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Housing authority budget shows $224,000 draw on reserves; staff to use consultants to rebalance lines
Summary
The HACN budget for the fiscal year ending 06/30/2027 shows revenues of $881,000 and expenditures of $1,100,000, producing a projected $224,000 use of reserves. Staff plan consultant-assisted reclassification of some capital expenditures and other adjustments to reduce the apparent shortfall.
Staff presented the HACN (Housing Authority of the City of Needles) budget for the fiscal year ending June 30, 2027, saying revenues are projected at $881,000 while expenditures total $1,100,000, which would reduce reserves by approximately $224,000.
The executive director told commissioners the increase in personnel and benefit costs followed bringing housing authority employees onto city payroll. 'We pulled down the total $195,000 at the beginning of the year,' the director said, citing a capital-fund drawdown used to smooth cash flow. The director said staff will work with an outside consultant to ensure expenditures are charged to the correct silos (for example, capital funds for modernization) and to try to trim operating costs.
Commissioners asked whether the housing authority has a formal reserve target; staff said there is no specific reserve goal for the housing authority and noted a federal concern that having excessive reserves can prompt HUD to reallocate funds. Staff said they may request shortfall assistance (the meeting mentioned a $120,000 target figure) if accounting corrections and program adjustments do not close the gap.
