HomeMy WebLinkAbout2010 - Housing Catalyst - Annual ReportFCHA Year in Review 2010 Page 1
YEAR IN REVIEW 2010
AGENCY OVERVIEW
In 1971, the Fort Collins Housing Authority (FCHA) was created to build, own and manage af-
fordable, subsidized housing for low-income Fort Collins residents. FCHA currently assists ap-
proximately 1,730 families (4,100 individuals) throughout Larimer County through various pro-
grams. These programs include federally subsidized low income Public Housing, the Housing
Choice Voucher Program (Section 8 Rental Assistance), management of the Wellington Housing
Authority, management of The Villages non-subsidized affordable housing properties owned by
Villages, Ltd. (formerly the Fort Collins Housing Corporation), development and management of
the Village on Elizabeth and Village on Stanford low-income housing tax credit projects, and
management of the historic Northern Hotel.
2010 was a year of preparing for the future. The agency implemented significant organizational
restructuring, which included the hiring of three new management and executive team member
additions: Chief Financial Officer, Property Portfolio Manager and Director of Development.
The agency had grown significantly over the past decade and had reached its capacity to sustain
its growth. Departments were realigned, job descriptions were updated and professional devel-
opment plans were enacted with existing staff focusing on fiscal responsibility and professional
property and asset management.
Our Mission
Just as a house is built upon a solid foundation, the Fort Collins Housing Authority is built upon
its mission: To provide and promote affordable housing, economic opportunity and a safe living
environment free from discrimination.
Our Business Objective
To achieve this mission, all FCHA functions are operated with attention paid to a triple bottom
line:
Maintaining the fiscal viability of the organization.
Achieving a social goal through the provision of affordable housing and supportive ser-
vices.
Achieving environmental sustainability.
FCHA Year in Review 2010 Page 2
Our Core Values
Through our day-to-day operations as well as when striving to attain our long-term goals,
FCHA’s core values are prevalent in our work in the manner in which we serve our community.
Team FCHA
Teamwork
Fun
Compassion
Honesty
Accountability
Situational Summary
Based upon 2010 U.S. Census estimates, the City of Fort Collins has a population of 143,986.
Fort Collin is now the fourth largest city in Colorado. The city witnessed strong population
growth throughout the 1990s. However, in early 2000 to present, Fort Collins has registered a
significant slowdown in population growth. Although the population is expected to continue to
grow during this decade, growth is expected to be at a slower rate than in previous years.
The rental market continues to tighten and rents have been increasing throughout 2010. The mar-
ket has recently shown a significant decrease in vacancy, with the current vacancy rate at ap-
proximately 3%.
FORT COLLINS PUBLIC HOUSING
The Fort Collins Housing Authority feder-
ally subsidized Public Housing program
consists of 154 units owned by the Author-
ity. Operating subsidy allows the program
to serve families earning virtually no in-
come, but regulations authorize serving
families earning up to 80% of area median
income. Attachment A provides 2010
demographics.
For 2010, Fort Collins Public Housing had an average vacancy rate of 1%, which is simply a
function of turnover. The annual turnover rate was 16%, meaning 25 of the 154 units had a fam-
ily move out during the year. This number is down from a 26% turnover rate the previous year.
Numerous factors contribute to such changes, including availability of Housing Choice Vouch-
ers, availability of affordable housing in the market and stability of the families served.
FCHA Year in Review 2010 Page 3
The federal regulations for waiting list selection are quite stringent and create a challenge. There
are currently 1,514 applicants on the Fort Collins Public Housing waiting list, many of these be-
ing for one-bedroom units. At this time, the anticipated length of wait is over two years, longer
for one-bedroom units since there are very few of them in the portfolio.
WELLINGTON PUBLIC HOUSING
The Fort Collins Housing Authority manages the
Wellington Housing Authority through an inter-
governmental agreement. The Board of Commis-
sioners meets on a bimonthly basis to review ac-
tivities, set policy and prepare and authorize
budgets and capital improvement plans. The Wel-
lington Housing Authority consists of 42 Public
Housing units. As of December 2010, there were
567 applicants on the Wellington Public Housing
waiting list.
HOUSING CHOICE VOUCHER PROGRAM
The Fort Collins Housing Authority administers approximately 1,014 Housing Choice Vouchers
(HCV), also known as Section 8, for Fort Collins and Larimer County. The Larimer County allo-
cation of 100 of these vouchers is administered through an intergovernmental agreement, 65 of
which are targeted specifically to people with disabilities. Attachment A provides 2010 program
demographics.
The Fort Collins Housing Authority administered $6,998,811 in Housing Assistance Payments
(HAP) to local landlords on behalf of participating families in 2010. This amount includes three
months of the newly awarded one-year Mainstream voucher funding which is specifically for
non-elderly people with a disability. FCHA values local landlords a great deal and continues to
focus on ways to continue their satisfaction with the program. Housing assistance payments on
behalf of the program recipients are distributed to landlords in a timely manner. A brochure for
landlords and program information is readily available. FCHA is an active member of the Fort
Collins Apartment Owners Association through which staff interacts with local landlords on a
regular basis.
The U.S. Department of Housing and Urban Development (HUD) grades this program through
its Section 8 Management Assessment Program (SEMAP). FCHA anticipates an “A” rating again
for 2010 and has utilized 100% of its authorized budget authority. Utilization of 100% of author-
ized vouchers is difficult to achieve because of increases or decreases during the year in subsidy
amounts and lease-up rates. Congress often does not appropriate enough funding to cover all au-
thorized vouchers, and budget amounts are prorated.
FCHA Year in Review 2010 Page 4
As of December 2010, there were 59 applicants for the HCV program, but this is in no way in-
dicative of community need because this waiting list has been closed since November 1, 2004.
The anticipated wait is now four years or more from the date of application. A separate waiting
list is administered for people interested in the project-based voucher program. Twenty percent
of the vouchers are project-based or assigned to specific rental units. There are currently 1,246
applicants on that list with an average wait of approximately 12 months, depending on bedroom
size.
All units leased under the Housing Choice Voucher program must pass a Housing Quality Stan-
dards (HQS) inspection each year in order to receive subsidy. FCHA has one full-time inspector
on staff. This inspector is well trained in the inspection protocol, and FCHA utilizes a hand-held
computer which syncs to our housing management software to do these inspections. Staff works
toward using the most current technology whenever feasible.
FIRST STEP PROGRAM
After serving the initial 53 families in this grant funded program, some unused funds remained.
As a result, one-year rent subsidies and case management services were offered to 12 additional
families in 2010. All funding will be expended and the program will end in February of 2011.
SINGLE ROOM OCCUPANCY—SUPPORTIVE HOUSING FOR THE HOMELESS
On behalf of Villages, Ltd., the Fort Collins Housing Authority operates the only Single Room
Occupancy (SRO) program in Larimer County. The program includes three dorm-style housing
sites with 42 single rooms of permanent supportive housing. Two of the sites, called The Home-
coming (Myrtle House and First Street), receive direct HUD rental subsidy. The third site, Lin-
den House, is subsidized with 13 Housing Choice Vouchers. The residents must be homeless
upon admission, and the Linden House requires disability verification as an eligibility require-
ment. Case management is provided by three full-time, live-in resident managers and a half-time
supervisor. Collaborative relationships with a myriad of County social service agencies are an-
other program feature.
2010 was a year of reaping the benefits from the previous year’s fundamental changes in policy,
programming and staff. Staffing was changed from part-time to full-time resident managers who
have been hired with greater skill sets and have received significant training, coaching and su-
pervision. Participation in case management is required of all residents and a much more careful
selection process for new residents has made sig-
nificant improvements in retention rates and re-
sulted in many fewer incident reports and evic-
tions in 2010. Resident programming that focused
on self-sufficiency skill building was expanded.
For example, the First Annual SRO Chili Cook-
Off saw friendly competition among the three
residences and encouraged individual cooking
FCHA Year in Review 2010 Page 5
skills and team building. Local businesses supported the event with donated items or discounts
for participant prizes. Similar targeted skills development is planned for 2011. House activities
such as holiday door decorating, Halloween pumpkin carving and regular communal meals initi-
ated by the resident managers have created a genuine atmosphere of safe, supportive housing for
residents. Many residents have spoken glowingly of this positive difference in the safety and
support in the houses this year.
COMMUNITY DUAL DISORDERS TEAM VOUCHERS
The Community Dual Disorders Team (CDDT) combines intensive case management and thera-
peutic support for those dealing with a combination of severe mental illness and severe substance
abuse disorders. The program is fashioned after a national best practices model that has been ef-
fective in reducing hospitalizations, alcohol and substance use, arrests and incarcerations. Since
its implementation three years ago, FCHA has committed a 13-hour-per-week housing specialist
and housing assistance FCHA received from the City of Fort Collins HOME block grant pro-
gram.
The CDDT is a multidisciplinary, multiagency team from the Larimer Center for Mental Health,
the Health District of Northern Larimer County, Connections, and the Fort Collins Housing Au-
thority. The team provides case management, medication management, benefits acquisition assis-
tance, supportive employment, family support, housing, substance abuse counseling and mental
health help matched to individual needs and based on participants’ readiness for change. The
therapeutic interventions used have been scientifically tested and shown to be highly effective.
CDDT initially provided treatment and housing services to 12 of Fort Collins’ highest consumers
of emergency care services (ER, detox, in-patient psychiatric, jail, EMT/ambulance, police, fire).
The cost of administering the program was made up for in the money saved by the reduction of
emergency services in the first year. In November 2010 the City of Fort Collins awarded FCHA
funds for a two-year extension of housing subsidy funds that it had been awarded in 2008.
The program is currently providing housing subsidies to 10 CDDT participants. Because of se-
vere behavior and/or legal problems, four of the original CDDT participants could no longer be
offered single-family apartment units; however, four new participants were added and have re-
mained housed this year. Two additional participants remain in the program but obtained perma-
nent housing subsidies from other sources.
Ongoing instability among certain participants has presented keen lessons and clearer challenges
for CDDT and the agency’s housing response. It has also highlighted implications for the larger
community’s growing interest in responding to chronic homelessness. The need for different
housing options beyond subsidized private apartments is becoming very clear. Additionally,
questions about the type, intensity and ongoing cost of support services that are required to oper-
ate more structured housing options remain unresolved. Plans for expanding CDDT participant
numbers in 2011 from 16 to perhaps 30 pose additional challenges for the housing component.
FCHA Year in Review 2010 Page 6
RESIDENT SERVICES
The Resident Services department consists of four specific programs: Public Housing Family
Self-Sufficiency program, Housing Choice Voucher Family Self-Sufficiency program, Home-
ownership program, and First Step two-year transitional program. Highlights are as follows:
The team worked with 167 total families during the calendar year.
Twenty-three of these families enrolled in school.
Forty-one families are making escrow savings contributions.
The average family escrow savings balance is $2,200, with an average of $250 added
monthly.
There were 11 graduating families this year.
Five families moved to non-subsidized housing.
Two families purchased a home this year.
Overall, the program participants increased their earned income by a total $302,388 dur-
ing 2010.
This year our families felt the effects of the tough economic climate. It was more difficult for
families to find jobs, many families lost employment and some of the assistance programs were
cut back, so resources were scarce.
A client assistance fund, supported by local donations, is available for families actively pursuing
their goals. At the case manager’s discretion, client assistance funds were used in many ways to
help families become successful:
Education 30%
Transportation 38%
Housing Costs 18%
Medical/Dental 6%
Miscellaneous Other Assistance 8%
These contributions to families are for items for which other community resources are not avail-
able. Client assistance contributions must be for purposes such as to help families maintain em-
ployment or education.
In 2010, we continued to successfully incorporate Colorado State University social work interns
to enhance the services we can provide. Through a formal agreement with the CSU School of
Social Work, interns are assigned to FCHA for formal course credit. This year they focused their
efforts on assessing the needs at the Northern Hotel with senior residents. They successfully in-
terviewed numerous residents and provided a weekly coffee hour where residents could get to
know each other as well as express any needs or concerns they had. This led to some
programming being offered at the Northern. The interns also spent time helping residents learn
how to use the computer and create e-mail accounts. The residents were very grateful for the
services provided.
FCHA Year in Review 2010 Page 7
Resident Services hosted a barbeque at City Park Pool in July to celebrate the success and hard
work of everyone who participated in one of the self-sufficiency programs. Families enjoyed
having the pool to themselves and a chance to mingle with other families. Also in 2010, forty-
five families received holiday support or gift baskets.
VILLAGES, LTD. AFFORDABLE HOUSING PROGRAM
The Fort Collins Housing Corporation was legally renamed Villages, Ltd. in 2010. Villages, Ltd.
owns 341 units of affordable housing scattered throughout Fort Collins. The Fort Collins Hous-
ing Authority is the management agent for
The Villages affordable housing portfolio.
The portfolio consists of many types of
housing, from single-family detached
homes to the 95-unit Village on Plum
apartment complex.
Along with the name change, Villages,
Ltd. opened a new leasing center located
at 920 S. Taft Hill Road. The building was
completely remodeled under the direction
of the Housing Authority’s development
team. The new location is easily accessible
and gives the Villages increased exposure
to the community.
The average vacancy rate for The Villages portfolio in 2010 was 3%. In 2010, a total of 127 units
turned over for an annual turnover rate of 37%, about 9% less than the previous year. The lower
vacancy and turnover rates reflect the increasing strength of the Fort Collins rental market.
Average household income for the affordable housing program was $14,434 in 2010.
Outreach and marketing have continued to evolve. The formal outreach plan was updated in
2010 with the help of A-Train Marketing Communications. The updated marketing plan includes
FCHA Year in Review 2010 Page 8
professional brochures, signage, City bus panel advertising, new Web site design and many other
types of outreach. The new image is starting to become recognized and we are seeing results
from these efforts.
Partnership Successes Continue
In 2010, we continued our partnership with Crossroads Safehouse, providing transitional housing
for 26 families coming out of the domestic violence safe house. We have continued to provide
project-based rental assistance vouchers to Neighbor to Neighbor and CARE Housing, as well as
subsidizing the 47 units of senior housing at the Northern Hotel. We entered into a new partner-
ship with Project Self-Sufficiency, an organization providing support to single-parent house-
holds. We have dedicated 18 units with project-based rental subsidy to households participating
in the Project Self-Sufficiency program.
NORTHERN HOTEL
The Fort Collins Housing Authority is the contracted management
agent for the Northern Hotel Limited Partnership. As management
agent, the Authority provides all leasing functions, which include eli-
gibility and compliance work for all grant and funding sources. FCHA
has provided 47 Housing Choice Vouchers to the Northern Hotel in
2001 due to severe vacancy problems. Since that time, the program
has been full and is serving people earning well below 30% of area
median income.
Of these 47 low-income seniors in the Northern Hotel, the average
annual income is $12,036. The average tenant rent is $255. As of De-
cember 2010, there were 204 applicants for this program with an ap-
proximate waiting time of one to two years.
PROPERTY MAINTENANCE
Due to the growth of the Housing Authority’s activities, property maintenance staff and the de-
velopment team were formally separated in 2010, forming two separate departments. This action
allows the property maintenance department to concentrate on property upkeep and improved
services to residents. Major accomplishments and projects in 2010 of the maintenance depart-
ment include the following:
Use of the Yardi software work-order system and time standards to account for time at
each project.
The implementation of the Yardi inventory system to track materials and vendors.
Recycling program for appliances and cabinets from rehabilitation projects with metal,
comingle, CFL lighting and yard waste at the maintenance facility.
FCHA Year in Review 2010 Page 9
Use of Energy Star rated equipment and green building components, including low-VOC
cabinets, counter tops, carpeting and paint in vacancy turns.
Participation with the City of Fort Collins and the City of Wellington in a community tree
planting program.
Installation of water conservation controls on lawn sprinkler systems at all Public Hous-
ing properties.
Completion of the City of Fort Collins Defensive Driving course and recertification in
CPR training by all members of the maintenance team.
The following numbers summarize work orders completed by maintenance staff in 2010:
256 emergency service calls completed or abated within 24 hours.
4,736 routine resident-generated service calls with an average completion time of 7 days.
269 vacancy turnarounds with an average time of 7 days.
6,015 total service calls, including vacant unit work orders.
DEVELOPMENT AND REHABILITATION
Village on Stanford
The Village on Stanford renovation was
completed and a grand opening celebra-
tion was held. The financing was con-
verted from construction to permanent and
all requirements of the funding sources
were met. Permanent financing and low-
income tax credit equity was provided by
FirstBank of Northern Colorado with fi-
nancial support from the City of Fort
Collins CDBG and HOME Programs,
ARRA, Governor’s Energy Office, Fort
Zed, Bohemian Foundation and Villages,
Ltd. Village on Stanford is home to 82
low-income households and is recognized as a model for environmentally sustainable rehabilita-
tion and design.
Leisure Drive
The renovation of 26 units on Leisure Drive is 80% completed. The renovation includes six
buildings constructed in 1971 and incorporates interior and exterior upgrades targeted towards
reducing operating costs and increasing livability. The renovation is made possible through fund-
ing provided by Villages, Ltd., City of Fort Collins CDBG and Federal Home Loan Bank Af-
fordable Housing Program (AHP) funds.
FCHA Year in Review 2010 Page 10
Provincetowne Green Communities
The Housing Authority partnered with Community Affordable Residences Enterprise (CARE) on
the Provincetowne Green Communities development. In November, ground was broken on the
site located in south Fort Collins. When completed, Provincetowne will provide 85 units of af-
fordable and sustainable housing. The development is also the first development built in Fort
Collins under the National Green Communities Criteria.
Public Housing Modernization
The Fort Collins Housing Authority continues to address capital improvements throughout the
Public Housing portfolio with the use of HUD capital funds and ARRA funds. The funding is
directed towards modernization and maintenance of the portfolio to ensure that the highest qual-
ity housing is being provided for the households served.
COMMUNITY COORDINATION AND ADVOCACY
In 2010, FCHA partnered or formally coordinated with numerous community entities through
leadership, advocacy, coordination and support. The following list is not inclusive and is in no
particular order. There are so many other informal partnerships that it is impossible to list all of
the great work being accomplished!
Homeward 2020
Community Dual Disorders Team
Sister Mary Alice Murphy Center for Hope
FortZED
Fort Collins Apartment Owners Association
Neighborhood Task Force
Larimer County Affordable Housing Coalition
Larimer County Workforce Investment Board
Larimer County Health and Human Services
CARE Housing, Inc.
Project Self Sufficiency
Crossroads Safehouse
Neighbor to Neighbor
Habitat for Humanity
Social Services Family Response Team
Northern Front Range Continuum of Care
Interfaith Council
Community Mental Health and Substance Abuse
Partnership
Larimer County Community Corrections –
Women’s Transition
FCHA Year in Review 2010 Page 11
Colorado NAHRO Yardi Users Group
Eastgate Homeowners Association
Stanford Homeowners Association
Thunderbird Neighborhood Association
City Manager’s Strategic Issues Team
Housing NOW Conference
National Association of Housing and Redevelopment
Officials: State, Regional and National
Colorado Coalition for the Homeless
Larimer County Home IProgram (LaHOP)
Larimer County Drug Task Force
City of Fort Collins Utilities
Platte River Power Authority Energy Efficiency Program
Larimer County Alternative Sentencing Unit
Longs Peak Weatherization
INFORMATION TECHNOLOGY
The Fort Collins Housing Authority strives to keep all information technology systems up-to-
date to provide the best possible service to our customers. Since individual participant eligibility
and statistical data must be transmitted electronically to the U.S. Department of Housing and Ur-
ban Development, it is vitally important that our systems are well maintained. In addition, from a
business and fiduciary perspective it is also essential that our systems allow us to track our fi-
nances in ways that are meaningful and allow us to manage our assets properly. In 2010, we fo-
cused on utilizing our software capabilities. The software is very powerful and continues to be
underutilized. With the elimination of a computer help desk position, FCHA staff focused on
agency wide training and use of the software.
Future Information Technology goals:
Continue to refine the FCHA Web site and develop ways for the community to access
program information electronically.
Focus on electronic data storage wherever possible with the long-term goal of becoming
as “paperless” as possible.
Build on the formation of a Yardi users group with four other Colorado Housing Authori-
ties.
FINANCE AND ACCOUNTING
2010 was a year of significant change for the Finance and Accounting Department of the Fort
Collins Housing Authority (FCHA), both in the structure/staffing and the type/quantity of finan-
cial information produced. Some of the more significant adjustments included are described be-
low.
FCHA Year in Review 2010 Page 12
The Addition of a Chief Financial Officer Position
As part of an overall reorganization, which began in 2009, this position was added to develop a
more substantial financial support structure and to position the organization for future growth.
An experienced individual was hired for this position in March 2010.
Finance and Accounting Department Reorganization
An analysis of the type and level of positions in the finance department was completed in 2010.
As a result, changes were implemented to position the department to more effectively support the
operation and mission of the organization. Some of the changes implemented included:
Elimination of a technology support position that was determined to be unnecessary.
The addition of a senior accounting position.
Change in the supervisory structure to more effectively utilize the clerical positions in the
department.
Completion of new job descriptions for all positions to clarify roles and responsibilities.
Analysis and budgeting for additional minor departmental changes in 2011.
New Standardized Financial Reporting
Financial reports were standardized in 2010 across all entities managed by the Fort Collins Hous-
ing Authority. This included the development of a comprehensive monthly financial and budget
tracking report packet. The reports generated are used by the management staff to make deci-
sions on all aspects of their program/department financial operations. These in turn are the core
foundational documents upon which future financial analysis and summary presentations will be
built.
New Annual Budget Process and Approach
Preparation of the budget for the 2011 fiscal year was accomplished using new tools while en-
gaging the department managers and supervisors more actively in the process. Some of the ad-
justments to the budget process included:
Full implementation of a Central Office Cost Center (COCC) philosophy for the alloca-
tion of administration, or overhead, costs. This results in a fair allocation of these costs
while producing a more understandable budget structure that can be used by management
to document and control costs across the organization.
Active involvement of managers at all levels of the organization in preparation of the
budgets for the departments/programs for which they have direct responsibility.
Design and implementation of a new budget development tool. This tool allowed each
department/program budget to be completed in a standardized format that allowed for
FCHA Year in Review 2010 Page 13
automatic entry to the accounting system. In addition, each manager was given historical
information to use in developing their 2011 budget as well as having a standardized way
to communicate how each line item request for funding was calculated and would be util-
ized.
Budget documents and tools were designed to be consistent with the new financial report-
ing formats. This allows for easier communication of budget requests as well as uniform-
ity in financial reporting going forward.
FCHA Entities
The FCHA carries out its mission by managing six separate entities, including:
1. Fort Collins Housing Authority
2. Larimer County Housing Authority (presented as a component unit within FCHA)
3. Villages, Ltd. (formerly know as Fort Collins Housing Corporation)
4. Wellington Housing Authority
5. Village on Elizabeth (a low-income housing tax credit funded project)
6. Village on Stanford (a low-income housing tax credit funded project)
Accounting for these entities, along with contracted functions for the owners of the Northern Ho-
tel, are handled by the finance department. As part of the new standardized financial reporting
implemented in 2010 the statements of financial position (Balance Sheet) and results of opera-
tions (Income Statement) are reported in a grouped format as shown below.
The FCHA ended 2010 with slightly over $50 million in assets under management. All entities
managed had positive cash flow for the year. The two tax credit funded projects produced a loss
for accounting purposes, as required, after application of non-cash expenses for depreciation and
accrued interest.
As a function of the settlement of final financing for the Village on Stanford tax credit project,
during 2010 the FCHA was paid $700,000 for a portion of the development fee earned for man-
aging this rehabilitation project. An additional $700,000 was received from this project to repay
funds loaned by the FCHA during the construction phase. These transactions significantly im-
proved the cash position of the FCHA and will allow for funding of further development of af-
fordable housing assets in the future.
FCHA Year in Review 2010 Page 14
FCHA Villages, Ltd. WHA VOE VOS Total
Actual Actual Actual Actual Actual Actual
ASSETS
CURRENT ASSETS:
CASH
Total Unrestricted Cash 3,225,265 2,405,239 181,728 115,018 372,989 6,300,239
Total Restricted Cash 212,605 492,719 15,832 138,602 186,205 1,045,963
TOTAL CASH 3,437,870 2,897,958 197,560 253,620 559,194 7,346,202
TOTAL ACCOUNTS AND NOTES RECEIVABLE 398,015 274,959 41,198 2,413 (86,594) 629,991
TOTAL OTHER CURRENT ASSETS 106,012 44 - 13,520 1,000 120,576
TOTAL CURRENT ASSETS 3,941,897 3,172,961 238,758 269,553 473,600 8,096,769
NONCURRENT ASSETS:
TOTAL FIXED ASSETS (NET) 6,269,347 13,471,837 836,523 5,119,175 9,401,020 35,097,902
Total Other Assets 6,392,556 675,000 - - - 7,067,556
TOTAL NONCURRENT ASSETS 12,661,903 14,146,837 836,523 5,119,175 9,401,020 42,165,458
TOTAL ASSETS 16,603,800 17,319,798 1,075,281 5,388,728 9,874,619 50,262,227
LIABILITIES & EQUITY
LIABILITIES:
TOTAL CURRENT LIABILITIES 337,727 209,865 16,601 121,481 363,795 1,049,470
TOTAL NONCURRENT LIABILITIES 2,968,495 7,490,245 7,375 3,469,693 5,164,080 19,099,888
TOTAL LIABILITIES 3,306,222 7,700,110 23,976 3,591,174 5,527,875 20,149,357
EQUITY
Total Contributed Capital 100 - - 2,578,893 4,716,792 7,295,785
Reserved for replacements - 355,333 - - - 355,333
Invested in Capital Assets 6,113,546 - 717,546 - 6,831,092
Unrestricted 5,496,329 7,886,915 157,817 (508,739) (97,872) 12,934,450
Current Year Income 1,687,603 1,377,440 175,942 (272,600) (272,176) 2,696,208
TOTAL EQUITY 13,297,578 9,619,688 1,051,305 1,797,554 4,346,744 30,112,869
TOTAL LIABILITIES AND EQUITY 16,603,800 17,319,798 1,075,281 5,388,728 9,874,619 50,262,226
All Property List (.allprop)
Combining Balance Sheet (Summary)
Period = Dec 2010
Book = Accrual
FCHA Year in Review 2010 Page 15
FCHA Villages, Ltd. WHA VOE VOS Total
Actual Actual Actual Actual Actual Actual
Revenue & Expenses
INCOME
TENANT INCOME
Total Rental Income 235,884 2,574,058 66,523 347,034 520,851 3,744,350
Total Other Tenant Income 31,072 118,934 7,560 12,583 26,723 196,872
NET TENANT INCOME 266,956 2,692,992 74,083 359,617 547,574 3,941,222
TOTAL GRANT INCOME 9,651,614 167,617 378,249 - - 10,197,480
TOTAL OTHER INCOME 4,122,803 102,855 2,435 91 11,162 4,239,346
TOTAL INCOME 14,041,373 2,963,464 454,767 359,708 558,737 18,378,048
EXPENSES
ADMINISTRATIVE
Total Administrative Salaries 1,818,089 1,006 - 38,580 57,720 1,915,395
Total FSS Salaries 205,699 - - 8,472 - 214,171
Total Legal Expense 41,220 26,998 880 1,582 5,546 76,226
Total Other Admin Expenses 565,209 642,834 56,765 51,611 80,506 1,396,926
Total Miscellaneous Admin Expenses 909,360 18,205 2,187 20,464 10,535 960,751
TOTAL ADMINISTRATIVE EXPENSES 3,539,577 689,043 59,832 120,709 154,308 4,563,469
TOTAL TENANT SERVICES EXPENSES 37,883 3,193 550 - 200 41,826
TOTAL UTILITY EXPENSES 138,598 292,521 50,441 27,300 35,470 544,330
MAINTENANCE AND OPERATIONS
Total General Maint Expense 701,565 19 962 3 4 702,553
Total Materials 23,880 35,100 3,430 3,621 7,481 73,512
Total Contract Costs 419,057 515,416 78,869 72,492 112,348 1,198,182
Total Facility 13,425 - - - - 13,425
Total Vehicle Costs 24,172 - - - - 24,172
TOTAL MAINTENACE EXPENSES 1,182,099 550,535 83,261 76,116 119,832 2,011,844
TOTAL GENERAL EXPENSES 47,836 88,494 12,778 17,499 47,801 214,408
TOTAL HOUSING ASSISTANCE PAYMENTS 7,040,168 - 836 - - 7,041,004
TOTAL FINANCING EXPENSES 120,673 430,655 - 166,200 128,450 845,978
TOTAL CAPITAL FUNDS 8,987 106,758 - - - 115,745
TOTAL NON-OPERATING ITEMS 237,949 (575,175) 71,127 224,484 344,851 303,236
TOTAL EXPENSES 12,353,770 1,586,024 278,825 632,308 830,913 15,681,840
NET INCOME 1,687,603 1,377,440 175,942 (272,600) (272,176) 2,696,208
All Property List (.allprop)
Combining Income Statement (Summary)
Period = Jan - Dec 2010
Book = Accrual
FCHA Year in Review 2010 Page 16
The two major affordable housing programs operated by the FCHA are the U.S. Department of
Housing and Urban Development (HUD) funded Public Housing and Voucher programs. These
programs are included in the financials for the FCHA in the reports shown above. Below are in-
ternal analysis reports on the financial operations for these two programs in 2010.
FCHA Year in Review 2010 Page 17
FCHA Year in Review 2010 Page 18
ATTACHMENT A
FORT COLLINS PUBLIC HOUSING 2010 DEMOGRAPHICS
Extremely Low Income –
< 30% of median or <$22,450 for family of 4
84
Very Low Income –
50% of median or $37,450 for family of 4
15
Distribution by Average
Annual Income (%)
Low Income –
80% of median or $59,900 for family of 4
1
Average Fort Collins Public Housing 11,240
Annual Income ($) Colorado Overall Average 11,440
With any wages 34
With any welfare 20
With any SSI/SS/Pension 43
Distribution by
Source of Income (%)
With any other income 18
$0 0
$1–25 1
$26–50 14
$51–100 7
$101–200 29
$201–350 24
$351–500 16
Distribution by
Total Tenant Payment (%)
$501+ 9
Elderly, no children, non-disabled 3
Elderly, with children, non-disabled 0
Non-elderly, no children, non-disabled 5
Non-elderly, with children, non-disabled 50
Elderly, no children, disabled 5
Elderly, with children, disabled 0
Non-elderly, no children, disabled 28
Non-elderly, with children, disabled 8
Distribution by
Family Type (%)
All female headed household with children 54
FCHA Year in Review 2010 Page 19
HOUSING CHOICE VOUCHER PROGRAM 2010 DEMOGRAPHICS
Average Fort Collins HCV 11,183
Annual Income ($) Colorado Overall Average 11,468
With any wages 31
With any welfare 13
With any SSI/SS/Pension 51
Distribution by
Source of Income (%)
With any other income 25
$0 1
$1–25 0
$26–50 13
$51–100 6
$101–200 27
$201–350 29
$351–500 13
Distribution by
Total Tenant Payment (%)
$501+ 11
Elderly, no children, non-disabled 6
Elderly, with children, non-disabled 0
Non-elderly, no children, non-disabled 8
Non-elderly, with children, non-disabled 40
Elderly, no children, disabled 10
Elderly, with children, disabled 1
Non-elderly, no children, disabled 27
Non-elderly, with children, disabled 8
Distribution by
Family Type (%)
All female headed household with children 42
Elderly, no children, non-disabled 296
Elderly, with children, non-disabled 545
Non-elderly, no children, non-disabled 213
Non-elderly, with children, non-disabled 279
Elderly, no children, disabled 274
Elderly, with children, disabled 360
Non-elderly, no children, disabled 225
Non-elderly, with children, disabled 299
Average Tenant Payment
by Family Type ($)
All female headed household with children 277