10/9/1997 HOUSING AUTHORITY Minutes

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r Minutes of the Meeting of the lashpe Housing Authority Board of Commissioners October 9,, 1997 The meeting was called to order at 5:30 p.m. and a quorum declared with the following members present: Daren A. Rudd, Jessie Ferr ino, Marie Younger, Constance Mills, and Stu Peoples. Also in attendance were Carolyn A. Reed, Executive Director, Cheryl Burke and Carol Redmond; representing the Resident's Association and Toni Joy, Fee Accountant. Secretary's Report: notion was made by Mr. Peoples and seconded by Ms. Fennino to accept the Minutes of the Meeting held on September 11, 1997. The motion was adopted. Treasurer's Report: Accounts payable and account balances were distributed for review and approval. 1s. Reed advised that all 667-1 rents are current and up to date. Three 705 residents are on a court- ordered repayment plan--of the three, one has cured, one has brought her balance down from 1,oto to $346, and the other resident 1s scheduled to go back to court for the execution. Tom Joy was thea asked to present the FY '98 budget. He prefaced his remarks by indicating the fiscal year ending June 30, 1997 was very good. The Mashpe Mousing Authority, without State subsidy showed a $7,624 profit. After calculating subsidy we were entitled to and received a subsidy of$2,801 which is extremely unique. our budget was under in the Non-Utility category-- budgeted at $67,000, spending $57,000. we showed a profit of approximately $10,400 before non-routine expenses--expended $4,900 in extraordinary mwntena.n es and $1,500 for equipment replacement, realizing approximately $4,,000 profit after all non-routine expenses which was transferred into our operating reserve. our operating reserve is $37,000 maximum reserve for our housing authority is $46,000 and rninirnum is $15,000), which is very good. Tom thea explained the budget, which is basically the sane as last year. Some of the major differences in the budget guidelines were: bottorn line non-utility spending levels will be level funded,DHCD will allow for some restricted out of state travel; expense breakdown by program will be required by 6/30/98 year end, and, mileage reimbursement is raised from $.22 to $.25 per mile- Tom r e_Worn highlighted budget as follows--requested $ ,60 for extraordinary maintenance(which includes $600 for replacement of fire extinguishers and $3,000 for unit turnover); and,.�1,70o for replacement of equipment refrigerators--2 for handicap units @ $500 each arra 2 regular @$350 each). f