March 14, 2018
Total Revenues and Expenses: These data derive from the Statement of Revenues, Expenses, and Changes in Fund Net Position in each of the annual audited financial statements. For comparison, inflation was 19 percent over the same time period. Asked why tenant revenues have increased 61 percent over 10 years, the administration said: “Tenant revenues are increasing because the percentage of occupied units has increased, and HUD issues an FMR [fair market rent] schedule on an annual basis. There have also been increases in the level of resident income during this period that can account for an increase in resident payments.” Asked why administrative costs have increased 71 percent over 10 years, the administration said: “ARHA operates within the funding provided by HUD and other sources within the annual budget as approved by the ARHA Board. … We cannot comment on other Housing Authority operating funding or expenses. ARHA’s overall budget is based on the available funding. Income/expense may increase or decrease annually based on the level of grant funding and tenant income being received. During the 10-year period ARHA demolished, rebuilt and acquired various properties which would have an impact on all aspects of the budget.”
Stories this photo appears in:
Alexandria Housing Authority Resources: Growing and Shrinking
Trends indicated in financial and other records.
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