File #: 17-763    Version: 1 Name:
Type: Information/Discussion Item Status: Agenda Ready
File created: 4/4/2017 In control: Housing & Redevelopment Authority
On agenda: 4/17/2017 Final action:
Title: First Quarter Financial Report
Attachments: 1. 1st Qtr Revenue & Expense Report

DATE:                     April 17, 2017

 

TO:                                           Members of the Housing & Redevelopment Authority

 

FROM:                     Janine Atchison, Housing Coordinator

 

Title

First Quarter Financial Report

 

Body

SUMMARY:

Review first quarter financial report.

 

BACKGROUND:

The Housing and Redevelopment Authority (HRA) requested to receive quarterly reports regarding financial status. 

 

ANALYSIS:

Current rental revenues are slightly less than budgeted due to the upper unit at 517 Washington St S remaining vacant during the first quarter.  The rent to be paid by the Community Action Center for the remainder of 2017 is less than the budgeted amount which will continue the gap between budgeted rental revenue and actual rental revenue for the rest of the year.  The 2018 budget will be updated with the new monthly rental amounts.