Director will present training on Section 8 to any housing authority as requested. GOAL FOUR: To provide technical assistance to other government agencies, non-profits, and the regional homeless coalition. OBJECTIVES: 1. The Executive Director and various staff members assist other groups by providing technical assistance by attending meetings. 2. Participate as presenter for area meetings and groups. 3. Provided technical assistance to other small housing authorities and agencies in the region. 4. Attend state, regional and national conferences and share information with other government agencies. 5. Director will present training on Section 8 to any housing authority or entity as requested. GOAL FIVE: To increase communication with landlords, tenants, applicants and other through the use of website. OBJECTIVE: SCHA has a website and will use that website to develop a newsletter viewers can read. New developments will be posted on the website, unless required by law to send via mail. GOAL SIX: To explore partnerships in bringing affordable housing to the region, and diversifying the administrative portfolio. OBJECTIVE: SCHA will work with developers in bringing affordable housing to the region. SCHA will provide technical assistance and support when necessary. SCHA will explore options to develop and own property that would be available to households that are in the low to moderate income levels. The Stutsman County Housing Authority will carry out all activities and items listed in this Plan in compliance with all applicable civil rights requirements and that the Stutsman County Housing Authority will affirmatively further fair housing. page 8

9 FEDERAL UPDATES Sequestration Sequestration kicked in effectively April 1, 2013 for housing authorities. Our budgets were trimmed to a point of paralyzing the housing authorities. HUD also issued declarations in retrieving net restricted assets (NRA) funds that are held to help housing authorities deal with budget changes. Although sequestration is gone, it still affects us in our operations. SCHA, along with all HUD funded housing authorities; saw around a 7% decrease in housing assistance funding. In addition, the administrative earnings per voucher went from 75% down to 69%. Our admin funding has gone up by HUD and Congress still underfunds the office. Despite increasing the amount per voucher and slightly increase the proration, our voucher numbers continue to decrease hurting the office. Graphic from PHADA Fair market rents HUD conducted a rental study that includes Stutsman, Barnes, Ransom, and LaMoure Counties during the spring and summer of The study s purpose is to identify true rent costs versus what the annual rent study generates. The FY2013 fair market rates published by HUD were a drastic decrease from the prior year. These rates were lower than the previous year and would be difficult to implement in a tight market. SCHA requested guidance from HUD. After some review, HUD declared Stutsman County and Foster County energy impacted and allowed the housing authority board to change the allowed rents to a higher amount. Unfortunately, Dickey, Sargent, and Logan counties do not qualify for the energy exemption. page 9

10 The FY2014 Fair Market Rates were near the target amounts to help families. HUD found our rents to be off by 13%. The rent amounts went up that HUD allows, but our budgets did not. HUD recently issued the FY2015 Fair Market Rates and they have an eight percent (8%) decrease for Stutsman County and six percent (6%) decrease for all other counties. Few places within North Dakota that saw increases in the rent rate amounts. This is extremely puzzling after the year we ve all had, and our housing authorities are contesting the results. The new rental rates from the study helped our housing authorities place people. On the troubling side, landlords quickly raised the rents in areas to match the maximum. HUD did not give our housing authority any extra funding to combat the rising rates, so we are helping fewer and fewer households. Net restricted asset take back HUD issued guidance that it would take back the net restrict assets fund that housing authorities use to balance any expenses over their budgeted amount. Housing authorities often use that fund to cushion the blow when rents rise or incomes change. It also allows housing authorities to place people on the program while others are going off assistance. As of July 1, HUD now holds that fund. Housing authorities will need to take any extra out of their office funds first, and then ask HUD for any additional funding if it is available. This makes it difficult to since the HOME security deposit funds Cash management system HUD s accounting system, Cash Management, does give housing authorities an approximate annual budget. However, HUD reviews expenditures every three months and will change the funding formula based on their analysis without input from the housing authority. This method of accounting and running without reserves makes it nearly impossible to budget. HUD compliance review In February 2014, our housing authority group was chosen by HUD for a compliance review on the topic of local preferences. HUD expanded the review to include limited English policies and other factors. We will not know the results of the compliance review. It is our estimation that we have spent weeks working on producing information, reviewing policies, checking files, answering questions and more for HUD. HUD indicated the results would be done in November. Our boards will review the results and determine if any course of action is required. page 10

11 ONGOING COMMUNITY INVOLVEMENT Homelessness SCHA is actively involved is the regional discussions about the homelessness concerns. We ve attended meetings in Jamestown and Valley City to discuss how various agencies can work together to help the homeless. The South Central Homeless Coalition completed a regional service directory, website, release of information, raised funds, and started education in the past year. Housing study SCHA was a primary sponsor in the regional housing study conduct by Maxfield Research. The South Central Dakota Regional Council coordinated an effort to study housing needs for the area in an effort to help prepare the region for more business development. Housing needs without including projected projects in Jamestown and Spiritwood show an increase demand of over 1,100 units of housing in the next six years. When reviewing the projects and number of employees needed, that number balloons to over 2,500 units needed. SCHA has been active in helping our neighboring counties in the region in discussing housing issues. We feel that if our neighbors have issues it will have negative effects on our home base. We need a strong region for housing and encourage people of all incomes. Changes in subsidized housing Our organization is working with North Dakota Housing & Finance Agency, HUD, and USDA Rural Development to provide assistance when funding allows for those who are currently in a subsidized building that is leaving their respective programs. At times, funding will transfer to SCHA, and other times, SCHA will need to allocate some funds to help these vulnerable individuals. Housing developments & community discussions SCHA is actively working with Jamestown / Stutsman County Development Corporation on housing issues and regional workforce development. It is important that we help those in low to moderate income brackets and create a balanced economy for the region. SCHA was involved with the city planning done through SRF Consulting for the city of Jamestown. SCHA participates in the land use transportation planning process in Jamestown to help facilitate housing and better neighborhoods. Regional housing impacts The entire region is undergoing changes and seeing business growth. This puts strain on the current housing stock since it takes time to build homes and apartments. SCHA works with the region s counties to understand their situation and plan accordingly. Supportive housing services The Money Follows the Person program and Human Service Centers have been meeting quarterly to discuss the lack of supportive housing in the state. Our region is no different in that many vulnerable households are losing housing due to no supportive staffing or solutions. This past year the Dewey Apartments gave up supportive services due to lack of staffing and costs. This is a concern and our housing authorities are participating in discussions across the state and region. page 11

12 Housing roundtables SCHA and North Dakota Housing and Finance Agency held two housing roundtables to discuss housing issues in Jamestown & Stutsman County. The groups reviewed barriers to development and are in the process of forming a task force to help housing development become less stressful for developers. Foster County Housing Authority continues discussions with economic development in Foster County and identifying needs. SCHA/FCHA provide developers information about current and projected needs. In addition, we provide any information we have to local and regional offices including funding contacts and interested developers. Dickey Sargent Housing works with a few owners to help discuss future needs in those communities. At this time, a planned power line project that will gear up in late 2015 and run for three years will have a major impact to the communities of Ellendale and Oakes. page 12

13 OTHER INCOMES Foster & Dickey/Sargent SCHA earns the full administrative fees from the housing authorities in Foster County and Dickey Sargent Housing. SCHA administrates those programs. In October 2012, SCHA absorbed the employees from both housing authorities and made the programs operate smoother from one area. A SCHA employee travels to Foster County twice per month, and SCHA has a part-time employee in Ellendale who covers Dickey and Sargent Counties. HOME incomes SCHA continues to administrate the HOME fund for the region. HOME is a grant from HUD to the ND Department of Commerce that helps households cover part of their security deposit. The current grant level is $300 for an eligible household. During fiscal year 2014, SCHA issued 109 security deposit grants totaling $30,950. SCHA earns ten percent on each grant. Other revenues SCHA is currently looking into other revenue streams that may help our operations. This includes working with other housing authorities, developers, etc. We hope to find methods in generating revenues currently lost to sequestration. There is a growing concern that HUD would like to have far fewer housing authorities in the state. We have a concern that if offices in our region are forced to close, our residents will suffer because of a lack of services. Voucher utilization SCHA is exploring the option of adding a local preference to use our vouchers within the areas SCHA covers when a complex leaves a subsidized program. This will help keep the vouchers in the area and prevent additional budget loss. SCHA may explore the option of project basing some vouchers and creating sustainable contracts with landlords. Training SCHA, DSHA, and FCHA are hosting a landlord training event on October 30 th in Jamestown. The event will help landlords, tenants, and others understand the process and legal parameters under North Dakota law. Our organization will examine any other trainings to bring to the area that may help benefit our region and clients. page 13

14 MERGER AND CONSORTIUM DISCUSSIONS Our housing authorities continue discussions with Ramsey County (ND) Housing Authority and their group to merge or create a formal consortium. We have been discussing this idea for three years in order to maximize voucher dollars and use, and held with the administrative burden. Discussions included creating the informal group in place now that share software and web resources between the seven housing authorities covering eleven counties. Our group includes using a local attorney to review local and state laws, and HUD s legal team in Denver. At this time, our group is exploring using the new HUD rules for creating a consortium that would require the board of directors to pass a resolution and joint power agreement. The local boards would still exist and help make decisions for a group managed under one roof. There would be fewer reports to HUD, and only one financial audit. One major advantage would be the ability to share vouchers and dollars easily within the counties served and maximize use. We would have the ability to help smaller counties with needs quickly instead of waiting for budgets to clear or processing lots of paperwork. Our group is focused on continuing these discussing and ironing out administrative issues shortly. Our goal is to finalize a decision by October 1. page 14

15 STUTSMAN COUNTY EMPLOYEE & BOARD INFORMATION Board of commissioners Kelly Krein (chairperson) Allen Falk (vice chairperson) Carolyn Cichos (vice chairperson) Tonya Perkins Elizabeth Koenig Employees David Klein Executive Director Linda Griffith Program Manager Teresa Blondo Dickey Sargent Director / SCHA Occupancy Specialist Office info Stutsman County Housing Authority nd Ave NE Suite 200, Jamestown, ND Open Monday Thursday 8:00 AM to 4:30 PM, and Friday 8:00 AM to Noon Phone: Stutsman Fax Website: page 15

16 DICKEY SARGENT HOUSING AUTHORITY Dickey Sargent is working with landlords right now who purchased USDA Rural Development properties and opted out of their subsidy programs. Those clients have to apply and be place on the DSHA waiting list. Our organization is flexible in helping these families maintain some assistance. DSHA has a financial year-end of December 31. The 2013 fiscal year was stable and we have been able to add people when needed without much wait. page 16

17 DICKEY SARGENT HOUSING AUTHORITY EMPLOYEE & BOARD INFORMATION Board of commissioners Karen Anderson (chairperson) Diane Henningsen (vice chairperson) Kristy Gilbert Deb Tank Employees David Klein Executive Director Teresa Blondo Dickey Sargent Director / SCHA Occupancy Specialist Office info Dickey County Courthouse, Ellendale, ND Open Tuesday & Wednesday 8:00 AM to 4:30 PM Phone: Phone x9 Fax Website: page 17

18 FOSTER COUNTY HOUSING AUTHORITY Foster County worked with an owner last year that left a USDA program. Our office assisted three elderly households from that transition with our vouchers. Foster County was notified by an owner and HUD that a 24-plex with assistance will be leaving that program July 1, That will increase the workload in Foster County and continue providing assistance for those households. FCHA has a financial year-end of December 31. The 2013 fiscal year was stable to decline and we have been able to add people when needed without much wait. Foster County does not receive many applications because of the limited availability of housing. Applicants decide not to apply because they cannot find something in the community. page 18

19 FOSTER COUNTY HOUSING AUTHORITY EMPLOYEE & BOARD INFORMATION Board of commissioners Les Greger (chairperson) Tamara Becker (vice chairperson) Sandra Rose Laurie Dietz Jim Schmitz Employees David Klein Executive Director Office info Foster County Courthouse, Carrington, ND Every other Thursday 9:00 AM 3:30 PM, or via appointment Phone: Phone Fax Website: page 19

20 ACCOUNTING INFORMATION DSHA, FCHA, and SCHA Unaudited / Fee accounting / Year-end closing done by Emphasys Accounting SCHA auditing done by Niewedde & Wiens, York, Nebraska Dickey Sargent Housing Authority and Foster County Housing do not require an annual audit, only Stutsman County Information shared in this report is unaudited reports completed by the fee accountant. Audited reports are available in January. page 20

21 APPENDIX A STUTSMAN COUNTY HOUSING AUTHORITY QUICK FACTS page 21

22 Stutsman County Housing Authority HAP spent Units Available Units leased Percent Used Cost per unit July 2014 $114, % $292 CY2014 $790,641 3,692 2,758 75% $287 CY2013 $1,210,039 6,072 4,458 73% $271 CY2012 $1,225,781 6,072 4,817 79% $254 CY2011 $1,201,709 5,928 4,980 84% $241 CY2010 $1,237,767 5,928 5,254 89% $236 CY2009 $1,167,979 5,928 5,442 92% $215 CY2008 $1,131,004 5,928 5,652 95% $200 CY2007 $1,113,048 5,928 5,625 95% $198 CY2006 $1,088,581 5,928 5,670 96% $192 CY2005 $1,108,139 5,928 5,693 96% $195 Admin fee Proration Admin expenses Admin cost per unit July 2014 $ % $17, CY2014 $ % $144, CY2013 $ % $230, CY2012 $ % $247, CY % $233, CY % $226, CY2009 $227, CY2008 $224, CY2007 $223, CY2006 $227, CY2005 $227, CY2012, CY2013, CY2014 Includes administrating costs for Dickey Sargent and Foster County page 22

23 APPENDIX B - STUTSMAN COUNTY HOUSING AUTHORITY FINANCIAL OVERVIEW page 23

24 Account FY2014 FY2013 FY2012 FY2011 FY2010 UNA office reserve 59,841 70,393 63,556 45,863 48,792 NRA assistance reserve 83,434 93, ,353 94, ,871 Salaries 104, , , , ,273 Admin expenses 246, , , , ,351 Admin revenue 237, , , , ,614 HAP expenses 1,256,317 1,253,161 1,200,058 1,230,894 1,153,409 HAP revenue 1,228,489 1,192,556 1,263,027 1,197,126 1,130,438 HAP % utilized 102% 105% 95% 103% 102% Units used 4,514 4,744 4,922 5,145 5,263 Units available 6,197 6,072 6,072 5,928 5,928 Units percent 73% 78% 81% 87% 89% page 24

25 APPENDIX C - STUTSMAN COUNTY HOUSING AUTHORITY FINANCIALS page 25

26 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Balance Sheet Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total 111 Cash - Unrestricted 112 Cash - Restricted - Modernization and Development 113 Cash - Other Restricted 114 Cash - Tenant Security Deposits 115 Cash - Restricted for Payment of Current Liabilities 100 Total Cash $59,841 $0 $59,841 $59,841 $83,434 $83,434 $83,434 $143,275 $0 $143,275 $143, Accounts Receivable - PHA Projects 122 Accounts Receivable - HUD Other Projects 124 Accounts Receivable - Other Government 125 Accounts Receivable - Miscellaneous 126 Accounts Receivable - Tenants Allowance for Doubtful Accounts -Tenants Allowance for Doubtful Accounts - Other 127 Notes, Loans, & Mortgages Receivable - Current 128 Fraud Recovery Allowance for Doubtful Accounts - Fraud 129 Accrued Interest Receivable 120 Total Receivables, Net of Allowances for Doubtful Accounts $4,914 $4,914 $4,914 $3,905 $3,905 $3,905 $1,483 $1,483 $1,483 -$815 -$815 -$815 $32,747 $32,747 $32,747 -$24,857 -$24,857 -$24,857 $17,377 $0 $17,377 $17, Investments - Unrestricted 132 Investments - Restricted 135 Investments - Restricted for Payment of Current Liability 142 Prepaid Expenses and Other Assets 143 Inventories $7,258 $7,258 $7,258 1 page 26

27 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Balance Sheet Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total Allowance for Obsolete Inventories 144 Inter Program Due From 145 Assets Held for Sale 150 Total Current Assets $167,910 $0 $167,910 $167, Land 162 Buildings 163 Furniture, Equipment & Machinery - Dwellings 164 Furniture, Equipment & Machinery - Administration 165 Leasehold Improvements 166 Accumulated Depreciation 167 Construction in Progress 168 Infrastructure 160 Total Capital Assets, Net of Accumulated Depreciation $29,813 $29,813 $29,813 -$20,534 -$20,534 -$20,534 $9,279 $0 $9,279 $9, Notes, Loans and Mortgages Receivable - Non-Current 172 Notes, Loans, & Mortgages Receivable - Non Current - Past 173 Grants Receivable - Non Current 174 Other Assets 176 Investments in Joint Ventures 180 Total Non-Current Assets $9,279 $0 $9,279 $9, Total Assets $177,189 $0 $177,189 $177, Deferred Outflow of Resources 2 page 27

28 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Balance Sheet Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total 290 Total Assets and Deferred Outflow of Resources $177,189 $0 $177,189 $177, Bank Overdraft 312 Accounts Payable <= 90 Days 313 Accounts Payable >90 Days Past Due 321 Accrued Wage/Payroll Taxes Payable 322 Accrued Compensated Absences - Current Portion 324 Accrued Contingency Liability 325 Accrued Interest Payable 331 Accounts Payable - HUD PHA Programs 332 Account Payable - PHA Projects 333 Accounts Payable - Other Government 341 Tenant Security Deposits 342 Unearned Revenue 343 Current Portion of Long-term Debt - Capital 344 Current Portion of Long-term Debt - Operating Borrowings 345 Other Current Liabilities 346 Accrued Liabilities - Other 347 Inter Program - Due To 348 Loan Liability - Current 310 Total Current Liabilities $5,807 $5,807 $5,807 $1,499 $1,499 $1,499 $7,306 $0 $7,306 $7, Long-term Debt, Net of Current - Capital Projects/Mortgage 352 Long-term Debt, Net of Current - Operating Borrowings 353 Non-current Liabilities - Other 354 Accrued Compensated Absences - Non Current $4,979 $4,979 $4,979 3 page 28

29 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Balance Sheet Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total 355 Loan Liability - Non Current 356 FASB 5 Liabilities 357 Accrued Pension and OPEB Liabilities 350 Total Non-Current Liabilities $4,979 $0 $4,979 $4, Total Liabilities $12,285 $0 $12,285 $12, Deferred Inflow of Resources Net Investment in Capital Assets Restricted Net Position Unrestricted Net Position 513 Total Equity - Net Assets / Position $9,279 $0 $9,279 $9,279 $84,077 $0 $84,077 $84,077 $71,548 $0 $71,548 $71,548 $164,904 $0 $164,904 $164, Total Liab., Def. Inflow of Res., and Equity - Net Assets / $177,189 $0 $177,189 $177,189 4 page 29

30 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total Net Tenant Rental Revenue Tenant Revenue - Other Total Tenant Revenue $0 $ HUD PHA Operating Grants Capital Grants Management Fee Asset Management Fee Book Keeping Fee Front Line Service Fee Other Fees Total Fee Revenue $1,438,350 $34,595 $1,472,945 $1,472, Other Government Grants Investment Income - Unrestricted Mortgage Interest Income Proceeds from Disposition of Assets Held for Sale Cost of Sale of Assets Fraud Recovery Other Revenue Gain or Loss on Sale of Capital Assets Investment Income - Restricted Total Revenue $117 $117 $117 $16,644 $16,644 $16,644 $37,481 $37,481 $37,481 $1,492,592 $34,595 $1,527,187 $0 $1,527, Administrative Salaries $104,128 $104,128 $104,128 1 page 30

31 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total Auditing Fees Management Fee Book-keeping Fee Advertising and Marketing Employee Benefit contributions - Administrative Office Expenses Legal Expense Travel Allocated Overhead Other Total Operating - Administrative $7,293 $7,293 $7,293 $54,718 $54,718 $54,718 $23,273 $23,273 $23,273 $6,810 $6,810 $6,810 $37,258 $37,258 $37,258 $233,480 $0 $233,480 $0 $233, Asset Management Fee Tenant Services - Salaries Relocation Costs Employee Benefit Contributions - Tenant Services Tenant Services - Other Total Tenant Services $0 $ Water Electricity Gas Fuel Labor Sewer Employee Benefit Contributions - Utilities $263 $263 $263 2 page 31

32 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total Other Utilities Expense Total Utilities $263 $0 $263 $0 $ Ordinary Maintenance and Operations - Labor Ordinary Maintenance and Operations - Materials and Ordinary Maintenance and Operations Contracts Employee Benefit Contributions - Ordinary Maintenance Total Maintenance $0 $ Protective Services - Labor Protective Services - Other Contract Costs Protective Services - Other Employee Benefit Contributions - Protective Services Total Protective Services $0 $ Property Insurance Liability Insurance Workmen's Compensation All Other Insurance Total insurance Premiums $572 $572 $572 $1,229 $1,229 $1,229 $250 $250 $250 $2,051 $0 $2,051 $0 $2, Other General Expenses Compensated Absences Payments in Lieu of Taxes Bad debt - Tenant Rents Bad debt - Mortgages $300 $29,850 $30,150 $30,150 $1,499 $1,499 $1,499 3 page 32

33 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total Bad debt - Other Severance Expense Total Other General Expenses $8,592 $8,592 $8,592 $10,391 $29,850 $40,241 $0 $40, Interest of Mortgage (or Bonds) Payable Interest on Notes Payable (Short and Long Term) Amortization of Bond Issue Costs Total Interest Expense and Amortization Cost $0 $ Total Operating Expenses $246,185 $29,850 $276,035 $0 $276, Excess of Operating Revenue over Operating Expenses $1,246,407 $4,745 $1,251,152 $0 $1,251, Extraordinary Maintenance Casualty Losses - Non-capitalized Housing Assistance Payments HAP Portability-In Depreciation Expense Fraud Losses Capital Outlays - Governmental Funds Debt Principal Payment - Governmental Funds Dwelling Units Rent Expense Total Expenses $1,256,317 $1,256,317 $1,256,317 $1,366 $1,366 $1,366 $2,454 $2,454 $2,454 $1,506,322 $29,850 $1,536,172 $0 $1,536, Operating Transfer In Operating transfer Out $4,745 $4,745 $4,745 -$4,745 -$4,745 -$4,745 4 page 33

34 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total Operating Transfers from/to Primary Government Operating Transfers from/to Component Unit Proceeds from Notes, Loans and Bonds Proceeds from Property Sales Extraordinary Items, Net Gain/Loss Special Items (Net Gain/Loss) Inter Project Excess Cash Transfer In Inter Project Excess Cash Transfer Out Transfers between Program and Project - In Transfers between Project and Program - Out Total Other financing Sources (Uses) $4,745 -$4, Excess (Deficiency) of Total Revenue Over (Under) Total -$8,985 $0 -$8,985 $0 -$8, Required Annual Debt Principal Payments Beginning Equity Prior Period Adjustments, Equity Transfers and Correction Changes in Compensated Absence Balance Changes in Contingent Liability Balance Changes in Unrecognized Pension Transition Liability Changes in Special Term/Severance Benefits Liability Changes in Allowance for Doubtful Accounts - Dwelling Changes in Allowance for Doubtful Accounts - Other Administrative Fee Equity $0 $173,889 $0 $173,889 $173,889 $80,827 $80,827 $80, Housing Assistance Payments Equity $84,077 $84,077 $84,077 5 page 34

35 HOUSING AUTHORITY OF STUTSMAN COUNTY, ND (ND011) Jamestown, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/A-133 Fiscal Year End: 06/30/ Housing Choice Vouchers HOME Investment Partnerships Program Subtotal ELIM Total Unit Months Available Number of Unit Months Leased Excess Cash Land Purchases Building Purchases Furniture & Equipment - Dwelling Purchases Furniture & Equipment - Administrative Purchases Leasehold Improvements Purchases Infrastructure Purchases CFFP Debt Service Payments Replacement Housing Factor Funds page 35

36 APPENDIX D - DICKEY SARGENT HOUSING AUTHORITY QUICK FACTS page 36

37 Dickey Sargent Housing Authority HAP spent Units Available Units leased Percent Used Cost per unit July 2014 $9, % $258 CY2014 $74, % $265 CY2013 $124, % $264 CY2012 $124, % $271 CY2011 $132, % $256 CY2010 $115, % $240 CY2009 $133, % $256 CY2008 $119, % $254 CY2007 $104, % $267 CY2006 $96, % $252 CY2005 $81, % $248 Admin fee Proration Admin expenses Admin per unit July 2014 $ % $1, CY2014 $ % $12, CY2013 $ % $20, CY2012 $ % $31, CY % $24, CY % $20, CY2009 $18, CY2008 $18, CY2007 $17, CY2006 $18, CY2005 $14, page 37

38 APPENDIX E - DICKEY SARGENT HOUSING AUTHORITY YEAR-END FINANCIALS page 38

39 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Balance Sheet Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total 111 Cash - Unrestricted 112 Cash - Restricted - Modernization and Development 113 Cash - Other Restricted 114 Cash - Tenant Security Deposits 115 Cash - Restricted for Payment of Current Liabilities 100 Total Cash $18,055 $18,055 $18,055 $1,135 $1,135 $1,135 $19,190 $19,190 $19, Accounts Receivable - PHA Projects 122 Accounts Receivable - HUD Other Projects 124 Accounts Receivable - Other Government 125 Accounts Receivable - Miscellaneous 126 Accounts Receivable - Tenants Allowance for Doubtful Accounts -Tenants Allowance for Doubtful Accounts - Other 127 Notes, Loans, & Mortgages Receivable - Current 128 Fraud Recovery Allowance for Doubtful Accounts - Fraud 129 Accrued Interest Receivable 120 Total Receivables, Net of Allowances for Doubtful Accounts $2,669 $2,669 $2,669 -$2,669 -$2,669 -$2, Investments - Unrestricted 132 Investments - Restricted 135 Investments - Restricted for Payment of Current Liability 142 Prepaid Expenses and Other Assets 143 Inventories $6,223 $6,223 $6,223 1 page 39

40 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Balance Sheet Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total Allowance for Obsolete Inventories 144 Inter Program Due From 145 Assets Held for Sale 150 Total Current Assets $25,413 $25,413 $25, Land 162 Buildings 163 Furniture, Equipment & Machinery - Dwellings 164 Furniture, Equipment & Machinery - Administration 165 Leasehold Improvements 166 Accumulated Depreciation 167 Construction in Progress 168 Infrastructure 160 Total Capital Assets, Net of Accumulated Depreciation $3,667 $3,667 $3,667 -$2,828 -$2,828 -$2,828 $839 $839 $ Notes, Loans and Mortgages Receivable - Non-Current 172 Notes, Loans, & Mortgages Receivable - Non Current - Past 173 Grants Receivable - Non Current 174 Other Assets 176 Investments in Joint Ventures 180 Total Non-Current Assets $839 $839 $ Total Assets $26,252 $26,252 $26, Deferred Outflow of Resources 2 page 40

41 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Balance Sheet Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total 290 Total Assets and Deferred Outflow of Resources $26,252 $26,252 $26, Bank Overdraft 312 Accounts Payable <= 90 Days 313 Accounts Payable >90 Days Past Due 321 Accrued Wage/Payroll Taxes Payable 322 Accrued Compensated Absences - Current Portion 324 Accrued Contingency Liability 325 Accrued Interest Payable 331 Accounts Payable - HUD PHA Programs 332 Account Payable - PHA Projects 333 Accounts Payable - Other Government 341 Tenant Security Deposits 342 Unearned Revenue 343 Current Portion of Long-term Debt - Capital 344 Current Portion of Long-term Debt - Operating Borrowings 345 Other Current Liabilities 346 Accrued Liabilities - Other 347 Inter Program - Due To 348 Loan Liability - Current 310 Total Current Liabilities $10 $10 $10 $10 $10 $ Long-term Debt, Net of Current - Capital Projects/Mortgage 352 Long-term Debt, Net of Current - Operating Borrowings 353 Non-current Liabilities - Other 354 Accrued Compensated Absences - Non Current 3 page 41

42 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Balance Sheet Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total 355 Loan Liability - Non Current 356 FASB 5 Liabilities 357 Accrued Pension and OPEB Liabilities 350 Total Non-Current Liabilities 300 Total Liabilities $10 $10 $ Deferred Inflow of Resources Net Investment in Capital Assets Restricted Net Position Unrestricted Net Position 513 Total Equity - Net Assets / Position $839 $839 $839 $7,348 $7,348 $7,348 $18,055 $18,055 $18,055 $26,242 $26,242 $26, Total Liab., Def. Inflow of Res., and Equity - Net Assets / $26,252 $26,252 $26,252 4 page 42

43 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total Net Tenant Rental Revenue Tenant Revenue - Other Total Tenant Revenue HUD PHA Operating Grants Capital Grants Management Fee Asset Management Fee Book Keeping Fee Front Line Service Fee Other Fees Total Fee Revenue $131,256 $131,256 $131, Other Government Grants Investment Income - Unrestricted Mortgage Interest Income Proceeds from Disposition of Assets Held for Sale Cost of Sale of Assets Fraud Recovery Other Revenue Gain or Loss on Sale of Capital Assets Investment Income - Restricted Total Revenue $1 $1 $1 $646 $646 $646 $131,903 $131,903 $131, Administrative Salaries 1 page 43

44 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total Auditing Fees Management Fee Book-keeping Fee Advertising and Marketing Employee Benefit contributions - Administrative Office Expenses Legal Expense Travel Allocated Overhead Other Total Operating - Administrative $21,224 $21,224 $21,224 $21,224 $21,224 $21, Asset Management Fee Tenant Services - Salaries Relocation Costs Employee Benefit Contributions - Tenant Services Tenant Services - Other Total Tenant Services Water Electricity Gas Fuel Labor Sewer Employee Benefit Contributions - Utilities 2 page 44

45 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total Other Utilities Expense Total Utilities Ordinary Maintenance and Operations - Labor Ordinary Maintenance and Operations - Materials and Ordinary Maintenance and Operations Contracts Employee Benefit Contributions - Ordinary Maintenance Total Maintenance Protective Services - Labor Protective Services - Other Contract Costs Protective Services - Other Employee Benefit Contributions - Protective Services Total Protective Services Property Insurance Liability Insurance Workmen's Compensation All Other Insurance Total insurance Premiums Other General Expenses Compensated Absences Payments in Lieu of Taxes Bad debt - Tenant Rents Bad debt - Mortgages 3 page 45

46 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total Bad debt - Other Severance Expense Total Other General Expenses Interest of Mortgage (or Bonds) Payable Interest on Notes Payable (Short and Long Term) Amortization of Bond Issue Costs Total Interest Expense and Amortization Cost Total Operating Expenses $21,224 $21,224 $21, Excess of Operating Revenue over Operating Expenses $110,679 $110,679 $110, Extraordinary Maintenance Casualty Losses - Non-capitalized Housing Assistance Payments HAP Portability-In Depreciation Expense Fraud Losses Capital Outlays - Governmental Funds Debt Principal Payment - Governmental Funds Dwelling Units Rent Expense Total Expenses $124,293 $124,293 $124,293 $646 $646 $646 $482 $482 $482 $146,645 $146,645 $146, Operating Transfer In Operating transfer Out 4 page 46

47 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total Operating Transfers from/to Primary Government Operating Transfers from/to Component Unit Proceeds from Notes, Loans and Bonds Proceeds from Property Sales Extraordinary Items, Net Gain/Loss Special Items (Net Gain/Loss) Inter Project Excess Cash Transfer In Inter Project Excess Cash Transfer Out Transfers between Program and Project - In Transfers between Project and Program - Out Total Other financing Sources (Uses) Excess (Deficiency) of Total Revenue Over (Under) Total -$14,742 -$14,742 -$14, Required Annual Debt Principal Payments Beginning Equity Prior Period Adjustments, Equity Transfers and Correction Changes in Compensated Absence Balance Changes in Contingent Liability Balance Changes in Unrecognized Pension Transition Liability Changes in Special Term/Severance Benefits Liability Changes in Allowance for Doubtful Accounts - Dwelling Changes in Allowance for Doubtful Accounts - Other Administrative Fee Equity $40,984 $40,984 $40,984 $18,894 $18,894 $18, Housing Assistance Payments Equity $7,348 $7,348 $7,348 5 page 47

48 Dickey/Sargent Counties (ND052) Ellendale, ND Entity Wide Revenue and Expense Summary Submission Type: Unaudited/No Audit Fiscal Year End: 12/31/ Housing Choice Vouchers Subtotal Total Unit Months Available Number of Unit Months Leased Excess Cash Land Purchases Building Purchases Furniture & Equipment - Dwelling Purchases Furniture & Equipment - Administrative Purchases Leasehold Improvements Purchases Infrastructure Purchases CFFP Debt Service Payments Replacement Housing Factor Funds page 48