Title
Body
MEMORANDUM
TO: Board of Housing Commissioners
FROM: Crystal Markytan, Social Services Director
DATE: June 27, 2017
SUBJECT: Approve the Revised Lake County Housing Commission Section 8 Housing Choice Voucher Program Budget for Fiscal Year 2016/2017, Providing Staff with a Minute Order.
EXECUTIVE SUMMARY:
As you are aware, the Section 8 Housing Choice Voucher Program annual budget and any recommended adjustments must be submitted to the Board of Housing Commissioners for approval. In keeping with this requirement, we are providing your Board with a revised Fiscal Year 2016/2017 budget spreadsheet detailing the changes to both revenue and expenditures for the program.
The Fiscal Year 2016/2017 budget spreadsheet includes the proposed budget previously approved by your Board as well as the recommended changes. These changes reflect the actual activity in the Section 8 Program. Over the past year we have had significant turnover of vouchers, which is due in part to focusing our services on disabled seniors.
Although there has been very limited availability of rentals in our county, our Section 8 staff has worked very hard to ensure we maintain our lease up rate.
In working with our contracted accountants, Lindsey, we have made minimal changes to budgeted line items to include an additional account related to Family Self-Sufficiency.
FISCAL IMPACT: __ None _X_Budgeted __Non-Budgeted
Estimated Cost: $1,651,559.00
Amount Budgeted: $1,651,559.00
Additional Requested:
Annual Cost (if planned for future years):
FISCAL IMPACT (Narrative):
This budget has no impact on the county General Fund. All Section 8 costs are paid for with federal funds from the United States Department of Housing and Urban Development.
STAFFING IMPACT (if applicable): None.
Recommended Action
RECOMMENDED ACTION:
We recommend that your Board approve the Revised Lake County Housing Commission Section 8 Housing Choice Voucher Program Budget for Fiscal Year 2016/2017, providing staff with a Minute Order.