North Adams Housing Authority Accepts $3.5M Budget for 2015
 Sue Honeycutt, a certified public accountant, reviews the 2015 budget with the Housing Authority Board. |
NORTH ADAMS, Mass. — The Housing Authority Board on Monday accepted a $3.5 million 2015 fiscal budget.
Sue Honeycutt of Fenton & Ewald Associates of Needham, the authority's accountants, presented the 2015 budget during the board's monthly meeting.
She said the budget is secure, and there are no financial issues.
"Financially everything is doing wonderful, and there are no real concerns," Honeycutt said.
She said the federal subsidy calculation of $871,000 is a prediction based on the 2014 fiscal year because the calculation and amount from the U.S. Department of Housing and Urban Development has yet to be received.
"HUD is notoriously late and notorious for making us continue on in our fiscal year without knowing exactly what our subsidy is going to be," Honeycutt said. "It will probably be a half a year into 2015 before they let us know."
She said there was a 3 percent increase in administrative and maintenance salaries, but a $29,000 decrease in maintenance because instead of filling a position the Housing Authority will contract out for help.
Honeycutt suggested the authority spend $140,000 from its reserve fund on larger-ticket items to improve the facilities or for emergency purchases.
These suggested items are not written into the operating budget
"These are larger-ticket items that are being planned to be done during the year," she said. "They will go into this non-routine category even if we don't budget for it because we don't want to put it in general operating when it isn't a general operating item."
Honeycutt said there is $1 million in the reserve account and some of it should be spent.
"It is good to use the reserves somewhat because HUD will look at that at some point and say you have a lot of money so we are going to take some of those reserves back," she said. "It is good to continue to update the properties and do things to lower that balance."
In the Annual Mayor's Report and Capital Improvements Update the authority said it received a $1.8 million grant over five years for performance and renovations from the Comprehensive Grant Program.
The Housing Authority is in negotiations with Louison House on a property on Bracewell Avenue owned by Housing Opportunities Inc. that it uses as a shelter for women and children.
The board is in the process of liquidating the nonprofit organization, which it oversees, that uses government funds to purchase and rehabilitate homes for low-income families, first-time homeowners, and sustainable housing.
HOI is turning many of its properties over to the city, however, Executive Director Jennifer Hohn wants to save the Bracewell property and set up a rent-to-own contract with Louison House.
"We want to make sure that the Louison House is able to maintain their occupancy there and ... we want to ultimately come up with something based on their resources, that are very little," Hohn said. "It is a very successful program, and they have been there about six years so we would hate to see them lose that property."
The board also approved the alteration of the price of shed repair work at the Greylcok Valley Apartments.
The original bid offer said 37 sheds needed repair. In reality, 68 sheds needed to be fixed. The new cost is $221,528.
"Some of them have to be constructed 100 percent because they are rotting, the ceilings are caving in, and people can't even use them," Hohn said. "They are dangerous at this point, and ... these sheds have never been replaced or repaired.
She said the sheds were built some time in 1950s.
Tags: fiscal 2015, Housing Authority, shelter,
