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HomeMy WebLinkAbout1990-11-28 EHA BUDGET MEETINGI. II. III. ENGLEWOOD HOUSING AUTHORITY BUDGET/FINANCE MEETING NOVEMBER 28, 1990 CALL TO ORDER The Budget/Finance Meeting of the Englewood Housing Authority was called to order at 6:35 p.m. on Wednesday, November 28, 1990, by Chairman Thomas J. Burns, at 3460 South Sherman Street, Suite 103, Englewood, Colorado, 80110. Members Present: Members Absent: Also Present: Thomas J. Burns, Chairman Roger Koltay, Commissioner Bradley Zieg, Commissioner R. J. Berlin, Vice Chairman Norleen Norden, Commissioner Paul Malinowski, Executive Director Mary A. Ryan, Recording Secretary Anne Keane, HUD Intern DISCUSSION ITEMS, MOTIONS, AND RESOLUTIONS A. Adoption of Resolution No. 18, Series of 1990, Approving Revised Low Rent Public Housing Operating Budget for Fiscal Year ending December 31, 1990. Discussion ensued. regarding the fiscal status of the Low Rent Public Housing Program. Different line items were discussed. The Executive Director explained why the Low Rent Public Housing Operating Budget for FY 1990 needed to be revised. He stated that the only audit finding of the audit for the fiscal year ending December 31, 1989, was that the EHA ran over "control" budget line items (subtotals such as "Utility Expenses") in the 1989 Public Housing Budget. To prevent a recurrence of this finding in the next year's audit, he presented a proposed, revised Public Housing 1990 Operating Budget to submit to HUD. nm1/boaraninutes/91budgetmeeting EHA Budget/Finance Meeting 11/28/90 Commissioner Zieg questioned the deficit in the Surplus line item. Discussion ensued regarding "Other Cash In" and "Insurance Proceeds" and the HUD Operating Subsidy requested for FY '90. Lengthy discussion ensued regarding what CIAP funds were and when they were used by a PHA in regards to deferred maintenance work. The PILOT Payment was also discussed. The possibility of Simon Center contributing all or a portion of this payment to the City of Englewood was discussed at length. It was mentioned that some cities waive the PILOT Payment. Anne Keane, HUD Intern, did extensive work during her week's stay with the EHA at the Executive Director's request which detailed what the EHA's Low Rent Public Housing Program was spending on various line items, such as maintenance expense, utility expense, general expenses, and nonroutine expenses. Graphs done by Ms. Keane which showed how the EHA's expenses on these line items compared to what other local PHAs were spending were handed out to the Commissioners. Lengthy discussion followed regarding the extensive data presented by Ms. Keane, how the EHA was impacted by these line items and possible solutions to bring the EHA's expenses in certain of these line items down. IT WAS MOVED BY COMMISSIONER ZIEG TO ADOPT RESOLUTION NO. 18, SERIES 0~ 1990 1 APPROVING THE REVISED FY 1990 PUBLIC HOUSING OPERATING BUDGET AS PRESENTED. COMMISSIONER KOLTAY SECONDED THE MOTION. Ayes: Nays: Abstained: Absent: Burns, Koltay, Zieg Hone Hone Berlin, Norden The Chairman declared the motion passed. -2- EHA Budget/Finance Meeting 11/28/90 B. Adoption of Resolution No. 19, Series of 1990, Approving Consolidated Agency Budget for Fiscal Year ending December 31, 1991. Discussion ensued regarding the large amount in line items for cleaning and decorating, especially at Orchard Place. The Executive Director explained that the decorating was for continuing to paint units which had not been repainted since Orchard Place was initially occupied. He further explained that the cleaning costs from two years ago increased because of more frequent, thorough, janitorial work being done at that building. He stated resident satisfaction had increased when the building was kept cleaner. Also discussed was the overall projected surplus line item for the entire agency. Lengthy discussion ensued regarding ways to increase revenues. Commissioner Zieg suggested that better investing could produce more interest income. The use of an outside agency to do the investing for the Authority was discussed. Also discussed was HUD's extensive regulations regarding how PHAs may invest their reserve funds. Further discussion concerned the projected deficit in the Office Building budget. It was decided that a donation from Simon Center reserves to the Office Building fund in the amount of $10,568 would be done to prevent the deficit. The Executive Director handed out the General Ledger Balance Sheets as of November 1, 1990. He pointed out that this shows the EHA's books completely up-to-date. Commissioner Zieg stated he wanted to see an increase in interest income for the entire agency of two percent, or $31,000. He felt that it was not fair for the EHA Board of Commissioners to expect the EHA staff to be the agency's investment counselor, and we should explore seeking such a counselor. -3- EHA Budget/Finance Meeting 11/28/90 IT WAS MOVED BY COMMISSIONER ZIEG TO ADOPT RESOLUTION HO. 19, SERIES OF 1990, APPROVING THE ENGLEWOOD HOUSING AUTHORITY CONSOLIDATED AGENCY BUDGET FOR THE FISCAL YEAR ENDING DECEMBER 31, 1991. COMMISSIONER KOLTAY SECONDED THE MOTION. Ayes: Nays: Abstained: Absent: Burns, Koltay, Zieg None None Berlin, Norden The Chairman declared the motion passed. Commissioner Koltay stated that the City Council of Englewood had approved the 1991 city budget and approved a $500,000 item for seed money to improve housing stock in the city of Englewood. He stated that the Executive Director had submitted some ideas to the Community Development Department on the new housing program. The Executive Director stated that Richard Wanush, Director of Community Development, had asked him to present one idea from the ideas discussed as the recommended program to be administered by the EHA. The Executive Director also stated he would recommend the amendment of the Memorandum of Understanding to include the administration of this proposed program. The Executive Director thanked Anne Keane for her work on the researching of line items within the EHA's budget. IT WAS MOVED BY COMMISSIONER KOLTAY TO ADJOURN THE ENGLEWOOD HOUSING AUTHORITY FISCAL YEAR 1991 BUDGET AND FINANCE MEETING HELD NOVEMBER 28, 1990. Mary A. Ryan, ·Recording Secretary -4-