Audit - 2009/2010 1
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HOUSING AUTHORITY OF THE CITY OF SALINA
1 FINANCIAL STATEMENTS
1 AND
SUPPLEMENTAL INFORMATION
WITH
1 INDEPENDENT AUDITOR'S REPORT
FOR THE YEAR ENDED JUNE 30, 2010
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Dennis J. Edwards, CPA, P.A.
608 New.jersey - (Box 461 • 1 -lotton, XS 66436
(620) 433-7199
January 18, 2011
Board of Commissioners
Housing Authority of the City of Salina
Salina, Kansas
Members,
In planning and performing our audit of the financial statements of the Housing Authority of the
City of Salina as of and for the year ended June 30, 2010, in accordance with auditing
standards generally accepted in the United States of America, we considered the Housing
Authority of the City of Salina's internal control over financial reporting (internal control) as a
basis for designing our auditing procedures for the purpose of expressing our opinion on the
financial statements, but not for the purpose of expressing an opinion on the effectiveness of the
Company's internal control.
However, during our audit we became aware of several matters that are opportunities for
strengthening internal controls and operating efficiencies. We previously reported on the
Housing Authority's internal control in our report dated January 18, 2011. This report does not
affect our report dated January 18, 2011 of the financial statements of the Housing Authority of
the City of Salina.
Quality Control
During our exam, we became aware there was not a system in place requiring the review of
tenant files in the Public Housing Program. Having a strong QC program will help ensure the
program will operate at a high level of compliance. We recommend the Housing Authority
develop a quality control program for review of tenant files similar to the program currently in
operation in the Housing Choice Voucher Program.
Staff Training
During our exam we found a few inconsistencies with how rents were calculated between the
Housing Choice Voucher Program and the Public Housing Program. In order to operate these
programs efficiently and effectively, we would suggest the Housing Authority develop regular
training for rent calculation through both in-house and industry offered training.
Member PCPS/AICPA Alliance for CPA Firms
Members of the American Institute of Certified Public Accountants and Kansas Society of Certified Public Accountants
Year-end Accruals
The Housing Authority maintains its books and records on the cash basis during their fiscal year
and makes adjustments at year-end to comply with GAAP based financial rules. At June 30,
2010, the Housing Authority did not record any accounts payable to vendors. During a search
for unrecorded liabilities, it was determined that the Housing Authority had approximately $8,000
of accounts payable that were unrecorded. Management has provided an adjusting entry to the
financial statements to record this liability. In order to ensure this will not recur in future periods,
management should develop an internal checklist of year-end accruals to be utilized to aid in
the preparation of the financial statements.
We will review the status of these comments during our next audit engagement. We have
already discussed many of these comments and suggestions with various Company personnel,
and we will be pleased to discuss them in further detail at your convenience, to perform any
additional study of these matters, or to assist you in implementing the recommendations.
We would like to thank the staff and management of the Salina Housing Authority for their
assistance and support during our audit.
Thank you,
�eAulza.S. &a „ao, c3PQ. E.a.
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' HOUSING AUTHORITY OF THE CITY OF SALINA
TABLE OF CONTENTS
PAGE
' Financial Section
Independent Auditors Report 1 -2
' Management Discussion &Analysis 3-9
' Statement of Net Assets 10
Statement of Revenue, Expenses and Changes in Net Assets 11
' Statement of Cash Flows 12 - 13
Notes to Financial Statements 14-20
Special Reports
' Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards 21 - 22
' Report on Compliance with Requirements Applicable
to Each Major Program and on Internal Control Over
' Compliance in Accordance with OMB Circular A-133 23 - 24
Schedule of Findings and Questioned Costs 25
' Schedule of Prior Year Audit Findings 26
' Supplemental Information
Financial Data Schedules 27 - 38
' Schedule of Expenditures of Federal Awards 39
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Dennis 5. Edwards CPA, P. .
EJ1 608 New Jersey Bo.�461 • ,ifotton, KS 66436
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(620) 433-7199
INDEPENDENT AUDITOR'S REPORT
' Board of Directors
Housing Authority of the City of Satins
Salina. Kansas
' I have audited the accompanying statement of financial position of the Housing Authority of the City
of Salina, HUD Project KS079, as of June 30, 2010, and the related statement of activities, and cash
flows for the year then ended. These financial statements are the responsibility of the
' Organization's management. My responsibility is to express an opinion on these financial
statements based on my audit.
' I conducted my audit in accordance with auditing standards generally accepted in the United States
of America and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that I
' plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes assessing the
' accounting principles used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. I believe that my audit provides a reasonable basis for
my opinion.
' In my opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the Housing Authority of the City of Salina as of June 30, 2010, and the changes
in its net assets and cash flows for the year then ended in conformity with accounting principles
' generally accepted in the United States of America.
The Management Discussion and Analysis on pages 3 through 9 is not required part of the basic
' financial statements but is supplementary information required by the Government Accounting
Standards Boards. I have applied certain limited procedures, which consisted principally of inquiries
of management regarding the methods of measurement and presentation of the supplementary
' information. However. I did not audit the information and express no opinion on it.
In accordance with Government Auditing Standards, I have also issued my report dated January 18,
' 2011, on my consideration of the Housing Authority of the City of Salina's internal control over
financial reporting and my tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements and other matters. The purpose of that report is to describe the
scope of my testing of internal control over financial reporting and compliance and the results of that
testing, and not to provide an opinion on the internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with Government
' Auditing Standards and should be read in conjunction with this report in considering the results of
the audit.
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Member PCPS/AICPA Alliance for CPA Firms
Members of the American Institute of Certified Public Accountants and Kansas Society of Certified Public Accountants
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My audit was performed for the purpose of forming an opinion on the basic financial statements
taken as a whole. The information presented as supplemental information in the table of contents is
' presented for purposes of additional analysis and is not a required part of the basic financial
statements. The accompanying schedule of federal awards is presented for purposes of additional
analysis as required by U.S. Office of Management and Budget Circular A-133, "Audits of States,
Local Governments, and Non-Profit Organizations," and is not a required part of the basic financial
statements. Such information has been subjected to the auditing procedures applied in the audit of
the basic financial statements and, in my opinion, is fairly stated, in all material respects, in relation
to the basic financial statements taken as a whole.
D.Q. Ec(cARULLOLA CPA PA
Holton, Kansas
January 18, 2011
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' Housing Authority of the City of Salina, Kansas
Management's Discussion & Analysis (MD&A)
' June 30, 2010
' Management's Discussion& Analysis (MD&A) is an element of the reporting model adopted by the
Governmental Accounting Standards Board (GASB) in their Statement No. 34 Basic Financial
Statements—and Management's Discussion &Analysis—for State and Local Governments issued in June 1999.
Our discussion and analysis of the financial performance for the Housing Authority for the City of
' Salina,Kansas, provided an overview of the financial activities for the fiscal year ended June 30,
2010. Please read the MD&A in conjunction with the Housing Authority's financial statements.
111 Financial Highlights
• Assets:
Total assets increased by$44,652 from$7,813,351 as of June 30,2009 to $7,858,003 as of
June 30, 2010. Current assets decreased by $98,902 when compared to 2009 while net
capital assets increased by$149,978.
• Liabilities:
Total liabilities were $312,291 as of June 30, 2009,but decreased to $278,000 as of June 30,
2010. Due to the decrease in accounts payable.
• Revenue:
' Total revenue increased from $2,010,346 for the year ended June 30, 2009, to $2,089,586 for
the year ended June 30, 2010, an increase of$79,240. Tenant revenue increased $29,745;
other income decreased $81,545,while program grants increased $118,149 and fraud
' recovery decreased$3,003. Capital grants increased$158,332 over 2009 making 2010
receipts $383,404.
• Expenses:
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Total operating expenses increased from 2009 to 2010. Total operating expenses were
' $2,209,086 for the year ended June 30, 2009, and increased $171,926 to $2,381,012 for the
year ended June 30, 2010. Administrative expenses increased $54,523 or 12%,Maintenance
increased $26,813 and HAP payments increased 8% or$78,696, other expense categories
decreased in 2010 with Tenant services decreasing$12,106 and utilities decreasing$766.
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Housing Authority of the City of Salina, Kansas
Management Discussion &Analysis
For accounting purposes, the Housing Authority is categorized as an enterprise fund. Enterprise
funds account for activities similar to those found in the private business sector where the
' determination of net income is necessary or useful to sound financial administration. Enterprise
funds are reported using the full accrual method of accounting in which all assets and all liabilities
associated with the operation of these funds are included on the balance sheet. The focus of
enterprise funds is on income measurement, which, together with the maintenance of equity, is an
important financial indication.
Overview of Financial Statements
This annual report includes this Management Discussion &Analysis report, the Basic Financial
' Statements and the Notes to the Financial Statements. The Housing Authority's financial
statements are presented as fund level financial statements because the Housing Authority only has
proprietary funds.
' The financial statements of the Housing Authority report information of the Housing Authority
using accounting methods similar to those used by private sector companies. These statements offer
' short-term and long-term financial information about the Housing Authority.'s activities. The
Statement of Net Assets includes all the Housing Authority's assets and liabilities and provides
information about the nature and amounts of investments in resources (assets) and obligations to
' the Housing Authority's creditors (liabilities). It also provides the basis for evaluating the capital
structure of the Housing Authority and assessing the liquidity and financial flexibility of the Housing
Authority.
All of the current year's revenues and expenses are accounted for in the Statement of Revenues,
Expenses and Changes in Net Assets. This statement measures the success of the Housing
' Authority's operations over the past year and can be used to determine whether the Housing
Authority has successfully recovered all its costs through its user fees and other charges, profitability
and credit worthiness.
' The Statement of Cash Flows reports cash receipts, cash payments, and net changes in cash resulting
from operating, investing and financing activities and provides answers to such questions as where
did cash come from,what was cash used for and what was the change in the cash balance during the
reporting period.
1 Notes to the financial statements provide additional information that is essential to a full
understanding of the data provided in the basic financial statements.
The section Supplemental Information Required by HUD contains the Financial Data Schedule
(FDS). HUD has established Uniform Financial Reporting Standards that require the Housing
Authority to submit financial information electronically to HUD using the FDS format.
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Housing Authority of the City of Salina, Kansas
Management Discussion Sc Analysis
IFinancial Analysis
' One of the most important questions asked about the Authority's finances is, "Is the Housing
Authority as a whole better off, or worse off, as a result of the achievements of the reported fiscal
year?" The information presented in this Management Discussion &Analysis is to assist the reader
' in answering this question.
The Housing Authority's basic financial statements are the Statement of Net Assets and the
I Statement of Changes in Net Assets. The Statement of Net Assets provides a summary of the
Housing Authority's assets and liabilities as of the close of business on June 30, 2010. The
Statement of Changes in Net Assets summarizes the revenues and sources of those revenues
I generated during the year ended June 30, 2010 and the expenses incurred in operating the Housing
Authority for the year ended June 30, 2010.
I The Housing Authority accounts for its housing activities in several programs. The main Housing
Authority programs are a low rent program that provides housing for qualified tenants, a capital
fund program that the Housing Authority uses for improvements to its low rent property, and a
I housing choice voucher program that provides rental assistance to tenants living in private housing.
The following analysis focuses on the net assets and the change in net assets of the Housing
Authority as a whole and not the individual programs.
INet Assets June 30,
I Increase
2010 2009 (Decrease)
Current Assets,Net of Inter-program $1,563,821 $1,662,723 $(98,902)
Capital Assets, Net 6,292,004 6,142,026 149,978
Non-Current Assets 2,178 8,602 (6,424)
Total Assets $7,858,003 $7,813,351 $ 44,652
ICurrent Liabilities, Net of Inter-program $232,198 $252,166 $(19,968)
Non-Current Liabilities 45,802 60,125 (14,323)
ITotal Liabilities $278,000 $312,291 $(34,291)
Net Assets:
I Invested in Capital Assets, Net of Debt $6,292,004 $6,142,026 $149,978
Restricted Assets 152,966 200,362 (47,396)
Unrestricted Assets 1,135,033 1,158,672 (23,639)
ITotal Net Assets $7,858,003 $7,813,351 $ 78,943
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Housing Authority of the City of Salina, Kansas
Management Discussion&Analysis
Assets:
' Total current assets were $1,662,723 as of June 30, 2009 and decreased by $98,902 to $1,563,821 as
of June 30, 2010. The balance of cash, including investments, decreased by $57,143 as of June 30,
2010. This decrease relates to money paid out for the restoration of damaged property from cash
' that was received from insurance claims in the prior year. Decreases in receivables and prepaid
expenses and a small increase in inventories also contributed to the overall decrease in current assets.
Net capital assets increased to $6,292,004 as of June 30, 2010 from $6,142,026 as of June 30, 2009.
This increase of$149,978 in net capital assets is comprised of capital asset additions of$383,404,
and current year depreciation expense of$233,427.
Liabilities:
' Total current liabilities decreased from $252,166 as of June 30, 2009, to $232,198 as of June 30,
2010, an decrease of$19,968. The amounts owed to vendors decreased by $26,187 from $33,945 as
of June 30, 2009 to $7,758 as of June 30, 2010.
Net Assets: •
' Net assets increased by$78,943 as of June 30, 2010 as total revenue of$2,493,295 exceeded total
operating expenses of$2,414,352. For June 30, 2010 there was $152,966 set aside for Restricted
Assets for the Section 8 program. This represents funding that can only used for housing assistance
' payments provided other mandates are followed.
Expendable Fund Balance:
The expendable fund balance of an authority is a measure of liquidity of the entity. If all of the
authority's current assets, less materials inventory, are converted to cash, and the authority pays all
' the current liabilities, the amount of cash left on hand is the expendable fund balance. The
expendable fund balance was $1,121,701 at the end of the 2010 fiscal year.
The number of months in expendable funds is a measure of how many months the authority could
operate under current conditions without any additional income. The number of months in
expendable funds is calculated by dividing the total expenses for the year, less depreciation and HAP
' expense, by twelve (12) to arrive at the average monthly expenses. The expendable fund balance is
then divided by the average monthly expenses to arrive at the number of months expendable fund
balance. The ratio as of June 30, 2010 was 11.78 months.
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Housing Authority of the City of Salina,Kansas
Management Discussion&Analysis
Changes in Net Assets for the Year Ended June 30
Increase
2010 2009 (Decrease).
Revenue:
Tenant Revenue $351,574 $321,829 $29,745
Federal Grants&Subsidy 2,009,938 1,717,563 292,375
Investment Income 20,305 37,490 (17,185)
Other Income 111,478 196,026 (84,548)
Total Revenue $2,493,295 $2,272,908 $220,387
Expenses:
Administrative $501,483 $446,960 $54,523
Tenant Services 93,208 105,314 • (12,106)
Utilities 18,859 19,625 (766)
Routine Maintenance 310,675 283,862 26,813
Protective Services 482 - 482
Insurance Premiums 113,055 108,726 4,329
Other General Expenses 71,521 48,445 23,076
Casualty Losses 33,340 170,743 (137,403)
Housing Assistance Payments (HAP) 1,038,301 959,605 78,696
Depreciation 233,427 236,549 (3,122)
Total Operating Expenses 2,414,352 2,379,829 $34,523
Increase (Decrease) in Net Assets $78,943 ($106,921) $185,864
Revenue:
The authority has two basic sources of revenue. Rent and other tenant charges and funds received
from the Department of Housing and Urban Development(HUD) in the form of operating
subsidies, tenant assistance,and capital improvement grants.
Tenant revenue increased by approximately 9% for the current year from$321,829 for the year
ended June 30, 2009 to$351,574 for the year ended June 30,2010. The number of unit months
leased was down slightly for 2010. Tenant rents are also affected by the tenant's reported income
and other tenant attributes. The amount of rent that a tenant pays increases as the tenant's income
increases.
Federal grants and subsidy revenue increased from$1,717,563 for the year ended June 30,2009,to
$2,009,938 for the year ended June 30,2010, for an increase of$292,375. Section 8 HAP assistance
increased$78,696, the HAP assistance is also determined by tenants reported income and other
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Housing Authority of the City of Salina, Kansas
Management Discussion&Analysis
1 tenant attributes. HAP assistance will decrease as the tenant's income increases. Capital grant
revenue increased by $158,332.
' Investment income decreased $17,185 as the amount earned for the year ended June 30, 2009 was
$37,490 and $20,305 for the year ended June 30, 2010. The rate of return on investments declined
which attributed to the decrease.
Expenses:
Administrative expenses increased by$54,523 from$446,960 for the year ended June 30,2009 to
$501,483 for year ended June 30, 2010. Tenant services expenses decreased by $12,106. Also
utilities expense decreased by 4% from $19,625 for the year ended June 30, 2009 to$18,859 for the
year ended June 30, 2010. Routine maintenance expenses increased by $26,813, from $283,862 for
fiscal year 2009 to $310,675 for fiscal year 2010.
Capital Assets:
At June 30,2010 the Housing Authority had $6,292,004 invested in net capital assets. This amount
represents a net increase of$149,978 in net capital assets when compared to net capital assets as of
June 30, 2009.
Capital expenditures for FY 2010 were to replace a maintenance truck with an equipment van so the
maintenance man can keep all his equipment and supplies dry and secure. The riding mower was
' replaced with a Grasshopper riding mower which has a zero turning radius and will be used for
snow removal when the blade is purchased in FY2011. A tree power saw was purchased to take the
place of the one stolen.
During the current year, some work in progress projects were completed and certain assets of
$100,998 were transferred from construction in progress to other capital assets categories.
The Housing Authority still has approximately $32,204 in Capital program funds to spend on future
improvements.
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' Housing Authority of the City of Salina, Kansas
Management Discussion &Analysis
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I Capital Assets at Year End
(Net of Accumulated Depreciation)
June 30,
I Increase
2010 2009 (Decrease)
Land $1,481,890 $1,481,890 $0
I Buildings 6,183,411 6,101,638 81,773
Furniture, Equipment&Machinery, Dwellings 32,789 32,789 0
Furniture, Equipment&Machinery,Ad[nin 319,868 304,449 15,419
I Leasehold Improvements 593,716 573,941 19,775
Construction in Progress 664,048 400,270 263,778
Subtotal 9,278,382 8,894,978 $383,404
I Accumulated Depreciation (2,986,378) (2,752,951) (233,427)
Net Capital Assets $6,292,004 $6,142,026 $149,978
I Debt
IAs of June 30, 2010, the Authority does not have any outstanding debt, bonds, mortgages, or notes
payable. There are some non-current liabilities as of June 30, 2010, for employee compensated
I absences of approximately$4,514 and escrow amounts of$41,288 held for participating tenants of
the FSS escrow program.
IEconomic Factors
The Housing Authority is dependant upon HUD for the funding of operations; therefore, the
I Housing Authority is affected both by federal budget and local economic conditions. The funding of
programs could be significantly affected by HUD and the 2010 and 2011 federal budgets.
IContacting the Housing Authority's Financial Management
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Our financial report is designed to provide our citizens, taxpayers and creditors with a general
I overview of the Housing Authority's finances and to show the Housing Authority's accountability
for the money it receives. If you have questions about this report or wish to request additional
financial information, contact Larry Pankratz, Executive Director, at the Salina Housing Authority,
I469 S. 5th St., Salina, KS 67402, telephone number 785-827-0441.
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HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO. KS038
I STATEMENT OF NET ASSETS
June 30, 2010
ASSETS 2010
Current Assets
Cash and cash equivalents $ 195,976
I HUD accounts receivable 77,704
Tenant accounts receivable, net 5,549
Other receivables 11,981
I Prepaid expenses and other assets 32,915
Current portion of note receivabe 2,293
Investments 950,486
Inventories 13,375
I Restricted:
Cash and cash equivalents 152,966
Investments 120,576
ITotal current assets 1,563,821
Fixed assets-net of accumulated depreciation 6,292,004
I Non-current Assets
Notes receivable, net of current portion 2,178
' TOTAL ASSETS $ 7,858,003
I LIABILITIES, EQUITY,AND OTHER CREDITS
Current Liabilities
Accounts payable-90 days $ 7,758
Accrued wages/payroll taxes 42,592
I Accrued compensated absences-current 18,055
Accounts payable-other government 19,565
Tenant security deposits 79,288
I Deferred revenues 62,984
Other current liabilities 1,956
Total current liabilities 232,198
I Noncurrent Liabilities
Noncurrent Liabilities-other 41,288
Accrued compensated absences-noncurrent 4,514
ITotal noncurrent liabilities 45,802
Total Liabilities 278,000
I Net Assets
Invested in capital assets net of related debt 6,292,004
Restricted net assets 152,966
I Unrestricted net assets 1,135,033
Total equity and other credits 7,580,003 •
TOTAL LIABILITIES,EQUITY,AND OTHER CREDITS $ 7,858,003
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IThe accompanying notes are an integral part of these finanical statements.
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IHOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO. KS038
I STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS
For the Year Ended June 30, 2010
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REVENUES 2010
' Tenant revenue $ 351,574
Program grants-rent subsidies 1,610,640
Other govemment grants 15,894
I Fraud recovery 10,755
Other income 100,723
Total revenues 2,089,586
IOPERATING EXPENSES
Current
I Administrative 501,483
Tenant services 93,208
Utilities 18,859
Maintenance 310,675
I Protective services 482
Insurance premiums 113,055
Other general 71,521
I Housing assistance payments 1,038,301
Depreciation 233,427
Total operating expenses 2,381,012
IOperating income(loss) (291,426)
Non-operating revenues (expenses)
I Interest income 20,305
Casualty losses-Non-capitalized (33,340)
Non-operating income(loss) (13,035)
I Income(loss) before contributions and transfers (304,461)
Capital grants 383,404
Change in net assets 78,943
INet assets at beginning of the year 7,501,060
Net assets at the end of the year $ 7,580,003
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IThe accompanying notes are an integral part of these financial statements.
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' HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO. KS038
STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPES
For the Year Ended June 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from tenants $ 375,227
Cash received from grants/subsidies 1,611,694
Cash received from other sources 117,902
Cash paid for operating expenditures
Administration (523,312)
Tenant services (93,208)
Utilities (18,859)
' Maintenance (323,629)
Protective services (482)
Insurance premiums (82,595)
Other general (86,359)
Housing assistance payments (1,038,301)
Net cash provided (used) by operating activities (61,923)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Tenant security deposits 6,509
' (Increase)decrease in investments 64,699
Casualty losses-non-capitalized (33,340)
Purchase of fixed assets (383,404)
Cash received from capital grants 383,404
Net cash provided(used) by financing activities 37,868
' CASH FLOWS FROM INVESTING ACTIVITIES
Cash received from interest 23,854
Net cash provided (used) by investing activities 23,854
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (200)
' CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 341,385
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 341,185
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' The accompanying notes are an integral part of these financial statements.
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HOUSING AUTHORITY OF THE CITY OF SALINA, KANSAS
NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2010
NOTE A— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D)
The Authority distinguishes between operating and nonoperating revenues and expenses in its
Statement of Revenues, Expenses and Changes in Net Assets. For this purpose, the
Authority's operating revenues result from providing low-income housing services such as
tenant rent, HUD Section 8 funds earned and other tenant charges. Operating expenses
include the cost attributed to administration, tenant services, utilities, maintenance and
' operations, housing assistance payments and depreciation on capital assets. All revenues and
expenses not meeting these definitions are reported as nonoperating revenues and expenses.
Proprietary Fund Financial Statements include a Statement of Net Assets, a Statement of
revenues, Expenses and Changes in Fund Net Assets, and a Statement of Cash Flows.
Budgetary Process
' The Authority establishes a budget for the fiscal year and is adopted by the Board of
Commissioners.
' Cash and Investments
' The Authority's deposits can only be invested in the following HUD approved investments:
direct obligations of the federal government backed by the full faith and credit of the United
States, obligations of federal government agencies, securities of government-sponsored
agencies, demand and savings deposits, money-market deposit accounts, municipal depository
fund, super now accounts, certificate of deposit, repurchase agreements, sweep accounts,
separate trading of registered interest and principal securities (STRIPS), and mutual funds that
consist of securities purchased from the HUD approved list.
' Accounts Receivable
All receivables are current and therefore due within one year. Receivables are reported net of
' an allowance for uncollectible account and revenues net of uncollectibles. Allowances are
reported when accounts are proven to be uncollectible.
Prepaid Items
Prepaid balances are for payments made by the Authority in the current year to provide services
occurring in the subsequent fiscal year.
Inventory
' Inventories consist of supplies and are recorded at the lower of cost or market on a first-in, first-
out basis.
' Capital Assets and Depreciation
Property and equipment are stated at actual or estimated historical cost, net of accumulated
' depreciation. Contributions of assets are recorded at fair market value at the date donated.
' See Independent Auditor's Report
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' HOUSING AUTHORITY OF THE CITY OF SALINA, KANSAS
NOTES TO THE FINANCIAL STATEMENTS
tJUNE 30, 2010
NOTE A— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D)
1 The Authority generally capitalized assets with a cost of $500 or more as purchases and
construction outlays occur.
' Depreciation has been calculated on each class of depreciable property using the straight-line
method. Estimated useful lives are as follows:
Furniture and fixtures 5-10 years
Equipment 3-10 years
Use of Restricted/Unrestricted Net Assets
When an expense is incurred for purposes for which both restricted and unrestricted net assets
are available, the Authority's policy is to apply restricted assets first.
Due to and Due from Other Funds
' Interfund receivables and payables arise from interfund transactions and are recorded by all
funds affected in the period in which transactions are executed. The balances result from the
time lag between the dates that interfund goods and services are provided or expenditures
occur, transactions are recorded in the accounting system, and payments between funds.
Transfers
' Permanent reallocation of resources between funds of the reporting entity are classified as
interfund transfers.
' Grant Revenue
The Authority, a recipient of grant revenues, recognizes revenues (net of estimated uncollectible
amounts, if any), when all applicable eligibility requirements, including time requirements are
met in accordance with GASB Statement No. 33. Resources transmitted to the Authority before
the eligibility requirements are met are reported as deferred revenue.
Investment Income
' Investment income from pooled cash and investments is allocated monthly based on the
percentage of a fund's average pooled cash and investments balance.
' Compensated Absences
Employees receive all unused vacation time when they terminate as long as they have passed
' their probationary period.
Employees will only receive sick leave upon retirement from the Housing Authority.
' See Independent Auditor's Report
16
' HOUSING AUTHORITY OF THE CITY OF SALINA, KANSAS
NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2010
NOTE A—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D)
Income Taxes
' The Authority is a governmental subdivision of the State of Kansas and is exempt from Federal
and State income taxes.
' Estimates
The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make certain estimates and
' assumptions that affect the reported amounts of certain assets, liabilities, revenues,
expenditures, expenses, and other disclosures. Accordingly, actual results could differ from
those estimates.
' Leases
' The majority of leases and subleases are short-term operating leases.
Schedule of Expenditures of Federal Awards
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Housing Authority of the City of Salina, Kansas and is presented in accordance
with generally accepted accounting principles. The information in this schedule is presented in
' accordance with the requirements of Office of Management and Budget Circular A-133, Audits
of States, Local Governments and Non-Profit Organizations.
NOTE B —CASH AND CASH EQUIVALENTS
At June 30, 2010, the reconciled amount of the agency's deposits was $1,420,004 and the bank
balance was $1,559,852, which includes certificates of deposit. Cash and cash equivalents are
stated at cost which is their fair market value and include all unrestricted investments with the
original maturities of three months or less are considered cash equivalents. It is the policy of the
agency to be secured by collateral valued at market or par, whichever is lower, less the amount
of the insurance provided by the Federal Deposit Insurance Corporation. The agency's deposits
were secured by $1,247,196 FDIC insurance and the balance of $312,656 was secured by
securities pledged by the institution in which they were on deposit.
NOTE C — RESTRICTED CASH AND INVESTMENTS
At June 30, 2010, the agency had $152,966 in HAP equity classified as restricted cash and
another$120,576 in restricted investments made up of tenant security deposits in the amount of
$79,288 and FSS escrow deposits in the amount of$41,288.
See Independent Auditor's Report
17
I
IHOUSING AUTHORITY OF THE CITY OF SALINA, KANSAS
NOTES TO THE FINANCIAL STATEMENTS
IJUNE 30, 2010
NOTE D - PROPERTY AND EQUIPMENT
I Property and equipment is recorded at the cost of acquisition. Depreciation is provided over the
estimated useful lives of the assets as a charge against earnings. Most property and equipment
is acquired with grants from Federal, state, and tribal governments, so no interest costs are
Iusually associated with these acquisitions.
A summary of the property and equipment and the related accumulated depreciation follows:
ISCHEDULE OF CHANGES IN FIXED ASSET ACCOUNTS
Year Ended June 30, 2010
I
Beginning Reclass- Ending
Balance ifications Additions Deductions Balance
Land $ 1,481,891 $ 1,481,891
Buildings 6,101,638 81,223 550 6,183,411
Furn, equip & mach -dwellings 32,789 32,789
Furn, equip & mach -admin 304,449 15,419
-
319,868
Leashold improvements 573,941 19,775 - 593,716
Construction in progress 400,270 (100,998) 367,435 666,707
TOTAL 8,894,978 383,404 9,278,382
Accumulated depreciation (2,752,951) 233,427 - (2,986,378)
NET BOOK VALUE $ 6,142,026 $ - $ 149,978 $ - $ 6,292,004
I
Buildings are depreciated over an estimated useful life of 40 years, land improvements over an
I estimated useful life of 35 years, and equipment over an estimated useful life of 5 to 10 years.
The straight-line method is used in computing depreciation. For the twelve months ended June
30, 2010 the sum of$233,427 was charged against earnings.
INOTE E—ACCOUNTS RECEIVABLE
I At June 30, 2010, the agency has amounts due from tenants in the amount of $21,791. An
allowance for uncollectible accounts in the amount of $4,500 has been established which
management feels is adequate. In addition, the agency has completed all the requirements
necessary to receive $77,704 in grants from the U. S. Department of Housing and Urban
IDevelopment. There are other miscellaneous accounts receivable in the amount of$11,981.
INOTE F — DEFERRED CHARGES
The agency has purchased insurance policies from various insurance companies, of which
I $32,915 was unexpired, pro rata, at June 30, 2010. This is more than the amount that could be
realized upon cancellation of the policies. The agency has purchased commercial insurance
coverage to cover claims arising from the use of private automobiles by employees on agency
I business, automobile property damage and liability, losses from fire and other natural disasters,
employee bond, and director's liability, and workers' compensation. In addition, the agency has
maintenance materials on hand with a cost of$13,375.
ISee Independent Auditor's Report
18
•
' HOUSING AUTHORITY OF THE CITY OF SALINA, KANSAS
NOTES TO THE FINANCIAL STATEMENTS
' JUNE 30, 2010
NOTE G — INTERGOVERNMENTAL REVENUES
' During the twelve months ended June 30, 2010, the agency received $1,994,044 from the U. S.
Department of Housing and Urban Development as operating subsidies, rental assistance and
capital grant funds. These amounts are reflected in the financial statements as
intergovernmental revenues.
NOTE H —ACCOUNTS PAYABLE
' Accounts payable represent amounts due vendors in the normal course of business in the
amount of $50,350, including amounts withheld from employees, and the employer's share of
employee benefits.
' NOTE I —ACCRUED EXPENSES
' Amounts due employees for compensated absences and the related employee benefit
expenses were $22,569. Of this amount, $18,055 represents amounts due to be paid in the
next twelve months, and $4,514 expected to be paid in future periods. The agency also
maintains escrow accounts for tenants who are participating in the Family Self Sufficiency
' Program. As of June 30, 2010, the agency had $41,288 held in these escrow accounts.
NOTE J —TENANT SECURITY DEPOSITS
The agency is holding the sum of $79,288 to secure payment of rents and to assure that
vacated units are left clean and habitable. After a tenant moves out, if there are unpaid rents or
the housing unit must be cleaned or repaired, these amounts are deducted from the deposit and
' the balance is returned to the tenant.
NOTE K— DEFERRED REVENUES
' As of June 30, 2010, the housing authority had received $2,255 of tenant rents for July 2010,
the agency also had $38,697 in insurance proceeds not expended, and the agency had
received $22,032 in Grants that had not been expended at June 30, 2010.
' NOTE L— FEDERAL AND STATE GRANTS
t In the normal course of operations, the agency receives grant funds from various Federal and
State agencies. The grant programs are subject to audit by agents of the granting authority, the
purpose of which is to ensure compliance with conditions precedent to the granting of funds.
Any liability for reimbursement that may arise as the result of these audits is not believed to be
tmaterial.
NOTE M —ADVERTISING COSTS
The Agency has elected to expense all advertising costs as incurred.
See Independent Auditor's Report
19
' HOUSING AUTHORITY OF THE CITY OF SALINA, KANSAS
NOTES TO THE FINANCIAL STATEMENTS
' JUNE 30, 2010
NOTE N - RISK MANAGEMENT
The Authority is exposed to various risks of loss related to torts; theft of, damage to and
destruction of assets, errors and omissions; injuries to employees; and natural disasters for
which the Authority purchases commercial insurance.
During the year ended June 30, 2010, the Authority did not reduce insurance coverage from
levels in place during the prior year. No settlements have exceeded coverage levels in place
' during the past three fiscal years.
NOTE O —ACCOUNTS PAYABLE OTHER GOVERNMENT
As of June 30, 2010, the organization owed $19,565 to the City of Salina for PILOT (Payment in
Lieu of Taxes) expense.
NOTE P — DEFINED BENEFIT PENSION PLAN
Plan description. The Housing Authority of the City of Salina participates in the Kansas Public
t Employees Retirement System (KPERS), a cost-sharing multiple-employer defined benefit
pension plan as provided by K.S.A. 74-4901, et seq. KPERS provides retirement benefits, life
insurance, disability income benefits, and death benefits. Kansas law establishes and amends
benefits provisions. KPERS issues a publicly available financial report that includes financial
statements and required supplementary information. That report may be obtained by writing to
KPERS (400 SE 8th Avenue, Suite 200; Topeka, Kansas 66603-3925) or by calling 1-800-228-
0366.
Funding Policy, K.S.A. 74-4919 establishes the KPERS member-employee contribution rate of
' 4% of covered salary. The employer collects and remits member-employee contributions
according to the provisions of section 414 (h) of the Internal Revenue Code. State law provides
that the employer contribution rate be determined annually based on the results of annual
' actuarial valuation. KPERS is funded on an actuarial reserve basis. State law sets a limitation
on annual increases in the contribution rates for KPERS employers. The employer rate
established by statute for fiscal year July 1, 2009 through June 30, 2010 is 5.54% for July
' through November 2009, 6.54% for December 2009, 7.14% for January through March 2010,
and 6.14% for March through June 2010. The Housing Authority of the City of Salina's
employer contributions to KPERS for the years ending June 30, 2010, 2009 and 2008 were $
32,243, $21,368, and $16,659, respectively, equal to the statutory required contributions for
' each year.
1
' See Independent Auditor's Report
20
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I SPECIAL REPORTS
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Dennis 5'. 2divards, CP,/�, P•t•
608 New Jersey • P.O. Boj461 • J-fofton, KS 66436
I
I (620) 433-7199
I
I REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON
AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
' IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
I To the Board of Commissioners
Housing Authority of the City of Salina
Salina. Kansas
I have audited the financial statements of Salina Housing Authority (a special purpose government)
as of and for the year ended June 30, 2010, and have issued my report thereon dated January 18,
I 2011. I conducted my audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States.
IInternal Control over Financial Reporting
In planning and performing my audit, I considered Salina Housing Authority internal control over
I financial reporting as a basis for designing my auditing procedures for the purpose of expressing my
opinion on the financial statements, but not for the purpose of expressing an opinion on the
effectiveness of Salina Housing Authority internal control over financial reporting. Accordingly, I do
I not express an opinion on the effectiveness of the Organization's internal control over financial
reporting.
A deficiency in internal control exists when the design or operation of a control does not allow
'
management or employees, in the normal course of performing their assigned functions, to prevent,
or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a
I material misstatement of the entity's financial statements will not be prevented, or detected and
corrected on a timely basis.
My consideration of internal control over financial reporting was for the limited purpose described in
I the first paragraph of this section and was not designed to identify all deficiencies in internal control
over financial reporting that might be deficiencies, significant deficiencies, or material weaknesses. I
did not identify any deficiencies in intemal control over financial reporting that I consider to be
Imaterial weaknesses, as defined above.
I
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Member PCPS/AICPA Alliance for CPA Firms
Members of the American Institute of Certified Public Accountants and Kansas Society of Certified Public Accountants
U
Compliance and Other Matters
' As part of obtaining reasonable assurance about whether Salina Housing Authority financial
statements are free of material misstatement, I performed tests of its compliance with certain
provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could
' have a direct and material effect on the determination of financial statement amounts. However,
providing an opinion on compliance with those provisions was not an objective of my audit, and
accordingly, I do not express such an opinion. The results of my tests disclosed no instances of
noncompliance or other matters that are required to be reported under Government Auditing
' Standards.
I noted certain matters that I reported to management of the Salina Housing Authority in a separate
' letter dated January 18, 2011.
This report is intended solely for the information and use of the audit committee, management,
' others within the organization and federal awarding agencies and pass-through entities and is not
intended to be and should not be used by anyone other than these specified parties.
. r
' cA �. c � , CPA-pit
Holton, Kansas
January 18, 2011
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Dennis 5. Edwards, CPA, P..A.
608 .7Vew Jersey • P.O. Bot461 • 7fofton, KS' 66436
' (620) 433-7199
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REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT AND
MATEIAL EFFECT ON EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
To the Board of Commissioners of the
Salina Housing Authority
' Compliance
I have audited the compliance of the Salina Housing Authority (a special purpose government)
with the types of compliance requirements described in the "U.S. Office of Management and
Budget (OMB) Circular A-133 Compliance Supplement" that are applicable to each of its major
federal programs for the year ended June 30, 2010. The Salina Housing Authority's major
' programs are identified in the summary of auditor's results section of the accompanying
schedule of findings and questioned costs. Compliance with the requirements of laws,
regulations, contracts, and grants applicable to each of its major federal programs is the
' responsibility of the Salina Housing Authority's management. My responsibility is to express an
opinion on the Salina Housing Authority's compliance based on my audit.
I conducted my audit of compliance in accordance with auditing standards generally accepted in
' the United States of America; the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States; and
OMB Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations."
' Those standards and OMB Circular A-133 require that I plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of compliance requirements
referred to above that could have a direct and material effect on a major federal program
occurred. My audit included examining, on a test basis, evidence about the Salina Housing
Authority's compliance with those requirements and performing such other procedures as I
considered necessary in the circumstances. I believe that my audit provides a reasonable basis
' for my opinion. My audit does not provide a legal determination of the Salina Housing
Authority's compliance with those requirements.
In my opinion, the Salina Housing Authority complied, in all material respects, with the
' requirements referred to above that are applicable to each of its major federal programs for the
year ended June 30, 2010.
' 23
Member PCPS/AICPA Alliance for CPA Firms
Members of the American Institute of Certified Public Accountants and Kansas Society of Certified Public Accountants
I
' Internal Control Over Compliance
The management of the Salina Housing Authority is responsible for establishing and
maintaining effective internal control over compliance with the requirements of laws, regulations,
contracts, and grants applicable to federal programs. In planning and performing my audit, I
' considered the Salina Housing Authority's internal control over compliance with requirements
that could have a direct and material effect on a major federal oroaram as a basis for designing
my auditing procedures for the purpose of expressing my opinion on compliance and to test and
' report on the internal control in accordance with OMB Circular A-133, but not for the purpose of
expressing an opinion on the effectiveness of the Organization's internal control. Accordingly, I
do not express an opinion on the effectiveness of the Organization's internal control.
' A control deficiency exists when the design or operation of a control does not allow
management or employees within a timely period, in the normal course of performing their
assigned functions, to prevent or detect noncompliance with applicable requirements of laws,
regulations, contracts and grants that would have a direct and material effect on a major federal
program. A significant deficiency is a control deficiency, or combination of control deficiencies,
that adversely affects the Organization's ability to administer a major federal program in
' accordance with applicable requirements of laws, regulations, contracts and grants such that
there is more'than a remote likelihood that the Organization's noncompliance that is more than
inconsequential will not be prevented or detected by the Organization's internal control.
' A material weakness is a significant deficiency, or combination of significant deficiencies that
results in more than a remote likelihood that material noncompliance with applicable
requirements of laws, regulations, contracts and grants in relation to a major federal program
' will not be prevented or detected by the Organization's internal control.
My consideration of internal control was for the limited purpose described in the fourth
' paragraph and would not necessarily identify all deficiencies in internal control that might be
significant deficiencies or material weaknesses. I did not identify any deficiencies in internal
control that I consider to be material weaknesses, as defined above.
This report is intended solely for the information and use of the board of commissioners,
management, others within the Organization and federal awarding agencies and pass-through
' entities and is not intended to be and should not be used by anyone other than those specified
parties.
�C 6 ULEL° op. A- CA
Holton, Kansas
January 18, 2011
1
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HOUSING AUTHORITY OF THE CITY OF SALINA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED JUNE 30, 2010
' SUMMARY OF AUDIT RESULTS
1. The auditor's report expresses an unqualified opinion on the financial statements of the
' Housing Authority of the City of Salina.
2. No material weaknesses were identified during the audit of the financial statements.
' 3. No instances on noncompliance material to the financial statements of the Housing Authority
of the City of Salina were disclosed during the audit.
' 4. No deficiencies were disclosed during the audit of internal control over major federal award
programs.
' 5. The auditor's report on compliance for the major federal award programs for the Housing
Authority of the City of Salina expresses an unqualified opinion.
t 6. Audit findings relative to the major federal award programs for the Housing Authority of the
City of Salina are reported in this Schedule.
The programs tested as major programs included:
' U.S. Department of Housing and Urban Development
Low Rent Public Housing —CFDA# 14-850a
' U.S. Department of Housing and Urban Development
Housing Choice Vouchers— CFDA# 14-871
U.S. Department of Housing and Urban Development
Public Housing Capital Fund Program—CFDA# 14-872
' U.S. Department of Housing and Urban Development
Formula Capital Fund Stimulus Grant—CFDA# 14-885
t 7. The threshold for distinguishing Types A and B programs was $300,000.
8. The Housing Authority of the City of Salina was determined to be a low-risk auditee.
FINDINGS-FINANCIAL STATEMENTS AUDIT
None
' FINDINGS AND QUESTIONED COSTS-MAJOR FEDERAL AWARD PROGRAMS AUDIT
There were no findings or questioned costs for the year ended June 30, 2010.
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' HOUSING AUTHORITY OF THE CITY OF SALINA
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
YEAR ENDED JUNE 30. 2010
1 There are no prior year audit findings.
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SUPPLEMENTAL INFORMATION
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HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
Line Description Project Program Central Office Subtotal Elimination Total
Item No Tntalc Tntnle ('net('enter
Balance Sheet
ASSETS
I 1 1 Cash-unrestricted $ 48,872 $ 19,218 $ 127,888 $ 195,976 $ 195,978
113 Cash-other restricted - 152,966 - 152,986 152,966
114 Cash-tenant security deposits - - - - -
100 Total Cash 48,872 172,184 127,886 348,942 - 348,942
121 Accounts receivable-PHA projects - - - - •
122-020 Accounts receivable-HUD other projects-Capital fund 7,467 - - 7,487 7,467
122 Accounts receivable-HUD other projects 7,467 70,237 - 77,704 77,704
124 Accounts receivable-other government - 6,791 - 8,791 8,791
126 Accounts receivable-tenants 10,049 - - 10,049 10,049
126.1 Allowance for doubtful accounts-tenants (4,500) - - (4,500) (4,500)
128 Fraud recovery - - - - -
128.1 Allowance for doubtful accounts-fraud - - - - -
129 Accrued interest receivable 2,749 441 - 3,190 3,190
120 Total receivables,net of allowance for doubtful accounts 15,765 79,469 - 95,234 - 95,234
131 Investments-unrestricted 547,062 399,909 3,515 950,486 950,488
132 Investments-restricted 88,530 22,046 - 120,576 120,576
142 Prepaid expenses and other assets 32,915 - - 32,915 32,915
143 Inventories 14,079 - - 14,079 14,079
143.1 Allowance for obsolete Inventories (704) - - (704) (704)
144 Inter program-due from 108,493 3,902 - 110,395 (110,395) -
150 Total Current Assets 863,012 677,510 131,401 1,671,923 (110,395) 1,561,528
161 Land 503,003 25,000 953,888 1,481,891 1,481,891
162 Buildings 6,159,607 - 23,804 6,183,411 6,163,411
163 Furniture,equipment and machinery-dwellings 32,789 - - 32,789 32,789
164 Furniture,equipment and machinery-administration 217,843 48,904 55,121 319,868 319,868
165 Leasehold improvements 571,415 - 22,301 593,718 593,716
166 Accumulated depreciation (2,872,731) (39,355) (74,292) (2,988,378) (2,988,376)
167 Construction In progress 666,707 - - 666,707 666,707
160 Total capital assets,net of accumulated depreciation 5,278,633 32,549 980,822 , 6,292,004 - 6,292,004
171-050 Notes,Loans,8 mortgages receivable-Non-Current-other - 4,471 - 4,471 4,471
171 Notes,Loans,&mortgages receivable-Non-Current - 4,471 - 4,471 - 4,471
180 Total Non-current Assets 5,278,633 37,020 980,822 6,296,475 - 6,296,475
190 Total Assets 6,141,645 714,530 1,112,223_ 7,968,398 (110,395) 7,858,003
27
al a a w ea NM a MI ME MI al - inilli Me - I' MIN Inn 5
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
Line Description Project Program Central Office Subtotal Elimination Total
Item No. Totals Totals Cost Center
LIABILITIES AND NET ASSETS
312 Accounts payable<=90 days 6,207 141 1,410 7,758 7,758
321 Accrued wage/payroll taxes payable 25,079 6,295 11,218 42,592 42,592
322 Accrued compensated absences-current portion 13,071 635 4,349 18,055 18,055
332 Accounts payable-PHA protects - 1,956 - 1,958 1,956
+
333 Accounts payable-other government 19,585 - - 19,565 19,565
341 Tenant security deposits 79,288 - - 79,288 79,288
342-020 Deferred revenue-capital fund 38.897 - - 38,697 38,697
342-030 Deferred revenue-Other 2,255 - - 2,255 2,255
342 Deferred revenue 40,952 22,032 - 62,984 62,984
345 Other current liabilities - - - - -
347 Inter program-due to 3,902 89,667 18,826 110395 (110,395) -
310 Total Current Liabilities 188,064 120,726, 33,803 342,593 (110,395) 232,198
353 Non-current liabilities-other 19,242 22,046 - 41,288 41,288
354 Accrued compensated absences-non-current 3,268 159 1,087 4,514 4,514
350 Total Non-current liabilities 22,510 22,205 1,087 45,802 - 45,802
300 Total Liabilities 210,574 142,931 34,890 388,395 (110,395) 278,000
508.1 Invested in capital assets,net of related debt 5,278,633 32,549 980,822 6,292,004 8,292,004
511.1 Restricted Net Assets - 152,966 - 152,986 152,968
512.1 Unrestricted Net Assets 652,438 _ 386,084 98,511 1,135,033 1,135,033
513 Total EouityNet Assets 5,931,071 571,599 1,077,333 7,580,003 - 7,580,003
600 Total Liabilities and Eguitv/Net assets $ 6,141,645 S 714,530 $ 1,112,223 S 7,968,398 S (110,395) S 7,858,003
•
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HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
Line Description Project Program Central Office Subtotal Elimination Total
Item No, Totals Totals Cost Center
Income Statement Operations
70300 Net tenant rental revenue $ 284,745 $ - $ - $ 284,745 $ 284,745
70400 Tenant revenue-other 68,829 - - 66,829 86,829
70500 Total Tenant Revenue 351,574 - - 351,574 - 351,574
70600-010 Housing assistance payments - 877577 - 877,577 877,577
70600-020 Ongoing administrative fees earned - 156,584 - 158,584 158,584
70600-031 FSS Coordinator • 14,027 - 14,027 14,027
70600 HUD PHA ooeratinggrants 460,880 1,149,760 - 1,610,640 - 1,610,640
70610 Capital grants 127597 255,807 - 383,404 - 383,404
70710 Management fee - - 146,568 146,568 (145588) -
70720 Asset Management fee • - 17,930 17,930 (17,930) -
70730 Bookkeeping fee - - 42,923 42,923 (42,923) -
70700 Total Fee Revenue - - 207,421 207,421 (207,421) -
70800 Other government grants _ - 15,894 - 15,894 15,894
71100-020 Administrative Fee - 1,317 - 1,317 1,317
71100 Investment Income-unrestricted 9,636 9,066 42 18,744 18,744
71400-010 Housing Assistance Payment - 5,378 - 5,376 5,378
71400-020 Administrative Fee - 5,379 - 5,379 5,379
71400 Fraud recovery - 10,755 - 10,755 10,755
71500 Other revenue 41,546 58,624 553 100,723 - 100,723
72000-010 Housing Assistance Payment - 1,561 - 1,561 1,581
- 72000 Investment Income-restricted 1,561 - 1,561 1,561
70000 Total Revenue 991,233 1,501,467 208,016 2,700,716 (207,421) 2,493,295
91100 Administrative salaries 69,958 86,763 118,889 255,810 255,810
91200 Auditing fees 4,200 4,200 - 8,400 8,400
91300 Management fees 109,325 37,243 • 146,588 (148,588) -
_ 91310 Bookkeeping fees 14,565 28,358 - 42,923 (42,923) -
91500 Employee benefit contributions-administrative 18,136 17,513 30,163 83,812 83,812
91600 Office Expenses 23,744 . 25,108 7,046 55,898 55,898-
- 91700 Legal Expense 35,249 9,014 8,252 50,515 50,515
91800 Travel 172 39 5,910 6,121 6,121
_ 91900 Other 30,380 8,014 22,734 81,128 81,128
91000 Total Operating-Administrative 303,729 196,252 190,994 690,975 (189,491) 501,484
92000 Asset management fee 17,930 - - 17,930 (17,930) -
92100 Tenant services-salaries - 84,892 - 84,892 84,892
92300 Employee benefit contributions-tenant services - 25,277 - 25,277 25,277
92400 Tenant services-other 1,859 1,180 - 3,039 3,039
92500 Total Tenant Services 1,859 91,349 - 93,208 - 93,208
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HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
Line Description Project Program Central Office Subtotal Elimination Total
Item No. Totals Totals Cost Center
93100 Water 1,668 - 34 1,700 1,700-
93200 Electricity 8,528 - 788 7,314 7,314
93300 Gas 7,928 - 143 8,071 8,071
93600 Sewer 1,744 - 30 1,774 1,774
93000 Total Utilities 17,866 - 993 18,859 - 18,859
94100 Ordinary maintenance and operations-labor 125,409 - - 125,409 125,409
94200 Ordinary maintenance and operations-materials and other 83,388 531 - 83,919 83,919
94300-010 Ordinary Maintenance and Operations Contracts•Garbage and Trash Removal Contracts 2,913 - 575 3,488 3,488
94300-060 Ordinary Maintenance and Operations Contracts-Unit Turnaround Contracts 709 - 709 709
94300-080 Ordinary Maintenance and Operations Contracts-Plumbing Contracts 13,195 - - 13,195 13,195
94300-090 Ordinary Maintenance and Operations Contracts-Extermination Contracts 8,108 - - 8,108 8,108
94300-120 Ordinary Maintenance and Operations Contracts•Routine Maintenance Contracts 33,941 - - 33,941 33,941
94300 Ordinary Maintenance and Operations Contracts 58,866 - 575 59,441 59,441
94500 Employee benefit contribution-ordinary maintenance 57,455 - - 57,455 57,455
94000 Total Maintenance 305,118 531 575 306,224 - 306,224
95200 Protective Services-other contract cost - 57 57 57
95300 Protective Services-other 143 - 282 425 425
95000 Total Protective Services 143 - 339 482 482
96110 Property insurance 89,837 1,100 241 71,178 71,178
96120 Liability Insurance 306 - - 306 306
96130 Workmen's Compensation 34,490 413 413 35,318 35,318
96140 All other Insurance 8,255 - - 6,255 8,255
96100 Total Insurance Premiums 110,888 1,513 654 113,055 - 113,055
96200 Other general expenses - 2,277 - 2,277 2,277
96210 Compensated absences - • - - -
96300 Payments in lieu of taxes 19,565 - _ - 10565 19,585
96400 Bad debt-tenant rents 49,679 - - 49,679 49,879
96000 Total Other General Expenses 69,244 , 2,277 - 71,521 - 71,521
96900 Total Operating Expenses 826,777 291,922 193,555 1,312,254 (207,421) 1,104,833
97000 Excess Revenue Over Operating Expenses 164,456 1,209,545_ 14,461 1,388,462 - 1,388,462
97100 Extraordinary maintenance 4,451 - - 4,451 4,451
97200 Casualty losses-Non-capitalized 33,340 _ - - 33,340 33,340
97300-050 All Other - 934,849 • 934,849 934,849
- 97300 Housing assistance payments - 989,547 989,547 989,547
97350 HAP Portability-in 48,754 48,754 48,754
97400 Depreciation expense 224,573 _ 3,877 4,977 233,427 ' 233,427
90000 Total Expenses 1,089,141 1,334,100 198,532 2,621,773 (207,421) 2,414,352
30
ONE MI r a MI a r S NM MI r In MI IIIIIII S NM IS OM
•
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
Line Description Project Program Central Office Subtotal Elimination Total
Item No Tntalc Totals ('net renter
10010 Operating transfer in 113,000 - - 113,000 (113,000) -
10020 Operating transfer out (113,000) - - (113,000) 113,000 -
10100 Total other financing sources(uses) - - - - - -
10000 Excess(Deficiency)of Revenue Over(Under)Expenses (97,908) 167,367 9,484 78,943 - 78,943
11030 Beginning equity 5,775,567 657,644 1,067,849 7,501,060 - 7,501,060
11040.090 Equity transfers 253,412 (253,412) - - - -
EQUITY AT END OF YEAR $ 5,931,071 $ 571,599 S 1,077,333 S 7,580,003 S • S 7,580,003
11170-001 Administrative Fee Equity-Beginning Balance 147,234 147,234 147,234
11170-010 Administrative Fee Revenue 156,584 156,584 156,584
1170-021 FSS Coordinator Grant 14,027 14,027 14,027
11170-040 Investment Income 1,317 1,317 1,317
11170-045 Fraud Recovery Revenue 5,379 5,379 5,379
11170-060 Total Admin Fee Revenues 184,237 184,237 184,237
11170-080 Total Operating Expenses 230,148 230,148 230,146
11170-090 Depreciation 3,398 3,398 3,398
11170-110 Total Expenses 282,298 282,298 282,298
11170-002 Net Administrative Fee (98,061) (98,061) (88,061)
11170-003 Administrative Fee Equity-Ending Balance 49,173 49,173 49,173
11170 ,Administrative Fee Equity S - $ 49,173 $ 49,173 S - S 49,173
11180-001 Housing Assistance Payments Equity-Begining Balance 200,382 200,362 200,362
11180-010 Housing Assistance Payment Revenues 877,577 877,577 877,577
11180-015 Fraud Recovery Revenue 5,378 5,376 5,376
11180-025 Investment Income 1,561 1,581 1,561
11180-030 Total HAP Revenues 887,453 887,453 887,453
11180.080 Housing Assistance Payments 934,849 934,849 934,849
11180-100 Total Housing Assistance Payments Expenses 934,849 934,849 934,640
11180-002 Net Housing Assistance Payments (47,398) (47,396) (47,396)
11180-003 Housing Assistance Payments Equity-Ending Balance 152,968 152,966 152,966
11180 Housing Assistance Payments Equity S - S 152,966 S 152,966 S - S 152,966
11190-210 Total ACC HCV Units - - • -
11190 Unit Months Available 1828 3,935 5763 5,763
11210 Unit Months Leased 1808 3,802 5610 5,610
11270 Excess Cash $ 546,635 $ - 5 546,635 $ • S 546,635
11610 Land Purchases - - - - -
11620 Building Purchases 349,198 - - 349,198 349,198
11630 Furniture&Equipment-Dwelling Purchases - - - - -
11640 Furniture&Equipment-Administrative Purchases 10,524 - - 10,524 10,524
11650 Leasehold Improvements Purchases 18,628 - - 18,828 18,828
11660 Infrastructure Purchases - - - - -
31
r a = M S OM MN a MO - MI NM S gni 1111111 MI Una MI
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
Line Item Description Total Projects KS03800000I
ASSETS
III Cash-unrestricted $ 48,872 $ 48,872
114 Cash-tenant security deposits - -
100 Total Cash 48,872 48,872
122-020 Accounts receivable-HUD other protects-capital fund - 7,467 7,467
122 Accounts receivable-HUD other protects 7,467 7,467
126 Accounts receivable-tenants 10,049 10,049
126.1 Allowance for doubtful accounts-tenants (4,500) (4,500)
128 Freud recovers - -
128.1 Allowance for doubtful accounts-fraud _ - -
129 Accrued Interest receivable 2,749 2,749
120 Total receivables,net of allowance for doubtful accounts 15,765 15,765
131 Investments-unrestricted 547,062 547,062
132 Investments-restricted 98,530 98,530
142 Prepaid expenses and other assets 32,915 32,915
143 Inventories 14,079 14,079
143.1 Allowance for obsolete Inventories (704) (704)
144 Inter program-due from 106,493 108,493
150 , Total Current Assets 863,012 863,012
161 Land 503,003 503,003
162 BuildIngs 8,159,807 8,159,807
163 Furniture,equipment and machinery-dwellings 32,789 32,789
164 Furniture,equipment and machinery-administration 217,843 217,843
165 Leasehold Improvements 571,415 571,415
166 Accumulated depredation (2,872,731) (2,872,731)
167 Construction In progress 666,707 866,707
168 Infrastructure - -
160 Total capital assets,net of accumulated depreciation 5,278,633 5,278,633
180 Total Non-current Assets • 5,278,633 5,278,633 .
190 Total Assets $ 6,141,645 $ 6,141,645
32
IS NM M - - • MI r = MI NM MI MI NM N S la M NM
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
LIABILITIES AND NET ASSETS
_ 312 Accounts payable<=90 days 8.207 6,207
321 Accrued wage/payroll taxes payable 25,079 25,079
322 Accrued compensated absences-current portion 13,071 13,071
333 Accounts payable-other government 19.565 19,565
341 Tenant security deposits 79,288 79,288
342-020 Deferred revenue-capital fund 38,697 38,897
342-030 Deferred revenue-other 2,255 2,255
342 Deferred revenue 40,952 40,952
345 Other current liabilities - -
347 Inter program-due to 3,902 3,902
310 Total Current Liabilities 188,064 188,064
353 Non-current Ilabllites-other 19,242 19,242
354 Accrued compensated absences-non-current 3,268 3,268
350 Total Non-Current Liabilities 22,510 22,510
300 Total Liabilities 210,574 210,574
508.1 Invested In capital assets,net of related debt 5,278,833 5,278,633
511.1 Restricted Net Assets - -
512.1 Unrestricted Net Assets 652,438 652,438
513 Total Equity/Net Assets 5,931,071 5,931,071
600 Total Liabilities and Equity/Net assets S 6,141,645 S 6,141,645
33
UM - MI l - ME MO - a M - a OM a a a a r a
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
Line Item Operating Capital Fund
No. Description Total Projects KS038000001
Fund Program Program
70300 Net tenant rental revenue $ 284,745 $ 284,745 $ 284,745
70400 Tenant revenue-other 88,829 68,829 88,829
70500 Total Tenant Revenue 351,574 351,574 351,574 -
70600 HUD PHA operating grants 460,880 460,880 316,154 144,726
70610 Capital grants 127,597 127,597 - 127,597
71100 Investment Income-unrestricted 9,636 9,636 9,636
71500 Other revenue 41,548 41,546 41,548
70000 Total Revenue 991,233 991,233 718,910 272,323
91100 Administrative salaries 69,958 89,958 69,958
91200 Auditing fees 4,200 4,200 4,200
91300 Management fee 109,325 109,325 82,050 27,275
91310 Bookkeeping fee 14,585 14,585 14,585
91500 Employee benefit contributions-administrative 18,138 18,136 18,136
91600 Office Expenses 23,744 23,744 23,744
91700 Legal Expense 35,249 35,249 35,249
91800 Travel 172 172 172
91900 Other 30,380 30,380 30,380
91000 Total Operating-Admtnlstrative 303,729 303,729 276,454 27,275
92000 Asset management fee 17,930 17,930 17,930
92400 Tenant services-other 1,859 1,859 1,859
92500 Total Tenant Services 1,859 1,859 1,859 -
93100 Water 1,886 1,668 1,866
93200 Electricity 6,528 6,528 6,528
93300 Gas 7,928 7,928 7,928
93600 Sewer 1,744 1,744 1,744
93000 Total Utilities 17,866 17,866 17,866 -
94100 Ordinary maintenance and operations-labor 125,409 125,409 125,409
94200 Ordinary maintenance and operations-materials and other 63,388 63,388 63,388
94300-010 Ordinary Maintenance and Operations Contracts-Garbage and Trash Removal Contracts 2,913 2,913 2,913
94300-020 Ordinary Maintenance and Operations Contracts-Unit Turnaround Contracts 709 709- 709
94300.080 Ordinary Maintenance and Operations Contracts•Plumbing Contracts 13,195 13,195 13,195
94300-090 Ordinary Maintenance and Operations Contracts-Extermination Contracts 8,108 8,108 8,108
94300-110 Ordinary Maintenance and Operations Contracts-Routine Maintenance Contracts 33,941 33,941 33,941
94300 Ordinary Maintenance and Operations Contracts 58,866 58,866 58,866 -
94500 Employee benefit contribution-ordinary maintenance 57,455 57,455 57,455
94000 Total Maintenance 305,118 305,118 305,118 -
34
MN MI 11111•1 INIB MI IS
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
Line Item Description Total Projects KS002000001 Operating Capital Fund
No. Fund Program Program
95200 Protective Services-other 143 143 143
95000 Total Protective Services 143 143 143 -
96110 Property Insurance 69,837 69,837 69,837
96120 Liability Insurance 308 306 306
96130 Workmen's Compensation 34,490 34,490 34,490
96140 All other Insurance _ 8,255 6,255 8,255
96100 Total Insurance Premiums 110,888 110,888 110,888 -
96210 Compensated absences _ - - -
96300 Payments in lieu of taxes 19,565 19,565 19,565
96400 Bad debt tenant rents 49,679 49,679 49,679
96000 Total Other General Expenses 69,244 69,244 69,244 -
96900 Total Operating Expenses 826,777 826,777 799,502 27,275
- 97000 Excess Revenue Over Operating Expenses 164,456 164,456 (80,592) 245,048
97100 Extraordinary maintenance 4,451 4.451 - 4,451
97200 Casualty losses-Non-capitalized _ 33,340 33,340 33,340
97400 Depreciation expense 224,573 224,573 220,460 4,113
90000 Total Expenses 1,089,141 1,089,141 1,053,302 35,839
10010 Operating transfer in 113,000 113,000 113,000
10020 Operating transfer out (113,000) (113,000) - (113,000)
_ 10100 Total other financing sources(uses) - - 113,000 (113,000)
10000 Excess(Deficiency)of Revenue Over(Under)Expenses (97,908) (97,908) (221,392) 123,484
11030 Beginning equity 5,775,567 5,775,567 5,775,567 -
_11040-080 Equity Transfers 253,412 253,412 - 253,412
_11040-090 Equity Transfers - - -
11040 Prior period adjustments,equity transfers,and correction of errors 253,412 253,412 - 253,412
EQUITY AT END OF YEAR § 5,931,071 § 5,931,071 § 5,554,175 $ 376,896
11190 Unit Months Available 1828 1828 1828 -
_ 11210 Unit Months Leased 1808 1808 1808 -
_ I1270 Excess Cash $ 463,504 S 463,504 S 463,504 $ -
_ 11610 Land Purchases - - - -
11620 Building Purchases 349,198 349,198 - - 349,198
_ 11630 Furniture&Equipment-Dwelling Purchases - - - -
11640 Furniture&Equipment-Administrative Purchases 10,524 10,524 10,524
•
11650 Leasehold Improvements Purchases 18,828 18,628 - 18,628
11660 Infrastructure Purchases - - - -
35
IS r S MO MN MN S N MB r NM r S - - - - - S
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.1(5038
FINANCIAL DATA SCHEDULES
June 30.2010
1 14.238 14.239 14.871 14.885 14.870
HOME Resident
Formula Capital
Lint Item Business Shelter Plus Investment Housing Choice Opportunity and
Na Description Total Programs Activities Care Partnerships Vouchers Fund Stimulus supportive
_ Program Grant Services
Balance Sheet
11 Cash-unresWded $ 19,21B $ 9,801 $ 8,481 $ 2 $ 934 $ - $ -
13 Cash-other resmcled 152,988 152.986
00 Total Cash 172,184- 9,801 8,481 2 153,900 - -
21 Accounts receivable-PHA protects - -
22 Accounts receivable-HUD other projects 70,237 - - 60,968 _ 9,269
24 Accounts receivable-other government 8,791 0,791
29 Accrued Interest receivable 441 373 68
20 -Total receivables,net of allowance for doubtful accounts 79,469 373 - 8,791 68 60,968 9,269
31 Investments-unrestricted 399,909 299,435 100.474
32 Investments-restricted 22,046 22.048
44 Inter program-due from 3,902 - 3,902
- 50 _Total Current Assets 677,510 309,609 8,451 8,793 276,488 60,968 13,171
61 Lend 25,000 25,000
62 Buildings
63 Furniture,equipment and machinery-dwellings -
64 Furniture,equipment and machinery-administration 46,904 44,509 2,395
65 Leasehold Improvements -
66 Accumulated depreciation (39,355) (38,078) (479)
67 Construction in progress
68 Infrastructure -
60 Total capital assets,net or accumulated depreciation 32,549 • - - 30,633 - 1,916
17 .050 Notes,Loans,8 mortgages receivable-Non-Current-other 4,471 4,471
71 Notes,Loans,&morlsases receivable-Non-Current 4,471 4,471
80 ,Total Nonavrrent Assets 37,020 4,471 - - 30,633 - 1.916
90 Total Assets 714,530 314,080 8,481 8,793 307,121 60,968 15,087
12 Accounts Payable<=900ays 141 - 141
321 Accrued wage/payroll taxes payable 6,295 6,295
322 Accrued compensated absences-current proton 635 635
332 Account payable•PHA projects 1.958 1,958
342 Deferred revenue 22,032 4,559 13,571 3.902
347 Inter program-due to 89,687 - 7,065 11,565 60,988 9.269
310 Total Current Liabilities - 120,726 • 4,559 7.865 34,163 60,968 13,171
353 Non-currentliabilities-other 22,046 22,048
354 Accrued compensated absences-Non-current 159 159
350 Total Non-current liabilities 22,205 - - - 22,205 - -
300 Total Liabilities 142.931 4,559 7,865 56,368 60,968 13,171
508,1 Invested in capital assets,net of related debt _ 32,549 - - - 30.633 - 1,910
511.1 Restricted Net Assets 152,986 - - - 152,966 -
512.1 Unrestricted Net Assets 386,084 314,080 3,922 928 67,154 - -
513 Total Equity/Net Assets - 571,599 314,080 3,922 928 250,753 - 1,916
600 Total Liabilities end Equity/Net unit 714,530 314,080 8,481 8,793 307,121 60,968 15,087
36
SS a la 1111111M111111111111 =11 r NM SIB SI MI r MN IIIIII ! al
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO,KS038
FINANCIAL DATA SCHEDULES
June 30,2010
_ I 14238 I 14139 14.871 14.885 14.870
HOME Resident
Formula Capital
Line Item Business Shelter Plus Investment Housing Choice Opportunity and
No. Description Total Programs Activities Care Parmenhips Vouchers Fund Stimulus Supportive
Program Grant Services
Income-Statement _
70600-010 Housing assistance payments 877,577 877,577 -
70600-020 Ongoing administrative fees earned 158,584 156,584
70600.031 FSS coordinator 14,027 - 14.027
70600 HUD PHA operating grants 1,149,760 - 43,627 - 1,048,188 - 55,945
70610 Capital grants 255,807 253,412 2495
70800 Other government grants 15.894 - 15,894
71100.020 Administrative Fee 1,317 • 1,317
71100 Investment income-unrestricted 9,066 7.731 7 II 1,317 - -
71400-010 Housing Assistance Payment 5,376 5376
71400-020 Administrative Fee 5,379 5,379
71400 Freud recovery 10,755 - - - 10,753 - •
71500 Other revenue 58,624 58,624
72060.010 Housing Assistance Payment 1,681 1,581
72000 Investment income,restricted 1,561 . 1,561 - -
70000 Total Revenue 1,501,467 7,731 45,634 15,905 1,120,445 253,412 58,340
91100 AdministraWe salades 68,763 - - 56,763
91200 Auditing fees 4,200 4,200
91300 Management fee 32,243 2,028 593 34,622
91310 Bookkeeping fee _ 28,358 1,028 27,330
91500 Employee benefit contributions-administrative 17,513 17,513
91600 Office Expenses 25,108 8 68 6 25,026
91700 Legal Expense 9,014 3 9,011
91800 Travel 39 39
91900 Other 8,014 414 7,600
91000 Total Operating-Administrative 196.353 3,451 1,689 6 193,104 - -
92100 Tenant services-salaries 64,892 27,774 37,118
92300 Employee benefit contributions-tenant services 25,277 7,630 17,647
92400 Tenant services-other 1,180 1,180
92500 ,Total Tenant Services 91,349 - - - 35,404 - 55,945
94200 Ordinary maintenance and operations-materials and other 531 - 531
94300-050 Ordinary Maintenance and Operations Contracts-Routine Maintenance Contracts - -
94300 Ordinary Maintenance and Operations Contracts - - - _ _
94000 Total Maintenance 531 - . - 531 - -
96110 Property Insurance 1,100 1,100
96130 Workmen's Compensation 113 - 413
96100 Total Insurance Premiums 1,513 1.513
96200 Other general expenses 2,277 1,542 735
96000 Total Other General Expenses 2,277 1.542 - - 735 - -
96900 Total Operating Extremes 291,922 3,995 1,689 6 330,387 - 55,945
97000 Excess Revenue Over Operating Expenses 1,209,545 3436 43,945 15,899 890,158 253,412 2,395
97360.050 AN Other 934,849 934,849
97300 Housing vashteace payments 989.547 - 39,696 15,003 934,849 - •
97350 HAP Portability In 48,751 - - - 18,754 - -
97400 Depreciation expense 3,877 - - - 3,398 - 479
_ 90000 Total Expenses 1,334,100 3,995 41485 15,008 1,217488 - 56,424
10000 Excess(Deficiency)of Revenue Over(Under)Expenses 167,367 3,736 4,249 897 (96,843) 253,412 1,916
37
S • I MB N IIMI MI MI s I • a a w a r
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO.KS038
FINANCIAL DATA SCHEDULES
June 30,2010
1 14.238 14.239 14.871 14.88$ 14.870
HOME Resident
Formula Capital
Line Item Business Sheller Plus Investment Housing Choice Opsuppor supportive
and
No, Description Total Programs
AcNviNn Care Partnerships Vouchers Fund Stimulus Supportive
Program Grant Services
11030 Beginning equity _ 657,644 310,344 (327)- 31 347,598 - -
11040-090 Equity Transfer _ (253,412) (253,412)
11040 Prior period ad)natmenn,equity transfers,and correction or errors (253,412) - - - - (253,412) -
EQUITY AT END OF YEAR $ 671,699 $ 314,080 $ 3,922 $ 928 $ 260,763 $ - $ 1,916
1170-001 Administrative Fee Equity-Beginning Balance S 147,234 $ 147.234
1170.010 Administrative Fee Revenue 156,584 158,584
1170-021 FSS Coordinator Grant 14,027 14.027
1170-040-Investment Income 1,317 1.317
1170-045 Fraud Recovery Revenue 5,379 5,379
1170.050 Other Revenue-Admin portability In 6,930 6,930
1170-060 Total Admin Fee Revenues 184,237 164,237
1170.080 Total Operating Expenses 230,148 230,146
1170-090 Depreciation 3,398 3,398
1170-095 HAP Portablliry-In 48,754 46,754
1170-100 Other Expenses -
1170-110 Total Expenses 282,298 282,298
1170-002 Net Administrative Fee (96,081) (98,061) _
1170-003 Administrative Fee Equity-Ending Balance 49,173 49,173
11170 Administrative Fee Equity S 49,173 $ 49,173
1180-001 Housing Assistance Payments Equity-Begining Balance $ 200,362 $ 200,362
1180.010 Housing Assistance Payment Revenues 877,577 877,577
1180-015 Fraud Recovery Revenue 5,378 5,376
1180.020 Other Revenue-FSS Escrow for Fertures 2,939
1180-025 Investment Income 1861 1861
1180.030 Total HAP Revenues 887,453 887,453
1180-080 Housing Assistance Payments 934,649 934.849
1180-100 Total Housing Assistance Payments Expenses 934,849 934,849
1180.002 Net Housing Assistance Payments (47,396) (47,398)
1180-003 Housing Assistance Payments Equity-Ending Balance 152,986 152,966
11180 Housing Assistance Payments Equity 5 152,966 5 152,966
11190-210 Total ACC HCV Units - -
11190.220 Unfunded Units -
11190.230 Other Adjustments -
11190 Unit Months Available 3935 0 180 23 3732 0 0
11210 Unit Months Lensed 3802 0 133 23 3646 0 0
11270 Excess Cash S - S - $ . S - 8 - $ - S -
11610 Land Purchases -
11620 Building Purchases -
11630 Furniture 8 Equipment-Dwelling Purchases -
11640 Furniture 8 Equipment-Administrative Purchases -
11650 Leasehold Improvements Purchases - _
11660 Infrastructure Purchases
13510 CFFP Debt Service Payments -
13901 _Replacement Housing Factor Funds -
38
HOUSING AUTHORITY OF THE CITY OF SALINA
HUD PROJECT NO. KS038
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2010
I
CFDA# NAME OF FEDERAL PROGRAM ASSISTANCE
14.850a Low Rent Public Housing 316,154
14.871 Housing Choice Vouchers 1,048,188
' 14.872 Public Housing-Capital Fund Project 272,323
14.238 Shelter Plus Care 45,627
14.239 HOME Investment Partnerships Program 15,894
14.885 Formula Capital Fund Stimulus Grant 253,412
14.870 Resident Opportunity and Supportive Services 58,340
Total Assistance $ 2,009,938
1
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Housing Authority of the City of Salina, HUD Project No. KS038, and is presented on the accrual
basis. The information in this schedule is presented in accordance with the requirements of OMB
Circular A-133,Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some
' amounts presented in this schedule may differ from amounts presented in,or used in the preparation
of,the basic financial statements.
1 1
1
1
1
I
1
1 The accompanying notes are an integral part of these financial statements.
39
1