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This section details the sources and amounts of funding in the Authority’s MTW budget statement, the funding for federal housing programs outside this budget and a Consolidated Budget Statement.
A. Sources and Amounts of Funding in the MTW Budget
The following table shows the FY 2007 budget adopted by the Board of Commissioners and FY 2008 projected revenues for housing program operation included in the MTW Demonstration. The Section 8 Housing Choice Voucher funding is reported under two line items, one for funding received for Section 8 vouchers in the form of a block grant and one for mainstream and portable voucher administration fees.
PROJECTED REVENUES
|
FY 2007 BUDGET
|
FY 2008 BUDGET
|
Dwelling Rental Income
|
$ 7,063,433
|
$ 6,861,174
|
Investment Income
|
819,012
|
1,285,356
|
Other Income
|
734,082
|
500,202
|
Section 8 Block Grant
|
59,303,861
|
58,818,000
|
Section 8 Subsidy and Port/Admin Fees
|
3,203,571
|
2,555,888
|
Capital Subsidy (CFP all years)
|
7,992,260
|
3,603,700
|
Operating Subsidy (PH)
|
6,901,391
|
7,158,659
|
Bond Proceeds and Tax Credit Equity
|
|
28,227,920
|
Total Revenues
|
$ 86,522,696
|
$109,010,899
| B. Sources and Amounts of Funding for HUD Programs Outside the MTW Budget
The table below shows the FY 2007 budget and projected 2008 revenues for the Section 8 New Construction and Preservation programs, grants that fund services to KCHA residents and program participants and the HOPE VI redevelopment grant for Park Lake Homes.
PROJECTED REVENUES
| FY 2007 BUDGET |
FY 2008 BUDGET
|
Dwelling Rental Income
|
$ 1,341,546
|
$ 1,569,268
|
Investment Income
|
309,580
|
376,094
|
Other Income
|
56,871
|
57,008
|
Section 8 Subsidy and Admin Fees
|
3,180,284
|
2,958,356
|
Capital Subsidy
|
0
|
82,500
|
Operating Subsidy
|
0
|
175,000
|
Grants (non CFP)
|
13,567,510
|
7,487,602
|
Bond Proceeds and Tax Credit Equity
|
|
39,582,217
|
Total Revenues
|
$ 18,445,791
|
$ 52,288,045
|
-
PROJECTED REVENUES
| FY 2007 BUDGET | FY 2008 BUDGET |
Dwelling Rental Income
|
$ 8,404,979
|
$ 8,430,442
|
Investment Income
|
1,128,592
|
1,661,450
|
Other Income
|
790,953
|
557,210
|
Section 8 Block Grant
|
59,303,861
|
58,818,000
|
Section 8 Subsidy and Admin Fee
|
6,383,855
|
5,514,244
|
Capital Subsidy
|
7,992,260
|
3,686,200
|
Operating Subsidy
|
6,901,391
|
7,333,659
|
Grants
|
13,567,510
|
7,487,602
|
Bonds and Tax Credit Equity
|
|
67,810,137
|
Total Revenues
|
$ 105,191,617
|
$ 161,298,944
|
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