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Housing Authority financial report: PHA accounts show large sweep balance, delinquencies down from last year
Summary
The board reviewed March financial statements: PHA checking showed -$7,406.40 (deposit lag), Money Market $200,000, ICS Sweep $2,354,775.60, total savings/investments $2,547,369.20, and delinquent accounts $2,004 (down from $9,145.53 one year prior). Pintlar savings and delinquency figures were also reported.
Treasurer and staff provided the March financial statements in advance of the meeting. Secretary Kaitlin Leary reported the PHA checking account at First Montana Bank had a balance of -$7,406.40 attributed to deposit lag; the Money Market balance was $200,000.00 and the ICS sweep account balance was $2,354,775.60, for total savings and investments of $2,547,369.20. Delinquent accounts totaled $2,004.00 compared with $9,145.53 at the same time last year.
For the Pintlar Apartments, Leary reported a General Fund balance of $171,456.99 (which includes a siding and windows loan amount; without the loan the account would be $158,104.49 and the loan $13,352.50). The Pintlar combined savings and checking totaled $191,028.96 and delinquent accounts were $126.00 (compared with $396.00 last year).
The board did not take separate action on the financial statements beyond review and acceptance via standard meeting process; the figures will inform ongoing budget and RAD project planning.
