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HRHA financial report: budgets steady, HUD grant delays and voucher management prompt caution
Summary
HRHA reported income above projections and expenses below budget overall; staff flagged a delayed HUD service coordinator grant that could force program cuts by fall if not released, and discussed housing choice voucher reserves, staff vacancies and potential payment standard changes.
The Harrisonburg Redevelopment and Housing Authority on May 21 received and approved financial and management reports showing overall income ahead of projections and expenses below budget, but staff warned of two program-level risks: a delayed HUD-funded service coordinator grant and a tighter Housing Choice Voucher (HCV) budget authority position.
Michael, executive director, told the board that most programs are building reserves and that overall spending is under projections. He said the authority has not yet received approximately $90,000 in a HUD-funded service coordinator grant; HUD staff have told HRHA the funds exist but the agency has not yet approved distribution.
Staff said they will self-fund the service coordinator program in the near term and monitor the situation, but if the grant has not been released by September or October the authority would likely have to consider discontinuing that service. Michael described…
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