Santa Rosa Housing Authority hears midyear financial update; staff outlines federal funding risks and local reserve options

Kate Goldfein, administrative services officer for the Housing and Community Services Department, presented the Housing Authority’s quarter‑2 financial update for the fiscal year 2024–25 (through Dec. 31, 2024), saying, “We are trending well in all areas.”

Goldfein told commissioners that, while dollar expenditures are higher than last year at the same point, the Authority’s percentage of budget spent in most categories remains consistent with prior years. She said administration expenses are being used at roughly the same rate as last year and that subrecipient spending has caught up after low first‑quarter activity.

The presentation corrected an error in the meeting memo: the remaining loan budget was reported as $1,800,000 but the correct remaining budget is $3,200,000 after a late December journal carryover adjustment. Goldfein said those funds are largely already committed to developers and that staff expects most to show as “committed” in the quarter‑3 update as loan documents are finalized.

Goldfein reported nearly $18 million expended in housing assistance payments year‑to‑date—about $2.9 million per month across programs, up from an average of…