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Housing Authority financial report: stable budgets but federal funding uncertainty and tenant delinquencies noted
Summary
Staff reported monthly financials generally in line with budget but flagged uncertainty around HUD continuing resolutions and pulled CoC awards; the housing choice voucher program remains funded but waiting list closed and rent delinquencies are rising at some properties.
At its March 19 meeting the Harrisonburg Housing Authority reviewed financial reports for January and February and approved the reports by voice vote.
Staff presented two months of financials and said most lines were near or below budget, though several specific items were higher because of billing timing or one-time payments (for example, a full year lease payment for a security camera system that flagged a maintenance budget as high). Overall, expenses were reported as less than budgeted year to date in many programs.
Staff reported the Housing Choice Voucher (HCV) program was using reserve funds to offset higher Housing Assistance Payments early in the year and that a continuing resolution in Congress had guaranteed level funding for the program, but staff cautioned that the resolution included unusual language allowing the administration to reallocate funds. Staff said that as-of-now HCV administration fees are being funded at an estimated 92% (down from a prior year figure reported at 94%), and the HCV waiting list remains closed.
Staff also reported uncertainty around Continuum of Care (CoC) awards: the housing authority received a notice of award but said the awarding agency pulled award letters and agreements to add new language, including a contested provision on an "equal access" rule; staff said grantees are waiting for clarified, reissued agreements and that spending timelines run to June 30.
Commissioners and staff discussed tenant accounts receivable and delinquencies. Staff noted delinquent balances at one property were over $63,000 in January; management said the authority is offering repayment plans and limiting evictions where tenants demonstrate partial payments, but stressed some accounts are moving to legal collections if current rent is not paid plus a repayment amount toward the prior balance.
Other operational updates included reduced emergency work orders indicating a functioning preventive maintenance program and continued efforts to reduce unit turnover time; staff said unit vacancies had decreased from double digits in January to single digits in February, with multiple units ready for occupancy in the most recent period. The board approved a motion acknowledging year-end budget overruns in certain funds (notably HCV HAP costs and component units) and accepted management reports.
The board acknowledged a Family Self-Sufficiency (FSS) program participant who graduated to homeownership and praised property and program staff for leasing and maintenance work during challenging winter weather.
