Title
Human Services Department, Community Services Division, recommending Chairman be authorized to sign Budget Transfer incorporating new Public Housing Authority revenues and corresponding appropriations in the amount of $350,108 within Special Revenue Fund 12-176-001 (Index Code 531210) and corresponding allocated costs in Special Revenue Fund 11-107-001 (Index Code 531022) to recognize, and budget for Fiscal Year 2007/2008, additional anticipated revenues from the Department of Housing and Urban Development for the Housing Choice Voucher Program. (4/5 vote required)
RECOMMENDED ACTION: Approve.
FUNDING: Federal.
Body
BUDGET SUMMARY:
Total Estimated Cost $350,108.00
Funding
Budgeted $
New Funding $350,108.00
Savings $
Other $
Total Funding Available $
Change To Net County Cost $350,108.00
Fiscal Impact/Change to Net County Cost: No change. Any County contribution to the Housing Choice Voucher rental assistance program is determined during the annual budget process.
Reason for Recommendation:
The Federal Department of Housing and Urban Development (HUD) provides funds for the Housing Choice Voucher rental assistance program on a calendar year basis for both administrative and rental assistance activities. The award of funds for the current year is not typically announced until the second quarter of the funding cycle. HUD has published an Administrative Fee schedule which indicates that the El Dorado County Public Housing Authority (EDCPHA) will be receiving approximately $42,000 in additional administrative funds for the first six months of the 2008 calendar year funding cycle. Because notice of additional Housing Assistance Payment (HAP) funding is also expected, and higher than anticipated FY 2007/08 lease-ups of rental units has occurred, an increase of $308,108 in HAP funding, which is 12.1% over 2007 funding levels, has been estimated for the purpose of adjusting the FY 20...
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