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HomeMy WebLinkAboutHousing Catalyst - Minutes - 06/19/2001FORT COLLINS HOUSING AUTHORITY BOARD OF COMMISSIONERS Minutes of the Regular Meeting of the Fort Collins Housing Authority June 19,2001 Commissioners Present Kimberly Stenberg Paul de la Garza Charles Wanner Patrick Brady Lucia Liley I. CALL TO ORDER Commissioners Absent Chip Steiner Staff Present Julie Brewen Alan Fluharty Chairperson Kimberly Stenberg called the regular meeting of the Fort Collins Housing Authority to order at 7:45 a.m. II. CITIZEN IMPUT There was no citizen input. I l l ffff��l:►�.�I:IfbY1�15I.Y.9 Fiscal Year 2000 Audit: Mr. Bert Bondi of Bondi & Co. presented the Fort Collins Housing Authority fiscal year 2000 audit report. He gave an overview of the financial statements and commented that this is the first year that they have found no exceptions to our compliance with federal regulations and that all exceptions from the prior year were appropriately corrected. He also stated that this is the first year that the fund equity has increased. He then reviewed the management letter. Improvements noted included wage survey, employee handbook, Community Housing Development Organization designation for the Housing Corporation, software upgrade, change in daily accounting practices for reconciliation. He suggested the following changes: A written credit card usage policy, implement computer inventory and purchase order systems and direct deposit, create a computer disaster recovery system in writing, security deposits should be tied to the liability to tenants, and tenant file showed inconsistency with type of utility paid. Commissioner Brady suggested working on disaster recovery plans for other scenarios in addition to computer failure. Mr. Bondi explained changes coming sometime in the next few years in the way our financial statements must be reported. Commissioner Liley asked if this will take additional manpower and Mr. Bondi said it would. He suggested hiring a part-time temporary person or consultant to help with this transition. He also suggested changing the prior year's figures to the new format as a test run. Commissioner Wanner suggested a strong focus on managing this change over the next year. The Board then discussed the note payable to the City of Fort Collins for the lawsuit in 1998 in depth. Mr. Fluharty explained that the debt puts the Housing Authority in a financial position that HUD considers to be "troubled". After discussion, the Board concluded that the Board would pursue the possibility of getting the interest reduced by the City and restructuring the payment scheduled. The Board also determined that staff should prepare a document for HUD's files detailing the note and the circumstances for the record. Staff agreed that this could be done with an appeal of our 2000 financial score to HUD's financial assessment center. III. APPROVAL OF MINUTES Ms. Brewen presented the minutes from the May 24, 2001 regular meeting of the Fort Collins Housing Authority. Commissioner de la Garza made a motion to approve these minutes. The motion was seconded by Commissioner Brady and passed unanimously. IV. OLD BUSINESS Rigden Farm: The Board reviewed Ms. Btewen's recommendation to pursue the Rigden Farm project with the land -lease model in light of the funder's preference and the discovery of similar models in Colorado. The Board instructed Ms. Brewen to proceed. Ms. Brewen explained that the Limited Liability Corporation papers have been filed with the State for the Rigden Housing Group, and that the operating agreement is being drafted by Sierra Land Corporation's attorney and will be reviewed by the Housing Authority attorney prior to review, input, and adoption by the Board. She also stated that she would prepare options for the re -sale calculations to be determined at the next Board meeting. IV. NEW BUSINESS Fiscal Year 2001 Budget Revision: Mr. Fluharty, Finance Manager, presented the proposed revisions to the 2001 budget. A motion was made by Commissioner Liley, seconded by Commissioner Brady, to approve the June 19, 2001 revisions to the fiscal year 2001 budget. The motion was passed unanimously. Commissioners' Aonointments and Election of Officers: Ms. Brewen reviewed the status of the search for a new Resident Commissioner. She hopes to have a recommendation for City Council for their July agenda. She will prepare a letter to Council stating that Commissioner Stenberg is willing to be reappointed. Commissioner Liley motioned and Commissioner de la Garza seconded the following slate of officers: Chairperson — Commissioner Pat Brady Vice -chairperson — Commissioner Chip Steiner The motion was unanimously approved. VI. REVIEW OF MONTLY ACTIVITY REPORT There were no questions regarding the Monthly Activity Report. Commissioner Liley asked for a review of the telecommuting and flextime policy at a future meeting. 2 VII. ADJOURNMENT Chairperson Stenberg adjourned the meeting. The next regular meeting will be held on July 26j2001. Fort Collins J. Brewen,"Secr -ollins Housing