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Housing Authority reports major transfer of sale proceeds and account balances
Summary
Secretary Leary reported account balances and large wired transfers tied to property sales: $2,583,904.29 wired to escrow, first installment from property sale of $5,930,794.17 wired to HACA, and an ICS Sweep Account balance of $5,616,941.26.
The Secretary presented April financial statements showing several large movements related to recent property transactions. The minutes record a wire of $2,583,904.29 to escrow and the first installment from the sale of properties totaling $5,930,794.17 was wired to HACA; those funds were moved into an ICS Sweep Account with a balance of $5,616,941.26. The PHA checking account at First Montana had $32,321.69 and a Money Market balance of $200,000.00.
Total savings and investments were reported as $5,849,262.95 and delinquent accounts totaled $3,069.40 (down from $8,873.95 the previous year). For Pintlar Apartments, the general fund balance was $169,434.51 (net $156,082.01 after accounting for a siding and windows loan of $13,352.50); combined savings plus checking totaled $184,609.98.
