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TO: THE BOARD OF COUNTY DATE: July 15, 19.87 <br />COMMISSIONERS <br />BOOK � ,,E is <br />SUBJECT. Funding for Housing Authority -. <br />a <br />Finance Director <br />- <br />FROM: REFERENCES: <br />Fi <br />For the 1986-1987 fiscal year, the Board of County Commissioners agreed <br />to transfer $51,025.00 to the Housing Authority to help fund their <br />operating expenditures. The Housing Authority also anticipated receiving <br />two grants, one for $6,295.00 and one for $12,000.00. Total anticipated <br />revenues for the fiscal year are $69,320.00 and total appropriations for <br />the fiscal year are $69,320.00. ,• <br />• i <br />As of July 15, 1987, the Housing Authority has been notified that they <br />would receive the $6,295.00 grant. The Board has also -transferred <br />$50,672.00 of the $51,025 agreed to in the budget workshops. 'I am not <br />aware if the Housing Authority is going to receive the $12,000.00 grant. <br />If the Housing Authority does not receive the $12,000.00 grants they will <br />exhaust all of their financial resources either by the end of July or <br />the middle of August, 1987. I would like to know what the Board wants <br />the Clerk to do once the Housing Authority has used all of their financial <br />resources. <br />Finance Director Fry advised that last year the Housing <br />Authority had budgeted a $12,000 grant, of which they had <br />received $6,100. In the budget hearings for the 187 year, they <br />budgeted that $12,000 grant as anticipated revenue for this year, <br />but it appears at this time they are not going to receive that <br />$12,000 grant which will cause a shortfall in their budget. In <br />addition, they now have been informed that the DCA wants back the <br />$6,100 of the $12,000 grant that they received and spent on <br />rehabilitating retired farmers houses since the DCA says the <br />grant was only to be used for active farmers. The Board had <br />authorized $51,025 to be transferred over to the HA to help pay <br />for their operations based on their receiving the $12,000 grant <br />as well as a grant of $6,295. At this time, the entire $51,025 <br />has been transferred over; the $6,295 grant has been approved and <br />they have started to receive those funds, but they do not appear <br />18 <br />