fy2017 approved budget promoting approved budget.pdf · central office cost center narrative 1-4...

PROMOTING Housing Choice

BUDGET SUMMARYHOUSING PROGRAMS

DEVELOPMENT PROGRAMSOTHER PROGRAMSCENTRAL OFFICE

GLOSSARY AND ACRONYMS

F Y 2 0 1 7 A P P R O V E D B U D G E T

F Y 2 0 1 7 A P P R O V E D B U D G E T

PRODUCED BY THEB U D G E T A N D C O M P L I A N C E

D E P A R T M E N T

AND THE C O M M U N I C A T I O N S A N D G O V E R N M E N T

R E L A T I O N S D E P A R T M E N T

As we put the final touches on the FY 2017 capital and operating budget, NRHA staff is busy preparing to move our offices from the Royster

Building at 201 Granby Street to much more contemporary and efficient office space at 555 E. Main Street. Just as NRHA had a choice of office locations we want to provide our citizens with a broad array of quality housing choices; Thus our theme, “Promoting Housing Choice.”

Quality choices require quality communities. In that regard our multifamily properties will receive a projected investment of $113 million in new construction and renovation over the next three to five years.

The Authority’s single family residential development efforts are full speed ahead with significant major new construction planned or underway in Ocean View, Central Brambleton, Berkley, Broad Creek and Huntersville.

Once again NRHA has been designated a “high performer” for management and maintenance of Norfolk’s public housing neighborhoods. This distinction places NRHA in top echelon of housing authorities nationwide and also makes us eligible to compete for federal grants, such as the $2.7 million HUD Jobs Plus grant, secured in December 2015.

All of this activity accounts for a 16 percent increase in the FY 2017 budget of $102 million compared to $87 million in FY 2016. While the proposed budget includes provisions for performance-based pay increases, it is emphasized that the proposed increase results from increased capital investment and not from an increase in staffing levels.

We are anxious to welcome community partners to our new home and foster collaboration that promotes quality housing choices in Norfolk.

John KownackExecutive Director, NRHA

M E S S A G E F R O M T H E

EXECUTIVE DIRECTOR

AUTHORITY GOALS

AUTHORITY VALUES“ A C E I T ”

Quality Housing Opportunities for All - NRHA is committed to providing a continuum of housing options for households of all incomes seeking housing.

Sustainable Mixed-Income Communities - There is a need for a new housing model to create a healthy physical and social environment that would appeal to a wider range of incomes.

Strategic Business Approach - To meet changing requirements and to make the best use of our resources, we are developing a new approach for the delivery of products and services.

Community Support - Recognizing the interrelated nature of our mission, NRHA resolves to work to become a trusted partner that works collaboratively with key stakeholders and partners.

ACCOUNTABILITY EXCELLENCE

INNOVATION TEAMWORK

CUSTOMER SERVICE

iJune 2016NRHA FY2017 Approved Budget

BOARD OF COMMISSIONERS

NRHA is headed by a board of seven commissioners, appointed by Norfolk City Council, who are responsible for determining policy and direction. NRHA Commissioners are residents of Norfolk and serve staggered four-year terms. The board elects a Chairman and Vice Chairman, as well as

selects an Executive Director who is responsible for NRHA’s activities and operations.

The Board elected Barbara Hamm Lee as Chairman and Donald Musaccio as Vice Chairman in July, 2015. Norfolk City Council appointed Suzanne Puryear in January 2016 to fill the unexpired

term of Robert Soble.

To contact a Commissioner, call 757.314.1679

From left to right: Rose M. Arrington, Richard Wells Gresham, Donald J. Musacchio, Barbara Hamm Lee, Suzanne Puryear, Michael Burnette, and Alphonso Albert.

iiJune 2016NRHA FY2017 Approved Budget

Jamie JonesInformation Services

Director

Phyllis ArmisteadChief of Housing

Operations

Richard ArcherHuman Resources

Director

Clara GravesChief Financial

Officer

Kelly HudsonRehabilitation Services

Director

Ed WareCommunications & Government

Relations Director

Jim HollomonChief Development

Officer

Steve MoralesNeighborhood Services

Director

Roy LoehrFinance Director

David HeimDesign & Construction Managment Director

Brenda BennBudget & Compliance

Director

Rick O’NealFacilities Management

Director

Kathy MosleyAdministrative Services

Director

Kim ThomasClient Services

Director

Terri GiulianaStructured Finance

Director

Donna MillsProperty Management

Director

Stephen BlairNeighborhood Programs

Director

Pamela Jones-Watford Housing Choice Voucher

Director

Michael ClarkReal Estate Services

Director

SENIOR MANAGEMENT TEAM

EXECUTIVE LEADERSHIP TEAM

iiiJune 2016NRHA FY2017 Approved Budget

Board of Commissioners

Executive Office

Administrative Operations

Housing Operations

Development Operations

Finance

Administrative Services

Budget & Compliance

Structured FinanceServices

Property Management

Housing Choice Voucher Program

ClientServices

Real Estate Services

Human Resources

Planning/Project Management

Design/ConstructionManagement

Communications/

Neighborhood Programs

Rehabilitation Services

Government Relations

Information Tech

Facilities Management

Program Development

ORGANIZATIONAL CHART

ivJune 2016NRHA FY2017 Approved Budget

READER'S GUIDE & OVERVIEW

TABLE OF CONTENTS

TABLE OF CONTENTS TABLE OF CONTENTS TAB 1 Reader ’s Guide 1-2 Budget Overv iew 3-8

BUDGET SUMMARY TAB 2 Budget Summary by Resources and Expendi tures 1 Proposed Expendi tures 2 Proposed Resources 3 Revenue Compar ison 4 Employee Benef i t and Salary History 6 Tota l Organizat ion Sta f f ing Analys is 7

HOUSING PROGRAMS TAB 3 Housing Program Narrat ive 1-2 Proposed Revenue and Expendi tures 4 BroadCreek Renaissance 5-7 Cot tage Br idge 9-10 Federal ly Aided Housing 11-16 Frankl in Arms 17-18 Grandy Vi l lage Rev i ta l i zat ion 19-20 Housing Choice Voucher Program (HCV) 21-22 Housing Choice Voucher Program (SRO) 23-24 Housing Choice Voucher Safe Harbor Fees 26 Housing Opportuni ty Program 27-28 Job Access/Reverse Commute Program 29-30 Jobs Plus Program 31-32 New Freedom -DPRT 33-34 Publ ic Housing ( HCV and PHFSS Grant ) 35-36 ROSS-Coordinator Grant 37-38 Consol idated Budget for Res ident Serv ices 39 DEVELOPMENT PROGRAMS TAB 4 Deve lopment Program Narrat ive 1-3 Proposed Revenue and Expendi tures 5 Expendi ture Deta i l Supplement Ci ty o f Nor fo lk Funding 6 Program Support and Administrat ion 8 Capi ta l Fund Publ ic Housing 9-12 Capi ta l Improvement Program 13-14 East Beach In i t ia t ives 15-16 5 t h to 7 t h Bay Deve lopment 17-18 Genera l Fund 19-20 HOME Investment Partnership 21-22 HomeNet 23-24

John T. West School S i te Deve lopment 25-26 Loca l Deve lopment Fund 27-28 Low Mod Housing Planning In i t ia t ive 29-30 Pr ivate ly Managed Propert ies -Merr imack Landing Operat ions 31-32 -Merr imack Landing Deve lopment 33-34 -Oakmont North Operat ions 35-36 -Park Terrace 37-38 Fee Schedule Pr ivate ly Managed Propert ies 40 Rehabi l i ta t ion Reserve Account 41-42 Pro jected Avai lable Revenue FY2016 44 OTHER PROGRAMS TAB 5 Other Program Narrat ive 1-2 3rd Party Management Fee Project 3-4 Broad Creek /HOPE VI Closeout 5-6 Broad Creek Vi l lage Center 7-8 Centra l Of f ice Cost Center Of fset 9-10 COCC -Spec ia l i zed Maintenance 11-12 Core Business 13-14 Execut ive Director Cont ingency Fund 15-16 Communicat ions and Government Relat ions 17-18 Hampton Roads Ventures (HRV) 19-20 Pro ject Deve lopment F inancing 21-22 Tax Credi t Res ident ia l Serv ices 23-24 CENTRAL OFFICE COST CENTER (COCC) TAB 6 Centra l Of f ice Cost Center Narrat ive 1-4 Fy2016 COCC Accompl ishments & Goals 5-13 Summary by Funct ional Group 15 Deta i l Centra l Of f ice Cost Center Expendi ture 16-18 Deta i l o f COCC (Spec ia l i zed Maintenance Only ) 19 COCC Overv iew of Serv ices 21-28

COMPONENT UNITS TAB 7 Component Program Narrat ive 1-2 Hampton Roads Ventures L .L .C. 3-4 Miss ion Col lege Apartments , L .P. (MCA) 5-6 Monroe Bui ld ing Governors School for the Ar ts (GSA) 7-8 Nor fo lk Community Campus Corporat ion (NCCCC) 9-10

GLOSSARY AND OTHER ACRONYMS TAB 8 Glossary 1-13 Acronyms 14-15

NRHA’S FISCAL YEAR DIFFERS FROM THE CALENDAR YEAR BY ENCOMPASSING THE 12 MONTH PERIOD DURING WHICH THE ANNUAL OPERATING BUDGET APPLIES (BEGINNING JULY 1, 2016 AND ENDING JUNE 30, 2017).

• Fiscal responsibility with limited resources while providing quality housing services, and • Ensuring affordable housing and the promotion of housing

FY2017 READER’S GUIDE

Each year, the Authority must submit an approved budget to the Board of Commissioners. The Reader’s Guide is a tool which helps the reader navigate the annual budget book, which summarizes the

spending plan for all NRHA-provided programs.

The budget book represents the annual spending plan for the allocation of resources, and provides a wider fiscal and economic picture. This year’s budget includes:

• Staff and non-staff line-item expenditure detail • Financial summary tables and narrative overviews related to operations • NRHA’s programs, financial policies and procedures

A well planned operating and capital budget reaffirm NRHA’s:

NRHA FY2017 Approved Budget

June 2016

Tab 1. Page 1

INFORMATION PROVIDED IS DETAILED AS FOLLOWS:

PROGRAM OR FUND FY14 Actual

FY15 Approved Budget

FY15 Projected

Actual

FY16 Proposed Budget

Revenue: xxxxx - - - -

yyyyy - - - -

Total Revenue $ - - - -

Expenditures

xxxxx - - - -

yyyyy - - - -

Total Expenditures $ - - -

PROGRAM OR FUND FY14 Actual


FY15 Projected

Actual


Revenue: xxxxx - - - -

yyyyy - - - -

Total Revenue $ - - - -

Expenditures

xxxxx - - - -

yyyyy - - - -

Total Expenditures $ - - -

Tab 1 Budget OverviewProvides revenue and an expenditure summary for the total NRHA budget, and indicates the percentage change from prior year.

Tab 2 Budget SummaryProvides The Authority-wide graphical and numerical depictions of expenditure and revenue summaries, sources and comparisons. The expenditure information is presented in accordance with the broad expense categories used by NRHA. It also contains employee benefit and salary history along with NRHA’s workforce demographics.

Tab 3 Housing Operations ProgramProvides detailed budget information for programs administered to provide assisted and/or affordable rental opportunities to the citizens of Norfolk, and encourage them to become economically self-sufficient by linking them to social service programs, and ensuring that they gain necessary skills and resources for long-term success.

Tab 4 Development Operations ProgramThe Development Operations Program provides detailed budget information which includes funding for programs administration in redevelopment, rehabilitation, operation, relocation and homeownership opportunities for Norfolk citizens.

Tab 5 Other ProgramsThis section provides information on administrative services and expenditures of The Authority that benefits all programs, multiple programs, or specific functions of NRHA.

Project Development Financing provides detailed budget information for programs administered to transform physical and social environments of assisted-rental communities, and pursue additional affordable rental housing opportunities to maintain a level of assistance to extremely low income households, and collaborate with human services partners to provide housing resources for “hard-to-serve” populations.

Tab 6 Central Office Cost Center—COCCThis section provides information on central support service expenditures of The Authority which benefits all, or multiple programs, or functions. COCC includes Central Support Staff such as Executive and Administrative Offices, Specialized Maintenance, etc.

Tab 7 Glossary and Other AcronymsThe Glossary provides definitions of programs and budget-related terms used and the meaning of many short references used throughout this document.

Operating Budget Program and Fund SummariesFor each program and fund, summary information is provided on expenditures and revenues. Data is provided for: FY2015 actual results; the FY 2016 approved and projected actual as of 06/30/16; and FY2017 Approved Budget. Sample format below:

FY15 FY16 FY16 FY17Approved


June 2016

Tab 1. Page 2

FY2017 APPROVED BUDGET OVERVIEWTHE INTENT OF THIS DOCUMENT IS TO PROVIDE INFORMATION ABOUT NORFOLK REDEVELOPMENT AND HOUSING AUTHORITY’S SPENDING INTEN-

TIONS, AND THE WIDER FISCAL AND ECONOMIC PICTURE.

OTHER PROGRAMS $4,514,306 | 4%

T he Authority delineates operating and program budgetsfor specific initiatives within conservation neighborhoods,public housing communities and the Housing ChoiceVoucher program.

This budget is designed to afford an easy, readable and understandable document with a detailed breakdown of expenditures by divisions. The budget reaffirms NRHA’s commitment to:

• Fiscal responsibility with limited resources while providing quality housing services, and

• Ensuring affordable housing and the promotion of housing choice opportunities for the citizens of Norfolk.

The Authority proposes FY2017 Budget expenditures of $102,232,302 which represents a net increase of $14,449,764 (16.46 %) over previous year’s amended budget of $87,782,538. This increase reflects new capital investment in housing initiatives while maintaining current staffing levels.

56% HOUSING Provides an ongoing stream of funding that makes up the gap between what low income tenants can afford to pay in rent and the cost of operating housing and resident services programs.

40% DEVELOPMENT Partners with communities to pursue new housing development; develop the existing land inventory; and continue to create a homeowner assistance capacity to include rehabilitation products, homebuyer subsidy, credit repair and counseling. Partners with structured finance programs to redevelop or build new housing properties.

4% OTHERIncludes cost to support internal and external initiatives that are otherwise underfunded or ineligible under federal programs and/or projects that do not exclusively benefit a specific division.

The Consolidated Annual Operating and Capital Budget set forth revenue and expenditures.

HOUSING$56,689,232 | 56%

DEVELOPMENT $41,028,764 | 40%

TOTAL FY2017 BUDGET - $102,232,302


June 2016

Tab 1. Page 3

FY2017 REVENUE SOURCES

NRHA’S revenue streams are supported largely by the U.S. Department of Housing and Urban Development (HUD) (54%) and tenant payments from rent (18%). Additional sources include City of Norfolk Grants from the Capital Improvement Program and General Fund. The most significant increase is

catergorized as Other Income, which includes projected debt financing of renovations and new construction. Revenue projections in the aggregate show a significant increase for FY2017. The table below depicts variances for the five major sources of resources comparing FY2016 to FY2017. Listed below the chart is a variance analysis for each revenue source.

HUD Grant. The net decrease -$1.6M reflects the reduction of planned Capital Fund expenditures and the continuing impact of the loss of CDBG funding from the City.

City Grants. While the City of Norfolk’s FY2017proposed budget contemplates a significant funding reduction for NRHA activities, we have included a net increase here to provide expenditure authority in the event additional city funding is appropriated.

Tenant Revenue. The net increase of $29,165 is derived from increased tenant revenue in Federally Aided and Oakmont North, mitigated by reduced tenant income in Merrimack Landing due to ongoing renovations.

Other Income. The income is dervied from bond fees; developer fees; proceeds from land sales; non rental income and loans. The net increase of $12.5M results from bank financing projected for renovation work in Merrimack Landing ($10.M) and the construction of new infrastructure to support new home development at 5th to 7th Bay Streets in East Ocean View ($2.0M). Developer fees are budgeted to be generated from significant renovation efforts in Young Terrace, Diggs Town, and Merrimack Landing ($500K).

Program Reserves. This funding source includes authorizations of resources accumulated during a prior fiscal period to be utilized for its own fund or another program’s funding gap. Reserves are either program specific ( i.e. Federally Aided and Housing Choice Voucher) or descretionary ( i.e Merrimack Landing and Oakmont North properties).

CityGrants

9%

TenantIncome

18%

HUDGrants54%

OtherIncome

13%

Program Reserves

6%

Authority-wide revenues increased by $14,449,764 (16.46 percent) as compared to FY2016.

Resource Types FY 2016 Approved

Budget


Variance FY2016 vs.

FY2017 HUD Grant 57,270,182$ 55,663,897$ (1,606,285)$ City Grants 5,207,626 8,872,751 3,665,125 Tenant Revenues 17,824,407 17,853,572 29,165 Other Income 996,333 13,501,416 12,505,083 Program Reserves 6,483,990 6,340,666 (143,324) Grand Total 87,782,538$ 102,232,302$ 14,449,764$


June 2016

Tab 1. Page 4

FY2017 RESOURCE TRENDS & PERCENTAGES

Housing Operations - Housing Operations net increase is attributable to the Housing Choice Voucher Program ($414K) for direct HAP payments and ($261K) for Housing Choice Voucher Administrative Fees. Other net increases are created by the use of reserves from privately managed properties and federally aided program reserves ($925K).

Development Operations - net increase reflects the debt financed renovation of the Merrimack Landing Apartments ($11.5M); projected renewal services activities that may be funded by the City of Norfolk ($3.2M); and 5th to 7th Bay Improvements ($2.0M). Other programs funded by or through the City (CDBG, HOME, and General Fund) are projected to decrease by $1.1 million. Reserves from privately managed properties will be utilized for funding gaps in administration and program delivery costs within Development Operations.

Other Operations - net decrease results from the completion of activities authorized in FY2016 that will not be required at the same level in FY2017. During FY2016, $1.2 million was approved from reserves to facilitate NRHA’s move from the 201 Granby Street office building in June 2016. Additionally, funding was approved in FY2016 for predevelopment activities for RAD conversion and estimates have been refined reducing projections by $600,000. Earnings will be the source of revenues for projects within Other Operations. The activities associated with these projects are listed in Tab 5 of the budget document.

The chart below represents a division budget comparison of FY2016 Approved vs. FY2017 Proposed Revenue.

Authority-wide revenue have increased by $14,449,764

(16.46 percent) from FY2016

PROGRAM RESERVES $6,340,666 | 6%

CITY GRANTS $8,872,751 | 9%

OTHER INCOME $13,501,416 | 13%

HUD GRANTS$55,663,897 | 54%

TENANT INCOME $17,853,572 | 18%

Projected Revenue Total Housing Development OtherFY 2017 ($) 102,232,302$ 56,627,102$ 42,956,406$ 2,648,794$ FY 2016 ($) 87,782,538 55,039,421 28,294,272 4,448,845 $ Change 14,449,764$ 1,587,681$ 14,662,134$ (1,800,051)$

% Change (FY16 to FY17) 16.46% 2.88% 51.82% -40.46%% of FY2017 Budget 100.00% 55.39% 42.02% 2.59%

Year to Year Revenue Budget Comparison


June 2016

Tab 1. Page 5

Listed below are other revenue highlights within the budget for FY2017.

• Utilization from the City of Norfolk General Fund appropriation for NRHA program delivery and administration $1.3 million

• Use of $550,000 from the Capital Fund Program in support of Federally Aided Program Operational Costs

• Use of $715,710 of NRHA’s earnings from Privately Managed Properities for the administration of the Housing Choice Voucher Programs

• Use of $221,720 from the earnings of Privately Managed Properties for self-sufficiency services to residents of properties that involve Low Income Housing Tax Credit financing

• Advances of $940,000 from the NRHA Working Fund return on investment for project pre-development financing

• Use of $6.3 million from NRHA discretionary and project specific reserve balances to fund Other Program activities

• Dedication of balances remaining from Empowerment 2010 land sale proceeds for low moderate income housing initatives

• Reduction of Capital Improvement Neighborhood Funding in FY2017 of ($1.9M)

• Renovations of Merrimack Landing

• Development of 5th to 7th Bay Streets in East Ocean View

• Public Housing Transformation and RAD conversion activities

• Performance-based pay increases for NRHA staff

• Increased NRHA share of projected 5.6 percent increase in Health insurance premiums

• Staffing costs continue to be controlled through attrition and position control measures

• Total staffing headcount anticipated to remain level at 295 employees in FY2017

LABOR

OPERATIONCOST

OTHER ADMIN. GENERALEXPENSES

CAPITAL AND MULTI-YEAR PROGRAMS

PROGRAMCOST

EMPLOYEEBENEFITS

CAPITAL

FY2017 TOP SOURCES EXPENDITURES

The FY2017 budget has been balanced through a combination of strategic budget reductions and the use of recurring and non-recurring funds. It is the result of significant deliberations and difficult choices by senior management. It continues the practice of conservative and prudent fiscal planning in the face of a challenging economic climate.

The budget provides continued funding of all services at a base level, but with notable changes from FY2017. Following are a few highlights within the budget for FY2017.


June 2016

Tab 1. Page 6

CAPITAL $172,788 | .2%

EMPLOYEE BENEFITS, $5,648,824 | 5.5%

GENERAL EXPENSE $1,336,744 | 1.3%

OTHER ADMINISTRATION $4,567,241 | 4.5%

PROGRAM COSTS (ANNUAL)

$26,448,449 | 25.9%

LABOR $15,012,882 | 14.7%

CAPITAL & MULTIYEAR PROGRAMS

$31,041,663 | 30.4%

OPERATION COST, $18,003,711 | 17.6%

FY2017 EXPENDITURE TRENDS & PERCENTAGES

Housing Operations - Federally Aided and Cottage Bridge increased direct operational activities of $631,000; Housing Choice Voucher Program (HCV) increased by $416,000 and HCV Administration increased by $262,000, while other grants experienced a net reduction of $306,000. This reduction includes grants for transportation, employment and self-sufficiency initiatives.

Development Operations - Merrimack Landing renovations and projected infrastructure installation for the development of new homes at 5th to 7th Bay Streets comprise most of the projected increase in spending. The City increased funding for the HOME and General Fund programs by $446K, but eliminated the Neighborhood Capital Improvement Program of $1.9M. This budget proposal includes authority to expend City funding for continued neighborhood renewal services in the event funding is provided by the City. A reduction of CDBG funding of $1.6M is reflected in FY2017 from prior year balances for Rehabilitation Loans, administration and program delivery. Other increases are from developer fees to support administration and program delivery for the Division.

Other Operations - The net decrease is largely due to the reduction in reserve funding for the 201 Granby Street office building move and realignment of expenditure projections for RAD conversion activities. There is an increase in support of COCC Administration, Specialized Maintenance and IT services $464,000. The activities associated with these projects are listed in Tab 5 of the budget document.

Authority-wide expenditures have increased by $14,449,764 (16.46 percent) from FY2016

The chart below represents a division budget comparison of FY2016 Approved vs. FY2017 Proposed Expenditures.

Projected Expenditures Total Housing Development OtherFY 2017 ($) 102,232,302$ 56,689,232$ 41,028,764$ 4,514,306$ FY 2016 ($) 87,782,538 55,687,230 26,171,697 5,923,611 $ Change 14,449,764$ 1,002,002$ 14,857,067$ (1,409,305)$

% Change (FY16 to FY17) 16.46% 1.80% 56.77% -23.79%% of FY2017 Budget 100.00% 55.45% 40.13% 4.42%

Year to Year Expenditure Budget Comparison


June 2016

Tab 1. Page 7

PROMOTING Housing Choice

This budget serves as the annual financial plan for Norfolk Redevelopment and Housing Authority. It establishes what programs and services are funded, how monies are to be spent and what revenues are available to fund those programs and services. The proposed budget is balanced by the use of earnings from valued assets and targeted reserves to support traditional funding sources (HUD and the City of Norfolk), which have been increasingly unstable. NRHA remains in sound financial condition, having adequate balances to maintain the Authority’s commitment to provide neighborhood revitalization services and rental assistance to disadvantaged families.

The executive team provided staff with some specific guidelines for preparing the FY2017 budget. With limited growth in resources and expected cost inflation pressures in many of the most routine operational expenditures, general directions included the need to hold the line where possible on personnel and other expenditures. However the proposed budget is recommending a pay for performance system for the second year to acknowledge the outstanding work of our employees.

The Authority continues to work towards establishing what the “new normal” of housing assistance looks like in the 21st century. Still, this budget responds to evolving needs and community priorities in a manner that promotes housing choice.

As always, NRHA’s priority must be on meeting the needs of those we serve while striving to work in the most cost effective manner. Staff, stakeholders and partners will continue to collaborate on the identification of coming trends that will shape our work in the future.

IN SUMMARY

WWW.NRHA .US


June 2016

Tab 1. Page 8


June 2016

Tab 1. Page 9

BUDGET SUMMARYBUDGET SUMMARYHOUSING PROGRAMS

DEVELOPMENT PROGRAMSOTHER PROGRAMSCENTRAL OFFICE


Descriptions Authority WidePercentage of Authority

Total

Authority Wide Direct

Labor

Central Administrative

Offices

Central Housing

Management Offices

Specialized Maintenance

Percentage of Expenditures

Resources

HUD Grants $ 55,663,897 54.4%

City Grants 8,872,751 8.7%Tenant Income 17,853,572 17.5%Other Income 13,501,416 13.2%Appropriations of Program Reserves 6,340,666 6.2%

Resources Total $ 102,232,302 100.0% - -

ExpenditureLabor $ 15,012,882 14.7% 8,796,884 3,028,356 848,616 2,339,026 20.8%Employee Benefits 5,648,824 5.5% 3,289,366 1,098,394 319,451 941,613 7.8%Other Administration 4,567,241 4.5%Program Costs 26,448,449 25.9%General Expense 1,336,744 1.3%Capital 172,788 0.2%Operation Cost 18,003,711 17.6%Capital & Multiyear Programs 31,041,663 30.4%

Expenditure Total $ 102,232,302 100.0%

FISCAL YEAR 2017NRHA Approved BUDGET

SUMMARY BY RESOURCES AND EXPENDITURES


June 2016

Tab 2. Page 1

Total Housing Development OtherCOCC Admin and

Housing

DescriptionLabor 15,012,882$ 8,214,046$ 2,360,257$ 561,607$ 3,876,972$ Employee Benefits 5,648,824 3,206,282 833,608 191,089 1,417,845 Other Administration 4,567,241 2,227,245 151,387 2,825,068 (636,459) Program Costs (Annual) 26,448,449 26,083,317 365,132 - Operation Cost 18,003,711 12,210,787 5,791,534 1,390 General Expense 1,336,744 1,336,744 - - Capital 172,788 172,788 - - Capital & Multiyear Programs 31,041,663 - 30,241,663 800,000

Total 102,232,302$ 56,689,232$ 41,028,764$ 4,514,306$ -$

FY2017 Approved Expenditures $102,232,302

Labor$15,012,882

14.7%

EmployeeBenefits,$5,648,824

5.5%Other

Administration$4,567,241

4.5%

ProgramCosts(Annual)$26,448,449

25.9%OperationCost$18,003,711

17.6%GeneralExpense$1,336,744

1.3%

Capital$172,788.2%

Capital&MultiyearPrograms$31,041,663

30.4%


June 2016

Tab 2. Page 2

Development Housing Other HUD GrantsHousing Choice Voucher $ 27,930,068 - 27,930,068 - Federally Aided Housing 13,432,183 - 13,432,183 - Grandy Village Revitalization 1,094,052 - 1,094,052 - Franklin Arms 368,976 - 368,976 - Broad Creek Renaissance (TCB) 752,760 - 752,760 - Park Terrace 316,357 316,357 - - Capital Grants 9,218,638 9,218,638 - - Jobs Plus 691,300 - 691,300 - New Freedom - DPRT 334,254 - 334,254 - Public Housing and HCV FSS Ross Grant 345,450 - 345,450 - ROSS Service Coordinator Grant 250,636 - 250,636 - Job Access/Reverse Commute - HCV 54,250 - 54,250 - Job Access/Reverse Commute - New Freedom 55,073 55,073 - HomeNet 90,882 90,882 - - HOME 729,018 729,018 - Total $ 55,663,897 10,354,895 45,309,002 - City GrantsGeneral Fund $ 3,122,751 3,122,751 - - Capital Improvement Program 5,750,000 5,750,000 - - Total $ 8,872,751 8,872,751 - - Tenant incomeFederally Aided Housing $ 8,367,577 - 8,367,577 - Grandy Village Revitalization 1,066,728 - 1,066,728 - Franklin Arms 226,953 - 226,953 - Cottage Bridge 345,009 - 345,009 - Oakmont North 3,879,353 3,033,925 33,792 811,636 Park Terrace 238,656 238,656 Merrimack Landing 3,614,796 2,532,582 28,338 1,053,876 Marriott Rent 114,500 114,500 - - Total $ 17,853,572 5,919,663 10,068,397 1,865,512 Other incomeInterest $ 2,996 2,996 - - Proceeds from Property Sales and Notes 2,314,167 2,314,167 - - - HomeNet 25,000 25,000 - - - Project Delivery Fees 557,299 - 557,299 - Other 10,601,954 10,450,000 136,549 15,405 - Total $ 13,501,416 12,789,167 139,545 572,704 Appropriations from Program Reserves EZ 2010 Land Sale Proceeds $ 51,839 51,839 - - Federally Aided Reserves 461,249 461,249 Capital Fund Administration 53,154 53,154 - - Park Terrace Reserves 54,567 54,567 - - Franklin Arms 13,906 - 13,906 Specialized Maintenance 671,228 - - 671,228 Housing Opportunity 43,545 - 43,545 COCC Administration 519,333 - - 519,333 Broad Creek/HOPE IV Closeout 75,000 - - 75,000 Rera 7,000 7,000 - Merrimack Landing Development 2,500,000 2,500,000 - Working Fund - Project Development Financing 940,000 140,000 - 800,000 Management Fee Project 10,529 - 10,529 Own Reserves Used to Balance Program 5,401,350 2,806,560 518,700 2,076,090 Privately Managed Reserves 939,316 285,728 653,588 - Total Reserves Use for Other Program 939,316 285,728 653,588 - Total Use of All Reserves 6,340,666 3,092,288 1,172,288 2,076,090 NRHA Total Resources $ 102,232,302 41,028,764 56,689,232 4,514,306

FY2017 APPROVED RESOURCES $102,232,302

HUD Grants$55,663,897

54%

City Grants$8,872,751

9%

Tenant Income$17,853,572

18%

Other Income$13,501,416

13%

Program Reserves$6,340,666

6%

Approved Resources FY2017

‐

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

AMOUNT

REVENUE

Budget Comparison ‐ FY2016 vs. FY2017

FY 17 Budget

FY 16 Budget


June 2016

Tab 2. Page 3

Approved FY 2012

Approved FY 2013

Approved FY 2014

Approved FY 2015

Approved FY 2016

Approved FY 2017

Annual $ Change

Annual % Change

HUD Grants

Housing Choice Voucher $ 23,892,954 26,329,768 24,264,981 25,898,360 26,933,271 27,573,618 640,347 2%

Housing Choice Voucher SRO 289,689 289,689 357,070 369,352 350,569 356,450 5,881 2%

Federally Aided Housing 15,755,751 15,908,920 14,029,835 12,655,694 12,637,723 12,882,183 244,460 2%

Grandy Revitalization - - - 1,099,062 1,074,606 1,094,052 19,446 2%

Franklin Arms - - - 340,485 356,779 368,976 12,197 3%

CottageBridge - - - - 227,593 - (227,593) N/A

BroadCreek Renaissance (TCB) - - - 735,243 740,829 752,760 11,931 2%

Park Terrace 323,278 345,511 345,511 347,389 316,965 316,357 (608) 0%

HOPE VI 5,000 - - - - - - N/A

HOPE VI CSS Endowment Grant 374,357 267,571 179,303 - - - - N/A

Capital Grants 9,842,806 7,627,684 8,403,578 7,251,693 10,302,912 9,218,638 (1,084,274) -12%

Capital Grants (Stimulus) 857,078 - - - - - - N/A

Capital Fund Grant for Operations 1,200,000 - 940,000 615,363 642,563 550,000 (92,563) -17%

ROSS Grants 141,481 125,844 127,412 129,538 - - - N/A

Ross Service Coordinator Grant 190,310 205,163 236,345 294,463 250,636 (43,827) -17%

Job Access Grant 466,715 474,061 441,833 423,369 - - N/A

Job Access Freedom Grant 159,500 94,346 284,037 - 55,073 55,073 100%Job Access HCV 224,380 - 54,250 54,250 100%

New Freedom -DPRT - - - - - 334,254 334,254 100%

Jobs Plus - - - - 800,000 691,300 (108,700) -16%

Community Development Block Grant 3,569,331 3,008,704 2,804,033 2,402,258 1,681,293 - (1,681,293) N/A

Public Housing & HCV FSS Ross - - - - 328,757 345,450 16,693 5%

HomeNet 82,625 82,625 83,902 96,382 134,427 90,882 (43,545) -48%

Home 1,724,604 737,819 793,276 834,194 632,179 729,018 96,839 13%

Total $ 59,545,029 55,811,006 53,070,243 53,943,144 57,454,929 55,663,897 (1,791,032) -3%

City Grants

General Fund $ 1,874,684 2,521,546 2,796,339 2,545,312 2,707,626 3,122,751 415,125 13%Capital Improvement Program 6,220,000 4,659,765 6,331,265 7,250,000 2,500,000 5,750,000 3,250,000 57%

Total $ 8,224,684 7,311,311 9,127,604 9,795,312 5,207,626 8,872,751 3,665,125 40%

Tenant income

Federally Aided Housing $ 9,404,733 9,391,514 9,165,202 8,100,851 8,583,997 8,367,577 (216,420) -3%

Grandy Revitalization - - - 1,100,302 1,024,829 1,066,728 41,899 4%

Franklin Arms - - - 243,380 142,625 226,953 84,328 37%

Cottage Bridge - - - - 57,414 345,009 287,595 83%

Oakmont North 3,434,572 3,573,619 3,589,618 3,747,844 3,871,620 3,879,353 7,733 0%

Park Terrace 237,473 211,765 211,765 215,784 220,263 238,656 18,393 8%

Marriott Rent 109,000 105,011 115,000 115,000 114,500 114,500 - 0%

Merrimack Landing 4,005,061 4,107,624 4,290,519 4,186,564 3,581,566 3,614,796 33,230 1%

Total $ 17,190,839 17,389,533 17,372,104 17,709,725 17,596,814 17,853,572 256,758 1%

Other income

Interest $ - 2,334 17,625 6,215 7,000 2,996 (4,004) -134%Proceeds from Property Sales and Notes 750,738 313,550 280,422 272,246 188,000 272,500 84,500 31%

Private Bank Funds 880,000 600,000 - - - 12,000,000 12,000,000 100%

Hampton Roads Transit - - - - - - N/A

Hampton Boulevard 4,148,560 3,130,400 3,796,000 - - - - N/A

HomeNet - 3,640 - 16,322 23,320 25,000 1,680 7%

Project Delivery Fees 448,259 493,250 525,686 417,652 502,352 1,007,299 504,947 50%

Other 443,960 582,077 362,279 219,291 318,507 193,621 (124,886) -65% Total $ 6,671,517 5,125,251 4,982,012 931,726 1,039,179 13,501,416 12,462,237 1199%Earnings

Merrimack Landing $ 952,845 999,571 - - - - - N/A

Oakmont 460,125 619,107 - - - - - N/A

Total $ 1,412,970 1,618,678 - - - - - N/A

Appropriations from Program Reserves

Housing Choice Voucher $ - - 301,545 - - - - N/A

Capital Fund Administration - - - - - 53,154 53,154 100%

Franklin Arms - - - - - 13,906 13,906 100%

Housing Opportunities 44,825 344,520 211,625 175,371 182,833 43,545 (139,288) -320%

Park Terrace 108,315 109,670 109,670 144,318 50,040 54,567 4,527 8%

Management Fee - - - 5,447 10,529 5,082 48%

Federally Aided Housing Reserves 957,026 650,000 1,212,709 - - 461,249 461,249 100%

Rera 25,700 25,700 25,500 27,500 27,500 7,000 (20,500) -293%

BroadCreek Reserves - 30,000 30,000 - - - - N/A

MidTown Revolving (UDAG Surplus) - 198,944 99,469 - - - - N/A

EZ 2010 Proceeds from Land Sales - - - 128,502 133,177 51,839 (81,338) -157%

201 Granby Building - 259,351 70,594 1,234,903 - (1,234,903) N/A

COCC Administration - 657,671 890,501 - 134,460 519,333 384,873 74%

COCC Specialized Maintenance - - 654,182 910,187 569,261 671,228 101,967 15%

Other Development Reserves 318,637 - (318,637) N/A

Merrimack Landing 755,729 - 1,107,830 640,000 3,382,732 939,316 (2,443,416) -260%

Merrimack Landing Replacement - - - - - 2,500,000 2,500,000 100%

BroadCreek/HOPE VI Reserves - - - 75,000 75,000 75,000 - 0%

Working Fund - - - - 370,000 940,000 570,000 61%

Total $ 1,891,595 2,016,505 4,902,382 2,171,472 6,483,990 6,340,666 (143,324) -2%

NRHA Total Resources $ 94,936,634 89,272,284 89,454,345 84,551,379 87,782,538 102,232,302 14,449,764 16.15%

FY2017 Revenue Comparison


June 2016

Tab 2. Page 4

PAGE INTENTIONALLY LEFT BLANK


June 2016

Tab 2. Page 5

FY09 Actual FY10 Actual FY11 Actual FY12 Actual FY13 Actual




FY2017 Approved Budget Change

BenefitsHealth Insurance 1,377,611 1,489,997 1,836,353 1,706,545 1,699,434 1,864,846 1,928,990 1,957,404 2,062,450 105,046 FICA Taxes & Unemployment 1,294,569 1,156,740 1,260,302 1,120,837 1,199,811 1,210,978 1,140,915 1,123,887 1,215,308 91,421 VRS (Life) 149,537 84,161 0 38,135 166,329 169,569 176,563 161,953 192,690 30,737 VRS (Retirement) 2,104,860 2,001,496 2,245,843 2,094,673 1,842,183 1,859,964 1,960,171 1,996,683 1,794,444 (202,239) Terminal Leave 199,296 88,756 196,248 244,417 0 191,621 182,435 184,466 195,463 10,997 Worker's Compensation 160,000 164,168 190,576 117,408 53,776 184,360 173,693 171,101 185,019 13,918 Parking 79,668 81,402 71,836 85,238 73,111 - - - - Uniforms - 7,438 3,426 9,797 4,063 4,013 5,065 4,338 3,450 (888)

Total Employee Benefits 5,365,541 5,074,158 5,804,584 5,417,050 5,038,707 5,485,351 5,567,832 5,599,832 5,648,824 48,992

LaborDevelopment Admin 2,289,896 2,085,675 2,114,391 2,154,557 1,665,484 1,586,085 1,353,861 1,239,521 2,095,913 856,392 Community Development Maintenace 212,000 191,338 200,618 9,280 Development (HOMENET) 183,411 6,714 33,147 38,428 96,258 96,387 100,110 91,020 104,600 13,580 Housing 8,575,524 9,246,315 9,979,773 9,909,127 10,396,389 9,923,628 9,277,837 9,148,020 8,882,599 (265,421) HOPE VI 554,576 428,456 365,853 286,367 - - - - - COCC Executive and Admin 4,092,197 2,981,992 2,888,123 2,892,300 3,281,018 2,791,613 2,659,562 2,968,715 3,028,356 59,641 Workforce Youth 105,000 18,979 - - - - - - - Government Relations - - - - - 218,506 215,045 223,604 245,588 21,984 Hampton Roads Ventures - - - - - 85,834 15,822 12,000 11,392 (608) Structured Finance - - - - - 180,502 182,811 190,124 304,627 114,503 Management Fee Project - 56,504 82,547 74,455 78,588 76,844 76,844 231,126 139,189 (91,937)

Total Labor 15,800,604 14,824,635 15,463,834 15,355,234 15,517,737 14,959,399 14,093,892 14,295,468 15,012,882 717,414

Staffing Counts FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 * FY2017 Change

Development 44 41 40 40 30 31 30 37 37 -

Housing 211 225 225 230 230 221 210 204 204 -

Housing Reinvention 7 7 7 7 - - - - - -

Administration 52 54 52 51 51 48 45 54 54 -

Total Labor 314 327 324 328 311 300 285 295 295 -

* FY2016 Staffing Counts Amended

FY2017 Employee Benefit and Salary History


June 2016

Tab 2. Page 6

NRHA Staffing DashboardAs of Friday, May 13, 2016 Total Employees 292Workforce Distributions

By Age By Length of Service (LOS) in Years

Average Employee Age: 50.27 Average Employee LOS in Years: 12.56

14

36

41

201

By DivisionHousing Operations 68.8%

Development Operations 14.0%

Administative Operations 12.3%

Executive Office 4.8%

5

18

269

By Employee StatusRegular Full Time 92.1%

Regular Part Time 6.2%

Temporary 1.7%

2

8

30

51

85

116

By Race and GenderBlack Females 39.7%

Black Males 29.1%

White Males 17.5%

White Females 10.3%

Other Males 2.7%

Other Females 0.7%

012

41

68

115

37

19

<=19 20 - 29 30 - 39 40 - 49 50 - 59 60 - 64 >=65

7764

3746

2819 21

<=4 5 - 9 10 - 14 15 - 19 20 - 24 25 - 29 >=30


June 2016

Tab 2. Page 7


June 2016

Tab 2. Page 8



June 2016

Tab 2. Page 9

HOUSING PROGRAMSBUDGET SUMMARY

HOUSING PROGRAMSDEVELOPMENT PROGRAMS

OTHER PROGRAMSCENTRAL OFFICE


Housing Division Overview Summary (FY2017)

Housing Division revenues and expenditures total $56,689,232 and are de-rived from HUD operating subsidies, grants, tenant income, and other in-come. The operational shortfall projected in FY2017 for the Federally Aided Program ($1.1M) is recommended to be funded from Capital Fund and their own reserves. Housing Choice Voucher Program shortfall ($715K) is recommended to be funded from earnings and privately managed reserves.

As we continue to pursue the Rental Assistance Demonstration (RAD) pro-gram in FY2017 our expenditure projections will fluctuate as we develop plans for the conversion. At the same time our focus will be on efforts to manage and maintain 3,203 assisted rental units as well as 2,990 Housing Choice Vouchers for participants in two major programs. Capital Funds are under the umbrella of the Development Division under a newly created Design and Construction Management Department and funding is still provided for capital improvements to maintain aging stock and infrastruc-ture of the public housing properties. NRHA must constantly replace roof-ing, heating systems, windows, doors, flooring and other items in the feder-ally assisted public housing communities.

Other housing programs consist of several miscellaneous grants that pro-vide services to our residents which include Job Access Grants, ROSS Ser-vice Coordinator and Family Self Sufficiency grants, Jobs Plus, and the Housing Opportunity (Homeownership) Program. Comprehensive resi-dent services initiatives are included in the FY2017 budget and are de-signed to empower household self-sufficiency focusing on education and

employment.

SUMMARY

FY

2017

HO

US

ING

OV

ER

VIE

W

CHALLENGES

Our biggest budgetary challenges will be the Public Housing and Housing Choice Voucher Programs. HUD has funded our Public Housing operating subsidy for FY2017 at 87.62% of the base calculation for what it costs to operate our com-munities, resulting in a funding gap of $2.1 million. Likewise, in the Housing Choice Voucher Program, our administrative fees are at 80%; the loss of revenue still continues. Given recent Congressional funding decisions this trend may continue indefinitely.


June 2016

Tab 3. Page 1

Prepare revitalization efforts for communi-ties identified to be converted to Project Based Voucher communities.

Revitalize communities based on compre-hensive physical and capital needs assess-ments.

Re-evaluate business systems and proce-dures for LIPH and HCV to address RAD conversions.

Maintain high performer scores for LIPH and HCV program.

Develop and implement Community Stand-

ards for public housing communities.

Convert 70 housing choice vouchers to support the construction of new assisted rental units at Grandy Village (Phase VI).

Develop effective outreach events for HCV landlords.

Submit 5 Year and Annual Plans for As-sisted Rental & HCV that addresses RAD and related community revitalization goals.

MAJOR GOALS

Utilized replacement housing factor funds to construct 16 public housing units in Grandy Village.

50 replacement housing units currently under construction in the Marshall Manor section of Broad Creek to replace Moton Circle units..

19 out of 20 properties have received REAC scores above 80. Of those, 11 properties have received scores above 90.

NRHA was awarded a $2.7 million Jobs Plus grant to assist Young Terrace residents find jobs.

Calvert Square Family Investment Center was renovated using Capital Fund to accommodate increased usage and reduce the digital divide in our communities.

Currently reviewing partnerships and building new partnerships to provide a more holistic approach to service delivery. Core teams were developed in each public housing community to address issues.

Accessed funding to rebuild and sustain programs targeted at youth residents. Engaged more youth residents in organized programs and activities; over 100% increase from the previous year .

NRHA continues to partner with the Veterans Administration, local housing authorities and agencies to reduce homelessness.

Security Program and its partners sponsored an event for girls 6 to 12 years of age from NRHA’s public housing communities entitled “Cops and Curls”. This red carpet event will be held annually and possibly kick off future mentoring initiatives.

Under the Rental Assistance Demonstration (RAD) program, NRHA received a portfolio award to convert units in Young Terrace, Diggs Town, North Wellington, Grandy Village, and Franklin Arms to project based vouchers.

FY 2016 ACCOMPLISHMENTS


June 2016

Tab 3. Page 2



June 2016

Tab 3. Page 3

HOUSING PROGRAMSProjected Revenue and Expenditures

Approved Revenue Fiscal Year 2017Amount %

Housing Division Revenues

Housing Choice Voucher - HUD PHA Grants (for HAP) 25,642,625$ 45.23%Federally Aided Communities - HUD PHA Grants * 15,097,971 26.63%Operating Receipts - Federally Aided Housing 9,661,258 17.04%Operating Receipts - Cottage Bridge 153,672 0.27%Capital Grant Program - HUD PHA Grants for LIPH 550,000 0.97%Program Reserves - Federally Aided 475,155 0.84%New Freedom - DPRT 334,254 0.59%Housing Choice Voucher - HUD PHA Grants (Adm) 1,930,993 3.41%Cottage Bridge - HUD PHA Grants (for HAP) 191,337 0.34%Jobs Plus 691,300 1.22%Housing Choice Voucher SRO - HUD PHA Grants 356,450 0.63%Ross Grant Service Coordinator 250,636 0.44%Job Access/Reverse Commute Program New Freedom 55,073 0.10%Housing Opportunity Program Reserves 43,545 0.08%Job Access/Reverse Commute Program HCV 54,250 0.10%Other Revenue- External Sources 139,545 0.25%ROSS (PH and HCV Family Self Sufficiency Grant) 345,450 0.61%Privately Managed Reserves for HCV Administration 653,588 1.15%Earning Transferred to Other Programs from Merrimack and Oakmont Operating Receipts 62,130 0.11%

Total Approved Revenues 56,689,232$ 100.00%

Approved ExpendituresAmount %

Housing Division ExpendituresFederally Aided Housing Programs 22,315,983$ 39.37%Grandy Village Revitalization 2,236,682 3.95%Franklin Arms 610,579 1.08%Broad Creek Renaissance (TCB) 752,760 1.33%Cottage Bridge 345,009 0.61%Housing Choice Voucher (HAP) 25,642,625 45.23%New Freedom - DPRT 334,254 0.59%Jobs Plus 691,300 1.22%Housing Choice Voucher Program (Administration) 2,626,298 4.63%Job Access/Reverse Commute Grant 109,323 0.19%Housing Choice Voucher SRO 384,788 0.68%ROSS Service Coordinator Grant 250,636 0.44%Housing Opportunity Program 43,545 0.08%ROSS Grant PH and HCV Family Self Sufficiency Grant 345,450 0.61% Total Approved Expenditures 56,689,232$ 100.00%


June 2016

Tab 3. Page 4

BROADCREEK RENAISSANCE

OVERVIEW

In 2000, Norfolk obtained a $35 million HOPE VI grant and enlisted the Community Builders, Inc. (TCB) to implement NRHA’s vision of a revitalized neighborhood where the demolished public housing communities of Roberts Village and Bowling Green once stood. Completed in 2006, the new neighborhood is called “BroadCreek Renaissance”, after a nearby body of water. The neighborhood consists of 490 mixed-income units of family rental, senior rental, and for-sale homes.

TCB’s role included master developer of six of the seven rental phases, coordination of the demolition, infrastructure engineering, and multifamily property management.

PROGRAM INITIATIVES

Maintain high performance rating for Low Income Public Housing.

Asset Management

Ongoing Maintenance

FUNDING METHODOLOGY

Under project-based funding, PHAs will complete a separate subsidy form for each project. A major component of a projects subsidy calculation will be its Project Expense Level, or PEL. The PEL is a model-generated estimate of the cost to operate the project, excluding utilities and taxes. It is based on the costs of operating other federally-assisted housing projects with similar characteristics (building type, location, number of bedrooms per unit, etc.)

Tenant Rent for Public Housing is referred to as the Total Tenant Payment (TTP) and would be based on a family’s anticipated gross annual income less deductions, if any, HUD regulations allow PHAs to exclude from annual income the following allowances: $480 for each dependent; $400 for any elderly family, or a person with a disability; and some medical deductions for families headed by an elderly person or a person with disabilities, and each additional member of the family 18 years of age or older.


June 2016

Tab 3. Page 5


FEDERALLY AIDED HOUSING FY15 Actual


FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - Tenant Revenue - Other - - HUD PHA Grants 726,692 740,829 750,936 752,760 Interest Income - - Proceeds from Property Sales - - Other Revenue (External Source) - -

Total Revenue $ 726,692 740,829 750,936 752,760

Expenditures

Administrative and Program Delivery:Labor:

Administration $ - -

Resident Services - -

Maintenance - -

Program - -

Total Labor $ - - - -

Other Administration - -

Other (Interproject Fee for Services) - -

Employee Benefits - -

Management Fees - -

Total Admin & Program Delivery Exp. $ - - - - Program Expenses:Resident Services $ - -

Utilities - -

Maintenance - -

Specialized Maintenance - -

Protective Services - -

Operating Subsidy Payment 726,692 740,829 750,936 752,760

General Expense - - Interest Expense -

Principal Payment on Debt -

Capital Expenditures - -

Total Program/Operating Expenses $ 726,692 740,829 750,936 752,760 Surplus (Deficit) From Operations $ - - - -

Depreciation (Not Included in Totals) $ - - -

Provision For Reserves:Actual Reserves June 30, 2015 $ 530,303 - -

Projected Reserves June 30, 2016 $ 530,303

Projected Reserves June 30, 2017 $ 530,303


June 2016

Tab 3. Page 6

Transactions Type Line Item DescriptionsBowling Green II

(VA26)Bowling Green Ill

(VA 28)Bowling Green IV

(VA 30)Marshall Manor II

(VA 27)Marshall Manor Ill

(VA 29)Marshall Manor

IV (VA 31)Grand Total

Resources Total HUD PHA Grants 71,880 116,196 83,424 191,088 211,032 79,140 752,760

Net Tenant Rental Revenue -

Tenant Revenue - Other -

Other Revenue -

Interest Income -

Resources Total 71,880 116,196 83,424 191,088 211,032 79,140 752,760

General Expense 71,880 116,196 83,424 191,088 211,032 79,140 752,760

Other -

Expenditure Total 71,880 116,196 83,424 191,088 211,032 79,140 752,760

Net Surplus/(Defict) - - - - - - -



June 2016

Tab 3. Page 7



June 2016

Tab 3. Page 8

COTTAGE BRIDGE

OVERVIEW

Norfolk Redevelopment & Housing Authority’s most recent project, The Cottage Bridge Midrise is a new apartment complex adjacent to Partrea Midrise. The project has a total of 47 newly constructed energy efficient apartment units comprised within one, three-story building.

The facility includes office and administration areas and a community room. All units are designed to meet ADA(Americans with Disability Act) accessibility standards for residents with disabilities and are Type A wheelchair accessible.

Previously, an underutilized infill development, it is now a gorgeous apartment complex providing affordable housing to disabled residents in the City of Norfolk.

In 2012, NRHA was awarded a low income housing tax credits for the development of Cottage Bridge apartments. NRHA awarded 47 Project Based Vouchers for the Cottage Bridge Apartments. The complex is owned by NRHA Partrea Limited Partnership, a Virginia limited partnership and Norfolk Redevelopment and Housing Authority.

PROGRAM INITIATIVES

Provide affordable housing choices for low-income, elderly and disabled households by providing rental assistance.

FUNDING METHODOLOGY

Tenant payments for rent, utilities and other fees, in addition to subsidy from HUD make up total income for this project.


June 2016

Tab 3. Page 9

COTTAGE BRIDGE

CAPITAL FUND FY15 Actual


FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - 341,390 151,461 151,392 Tenant Revenue - Other - 2,300 2,330 2,280 HUD PHA Grants - 227,593 455,254 431,640 Interest Income - - - - Other Revenue (External Source) - - - -

Total Revenue $ - 571,283 609,045 585,312

Expenditures


Administration $ - 22,517 8,072 33,870

Resident Services - - 1,588 -

Maintenance - 15,792 38,817 28,945

Program - - - -

Total Labor $ - 38,309 48,477 62,815

Other Administration - 27,521 19,672 44,914

Other (Interproject Fee for Services) - 5,023 4,396 2,299

Employee Benefits - 13,645 15,022 13,619

Management Fees - 32,526 35,429 34,982

Total Admin & Program Delivery Exp. $ - 117,024 122,996 158,629

Program Expenses:

Resident Services $ - 1,500 3,992 3,574

Utilities - 53,400 77,826 50,604

Maintenance - 23,280 18,919 36,262

Specialized Maintenance - 13,462 15,274 24,746

Protective Services - 32,000 28,407 32,000

General Expense - 44,341 27,949 39,194

Interest Expense - - - -

Principal Payment on Debt - - - -

Equipment (Non Expendable/Hardware) - - - -

Other - - - -

Capital Expenditures - - 1,200 -

Total Program/Operating Expenses $ - 285,007 296,563 345,009

Surplus (Deficit) From Operations $ - 286,276 312,482 240,303

Appropriation for other program $ - - - - Depreciation (Not Included in Totals) $ - - - -

Provision For Reserves:

Actual Reserves June 30, 2015 $ - - - -

Projected Reserves June 30, 2016 $ - - 312,482 -

Projected Reserves June 30, 2017 $ - - - 552,785


June 2016

Tab 3. Page 10

FEDERALLY AIDED PROGRAM

OVERVIEW

The overall objective of the Public and Indian Housing program is to provide and operate cost-effective, decent, safe and affordable dwellings for lower income families through an authorized local Public Housing Agency (PHA). Public Housing comes in all sizes and types, from scattered single family houses to high-rise apartments for elderly families. Norfolk Redevelopment and Housing Authority administer 3,237 housing units for low-income residents at rents they can afford.

PROGRAM INITIATIVES

Maintain high performance rating for Low Income Public Housing Program

Concentrate efforts to address safety and security in Public Housing Communities.

Develop and implement community standards to improve curb appeal.

FUNDING METHODOLOGY

Under project-based funding, NRHA completes a separate subsidy form for each project. A major component of a project’s subsidy calculation is its Project Expense Level, or PEL. The PEL is a model-generated estimate of the cost to operate the project, excluding utilities and taxes. It is based on the costs of operating other federally-assisted housing projects with similar characteristics (building type, location, number of bedrooms per unit, etc.)


June 2016

Tab 3. Page 11

FEDERALLY AIDED HOUSING (Non-Tax Credit Projects)



FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ 7,611,256 7,752,909 7,683,652 7,681,454 Tenant Revenue - Other 614,624 831,088 604,996 686,123 HUD PHA Grants 12,552,101 12,637,724 12,807,547 12,882,183 Interest Income 674 630 645 687 Other Revenue (External Source) 2,189 58,901 48,812 54,287 Operating Transfer In

Earnings from other Program Appropriations from other Program 750,000 642,563 375,245 550,000

Appropriation of Federally Aided Reserves 461,249

Total Revenue $ 21,530,844 21,923,815 21,520,897 22,315,983

Expenditures


Administration $ 1,065,647 1,137,525 1,133,465 1,184,097

Resident Services 185,240 372,849 300,668 343,381

Maintenance 1,525,000 1,548,401 1,513,076 1,550,586

Program 172,427 160,012 160,793 165,026

Total Labor $ 2,948,314 3,218,787 3,108,002 3,243,090

Other Administration 318,713 384,839 425,474 446,421

Other (Interproject Fee for Services) 163,812 241,099 272,977 244,741

Employee Benefits 1,273,871 1,471,186 1,439,453 1,384,152

Management Fees 2,411,458 2,418,216 2,449,749 2,389,488

Total Admin & Program Delivery Exp. $ 7,116,168 7,734,127 7,695,655 7,707,892 Program Expenses:Resident Services $ 100,056 198,961 195,977 211,925

Utilities 7,314,721 7,670,823 7,047,390 7,498,586

Maintenance 663,499 749,073 888,458 802,005

Specialized Maintenance 4,630,381 4,130,289 4,210,817 4,399,074

Protective Services 541,559 551,364 625,264 820,305

Operating Subsidy Payment -

General Expense 318,018 373,041 393,677 444,582 Interest Expense

Principal Payment on Debt

Transfer to HUD

Transfers to Other Projects

Capital Expenditures 196,580 516,137 463,659 431,614 Total Program/Operating Expenses $ 20,880,982 21,923,815 21,520,897 22,315,983

Surplus (Deficit) From Operations $ 649,862 - - -


Provision For Reserves: Actual Reserves June 30, 2015 $ 4,941,203 - -

Projected Reserves June 30, 2016 $ 4,941,203 -

Projected Reserves June 30, 2017 $ 4,479,954


June 2016

Tab 3. Page 12

Community Revenue ExpendituresNet Surplus/

(Defict) **

Bobbitt Apartments $ 439,790 614,657 ($174,867)

Calvert Square 2,495,824 2,652,225 (156,401)

Diggs Town 3,726,459 3,663,139 63,320

FSS North Wellington 146,376 127,407 18,969

Grandy Village 532,144 683,221 (151,077)

Grandy Village V 39,780 119,623 (79,843)

Hunter Square Apartments 506,652 713,997 (207,345)

Moton Circle 0 6,020 (6,020)

Oakleaf Forest 1,767,361 2,166,879 (399,518)

Partrea Apartments 620,540 908,407 (287,867)

FSS Scattered Sites 86,676 133,277 (46,601)

Tidewater Gardens 4,811,024 4,742,954 68,070

Young Terrace 5,656,379 5,172,955 483,424

Sykes Apartments 475,729 611,222 (135,493)

Grand Total $ 21,304,734 22,315,983 (1,011,249)$

** Surplus cash is fungible between non-tax credit communities for front line expeditures.

Note: Federally Aided deficit will be funded with transfers from Capital Fund of $550,000

and Federally aided reserves of $461,249

Federally Aided HousingSummary By Community

NON - TAX CREDIT PROJECTS


June 2016

Tab 3. Page 13

FEDERALLY AIDED HOUSING COMMUNITIES

Transactions Type

Line Item DescriptionsBobbitt

ApartmentsCalvert Square

Diggs TownFSS -

scattered Sites

FSS -North Wellington

Grandy Village

Grandy Village V

Hunter Square

Moton Circle

Oakleaf Forest

Partrea Apts

Sykes Apartments

Tidewater Gardens

Young Terrace

Total Federally Aided Non Tax Total

Resources Total HUD PHA Grants 128,592 1,497,612 2,422,104 38,160 44,868 360,147 0 217,572 0 1,214,016 247,752 209,292 3,024,852 3,477,216 12,882,183

Net Tenant Rental Revenue 304,402 879,594 1,162,280 47,773 98,450 156,000 37,584 280,994 0 521,737 362,561 256,813 1,593,975 1,979,291 7,681,454

Tenant Revenue - Other 6,743 68,337 139,032 731 3,051 15,033 2,196 8,064 0 31,546 10,049 9,603 192,047 199,691 686,123

Other Revenue 32 50,206 2,940 8 0 951 0 0 0 0 150 0 0 54,287

Interest Income 21 75 103 4 7 13 0 22 0 62 28 21 150 181 687

Resources Total 439,790 2,495,824 3,726,459 86,676 146,376 532,144 39,780 506,652 0 1,767,361 620,540 475,729 4,811,024 5,656,379 21,304,734

Expenditure Labor 89,261 429,584 505,242 14,288 14,196 95,198 21,138 101,631 0 383,570 89,604 90,456 674,701 734,221 3,243,090

Employee Benefits 33,464 197,869 221,448 4,412 5,342 40,651 8,726 32,266 0 167,615 35,351 28,433 298,915 309,660 1,384,152

* Copiers 1,269 4,481 3,102 9 15 552 146 2,718 0 3,759 1,970 1,709 4,527 4,282 28,539

* PC Access 819 3,023 4,115 146 244 449 156 887 0 2,506 1,112 819 6,026 7,272 27,574

* 555 Main Street Building 2,007 9,309 13,278 84 141 1,463 484 2,174 0 8,100 2,724 2,007 18,863 22,328 82,962

* Vehicle Expense 0 2,454 4,120 0 0 469 132 0 0 2,527 0 0 5,285 5,809 20,796

* Telephone 8,396 9,490 9,754 0 0 5,647 472 7,396 0 8,332 7,346 7,346 10,437 10,254 84,870

** Management Fee 70,975 261,931 356,564 12,675 21,124 38,867 13,519 76,889 0 217,149 96,323 70,975 522,172 630,325 2,389,488

Other Administration (direct) 6,175 35,522 59,185 1,718 2,042 13,675 1,337 12,541 0 36,383 13,987 7,060 54,365 77,207 321,197

Resident Services 6,830 22,232 28,646 406 621 5,368 1,032 7,260 0 19,106 8,715 6,809 44,071 60,829 211,925

Utilities 108,900 847,401 1,469,736 325 2,162 305,657 35,471 145,483 0 475,685 176,150 136,250 1,767,039 2,028,327 7,498,586

Maintenance 50,921 104,882 113,958 15,149 5,248 17,008 6,958 57,702 0 79,745 75,280 44,001 114,868 116,285 802,005

Specialize Maintenance 122,653 539,590 645,315 54,307 61,088 98,760 17,933 156,716 0 594,885 262,735 106,621 894,641 843,830 4,399,074

Protective Services 70,908 63,327 106,333 0 0 12,098 3,403 70,908 0 65,217 70,908 70,908 136,389 149,906 820,305

* Liability Insurance 3,008 13,845 18,059 722 602 3,612 500 3,612 6,020 10,835 4,816 3,008 25,283 31,302 125,224

* Property Insurance 5,592 21,358 32,112 22,277 2,211 6,968 500 6,013 0 19,169 8,873 5,728 42,628 48,897 222,326

General Expense 20,841 20,927 12,422 4,959 10,271 12,015 7,716 15,989 0 23,796 20,263 13,292 30,544 29,221 222,256

Capital Improvements 12,638 65,000 59,750 1,800 2,100 24,764 0 13,812 0 48,500 32,250 15,800 92,200 63,000 431,614

Expenditure Total 614,657 2,652,225 3,663,139 133,277 127,407 683,221 119,623 713,997 6,020 2,166,879 908,407 611,222 4,742,954 5,172,955 22,315,983

Net Surplus/(Defict) (174,867) (156,401) 63,320 (46,601) 18,969 (151,077) (79,843) (207,345) (6,020) (399,518) (287,867) (135,493) 68,070 483,424 (1,011,249)

* Centrally administered charge back costs

** HUD Safe Harbor Rate, see fee rate schedule


June 2016

Tab 3. Page 14



June 2016

Tab 3. Page 15

Management Fee

Bookeeping Fee

Asset Management

Fee Total Fees

Public HousingRate Per Unit Month (PUM) $54.78 $7.50 $10.00PH Occupancy Assumption 97% 97% NA

Project NameProject Number

# of Units

Project Total

Tidewater Gardens South 002 618 394,061$ 53,951$ 74,160$ 522,172$ Diggs Town 006 422 269,084 36,841 50,640 356,564

Grandy Village Phase VI 008 46 29,331 4,016 5,520 38,867 Young Terrace 010 746 475,679 65,126 89,520 630,325 Calvert Square 011 310 197,668 27,063 37,200 261,931 Oakleaf Forest 012 257 163,873 22,436 30,840 217,149 Partrea Apartments 018 114 72,691 9,952 13,680 96,323 Hunter Square 019 91 58,025 7,944 10,920 76,889 Bobbitt Apartments 020 84 53,562 7,333 10,080 70,975 Sykes Apartments 021 84 53,562 7,333 10,080 70,975 Scattered Sites 022 25 15,941 2,183 3,000 21,123 Family-Self-sufficiency 024 15 9,565 1,310 1,800 12,674 Franklin Arms* 025 100 63,764 8,730 12,000 84,494 Grandy Village Revitalized * 084 275 175,351 24,008 33,000 232,358 Grandy Village V 092 16 10,202 1,397 1,920 13,519

PH Totals 3,203 2,042,358$ 279,622$ 384,360$ 2,706,340$ * Part of the Safe Harbor Fees are being paid from Privately Managed Earnings $117,653balance paid by LIPH Projects $2,706,340

Safe Harbor Fee Schedule Federally Aided- FY2017


June 2016

Tab 3. Page 16

FRANKLIN ARMS

OVERVIEW

This is a development with 100 units serving seniors, placed in service in 2003. It was developed as part of the Broad Creek HOPE VI program. It is a tax-credit financed development and may be expanded as part of the redevelopment strategy for the nearby Moton Circle.

PROGRAM INITIATIVES


Asset Management

Ongoing Maintenance

FUNDING METHODOLOGY


Tenant Rent for Public Housing is referred to as the Total Tenant Payment (TTP) and would be based on a family’s anticipated gross annual income less deductions, if any, HUD regulations allow PHAs to exclude from annual income the following allowances: $480 for each dependent; $400 for any elderly family and medical deductions for families headed by an elderly person or a person with disabilities.


June 2016

Tab 3. Page 17

FRANKLIN ARMS



FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ 236,380 240,038 233,096 234,821

Tenant Revenue - Other 5,968 4,938 4,888 5,206 HUD PHA Grants 359,429 356,779 364,915 368,976 Interest Income 601 586 574 626 Other Revenue (External Source) - - 25 118

Replacement Reserves - - 47,845 13,906

Total Revenue $ 602,378 602,341 651,343 623,653

Expenditures


Administration $ 58,923 61,046 65,632 71,716 Resident Services - - - Maintenance 63,385 38,770 39,036 41,118 Program - -

Total Labor $ 122,308 99,816 104,668 112,834 Other Administration 16,144 84,305 14,515 20,801 Other (Interproject Fee for Services) 7,654 8,000 11,758 9,640 Employee Benefits 62,284 47,107 45,434 42,631 Management Fees - - 16,500 33,000

Total Admin & Program Delivery Exp. $ 208,390 239,228 192,875 218,906

Program Expenses:Resident Services $ 2,770 5,124 5,301 5,624 Utilities 67,874 63,507 78,423 73,172 Maintenance 60,722 62,775 71,344 71,288 Specialized Maintenance 107,573 67,299 59,436 93,700 Protective Services - - 5,793 69,518 General Expense 55,210 32,079 51,902 59,965 Interest Expense 4,500 Capital Expenditures - 48,398 47,845 13,906 Total Program/Operating Expenses $ 502,539 518,410 512,919 610,579

Surplus (Deficit) From Operations $ 99,839 83,931 138,424 13,074


Provision For Reserves:Actual Operating Reservers June 30, 2015 $ 141,184 - - - Projected Operating Reserves June 30, 2016 $ 279,608 - Projected Operating Reserves June 30, 2017 $ 292,682


June 2016

Tab 3. Page 18

GRAND GRANDY VILLAGE REVITALIZATION

OVERVIEW

Grandy Village Revitalization is the first multifamily complex in Hampton Roads to transform a community into a sustainable mixed-income community financed with tax credits.

The 22 Energy Star duplexes were designed to Energy Star Standards and have received awards of merit from the National Association of Housing and Redevelopment Officials.

Criteria for families to move into Grandy Revitalization include:

Employed for past 6 months and working at least 29 hours per week unless elderly or disabled

Children must be attending and in good standing as defined by Norfolk Public Schools.

Any household member who is 16 years of age or older not attending school shall be employed at minimum 20 hours per week and involved in a job training or vocational program

PROGRAM INITIATIVES


Asset Management

Ongoing Maintenance

FUNDING METHODOLOGY


Tenant Rent for Public Housing is referred to as the Total Tenant Payment (TTP) and would be based on a family’s anticipated gross annual income less deductions, if any, HUD regulations allow PHAs to exclude from annual income the following allowances: $480 for each dependent; $400 for any elderly family and medical deductions for families headed by an elderly person or a person with disabilities.


June 2016

Tab 3. Page 19

GRANDY VILLAGE REVITALIZATION



FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ 1,017,515 991,402 1,049,884 1,040,692 Tenant Revenue - Other 76,801 77,724 59,600 67,329 HUD PHA Grants 1,099,631 1,074,606 1,090,360 1,094,052 Interest Income 903 857 1,750 1,683 Other Revenue (External Source) 80,380 80,168 82,853 74,219

Total Revenue $ 2,275,230 2,224,757 2,284,447 2,277,975

Expenditures


Administration $ 94,779 103,140 76,359 126,487 Resident Services 42,470 43,413 44,769 46,230 Maintenance 176,534 173,287 188,774 188,971 Program 8,734 - 15,203 19,473

Total Labor $ 322,517 319,840 325,105 381,161 Other Administration 44,160 125,245 54,736 37,127 Other (Interproject Fee for Services) 13,825 18,161 22,189 22,875 Employee Benefits 147,794 157,730 152,851 158,939 Management Fees 158,746 158,760 162,473 166,200


Program Expenses:Resident Services $ 7,594 18,940 19,742 41,780 Utilities 811,654 775,160 833,247 801,959 Maintenance 121,051 141,814 136,195 88,159 Specialized Maintenance 218,805 196,706 241,481 253,476 Protective Services 80,854 75,033 71,067 48,522 General Expense 145,513 113,690 164,823 175,268 Interest Expense 7,286 Capital Expenditures 54,894 79,381 43,921 53,930

Total Program/Operating Expenses $ 2,127,407 2,180,460 2,227,830 2,236,682



Provision For Reserves: Actual Reserves June 30, 2015 $ 103,060 - - - Projected Reserves June 30, 2016 $ 159,677 - Projected Reserves June 30, 2017 $ 200,970


June 2016

Tab 3. Page 20

HOUSING CHOICE VOUCHER PROGRAM (HCV)

OVERVIEW

The Housing Choice Voucher Program (HCV) provides rental assistance to assist very low-income families, the elderly, and the disabled to afford decent, safe, and sanitary housing in the private market. NRHA also receives special purpose vouchers for homeless veterans; Non-elderly disabled (NED); and Mainstream Vouchers which provide housing assistance payments to participating owners on behalf of eligible tenants. NRHA makes available Project Based Vouchers for newly constructed or rehabilitated property.

PROGRAM INITIATIVES

Provide affordable housing choices for extremely low, very low-income, and low households by providing rental assistance.

Increase housing opportunities in low poverty areas by providing project based vouchers for newly constructed or rehabilitated properties.

To assist program participants in becoming self-sufficient through participation in the Family Self Sufficiency Program.

Recruit landlords to provide accessible housing for disabled.

FUNDING METHODOLOGY

Total budget authorization is based on prior year calendar HAP expenses. HUD adjusts for inflation and proration factors. Administrative fees are paid on the basis of units leased as of the first day of each month; the data is extracted from the Voucher Management System on a quarterly cycle.


June 2016

Tab 3. Page 21

HOUSING CHOICE VOUCHER (HCV)



FY16 Projected

Actual


Revenue: Tenant Revenue - Other $ - - HUD PHA Grants 23,947,369 25,233,555 25,233,555 25,642,625 HUD PHA Grants (Administrative Fee) 1,815,558 1,699,716 1,937,506 1,930,993 Interest Income

Other Revenue (External Source) 53,062 6,127 6,421 7,925 Interproject Repayments

Earnings from other programs 607,224 620,307 298,903 33,792 Appropriations from other Program 653,588 Appropriation of HCV HAP Reserves - -

Total Revenue $ 26,423,213 27,559,705 27,476,385 28,268,923

Expenditures


Administration $ 1,030,605 965,135 1,016,563 1,099,345

Resident Services -

Maintenance - -

Program - -

Total Labor $ 1,030,605 965,135 1,016,563 1,099,345


Other (Interproject Fee for Services) 80,821 133,188 95,970 251,834

Employee Benefits 384,843 360,357 346,366 380,306

Management Fees 631,808 666,900 646,152 685,328

Total Admin & Program Delivery Exp. $ 2,253,698 2,326,150 2,242,830 2,626,298

Program Expenses:Resident Services $ - - - -

Utilities - - - -

Maintenance - - - -

Specialized Maintenance - - - - Housing Assistance Payments 24,169,515 25,233,555 25,233,555 25,642,625

NRHA Homebuyer Assistance - - - -

General Expense - - -


Equipment (Non-Expendable/Hardware) - - - -

Capital Expenditures - - - -

Total Program/Operating Expenses $ 26,423,213 27,559,705 27,476,385 28,268,923 Surplus (Deficit) From Operations $ - - - -



Projected Reserves (HAP) June 30, 2015 $ - - - -

Projected Reserves (ADM) June 30, 2015 - - - -

Projected Reserves (Tot) June 30, 2015 $ - - - -








June 2016

Tab 3. Page 22

HOUSING CHOICE VOUCHER PROGRAM SINGLE ROOM OCCUPANCY (SRO)

OVERVIEW

The Single Room Occupancy program is authorized by Section 441 of the McKinney-Vento Homeless Assistance Act. Under the Section 8 Moderate Rehabilitation Program, the Housing Authority assists homeless participants in obtaining housing in a single room occupancy facility.

PROGRAM INITIATIVES

To provide homeless single adults stable and affordable housing.

Provide case management, housing, and outreach services.

FUNDING METHODOLOGY

HUD enters into Annual Contributions Contracts with public housing agencies (PHAs) in connection with the moderate rehabilitation of residential properties that, when rehabilitation is completed, will contain multiple single room dwelling units. These PHAs make Section 8 rental assistance payments to participating owners (i.e. landlords) on behalf of homeless individuals who rent the rehabilitated dwellings. The rental assistance payments cover the difference between a portion of the tenant’s income (normally 30%) and the unit’s rent, which must be within the fair market rent (FMR) established by HUD. Rental assistance for SRO units is provided for a period of 10 years.


June 2016

Tab 3. Page 23

Single Room OccupancyHousing Choice Voucher Program



FY16 Projected

Actual


Revenue: HUD PHA Grants $ 304,560 300,000 300,000 305,280 HUD PHA Grants- Administrative Fee 49,968 50,569 51,168 51,170 Interest Income - - Other Revenue (External Source) - - Earnings from other programs 19,082 27,502 29,978 28,338 Appropriation of Reserves - -

Total Revenue $ 373,610 378,071 381,146 384,788

Expenditures


Administration $ 42,347 50,424 51,106 52,501 Resident Services - - - - Maintenance - - - - Program - - - -

Total Labor $ 42,347 50,424 51,106 52,501 Other Administration 871 181 2,130 195 Other (Interproject Fee for Services) 854 - 1,937 - Employee Benefits 10,939 13,426 12,791 12,772 Management Fee 14,040 14,040 13,182 14,040


Program Expenses:Resident Services $ - - - Utilities - - - Maintenance - - - Specialized Maintenance - - -

Protective Services - - - Housing Assistance Payments 289,396 300,000 300,000 305,280 NRHA Homebuyer Assistance - - - General Expense - - - Other - - - Capital Expenditures - - -

Total Program/Operating Expenses $ 358,447 378,071 381,146 384,788 Surplus(Deficit) From Operations $ 15,163 - - -



Projected Reserves (HAP) June 30, 2015 $ - - - - Projected Reserves (ADM) June 30, 2015 $ - - - - Projected Reserves (HAP) June 30, 2016 $ - - - - Projected Reserves (ADM) June 30, 2016 $ - - - - Projected Reserves (HAP) June 30, 2017 $ - - - - Projected Reserves (ADM) June 30, 2017 $ - - - -


June 2016

Tab 3. Page 24



June 2016

Tab 3. Page 25

Projected # of Vouchers

Management Fee

Bookeeping Fee

Asset Management

Fee Total Fees

Section 8Fee Rate (PUM) $12.00 $7.50 NA $699,368

Month Projected

Leased UnitsMgmt Fee

Bookeeping Fee

Asset Mgmt Fee

Total

$12.00 $7.50 NA

July 2,855 34,260$ 21,413$ NA 55,673$ Aug 2,870 34,440 21,525 NA 55,965 Sept 2,885 34,620 21,638 NA 56,258 Oct 2,900 34,800 21,750 NA 56,550 Nov 2,915 34,980 21,863 NA 56,843 Dec 2,930 35,160 21,975 NA 57,135 Jan 2,940 35,280 22,050 NA 57,330 Feb 2,950 35,400 22,125 NA 57,525 Mar 2,960 35,520 22,200 NA 57,720 Apr 2,970 35,640 22,275 NA 57,915 May 2,980 35,760 22,350 NA 58,110 June 2,990 35,880 22,425 NA 58,305

421,740$ 263,588$ 685,328$

Single Room OccupancyFee Rate (PUM) $12.00 $7.50 NASRO Program Total 60 $8,640 $5,400 NA $14,040

Safe Harbor Fee Schedule Housing Choice Voucher- FY2017


June 2016

Tab 3. Page 26

HOUSING OPPORTUNITY PROGRAM

OVERVIEW

Homeownership Opportunity Program provides down payment and gap financing assistance for qualified low-income buyers, as well as homeownership training to support self-sufficiency goals.

PROGRAM INITIATIVES

Annual recruitment of applicants for Homeownership through HomeNet

Increase the number of training programs for home buyers

FUNDING METHODOLOGY

As the Turnkey III program came to a close, Norfolk Redevelopment and Housing Authority received HUD approval to retain the sales proceeds for continued homeownership opportunities, as well as for certain physical improvements and training efforts.

HUD has forgiven the related debt on the homes and these funds are commonly referred to as Debt Forgiveness monies.


June 2016

Tab 3. Page 27

HOUSING OPPORTUNITY PROGRAM



FY16 Projected

Actual


Revenue: Interest Income $ - - - Proceeds from Property Sales - - - - Other Fees for Service (External Source) - - - - Other Revenue (External Source) - - Interproject Repayments - - - - Appropriations from other Program - - - - Appropriation of Housing Opp. Reserves 156,164 182,833 86,147 43,545

Total Revenue $ 156,164 182,833 86,147 43,545

Expenditures


Administration $ 56,674 58,666 12,668 -

Resident Services - - - -

Maintenance - - - -

Program - - - -

Total Labor $ 56,674 58,666 12,668 -

Other Administration - - -

Other (Interproject Fee for Services) - - - -

Employee Benefits 19,499 21,498 4,131 -

Management Fees - - - -

Total Admin & Program Delivery Exp. $ 76,173 80,164 16,799 -

Program Expenses:

Resident Services $ 50,491 59,124 25,803 -

Housing Assistance Payments - - - -


General Expense - - - -


Homebuyers Assistance Program - - - -


Transfers to Other Projects 29,500 43,545 43,545 43,545


Total Program/Operating Expenses $ 156,164 182,833 86,147 43,545

Surplus (Deficit) From Operations $ - - - -

Depreciation (Not Included in Totals) $ - - - -

Provision For Reserves: Actual Reserves June 30, 2015 $ 1,121,164 - - -


Projected Reserves June 30, 2017 $ - 991,472


June 2016

Tab 3. Page 28

JOB ACCESS AND REVERSE COMMUTE (JARC)

OVERVIEW

The Job Access and Reverse Commute (JARC) - program was established to address the unique transportation challenges faced by welfare recipients and low-income persons seeking to obtain and maintain employment. Funded by the Federal Transit Administration FY2006 apportionments for Section 5316 (Job Access and Reverse Commute/JARC) and Section 5317 (New Freedom) for the Virginia Beach Urbanized Area. The funds pay for 50% of the operational cost of the Workforce Development Transportation Program and 80% of the capital cost of the program.

PROGRAM INITIATIVES

Increase ridership as a direct parallel to residents securing employment.

Improve access to community resources and services.

Provide resources to

residents that eliminate barriers to employment.

FUNDING METHODOLOGY

Competitive Grant Application Process.


June 2016

Tab 3. Page 29

JOB ACCESS REVERSE COMMUTE PROGRAM

Ta Approved

Cumulative Budget

Cumulative FY15 Actual

FY 16 Projected

Cumulative Actual

FY 17 Approved Annual Budget

Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - -

HUD PHA Grants 1,038,381 606,493 761,525 109,323 Privately Managed Reserves - - -

Total Revenue $ 1,038,381 606,493 761,525 109,323

Expenditures


Administration $ - Resident Services 599,015 346,398 479,666 42,016 Maintenance - - - - Program - - - -

Total Labor $ 599,015 346,398 479,666 42,016 Other Administration 37,236 10,255 12,742 5,500 Other (Interproject Fee for Services) - Employee Benefits 167,906 106,361 144,622 7,557 Management Fees (Interproject) - - - -


Program Expenses:Resident Services $ 178,745 88,000 124,495 54,250 Utilities - - - - Maintenance - - - - Specialized Maintenance - - - - Protective Services - - - - Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - - - - Interproject Repayments or Advances - - - - Other - - - - Capital Expenditures 55,479 55,479 - -

Total Program/Operating Expenses $ 1,038,381 606,493 761,525 109,323 Surplus (Deficit) From Operations $ - - - -

Provision For Reserves: Projected Reserves June 30, 2015 $ - - - - Projected Reserves June 30, 2016 $ - - - - Projected Reserves June 30, 2017 $


June 2016

Tab 3. Page 30

JOBS PLUS PILOT PROGRAM

OVERVIEW

The purpose of this program is to specifically help Young Terrace low-income residents find higher paying jobs. This program supports work readiness and connects Young Terrace public housing residents with employment, education and financial empowerment services.

PROGRAM INITIATIVES

Employment-Related Services

Financial Incentives -Jobs Plus Earned Income Disregard (JPEID)

Community Supports for Work

FUNDING METHODOLOGY

Competitive grant process awarded in December 2016. Funds will facilitate service provisions through September 2019.


June 2016

Tab 3. Page 31

JOBS PLUS PILOT PROGRAM

Ta Approved

Cumulative Budget

Annual FY16 Budget

FY 16 Projected

Cumulative Actual



HUD PHA Grants 2,700,000 800,000 - 691,300 Privately Managed Reserves - - - -

Total Revenue $ 2,700,000 800,000 - 691,300

Expenditures


Administration $ - - - - Resident Services 849,118 - 221,069 Maintenance - - - - Program - - - -

Total Labor $ 849,118 - - 221,069 Other Administration 51,254 - - 12,814 Other (Interproject Fee for Services) 15,220 - - 8,125 Employee Benefits 272,976 - - 71,435 Management Fees (Interproject) - - - -

Total Admin & Program Delivery Exp. $ 1,188,568 - - 313,443

Program Expenses:Resident Services $ 1,511,432 800,000 - 377,857 Utilities - - - - Maintenance - - - - Specialized Maintenance - - - - Protective Services - - - - Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - - - - Interproject Repayments or Advances - - - - Other - - - - Capital Expenditures - - - -

Total Program/Operating Expenses $ 2,700,000 800,000 - 691,300 Surplus (Deficit) From Operations $ - - - -

Provision For Reserves: Projected Reserves June 30, 2015 $ - - - - Projected Reserves June 30, 2016 $ - - - - Projected Reserves June 30, 2017 $ - - - -


June 2016

Tab 3. Page 32

NEW FREEDOM (DPRT)

OVERVIEW

Continue and expand the New Freedom Transportation Program to enhance access of older and disabled (as defined by ADA 1990) residents to services that improve their quality of life. The program is administered by the Virginia Department of Rails and Public Transportation. This grant requires a 10% match of local dollars.

PROGRAM INITIATIVES

Provide transportation services for disabled residents seeking employment.

Engage disabled residents in training and employment activities.

FUNDING METHODOLOGY

Funding provided through a competitive grant process. Services are offered primarily to residents who are perceived (through self-reporting) as having a disability.


June 2016

Tab 3. Page 33

NEW FREEDOM (DPRT)

Ta Approved

Cumulative Budget

Cumulative FY15 Actual

FY 16 Projected

Cumulative Actual



HUD PHA Grants - - - 334,254 Privately Managed Reserves - - - -

Total Revenue $ - - - 334,254

Expenditures


Administration $ - Resident Services - - - 228,927 Maintenance - - - - Program - - - -

Total Labor $ - - - 228,927 Other Administration - - - - Other (Interproject Fee for Services) - - - - Employee Benefits - - - 47,835 Management Fees (Interproject) - - - -

Total Admin & Program Delivery Exp. $ - - - 276,762

Program Expenses:Resident Services $ - - - 57,492 Utilities - - - - Maintenance - - - Specialized Maintenance - - - - Protective Services - - - - Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - - - - Interproject Repayments or Advances - - - - Other - - - - Capital Expenditures - - - -

Total Program/Operating Expenses $ - - - 334,254 Surplus (Deficit) From Operations $ - - - -



June 2016

Tab 3. Page 34

PUBLIC HOUSING-HCV FAMILY SELF-SUFFICIENCY ROSS GRANT(FSS)

OVERVIEW

The purpose of HUD’s Public and Indian Housing Family Self-Sufficiency Program is to promote the development of local strategies to coordinate the use of assistance under the Public Housing and HCV program with public and private resources to enable participating families to increase earned income, reduce or eliminate the need for welfare assistance and make progress toward achieving economic independence and housing self-sufficiency.

PROGRAM INITIATIVES

Increase household income Increase residents

participating in escrow accounts

Increase the number of residents who are in the program

FUNDING METHODOLOGY

Funding is authorized by the Consolidated Appropriations Act, 2014, (enacted January 17, 2014) funding streams for the HCV FSS and the PH FSS program are combined. 24 CFR 984. The purpose of this part is to implement the policies and procedures applicable to operation of a local FSS program, as established under section 23 of the 1937 Act (42 U.S.C. 1437u), under HUD's rental voucher, rental certificate, and public housing programs.


June 2016

Tab 3. Page 35

PUBLIC HOUSING-HCVFAMILY SELF SUFFICIENCY ROSS GRANT (FSS)

FY15 Actual FY16

Approved Budget

FY16 Projected

Actual


Revenue: Tenant Revenue - Other $ - - - - HUD PHA Grants - 328,757 328,757 345,450 Other Government Grants - - - - Interest Income - - - - Appropriations from other Program - - - - Appropriation of Reserves - - - -

Total Revenue $ - 328,757 328,757 345,450

Expenditures


Administration $ - - - - Resident Services 245,476 245,476 261,292 Maintenance - - Program - - -

Total Labor $ - 245,476 245,476 261,292 Other Administration - - - - Other (Interproject Fee for Services) - - - Employee Benefits - 83,281 83,281 84,158 Management Fees - - - -

Total Admin & Program Delivery Exp. $ - 328,757 328,757 345,450

Program Expenses:Resident Services $ - - - - Utilities - - - - Maintenance - - - - Specialized Maintenance - - - - Protective Services - - - - General Expense - - - - Equipment (Non Expendable/Hardware) - - - - Capital Expenditures - - - -

Total Program/Operating Expenses $ - 328,757 328,757 345,450 Surplus (Deficit) From Operations $ - - - -




June 2016

Tab 3. Page 36

RESIDENT OPPORTUNITIES AND SELF-SUFFICIENCY (ROSS) COORDINATOR

OVERVIEW

The purpose of this program is to “…provide funding to hire and maintain Service Coordinators who will assess the needs of the residents of conventional Public Housing or Indian Housing and coordinate available resources in the community to meet those needs.” These services should enable participating families to increase earned income, reduce or eliminate the need for welfare assistance, make progress toward achieving economic independence and housing self-sufficiency or, in the case of elderly or disabled residents, help improve living conditions and enable residents to gracefully age-in-place. Funding made available under the Department of HUD Appropriations Act 2010, approved Dec. 16, 2009.

PROGRAM INITIATIVES

Improve resident access to career opportunities to increase earned income

Make progress towards achieving economic independence and housing self-sufficiency

Improve the living conditions of the elderly and disable residents, allowing them to age-in-place

FUNDING METHODOLOGY

Awards will pay only for the annual salary and fringe benefits of Service Coordinators not to exceed $68,000 salary & fringe, $2,000 training and travel and $10,000 administrative costs (annually). The ROSS SC grant is a 3-year grant that supports the coordination of supportive services designed to help public housing families attain economic and housing self-sufficiency. There is a minimum 25% match requirement for this grant.


June 2016

Tab 3. Page 37

ROSS COORDINATOR GRANT

Approved Cumulative

Budget Cumulative Actual FY15

Projected Cumulative FY16 Actual


Revenue: Tenant Revenue - Other $ - - - - HUD PHA Grants 738,000 288,734 487,364 250,636 Other Government Grants - - - - Interest Income - - - - Appropriations from other Program - - - - Appropriation of Reserves - - - -

Total Revenue $ 738,000 288,734 487,364 250,636

Expenditures


Administration $ - - - - Resident Services 462,000 220,454 311,872 150,128 Maintenance - - - - Program - - - -

Total Labor $ 462,000 220,454 311,872 150,128 Other Administration 90,000 8,863 48,175 41,825 Other (Interproject Fee for Services) - - - Employee Benefits 168,000 59,417 113,817 54,183 Management Fees - - - -


Program Expenses:Resident Services $ 18,000 - 13,500 4,500 Utilities - - - Maintenance - - - - Specialized Maintenance - - - - Protective Services - - - - General Expense - - - - Equipment (Non Expendable/Hardware) - - - - Capital Expenditures - - - - Total Program/Operating Expenses $ 738,000 288,734 487,364 250,636

Surplus (Deficit) From Operations $ - - - -




June 2016

Tab 3. Page 38

LIPH Capital FundJob Access & New Freedom JOB PLUS

ROSS PH -HCV Family Self Sufficiency

ROSS Coordinator Total

Resident Services $

Salaries 116,012$ 128,797$ 270,943$ 181,249$ 247,162$ 150,128$ 1,094,291$

Fringe Benefits 34,486 40,036 55,392 61,748 79,492 54,183 325,337

Other Administration 4,820 - 2,500 140,064 - 46,325 193,709

Program - - - 258,732 - 0 258,732

Total Resident Services 155,318$ 168,833$ 328,835$ 641,793$ 326,654$ 250,636$ 1,872,069$

Safety and Security

Salaries - - 184,499 184,499

Fringe Benefits - - 75,495 75,495

Other Administration - - 92,575 92,575

Program - - 600,000 600,000

Total Safety and Secur -$ -$ 952,569$ -$ -$ -$ 952,569$

Total Resident Services, Safety and Security

Salaries 116,012 128,797 455,442 181,249 247,162 150,128 1,278,790

Fringe Benefits 34,486 40,036 130,887 61,748 79,492 54,183 400,832

Other Administration 4,820 - 95,075 140,064 - 46,325 286,284Program - - 600,000 258,732 - - 858,732

Total $ 155,318$ 168,833$ 1,281,404$ 641,793$ 326,654$ 250,636$ 2,824,638$

Activity/Program

CONSOLIDATED BUDGET FOR RESIDENT SERVICES/SAFETY AND SECURITY

Fiscal Year 2017


June 2016

Tab 3. Page 39



June 2016

Tab 3. Page 40


June 2016

Tab 3. Page 41

DEVELOPMENT PROGRAMSBUDGET SUMMARY




Development Division Overview Summary (FY2017)

Revenue for the Development Division total $41,028,764 and is derived from a blend of various funding sources. There is a $388,842 operational shortfall pro-jected in FY2017. Operational shortfalls are projected in Administration and Pro-gram Delivery for Low Mod Housing Planning Initiative ($130K); Public Housing Transformation initiatives ($188K) and other renewal service activities throughout the City of Norfolk’s conservation neighborhoods ($79K). These shortfalls are rec‐ommendedtobecoveredfromearnings,programreservesandprivatelymanagedre‐serves.

Expenditures for the Division will focus on 5th-7th Bay Development in Ocean View (32 single family homes), John T. West development (14 single family homes), renovation of Merrimack Landing apartments and managing the redevel-opment component of assisted-rental properties selected for HUD Rental Assis-tance Demonstration (RAD) program. Development will continue programs that move first-time homebuyers to closing and acquisition of blighted properties based on negotiations with willing sellers.

Organizational changes that occurred in FY2016 are reflected in the Division’s funding for FY2017; Capital Fund which is a tool to improve aging housing stock and infrastructure of the public housing properties transferred to the Develop-ment Division as a newly created Design and Construction Management Depart-ment. $9.4M has been budgeted to support public housing transformation (RAD) as well as continuing to replace roofing, heating systems, windows, doors and oth-er items in the federally assisted public housing communities.

The Privately managed properties also transferred to the Development Division (Merrimack Landing, Oakmont North and Park Terrace). The privately-managed communities are managed by third party entities with NRHA oversight. Property management fees and operating expenses are covered through tenant rents. These properties produce net operating revenue annually that can be used for other NRHA programs. We anticipate using $1.9M in earnings to fund shortfalls of other Authority programs.

There is a continued effort to expend the balance of funds remaining in the pro-gram and to develop a CDBG sub-recipient closeout agreement with the City.

SUMMARY

FY

2017

D

EV

ELO

PM

EN

T O

VE

RV

IEW


June 2016

Tab 4. Page 1

CHALLENGES

The Development Division continues to feel the impact on the CDBG Rehabilitation Program that was transitioned to the City in FY2016. Prior year balances for admin-istration and program Delivery are now depleted.

Revenue sources are becoming more and more varied, requiring careful documenta-tion and monitoring of work hours to ensure that funding programs are charged ap-propriately and effectively to meet targeted goals.

Since the elimination of eminent domain as a tool in the removal of areas of blight, the assembly of large parcels of land for redevelopment has diminished as a domi-nant strategy for the Authority. Redevelopment initiatives are now required to be fo-cused on areas where there is a high degree of property controlled by City of Norfolk, NRHA or other public institutions, as well as the possible purchase of existing in-come producing multi-family housing to provide operating funds that the City once provided.


June 2016

Tab 4. Page 2

Prepare and submit financing plans to support improvements for the Diggs Town and Young Terrace communities.

Various redevelopment initiatives including new infill single family homes throughout NRHA’s redevelopment and conservation areas; as well as City of Norfolk neighborhood plan areas.

Oversee infrastructure and new home

construction for the Chesapeake Street initiative.

Implement infrastructure improvements and

enter into disposition agreements to build 32 new homes on 5th to 7th Bay Streets in Ocean View.

Homeownership assistance through first-time

homebuyer subsidy and homebuyer credit repair, education and counseling.

Providing a broader range of quality housing choices the revitalization of Norfolk’s public housing communities through the HUD Rental Assistance Demonstration (RAD) program. This will involve collaboration with new and existing partners.

Complete new assisted apartments in Broad

Creek, new apartment development and master planning in Grandy Village as well as repositioning of Merrimack Landing and Park Terrace apartments.

MAJOR GOALS

2016 Accompl ishments Acquisitions – 13 properties for $2,338,000 Dispositions – 12 with an additional 39

closings in East Beach. Design and Construction – Completed

inspection of 30 new infill homes. Construction started on The Banks at

Berkley mixed-use project (50 units). Construction started on 18 new apartments

on 2nd Bay Street in Ocean View. Construction completed of Monticello

Avenue improvements (2300-2600 blocks) Renovations began on the Merrimack

Landing Apartments (492 units). Completed land disposition agreement for

the development of 38 townhomes on Chesapeake Street.

Construction started on the 2800 Church Street development (10 townhouse units)

Oversight of East Beach Phase VII development (mixed-use).

Completed site planning and construction documents to support the 5th to 7th Bay St. development (32 single family homes).

Closed loans/grants to assist in the renovation of 37 homes ($525,337); and assisted 20 households through the Home Repair Program ($201,967).

Assisted nine households via the Aesthetic Improvement & Significant Structure Programs ($49,720).

Provided assistance to 33 first-time homebuyers ($1,427,710), leveraging $3,690,887 in private funding.


June 2016

Tab 4. Page 3



June 2016

Tab 4. Page 4

DEVELOPMENT PROGRAMS Approved Revenue and Expenditures

Approved Revenue Fiscal Year 2017 %

Proceeds from Notes Loans and Bonds 12,041,667$ 29.35%Capital Grant Program - HUD PHA Grants 9,218,638 22.47%Capital Improvement Neighborhood Program 5,750,000 14.01%Operating Receipts - Oakmont North 3,879,353 9.46%Operating Receipts - Merrimack Landing 3,614,796 8.81%

City of Norfolk General Fund 3,122,751 7.61%

Merrimack Landing Replacement Reserves 2,500,000 6.09%

HOME Program 729,018 1.78%

Developer Fees 450,000 1.10%

Park Terrace - HUD PHA Grants 316,357 0.77%

Privately Managed Reserves 285,728 0.70%Operating Receipts - Park Terrace 238,656 0.58%Bond Fees 192,500 0.47%Working Fund Reserves 140,000 0.34%

Mariott Rent 114,500 0.28%East Beach Land Sale Proceeds 80,000 0.19%Park Terrace - Program Reserves 54,567 0.13%Capital Fund Admin Reserve 53,154 0.13%Empowerment 2010 51,839 0.13%CDBG (HomeNet) 65,882 0.16%VHDA (HomeNet) 25,000 0.06%HomeNet Other Fees 25,000 0.06%Rehabilitation Reserve Account 7,000 0.02%Earnings Transferred to other Programs from Merrimack and Oakmont Operating Receipts (1,927,642) -4.70%Total Revenue 41,028,764$ 100.00%

Approved Expenditures Amount %

Merrimack Landing Development 12,500,000$ 30.47%Capital Fund Program 8,581,046 20.91%Renewal Service Activity 5,150,000 12.55%General Fund Program (See next page) 2,126,546 5.18%Oakmont North Property Management 3,033,925 7.39%Merrimack Landing Property Management 2,505,211 6.11%5th-7th Bay Development 2,000,000 4.87%Park Terrace Property Management 609,580 1.49%City Wide Homebuyer Assistance - NRHA 637,411 1.55%Disposition Program 29,250 0.07%John T. West School Site Development 140,000 0.34%HomeNet 115,882 0.28%East Beach Initiatives 35,000 0.09%Local Rehabilitation Initiatives 7,000 0.02%Program Management 1,655,464 4.03%Administrative Support 1,902,449 4.64%Total Expenditures 41,028,764$ 100.00%


June 2016

Tab 4. Page 5

CITY OF NORFOLK EXPENDITURE DETAIL SUPPLEMENT

Fund/Projects Fiscal Year 2017

General Fund

Economic Grants 1,718,593$

Disposition Program 291,795

Monroe Building Rent 104,158

Wooden Boat Rent 12,000

Total General Fund 2,126,546$

Home Investment Partnership Program

City Wide Homebuyer Assistance 500,000$

CHDO Set-Aside 137,411

Total HOME Program 637,411$


June 2016

Tab 4. Page 6



June 2016

Tab 4. Page 7

DEVELOPMENT DIVISIONProgram Support and Administration

FY16 Approved FY17 Approved Variance

Approved Expenditures:

Labor 1,495,451$ 1,627,024$ 131,573$

Fringe Benefits 545,208 548,626 3,418

Management Fee COCC 889,109 950,871 61,762

Management Fee Development COCC 300,140 155,756 (144,384)

Management Fee Capital Fund COCC 138,549 138,549 -

Other Direct Administration 103,445 137,087 33,642

Total Program Support and Administration 3,471,902$ 3,557,913$ 86,011$

Approved Sources of Revenue:

General Fund 1,000,000$ 996,205$ (3,795)$

Capital Fund Admin 532,209 637,592 105,383

Neighborhood Capital Improvement Program 600,000 600,000 -

Developer Fees - 450,000 450,000

Local Development Fund 281,500 307,000 25,500

Privately Managed Reserves 60,247 256,478 196,231

HOME Program 164,779 91,607 (73,172)

Capital Fund Admin Reserve - 53,154 53,154

Other Development Reserves 187,848 51,839 (136,009)

East Beach Initiatives 45,000 45,000 -

5th-7th Bay - 41,667 41,667

Privately Managed Earnings 75,353 27,371 (47,982)

Rehabilitation Reserve Account 263,966 - (263,966)

Community Development Block Grant 261,000 - (261,000)

Total Approved Revenue Sources 3,471,902$ 3,557,913$ 86,011$


June 2016

Tab 4. Page 8

CAPITAL FUND (PUBLIC HOUSING)

OVERVIEW

Capital Fund Program’s primary objective is to make assistance available to public housing agencies (PHAs) to carry out capital and management improvement activities. Capital Fund can also be used for demolition, resident relocation, resident economic development, security equipment, and financing costs.

PROGRAM INITIATIVES

Target REAC deficiencies to maintain High Performer designation

Satisfy all obligation and expenditure requirements for the Capital Fund grant

Continue planning and design of additional public housing units utilizing Replacement Housing Factor funds and Demolition and Disposition Transition funds

FUNDING METHODOLOGY

The Capital Fund is available by formula distribution. Old guidelines allowed up to 20% of CFP for management improvements. Final rule will reduce down to 10% at 2% a year until 2018.


June 2016

Tab 4. Page 9

CAPITAL FUND PROGRAM (PUBLIC HOUSING)



FY16 Projected

Actual


Revenue: HUD PHA Grants $ 6,123,644 9,632,155 8,755,877 9,131,046 Other Government Grants - - - Interest Income - - - Other Fees for Service (External Source) - - Other Revenue (External Source) - - - Administrative Fee (Interproject) 615,040 670,758 619,572 637,592 Appropriations from other Program 134,765 Appropriation of (Admin project) Reserves - 53,154

Total Revenue $ 6,738,684 10,302,913 9,375,449 9,956,557

Expenditures


Administration $ 589,044 693,029 683,714 910,805 Resident ServicesMaintenance - Program

Total Labor $ 589,044 693,029 683,714 910,805 Other Administration 11,431 38,272 17,730 46,049 Other (Interproject Fee for Services) 41,096 49,689 50,023 65,068 Employee Benefits 232,531 283,428 270,400 337,835 Management Fees 138,549 138,549 138,549 138,549


Program Expenses:Resident Services $ - - - - Utilities - - - - Maintenance - - - - Specialized Maintenance - - - - Protective Services - - - - Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - 642,563 550,000 550,000 Interproject Repayments or Advances - - - - Other - - - - Capital Expenditures 5,683,916 8,457,383 7,653,996 7,908,251

Total Program/Operating Expenses $ 6,696,567 10,302,913 9,364,412 9,956,557

Surplus (Deficit) From Operations $ 42,117 - 11,037 -


Provision For Reserves: Actual Admin Reserves June 30, 2015 $ 42,117 - - - Projected Admin Reserves June 30, 2016 $ - - 53,154 - Projected Admin Reserves June 30, 2017 $


June 2016

Tab 4. Page 10



June 2016

Tab 4. Page 11

NEW CONTRACT WORKJob Description Neighborhood Start Date Estimated Cost

1 Conversion of Gas to Electric 3 Tidewater Spring 2016 193,000$ 2 Conversion of Gas to Electric 3 Young Spring 2016 190,000 3 Porch Repairs Diggs Summer 2016 450,000 4 RAD Conversion Diggs FY 2017 753,890 5 Phase VI Sitework Grandy FY 2017 2,822,999 6 RAD Conversion Young FY 2017 852,000 7 RAD Conversion Preparation Calvert FY 2017 169,000 8 RAD Conversion Preparation Oakleaf FY 2017 170,200 9 Refrigerators Oakleaf Summer 2016 116,490 9 Exterior Renovations Partrea Summer 2016 750,000

10 Professional Fees & Inspections Various FY 2017 1,346,175 SUBTOTAL 7,813,754$

MANAGEMENT IMPROVEMENTS1 Security Camera Upgrades Midrises Summer 2016 90,247 2 Security All Annually 4,250

SUBTOTAL 94,497$

Total Capital Expenditures 7,908,251$

OPERATIONS1 Transfer to Operations All Annually 550,000$

Administration 1,498,306$

Grand Total 9,956,557$

CAPITAL FUND PROGRAMPLANNED CONTRACT; DESIGN WORK AND ADMINISTRATION FOR NRHA FY 2017

(using multiple grant years)


June 2016

Tab 4. Page 12

CAPITAL IMPROVEMENT PROGRAM

OVERVIEW

The Capital Improvement Program (CIP) is a multi-year plan for capital expenditures to replace and expand the City’s infrastructure. The City uses the CIP to develop infrastructure and provides support for redevelopment and conservation activities. This funding allows for a mixed-income, market rate approach that is considered essential in building sustainable healthy neighborhoods.

PROGRAM INITIATIVES

Design public infrastructure to support the development of new housing in Broad Creek, St. Paul’s, and 5th -7th Bay in East Ocean View.

Acquire and clear blighted properties in Central Brambleton, Spartan Village, Park Place, Wards Corner and Ocean View/Willoughby to support redevelopment initiatives.

Support community visioning and engagement in Park Place, Lamberts Point and Huntersville.

FUNDING METHODOLOGY

NRHA applies for funding through the City’s Funding Application Process.


June 2016

Tab 4. Page 13

CAPITAL IMPROVEMENT PROGRAM



FY16 Projected

Actual


Revenues Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Other Government Grants 5,858,585 2,553,313 3,963,281 5,750,000 Interest Income - - - - Proceeds from Notes, Loans and Bonds - - - - Proceeds from Property Sales - - - - Other Fees for Service (External Source) - - - - Other Revenue (External Source) - - - - Management Fees (Interproject) - - - - Interproject Repayments - - - - Appropriations from other Programs - - - - Appropriation of CIP Reserves - - - -

Total Revenue $ 5,858,585 2,553,313 3,963,281 5,750,000 ExpendituresAdministrative and Program Delivery:Labor: - - - -

Administration $ 246,656 286,370 306,712 270,366


Maintenance - - - -

Program - - - -

Total Labor $ 246,656 286,370 306,712 270,366

Other Administration 15,154 - 3,938 9,000


Management Fee 293,285 263,261 419,073 228,158

Total Admin & Program Delivery Exp. $ 641,638 653,313 844,272 600,000 Program Expenses:Acquisition $ 4,484,070 1,320,000 2,342,757 - Relocation - - - - Demolition 94,717 70,000 36,668 - Site Improvements - - 141,850 -

Disposition 328,590 350,000 369,599 - Construction - - - - Rehabilitation 288,654 160,000 228,135 -

Principal Payment on Debt - - - - Planning 20,915 - - - Other - - - 5,150,000

Total Program/Operating Expenses $ 5,858,585 2,553,313 3,963,281 5,750,000 Surplus(Deficit) From Operations $

Depreciation (Not Included in Totals) - - - -


Projected Reserves June 30, 2015 $ - - - -


Projected Reserves June 30, 2017 $


June 2016

Tab 4. Page 14

EAST BEACH

OVERVIEW

East Beach is a public-private partnership of NRHA, the City of Norfolk and East Beach Company, LLC turning nearly 100 acres of once-blighted property in Ocean View into a waterfront village of nearly 700 residences, offices, retails space, walking paths, parks

and a beach pavilion.

PROGRAM INITIATIVES

Support continued development of Phase VII of East Beach in the East Ocean View Redevelopment project area, including disposition contract oversight, design review, and financial administration.

FUNDING METHODOLOGY

Proceeds from land sales, based on an agreement between NRHA and the Developer.


June 2016

Tab 4. Page 15

EAST BEACH INITIATIVESFEDERALLY AIDED HOUSING

FY15 Actual FY16

Approved Budget

FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - Proceeds from Notes, Loans and Bonds - - - - Proceeds from Property Sales 205,697 569,675 213,275 620,900 Operating Transfer (Interproject) - - - - Other Revenue (External Source) - - - - Appropriation of East Beach Reserves - - - -

Total Revenue $ 205,697 569,675 213,275 620,900

Expenditures


Administration $ 9,753 19,725 12,800 20,586


Maintenance - - - -

Program - - - -

Total Labor $ 9,753 19,725 12,800 20,586

Other Administration - - - -


Management Fee 7,966 18,133 11,243 17,372


Program Expenses:Acquisition $ 201,739 - - -

Demolition - - - -

Planning - - - -

Disposition 10,150 35,000 6,140 35,000 Rehabilitation - - - -



Bond Fees - - - -

Land Sale Proceeds to the City of Norfolk - 300,000 300,000 300,000 Principal Payment on Debt - - - -

Operating Transfer Out - - - -


Total Program/Operating Expenses $ 233,765 380,000 335,080 380,000 Surplus (Deficit) From Operations $ (28,068) 189,675 (121,805) 240,900


Provision For Reserves:Projected Reserves June 30, 2015 $ 126,298 - - -

Projected Reserves June 30, 2016 $ - - 4,493



June 2016

Tab 4. Page 16

5th to 7th BAY DEVELOPMENT

OVERVIEW

• Original Master Plan dates back to the early 2000’s

• Discussions with community and city leadership resulted in dividing the project. The western side of 5th Bay became a park and the eastern side of 5th Bay – 7th Bay would be developed as residential.

• NRHA utilized the services of an engineering firm to produce a set of bid-ready construction documents detailing the infrastructure needed to support 30-34 new single-family homes

PROGRAM INITIATIVES

• Complete site plan. • Complete development budget, obtain BOC approval, obtain project financing and begin infrastructure construction. • Dispose of lots.

FUNDING METHODOLOGY

In addition to CIP Funds, NRHA will seek a construction loan to cover the infrastructure development costs. Proceeds from lot sales will be utilized to repay the loan.


June 2016

Tab 4. Page 17

5th - 7th BAY DEVELOPMENT



FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Other Government Grants - - - - Interest Income - - - - Proceeds from Notes, Loans and Bonds - - - 2,041,667 Appropriation of (this project) Reserves - - - -

Total Revenue $ - - - 2,041,667

Expenditures


Administration $ - - - 19,061


Maintenance - - - -

Program - - - -

Total Labor $ - - - 19,061



Employee Benefits - - - 6,520

Management Fees - - - 16,086

Total Admin & Program Delivery Exp. $ - - - 41,667 Program Expenses:Utilities $ - - - -

Maintenance - - - -

Specialized Maintenance - - - -

Site Improvements - - - 2,000,000



Bond Fees - - - -

Client (New Loans) - - - -



Transfers to Other Projects * - - - -

Interproject Repayments or Advances - - - -

Other - - - -


Total Program/Operating Expenses $ - - - 2,041,667 Surplus (Deficit) From Operations $ - - - -

Provision For Reserves: Projected Reserves June 30, 2015 $ - - - -

Projected Reserves June 30, 2016 $ - - - - Projected Reserves June 30, 2017 $


June 2016

Tab 4. Page 18

GENERAL FUND

OVERVIEW

A contractual agreement between the City and NRHA which provides additional funds for staffing, neighborhood initiatives and special projects.

PROGRAM INITIATIVES

Provide direct administrative support for the delivery of the Development Division programs and activities.

Support the Economic Development Incentive Grant program to provide performance-based funding to private businesses that generate additional tax revenue for the City of Norfolk.

Provide funding support for office spaces for various agencies partnering with the City of Norfolk.

Maintain acquired properties and pursue disposition activities for new development that serves the objectives established for redevelopment and conservation project areas

FUNDING METHODOLOGY

NRHA applies for funding through the City’s Funding Application Process.


June 2016

Tab 4. Page 19

GENERAL FUND PROGRAMFEDERALLY AIDED HOUSING

FY15 Actual


FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Other Government Grants 2,442,662 2,707,637 2,526,797 3,122,751 Interest Income - - - - Proceeds from Notes, Loans and Bonds - - - - Proceeds from Property Sales - - - - Other Revenue (External Source) - - - - Management Fees (Interproject) - - - - Other Fees (Interproject) - - - - Interproject Repayments - - - - Appropriations from other Programs - - - - Reserves - - - -

Total Revenue $ 2,442,662 2,707,637 2,526,797 3,122,751

Expenditures


Administration $ 433,834 438,335 444,458 455,735


Maintenance - - - -

Program - - - -

Total Labor $ 433,834 438,335 444,458 455,735

Other Administration 300 - - -


Management Fee 353,185 402,963 386,865 384,589

Total Admin & Program Delivery Exp. $ 1,000,000 1,000,000 1,000,000 996,205

Program Expenses:Acquisition $ - - -

Demolition - - - -

Site Improvements - - - -

Disposition - - - 291,795

Rehabilitation - - - -

General Expense 89,945 89,945 89,945 - Interest Expense - - - - Other 1,352,717 1,617,692 1,436,852 1,834,751

Total Program/Operating Expenses $ 2,442,662 2,707,637 2,526,797 3,122,751 Surplus(Deficit) From Operations $ - - - -





June 2016

Tab 4. Page 20

HOME INVESTMENT PARTNERSHIP PROGRAM

OVERVIEW

The objectives of the HOME Investment Partnerships (HOME) Program include (1) expanding the supply of decent and affordable housing for low- and very low-income citizens; (2) strengthening the abilities of State and local governments to design and implement strategies for achieving adequate supplies of decent, and affordable housing; (3) providing financial and technical assistance to participating jurisdictions, including the development of model programs for affordable low-income housing; and (4) extending and strengthening partnerships among all levels of government and private sector, including for-profit and non-profit organizations, in the production and operation of affordable housing. NRHA uses the HOME program to assist eligible first-time buyers with the purchase of a new or existing home that meets program property standards, offering a reduction in principal and assistance with closing costs.

PROGRAM INITIATIVES

Provide homebuyer assistance in the form of down payment and closing costs to 11 eligible first-time homebuyers.

Administer 2 to 3 CHDO Development Projects for 2 to 3 eligible first-time homebuyers.

FUNDING METHODOLOGY

The HOME formula, developed by HUD, spreads the allocation geographically to reflect different types of housing need. HOME funds are split allocating sixty percent (60%) to units of general local government and forty percent (40%) to states.

The City of Norfolk is the grantee and awards HOME funds to NRHA as a subrecipient.


June 2016

Tab 4. Page 21

HOME INVESTMENT PARTNERSHIP PROGRAMFEDERALLY AIDED HOUSING

FY15 Actual FY16

Approved Budget

FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants 730,971 578,866 1,843,046 729,018 Other Government Grants - - - - Interest Income - - - - Proceeds from Notes, Loans and Bonds - - - - Proceeds from Property Sales - - - - Other Revenue (External Source) - - - - Management Fees (Interproject) - - - - Other Fees (Interproject) - - - - Interproject Repayments - - - - Appropriations from other Program - - - - Appropriation of HOME Reserves - - - -

Total Revenue $ 730,971 578,866 1,843,046 729,018

Expenditures


Administration $ 35,882 38,199 36,474 40,155


Maintenance - - - -

Program - - - -

Total Labor $ 35,882 38,199 36,474 40,155

Other Administration 5,119 1,000 133 -


Management Fee 8,444 35,117 16,940 36,914


Program Expenses:Acquisition $ - - - -


Disposition - - - -


NRHA Homebuyer Assistance 669,251 490,720 1,372,185 500,000

CHDO Homebuyer Assistance and Support 7,879 - 408,551 137,411

Other - - - -

Total Program/Operating Expenses $ 730,971 578,866 1,843,036 729,018 Surplus (Deficit) From Operations $ - - - -






June 2016

Tab 4. Page 22

HOMENET

OVERVIEW

This program is comprised of a homeownership counseling center that partners with local lending institutions, attorneys, housing developers, realtors, and local, federal and state housing agencies to assist prospective homebuyers achieve the goal of homeownership.

The Homeownership Center provides credit repair, pre-purchase counseling, and educational services as well as acts as an intermediary of DHCD’s Virginia Individual Development Account Program (VIDA).

Each client is prescribed a plan of action designed and tailored to remove the barriers that prevent them from achieving homeownership.

PROGRAM INITIATIVES

Assist 40 clients achieve homeownership

Provide credit repair and counseling services to 178 clients

Increase 70% of client’s savings

Increase 60% of client’s credit score

Explore strategies and options to increase outside funding support for continued homeownership services.

FUNDING METHODOLOGY

NRHA applies for funding through the City’s Funding Application Process along with fees earned for services.


June 2016

Tab 4. Page 23

HOMENETFEDERALLY AIDED HOUSING

FY15 Actual


FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants 86,718 90,882 91,882 90,882 Other Government Grants 20,000 23,320 39,620 25,000 Interest Income - - - - Proceeds from Notes, Loans and Bonds - - - - Proceeds from Property Sales - - - - Other Revenue (External Source) - - - - Management Fees (Interproject) - - - - Other Fees (Interproject) - - - - Earnings from other Programs - - - - Appropriations from other Programs 29,500 43,545 24,488 - Appropriation of HomeNet Reserves - - -

Total Revenue $ 136,218 157,747 155,990 115,882

Expenditures


Administration $ 60,932 62,269 69,346 47,409


Maintenance - - - -

Program - - -

Total Labor $ 60,932 62,269 69,346 47,409



Management Fee 47,597 57,244 51,584 16,216



Relocation - - - -

Demolition - - - - Site Improvements - - - -

Disposition - - - - Rehabilitation - - - -







June 2016

Tab 4. Page 24

John T. West School Site Development

OVERVIEW

The City of Norfolk has agreed to convey the former John T. West school site to NRHA for the development of 14 single family homes.

The former John T. West School, originally built in 1906, housed the first public African-American high school classes in the City of Norfolk. The school closed in 1980 and deteriorated until its demolition in 2006.

PROGRAM INITIATIVES

Development activities will include collaboration with the Huntersville community regarding the design and installation of an appropriate historic marker to recognize the significance of the John T. West School.

FUNDING METHODOLOGY

$140,000 is budgeted to cover land development costs associated with the preparation and marketing of parcels for the construction of new single family homes on the site of the former John T. West School.

Funds advanced for the land development costs will be recouped from land sale proceeds upon the disposition of the 14 parcels.


June 2016

Tab 4. Page 25

JOHN T. WEST SCHOOL SITE DEVELOPMENTFEDERALLY AIDED HOUSING

FY15 Actual


FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Other Government Grants - - - - Interest Income - - - - Proceeds from Notes, Loans and Bonds - - - - Proceeds from Property Sales - - - - Other Fees for Service (External Source) - - - - Other Revenue (External Source) - - - - Management Fees (Interproject) - - - - Other Fees (Interproject) - - - - Interproject Repayments - - - - Appropriations from other Program - - - - Appropriation of Other Program Reserves - 140,000 - 140,000

Total Revenue $ - 140,000 - 140,000

ExpendituresAdministrative and Program Delivery:Labor:

Administration $ - - - -


Maintenance - - - -

Program - - - -



Employee Benefits - - - -

Management Fee - - - -

Total Admin & Program Delivery Exp. $ - - - -


Relocation - - - -

Demolition - - - -


Disposition - - - - Rehabilitation - - - -

Utilities - - - -

Maintenance - - - -


Planning - 140,000 - 140,000

Total Program/Operating Expenses $ - 140,000 - 140,000 Surplus (Deficit) From Operations $ - - - -





June 2016

Tab 4. Page 26

LOCAL DEVELOPMENT FUND

OVERVIEW

This fund pays for administrative support for Development Operations.

PROGRAM INITIATIVES

Receive fees associated with ongoing development initiatives and new activities reaching fruition in FY2017.

Provide operating and program delivery support for the Community Development Division.

FUNDING METHODOLOGY

Funds in this account are accumulated via settlement and yearly fees on tax-exempt bond issuance, interest on investments and Marriott rent.


June 2016

Tab 4. Page 27

LOCAL DEVELOPMENT FUNDFEDERALLY AIDED HOUSING

FY15 Actual


FY16 Projected

Actual


Revenue:

Net Tenant Rental Revenue $ 114,499 114,500 114,625 114,500

Proceeds from Notes, Loans and Bonds - - - - Proceeds from Property Sales - - - - Other Fees for Service (External Source) - - - - Other Revenue (External Source) 158,342 188,000 226,396 642,500 Management Fees (Interproject) - - - - Other Fees (Interproject) - - - - Privetly Managed Earnings - - - 27,371 Appropriations from Reserves - 454,237 - 72,724

Total Revenue $ 272,841 756,737 341,021 857,095

Expenditures


Administration $ 71,051 312,863 147,206 369,122


Maintenance - - - -

Program - - - -

Total Labor 71,051 312,863 147,206 369,122

Other Administration $ 28,808 21,984 4,954 20,971


Management Fee 41,828 287,616 105,480 311,497



Relocation - - - -

Demolition - - - -


Disposition 20,434 21,000 32,693 29,250



Bond Fees - - - -

Other - - - -

Total Program/Operating Expenses $ 186,617 756,737 341,021 857,095

Surplus (Deficit) From Operations $ 86,224 - - -







June 2016

Tab 4. Page 28

LOW MOD HOUSING PLANNING INITIATIVE

OVERVIEW

This Low Moderate Income Housing Initiative provides administrative and planning support for activities relating to the development of affordable rental and for-sale housing for low and moderate income families.

PROGRAM INITIATIVES

Development of 50 new assisted apartments in Broad Creek.

Development of 70 new assisted apartments in Grandy Village.

Master planning for comprehensive renovations in Young Terrace and Diggs Town.

Coordinated the Authority’s application and implementation of initiatives under the HUD Rental Assistance Demonstration (RAD) program.

Project planning and coordination for future low income housing tax credit (LIHTC) projects for new affordable housing units.

FUNDING METHODOLOGY

The source of funding for this activity includes land sale proceeds from housing development activities supported under the Empowerment 2010 program and privately managed reserves.


June 2016

Tab 4. Page 29

LOW MOD HOUSING PLANNING INITIATIVEFEDERALLY AIDED HOUSING

FY15 Actual


FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Proceeds from Property Sales - - - - Other Fees for Service (External Source) - - - - Other Revenue (External Source) - - - - Management Fees (Interproject) - - - - Other Fees (Interproject) - - - - Interproject Repayments - - - - Appropriations from Privately Managed Reserves - - - 78,239 Appropriations from EZ Reserves 120,931 133,177 129,205 51,839

Total Revenue $ 120,931 133,177 129,205 130,078

Expenditures


Administration $ 87,439 97,777 92,882 97,625


Maintenance - - - -

Program - - - -

Total Labor $ 87,439 97,777 92,882 97,625






Relocation - - - -

Demolition - - - - Site Improvements - - - -


Interproject Repayments or Advances - - - - Other - - - -

Total Program/Operating Expenses $ 120,931 133,177 129,205 130,078 Surplus(Deficit) From Operations $ - - - -

Appropriation for other program $ - - - -

Provision For Reserves:Projected Reserves June 30, 2015 $ 181,044 - - -




June 2016

Tab 4. Page 30

MERRIMACK LANDING OPERATIONS

OVERVIEW

Merrimack Landing was built in 1941 and has 492 units. This project provides below market rate rental housing. Lawson Realty, a private management company, conducts day to day maintenance of this facility.

PROGRAM INITIATIVES

Renovations to rental units are anticipated to be accomplished through turnover over a two year period.

Relocation, interest and enhanced management expenses are being funded through this project for the renovation.

FUNDING METHODOLOGY

Tenant payments for rent, utilities and fees make up the total income for the Merrimack Landing Apartments.


June 2016

Tab 4. Page 31

MERRIMACK LANDING OPERATIONS



FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ 3,719,028 3,326,997 3,226,224 3,326,362 Tenant Revenue - Other 492,519 254,569 483,511 288,434 HUD PHA Grants - - - - Other Government Grants - - - - Interest Income 373 - 343 - Proceeds from Notes, Loans and Bonds - - - - Appropriation of (this project) Reserves - - - -

Total Revenue $ 4,211,920 3,581,566 3,710,078 3,614,796

Expenditures




Maintenance - - - -

Program - - - -





Management Fees 151,774 140,000 133,049 144,200

Total Admin & Program Delivery Exp. $ 707,140 690,353 698,099 763,171 Program Expenses:Utilities $ 374,170 373,477 326,319 384,682

Maintenance 1,087,790 856,745 758,857 919,529



General Expense 52,387 40,974 63,091 42,203

Interest Expense - - 168,750

Relocation Expenses - - - 135,300




Transfers to Other Projects * 1,392,342 - 1,476,446 -

Interproject Transfer - - - -

Other - - 485,333 -

Capital Expenditures 6,746 - - 10,000

Total Program/Operating Expenses $ 3,672,625 2,040,749 3,856,389 2,505,211 Surplus (Deficit) From Operations * $ 539,295 1,540,817 (146,311) 1,109,585


Projected Reserves June 30, 2016 $ - - 8,599,176 -


* Surplus is considered current year earnings to be utilized for other program initative funding gaps


June 2016

Tab 4. Page 32

MERRIMACK LANDING DEVELOPMENT

OVERVIEW

Merrimack Landing was built in 1941 and has 492 units. This project provides below market rate rental housing. Lawson Realty, a private management company, conducts day to day maintenance of this facility.

PROGRAM INITIATIVES

A project to perform comprehensive renovations to all of the residential units has been awarded and construction is anticipated to start in May 2016. The project is phased over two years to allow continued occupancy of the majority of the units in the community.

An associated project to construct a community fitness facility and self-storage units for rent to residents of the community is in the planning phases. Completion of this project is anticipated to occur towards the end of the overall renovation project.

The community will also undergo some repair and upgrade work to its sewer infrastructure within this two year period.

FUNDING METHODOLOGY

A bank loan from TownBank in the principal amount of up to $20.5 million and the use of up to $2.5 million of Merrimack Landing Reserve funds


June 2016

Tab 4. Page 33

MERRIMACK LANDING DEVELOPMENT



FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Other Government Grants - - - - Interest Income - - - - Proceeds from Notes, Loans and Bonds - - - 10,000,000 Appropriation of (operating) Reserves - 1,000,000 - 2,500,000

Total Revenue $ - 1,000,000 - 12,500,000

Expenditures




Maintenance - - - -

Program - - - -






Total Admin & Program Delivery Exp. $ - - - - Program Expenses:Utilities $ - - - -

Maintenance - - - -


Protective Services - - - -



Bond Fees - - - -




Transfers to Other Projects * - - - -


Other - - - -

Capital Expenditures - 1,000,000 - 12,500,000

Total Program/Operating Expenses $ - 1,000,000 - 12,500,000 Surplus (Deficit) $ - - - -




* $2,500,000 to be funded from operating reserves


June 2016

Tab 4. Page 34

OAKMONT NORTH OPERATIONS

OVERVIEW

Oakmont North was built in 1971 and has 408 units. These projects provide below market rate housing. Lawson Realty, a private management company, conducts day to day management and maintenance of both facilities.

PROGRAM INITIATIVES

Oakmont North was included in the Portfolio Needs Assessment (PNA) conducted by the Housing Operations Division for all NRHA rental communities. A review of the PNA study for Oakmont North will be used in determining the long range plans for the community.

The Oakmont North site

includes property that could support the development of additional affordable rental housing units. NRHA continues to pursue community support for this effort.

Capital Improvements included renovation of a playground area and the Family Investment Center

FUNDING METHODOLOGY

Tenant payments for Rent, utilities and other fees make up the total income for the Oakmont North


June 2016

Tab 4. Page 35

OAKMONT NORTH OPERATIONS



FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ 3,686,877 3,745,980 3,477,892 3,716,457 Tenant Revenue - Other 269,704 124,368 204,913 161,612 HUD PHA Grants - - - - Other Government Grants - - - - Interest Income 1,264 1,272 1,297 1,284 Proceeds from Notes, Loans and Bonds - - - - Other Revenue (External Source) - - - -

Total Revenue $ 3,957,845 3,871,620 3,684,102 3,879,353

Expenditures




Maintenance - - - -

Program - - - -





Management Fees 100,524 130,120 108,901 125,000



Utilities 432,699 464,080 370,032 433,836

Maintenance 756,293 1,073,575 947,495 1,122,365


General Expense 112,001 118,352 104,806 114,837

Interest Expense 2,068 2,581 800 1,350

Bond Fees 26,163 17,344 23,490 15,071


Principal Payment on Debt 240,000 255,000 255,000 270,000


Transfers to Other Projects * 508,256 - - -

Other - - - -

Capital Expenditures 121,134 339,805 20,305 279,805

Total Program/Operating Expenses $ 2,972,689 3,214,509 2,465,866 3,033,925 Surplus (Deficit) From Operations * $ 985,156 657,111 1,218,236 845,428




* Surplus is considered current year earnings to be utilized for other program initative funding gaps


June 2016

Tab 4. Page 36

PARK TERRACE OPERATIONS

OVERVIEW

Park Terrace is a project-based Housing Choice Voucher apartment complex with 81 units for Low income families administered by VHDA. This property is managed by S. L. Nusbaum and all residents are eligible for Housing Choice Voucher payments.

PROGRAM INITIATIVES

Long term planning for Park Terrace is included in the Portfolio Needs Assessment.

As the Housing Assistance Payment (HAP) contract for Park Terrace will expire in April 2017, NRHA will seek eighty-one (81) housing vouchers (one per household) through the Housing Choice Voucher (HCV) Program to ensure that all existing Park Terrace residents in compliance with their lease shall have the right to remain in Park Terrace once the HAP contract expires.

During FY ’17 NRHA will begin to determine the renovation needs of Park Terrace and develop a plan to carry out the improvements.

FUNDING METHODOLOGY

Tenant payments for rent, utilities and other fees, in addition to subsidy from HUD make up total income for this project.


June 2016

Tab 4. Page 37

PARK TERRACE OPERATIONS



FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ 228,112 228,010 250,436 233,076 Tenant Revenue - Other 10,960 6,972 16,919 5,580 HUD PHA Grants 302,141 302,246 298,493 316,357 Other Government Grants - - - - Interest Income 3,001 - 2,625 - Other Revenue (External Source) - - - - Appropriation of Park Terrace Reserves * 144,318 50,040 24,152 54,567

Total Revenue $ 688,532 587,268 592,625 609,580

Expenditures




Maintenance - - - -

Program - - - -





Management Fees 8,087 14,431 8,430 9,120


Program Expenses:Utilities $ 89,744 101,514 70,067 93,000

Maintenance 362,240 75,905 162,054 147,080



PILOT - - - -

General Expense 57,904 52,740 61,159 63,600

Interest Expense 27,880 22,712 22,712 4,905

Bond Fees - - - -

Principal Payment on Debt 132,358 126,827 126,827 118,719



Total Program/Operating Expenses $ 824,087 587,268 592,625 609,580 Surplus (Deficit) From Operations $ (135,555) - - -

Depreciation (Not Included in Totals) $ - -




* Restricted Operating reserves held by VHDA will be requested to cover the funding gap


June 2016

Tab 4. Page 38



June 2016

Tab 4. Page 39

Privately Managed Units # of Units

Management Fee

Bookeeping Fee

Asset Management

Fee Total Fees

Fee Rate (PUM) NA $5.00 NA

Merrimack* 492 110,484$ 29,520$ 140,004$

Oakmont* 408 100,520 24,480 125,000

Park Terrace** 88 5,500 - 5,500

Total Privately Managed Units 216,504$ 54,000$ 270,504$

*Flat Fee** 2.5% of Gross Rents

Fee Schedule - Privately Managed Properties FY2017


June 2016

Tab 4. Page 40

REHABILITATION RESERVE ACCOUNT

OVERVIEW

The only income booked to this account today is from repayments from a residential program once offered and funded by the Department of Defense and administered by NRHA.

PROGRAM INITIATIVES

Provide funding to address quality and customer service issues relating to various neighborhood revitalization activities.

FUNDING METHODOLOGY

Growth is from interest income on investments. Use of program income is left to the discretion of NRHA. Cash is advanced to cover rehab construction draws and down payment and closing cost assistance until CD, HOME, or CIP funding is received from the City.


June 2016

Tab 4. Page 41

REHABILITATION RESERVE ACCOUNT



FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Other Fees for Service (External Source) - - - - Other Income - - - - Management Fees (Interproject) - - - - Other Fees (Interproject) - - - - Interproject Repayments - - - - Appropriations from other Program - - - - Appropriation of Rehabilitation Reserves 6,926 291,466 282,657 7,000

Total Revenue $ 6,926 291,466 282,657 7,000

ExpendituresAdministrative and Program Delivery:Labor:



Maintenance - - - -

Program - - - -





Total Admin & Program Delivery Exp. $ - - - - Program Expenses:Acquisition $ - - - -

Relocation - - - -

Demolition - - - -


Disposition - - - -



General Expense 6,926 27,500 12,147 7,000

Operating Transfer* - 263,966 263,966 -



Appropriation for other program $ - - - - Provision For Reserves:Projected Reserves June 30, 2015 $ 304,316 - - -



* Fund to be transferred to Local Development Fund for Administrative Shortfall


June 2016

Tab 4. Page 42



June 2016

Tab 4. Page 43

DescriptionProjected

Carryover to FY17

Approved Budget for FY17

Total Available for FY17

CDBG Program

Disposition 197,608 - 197,608

Rehabilitation 910,990 - 910,990

Project Improvements 90,625 - 90,625 Total CDBG Program 1,199,223$ -$ 1,199,223$ HOME Investment Partnership Program

CHDO -$ 137,411$ 137,411$

NRHA Admin - 91,607 91,607 NRHA Homeownership 1,371,623 500,000 1,871,623

Total HOME Program 1,371,623$ 729,018$ 2,100,641$ Neighborhood Revitalization (CIP)Acquisition 5,426,699$ -$ 5,426,699$

Relocation 100,000 - 100,000

Site Clearance 170,398 - 170,398

Renewal Services Activities 2,000,000 5,150,000 7,150,000

Rehabilitation 351,246 - 351,246

NRHA Admin/Program Delivery - 600,000 600,000

Project Improvements/A&E 202,444 - 202,444 Total CIP Program 8,250,787$ 5,750,000$ 14,000,787$ General FundEconomic Development Performance Grants -$ 1,718,593$ 1,718,593$

Disposition 291,795 291,795$

Wooden Boat Progam - 12,000 12,000$

Residential Options, Inc. Collaboration - - -$

Monroe Building Renal Supplement - 104,158 104,158$

Administrative Support - 996,205 996,205$ Total General Fund -$ 3,122,751$ 3,122,751$ Other Program FundingLow Mod Housing Planning Initiative -$ 130,078$ 130,078$

Dispostion - 29,250 29,250

J.T. West - 140,000 140,000

Land Proceeds East Beach - 80,000 80,000

Rehabilitation Reserve Account - 7,000 7,000

Local Development Fund - 827,845 827,845

HomeNet - 115,882 115,882

5th - 7th Bay - 2,041,667 2,041,667 Total Other Program Funding -$ 3,371,722$ 3,371,722$ Capital Fund & Privately Managed Capital Fund -$ 9,406,557$ 9,406,557$

Merrimack Landing Operations - 2,505,211 2,505,211

Merrimack Landing Development 12,500,000 12,500,000

Oakmont Operations - 3,033,925 3,033,925

Park Terrace - 609,580 609,580 Total Capital Fund and Privately Managed -$ 28,055,273$ 28,055,273$

Total NRHA 10,821,633$ 41,028,764$ 51,850,397$

FEDERAL, LOCAL AND OTHER SOURCESAvailable Revenue for FY2017 (All Program Years)


June 2016

Tab 4. Page 44



June 2016

Tab 4. Page 45

OTHER PROGRAMSBUDGET SUMMARY




FY2017 expenditure needs for Other Programs total $4,514,306 and is comprised of eleven unique programs which are not contained in either of the Authority’s two programmatic divisions. The revenue sources sup-porting these activities are derived from a program’s own reserves, earn-ings from privately managed properties or fee for service agreements. Other programs expenditures include the following projects:

SUMMARY

FY

2017

OT

HE

R P

RO

GR

AM

S

Programs Amount3rd Party Management Fee $ 10,529

Broad Creek /HOPE VI Closeout 75,000

Broad Creek Village 50,000

COCC 519,333

Core Business Service 689,670

Communications and Govt. Relations 443,836

Executive Director Contingency Fund 460,286

Hampton Roads Ventures 15,405

Project Development Financing 1,357,299

Specialized Maintenance 671,228

Tax Credit Residential 221,720

Total $ 4,514,306


June 2016

Tab 5. Page 1

3rd Party Management Project — Asset management and bookkeeping fees re-ceived for services rendered for privately managed properties.

Broad Creek/HOPE VI Closeout— in-cludes the coordination efforts to close out the original HOPE VI grant approved in 2000. Broad Creek Village — Includes the for-mer sites of the Moton and Roberts Village public housing communities that have been cleared and are awaiting develop-ment. COCC — Reserves from Central Office ac-count used to offset shortfalls from charg-ing management fees as a target reduction measure in select programs.

Core Business Service — A project to ex-pense certain services (IT, Parking, Em-ployee Assistance Program and Telephone Lines) determined to be an administrative burden to equitably distribute to the pro-grams. Executive Director Contingency Fund — Funds activities that support internal and external initiatives that are otherwise ineli-gible under federal programs. Government Relations and Communica-tions — The department oversees develop-ment, planning, implementation and inte-gration of all communications and market-ing strategies in support of NRHA’s initia-tives and coordinates liaison activities for legislative matters. Hampton Roads Ventures — NRHA pro-vides management and services to Hamp-ton Roads Ventures, L.L.C. (HRV), includ-ing oversight management for loan servic-ing, asset management, compliance and reporting.

Project Development Financing — Dedi-cated to developing financial strategies and coordinating efforts to provide mixed-financing initiatives in the renovation, re-development or construction of housing. Specialized Maintenance — A collective group of specialized trades that perform maintenance services primarily to the pub-lic housing communities. Tax Credit Residential — Supportive ser-vices provided to Grandy Revitalization and Franklin Arms residents, above and beyond the tax credit agreement.

P R O G R A M D E S C R I P T I O N S


June 2016

Tab 5. Page 2

3rd Party Management Fee Project

FUNDING METHODOLOGY

3rd Party Management Projects – Asset management and bookkeeping fees received for services rendered for privately managed properties.

OVERVIEW

3rd Party Management Projects is a business unit of the Central Office Cost Center (COCC) which is funded by the programmatic divisions. When the amounts of the business unit of the COCC are underfunded, then the gap is included in the other program to be appropriated. See Tab 6 for detailed information.

PROGRAM INITIATIVES

This year, $10,529 of 3rd Party Management Project reserves will be used to fund the gap.


June 2016

Tab 5. Page 3

3rd Party Management Project

FY15 Actual FY16

Approved Budget

FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Management Fees (Interproject) 219,122 216,504 217,218 216,504 Interest Income - - - - Appropriation from (this) Program Reserve - 5,447 - -

Total Revenue $ 219,122 221,951 217,218 216,504

Expenditures



Total Labor $ 76,495 155,240 58,145 139,189 Other Administration 3,582 7,715 5,029 14,200 Other (Interproject Fee for Services) - - - Employee Benefits 28,080 58,996 21,192 52,586 Management Fees (Interproject)

Total Admin & Program Delivery Exp. $ 108,157 221,951 84,366 205,975 Program Expenses:Planning $ - - - - Bond Fees - - - -

Resident Services - - - - Utilities - - - - Maintenance - - - - Specialized Maintenance - - - - Protective Services - - - - Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - - - - Interproject Repayments or Advances - - - - Other - - - - Capital Expenditures - - - -

Total Program/Operating Expenses $ 108,157 221,951 84,366 205,975 Surplus (Deficit) From Operations $ 110,965 - 132,852 10,529

Provision For Reserves: Actual Reserves June 30, 2015 $ 1,094,906 - - - Projected Reserves June 30, 2016 $ - - 1,227,758 - Projected Reserves June 30, 2017 $ - - - 1,238,287


June 2016

Tab 5. Page 4

BROAD CREEK / HOPE VI CLOSEOUT

OVERVIEW

Broad Creek/HOPE VI project was Commissioner approved; HUD executed a HOPE VI application and HUD HOPE VI Grant Agreement. NRHA committed to use local funds to support Broad Creek project.

PROGRAM INITIATIVES

Close Out Grant with HUD Regional Office.

FUNDING METHODOLOGY

The Fund is comprised of land sale proceeds; the available balances of this fund are earmarked to fund grant close out activity.


June 2016

Tab 5. Page 5

BROAD CREEK/ HOPEVI CLOSEOUT



FY 16 Projected

Actual


Revenue: Interest Income $ - - - - Management Fees (Interproject) - - - - Other Fees (Interproject) - - - - Other Fess for Service( External Source) - - - - Earnings from other Program - - - - Appropriations from other Program Reserves - - - - Appropriation of (this project) Reserves 12,591 75,000 - 75,000

Total Revenue $ 12,591 75,000 - 75,000

Expenditures




Maintenance - - - -

Program - - - -


Other Administration - 75,000 - -




Total Admin & Program Delivery Exp. $ - 75,000 - -

Program Expenses:General Expense $ - - - -



Transfers to Other Projects - - - -


Other - - - -


Total Program/Operating Expenses $ - 75,000 - - Surplus (Deficit) From Operations $ 12,591 - - 75,000


Provision For Reserves:Actual Reserves June 30, 2015 $ 157,069 - - -


Projected Reserves June 30, 2016 $ - - 82,069



June 2016

Tab 5. Page 6

BROAD CREEK VILLAGE CENTER

OVERVIEW

Funds provided in support of the development of for-sale homes in the area of the Broad Creek revitalization effort known as Village Center.

Project provides for the maintenance of properties yet to be developed at the former site of Moton and Roberts

PROGRAM INITIATIVES

Activity in 2017 includes maintenance of cleared land

FUNDING METHODOLOGY

The initiative will be funded with contributions from local funds.


June 2016

Tab 5. Page 7

BROAD CREEK VILLAGE CENTER

FY15 Actual FY16

Approved Budget

FY 16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Other Government Grants - - - - Interest Income - - - -

Earnings from Other Programs 57,012 50,000 57,880 50,000

Total Revenue $ 57,012 50,000 57,880 50,000

Expenditures


Administration $ - - - - Resident Services - - - - Maintenance - - - - Program - - - -

Total Labor $ - - - - Other Administration - - - - Other (Interproject Fee for Services) - - - - Employee Benefits - - - - Management Fees (Interproject) - - - -

Total Admin & Program Delivery Exp. $ - - - -

Program Expenses:Resident Services $ - - - - Utilities - - - - Maintenance 57,012 50,000 57,880 50,000 Specialized Maintenance - - - - Protective Services - - - - Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - - - - Interproject Repayments or Advances - - - - Other - - - - Capital Expenditures - - - -


Provision For Reserves:Projected Reserves June 30, 2015 $ - - - -




June 2016

Tab 5. Page 8

Central Office Cost Center

OVERVIEW

The Central Office Cost Center (COCC) refers to the collective group of business units of The Authority which provide corporate oversight, specialized services, or professional support which benefit all or multiple projects or programs (business centers) of NRHA, but whose services may not be readily identifiable to a particular one. See Tab 6 for an explanation of COCC services, initiatives and goals. When the amounts of the business unit of the COCC are underfunded, then the gap is included in the other program to be appropriated.

PROGRAM INITIATIVES

This year, $519,333 of The Central Office Cost Center Offset reserves will be used to fund the gap for the Executive Office, Administration Division, and Housing Oversight Function.

FUNDING METHODOLOGY

This project is funded from excess fees accumulated from prior years for service from Authority’s Programs funded from HUD and other revenue sources.


June 2016

Tab 5. Page 9




FY16 Projected

Actual


Revenue: Management Fees (Interproject) $ 5,411,800 5,293,567 5,214,941 5,414,052 Other Fees (Interproject) 136,330 135,000 81,000 81,000 Other Fess for Service( External Source) 22,500 30,000 30,000 30,000 Earnings from other Program - - - - Appropriations from other Program - - - - Appropriation of (this project) Reserves - 380,712 - 519,333

Total Revenue $ 5,570,630 5,839,279 5,325,941 6,044,385

Expenditures


Administration $ 3,195,895 3,593,164 3,081,568 3,684,201 Resident Services - - Maintenance - - - - Program - - - -

Total Labor $ 3,195,895 3,593,164 3,081,568 3,684,201 Other Administration 430,519 536,376 423,530 557,191 Other (Interproject Fee for Services) 490,939 461,483 417,307 457,058 Employee Benefits 1,168,687 1,248,256 1,307,862 1,345,935 Management Fees - - - -


Program Expenses:General Expense $ - - - - Interest Expense - - - - Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - - - - Interproject Repayments or Advances - - - - Other - - - - Capital Expenditures - - - -

Total Program/Operating Expenses $ 5,286,040 5,839,279 5,230,267 6,044,385 Surplus (Deficit) From Operations $ 284,590 - 95,674 -


Provision For Reserves:Actual Reserves June 30, 2015 $ 3,015,218 - - - Projected Reserves June 30, 2016 $ - - 3,110,892 - Projected Reserves June 30, 2017 $ - - - 2,591,559

-


June 2016

Tab 5. Page 10

COCC - SPECIALIZED MAINTENANCE

OVERVIEW

A collective group of specialized trades that perform maintenance services primarily to the public housing communities. Services include ground maintenance, electrical work, extermination, painting, plastering, plumbing and heating and other specialized maintenance services

PROGRAM INITIATIVES

This year $671,228 of Specialized Maintenance reserves will be used to fund gap.

FUNDING METHODOLOGY

The Fund is comprised of earnings derived from charged fees for services to housing communities and programs for actual work performed.


June 2016

Tab 5. Page 11

COCC-SPECIALIZED MAINTENANCE

FY15 Actual FY16

Approved Budget

FY16 Projected

Actual


Revenue: Other Fees $ 6,491,551 5,912,478 5,661,868 6,202,774 Other Revenue (External Source) - 85,300 - 1,300 Interest Income - - - - Gain/Loss on Disposal Assets 73,590 - - 50,000 Appropriation from (this) Program Reserve 318,548 569,261 679,455 671,228 Appropriation of Reserves - - - -

Total Revenue $ 6,883,689 6,567,039 6,341,323 6,925,302

Expenditures


Administration $ - - - - Resident Services - - - - Maintenance 2,173,165 2,204,999 2,140,449 2,339,026 Program - - - -

Total Labor $ 2,173,165 2,204,999 2,140,449 2,339,026 Other Administration 61,090 31,813 96,257 74,255 Other (Interproject Fee for Services) 200,706 345,535 327,425 327,878 Employee Benefits 856,295 952,205 891,387 941,613 Management Fees (Interproject) 665,678 667,228 589,542 702,309


Program Expenses:Resident Services $ - - - - Utilities 79,260 81,500 62,704 82,000 Maintenance 1,685,484 1,868,687 1,917,830 1,985,650 Specialized Maintenance - - - - Protective Services - - - - General Expense - 85,072 16,068 20,571 Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects 297,100 - - - Interproject Repayments or Advances - - - Other - - - - Capital Expenditures 227,815 330,000 299,661 452,000

Total Program/Operating Expenses $ 6,246,593 6,567,039 6,341,323 6,925,302 Surplus (Deficit) From Operations $ 637,096 - - -

Provision For Reserves: Actual Reserves June 30, 2015 $ 4,834,046 - - - Projected Reserves June 30, 2016 $ - 4,154,591 - Projected Reserves June 30, 2017 $ 3,483,363


June 2016

Tab 5. Page 12

CORE BUSINESS

OVERVIEW

A project created to expense certain services (IT, Parking, Employee Assistance Program and Telephone Lines) determined to be an administrative burden to distribute to the programs.

Core Business Service is a collective group of services and activities considered essential to NRHA operations and the well-being of staff.

PROGRAM INITIATIVES

Expense certain Information Technology Services and other Employee Benefits as a direct cost to relieve administrative burden to distribute cost to programs.

FUNDING METHODOLOGY

The Core Business project is funded by earnings from the Authority’s privately managed apartments.


June 2016

Tab 5. Page 13

CORE BUSINESS

FY15 Actual FY16

Approved Budget

FY 16 Projected

Actual


Revenue: Interest Income $ - - - - Other Fees (Interproject) - - - - Interproject Repayments - - - Earnings from other Programs 399,882 465,615 370,950 689,670

Total Revenue $ 399,882 465,615 370,950 689,670

Expenditures


Administration $ - - - - Resident Services - - - - Maintenance - - - - Program - - - -

Total Labor $ - - - - Other Administration 97,225 84,140 41,945 43,720 Other (Interproject Fee for Services) 234,608 315,975 271,507 575,830 Employee Benefits 68,049 65,500 57,498 70,120 Management Fees (Interproject) - - - -

Total Admin & Program Delivery Exp. $ 399,882 465,615 370,950 689,670 Program Expenses:Resident Services $ - - - - Utilities - - - - Maintenance - - - - Specialized Maintenance - - - - Protective Services - - - - Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - - - - Interproject Repayments or Advances - - - - Other - - - - Capital Expenditures - - - -


Provision For Reserves: Actual Reserves June 30, 2015 $ - - - - Projected Reserves June 30, 2016 $ - - - - Projected Reserves June 30, 2017 $ - - -


June 2016

Tab 5. Page 14

EXECUTIVE DIRECTOR CONTINGENCY FUND

OVERVIEW

The Executive Director (ED) Contingency Fund has been created to capture costs to support internal and external initiatives that are otherwise ineligible under federal programs. Having the contingency fund allows staff activities to continue which would otherwise be unfunded. It also provides flexibility for unforeseen expenditures which can be accessed with the approval from the Executive Director.

PROGRAM INITIATIVES

Support internal and external initiatives

Support administrative RAD Conversion initiatives

FUNDING METHODOLOGY

The Executive Director Contingency Fund is funded by earnings from the Authority’s privately managed apartments.


June 2016

Tab 5. Page 15

EXECUTIVE DIRECTOR CONTINGENCY FUND



FY 16 Projected

Actual


Revenue: Interest Income $ - - - -

Other Revenue (External Source) 40 Earnings from other Program 151,772 609,750 176,988 460,286 Appropriations from other Program - - - - Appropriation of (this project) Reserves - 400,150 - -

Total Revenue $ 151,812 1,009,900 176,988 460,286

Expenditures


Administration $ - - -


Maintenance - - - -

Program - - - -


Other Administration 150,493 1,009,900 176,988 460,286


Employee Benefits 1,319 - - -


Total Admin & Program Delivery Exp. $ 151,812 1,009,900 176,988 460,286

Program Expenses:General Expense $ - - - -



Transfers to Other Projects - - - -


Other - - - -


Total Program/Operating Expenses $ 151,812 1,009,900 176,988 460,286 Surplus (Deficit) From Operations $ - - - -


Provision For Reserves:Actual Reserves June 30, 2015 $ - - - -




June 2016

Tab 5. Page 16

COMMUNICATIONS AND GOVERNMENT RELATIONS

OVERVIEW

The Communications and Government Relations department oversees development, planning, implementation and integration of all communications and marketing strategies in support of NRHA’s initiative and coordinates liaison activities for legislative matters.

Key functions include: media and government relations, website/intranet development and maintenance, newsletters and collateral materials production, presentations, graphic design services, event/tradeshow event planning and management as well as marketing campaigns and research.

PROGRAM INITIATIVES

Providing Community Outreach

Fostering collaborative relationships.

Legislative Advocacy

FUNDING METHODOLOGY

The project is funded by earnings from the Authority’s privately managed apartments.


June 2016

Tab 5. Page 17

COMMUNICATIONS AND GOVERNMENT RELATIONS

FY15 Actual FY16

Approved Budget

FY 16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Developer Fees - - - - Interest Income - - - - Proceeds from Notes, Loans and Bonds - - - - Other Fees for Service (External Source) - - - Earnings from Other Programs 407,486 450,867 426,227 443,836

Total Revenue $ 407,486 450,867 426,227 443,836

Expenditures



Total Labor $ 203,117 223,604 232,162 245,588 Other Administration 70,311 78,308 44,979 78,250 Other (Interproject Fee for Services) 64,674 66,183 68,296 31,852 Employee Benefits 69,384 82,772 80,790 88,146 Management Fees (Interproject) - - - -




Provision For Reserves: Actual Reserves June 30, 2015 $ - - - - Projected Reserves June 30, 2016 $ - - - - Projected Reserves June 30, 2017 $ - - - -


June 2016

Tab 5. Page 18

HAMPTON ROADS VENTURES

OVERVIEW

Hampton Roads Ventures (HRV) is a community development investment firm. They partner with public, private sector and non-profit community development organizations to attract private sector investment capital for innovative real estate projects in lower income neighborhoods, particularly inner city and rural communities. Staffed by experienced community economic development professionals, Hampton Roads Ventures is extremely sensitive to the unique opportunities, challenges and constraints facing public sector and non-profit community development agencies.

PROGRAM INITIATIVES

Meet investor requirements of existing Limited Partnership Agreements for NRHA component units.

FUNDING METHODOLOGY

The HRV Management Agreement provides a fee for service and funding to support operating cost. The New Markets Tax Credit (NMTC) program costs and post-closing expenditures of each investment are reflected under HRV as a component unit of NRHA, rather than incorporated in the Authority’s annual budget. NRHA’s budget reflects the revenue from HRV as a fee for service for operational oversight and support provided by NRHA staff.


June 2016

Tab 5. Page 19

HAMPTON ROADS VENTURES

FY15 Actual FY16

Approved Budget

FY 16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Other Government Grants - - - - Mangement Fees 55,244 55,105 58,717 15,405 Appropriations from other Program - - - -

Total Revenue $ 55,244 55,105 58,717 15,405

Expenditures



Total Labor $ 13,656 12,000 21,620 11,392 Other Administration - - - - Other (Interproject Fee for Services) - - - - Employee Benefits 4,563 4,470 7,832 4,013 Management Fees (Interproject) 37,025 38,635 29,265 -




Provision For Reserves: Actual Reserves June 30, 2014 $ - - - - Projected Reserves June 30, 2015 $ - - - - Projected Reserves June 30, 2016 $ - - - - Projected Reserves June 30, 2017 $


June 2016

Tab 5. Page 20

PROJECT DEVELOPMENT FINANCING

OVERVIEW

Funds provided to support efforts to finance the renovation, redevelopment and/or construction of quality, affordable homes and apartments in sustainable, mixed-income communities.

PROGRAM INITIATIVES

Predevelopment Activity for: Young and Diggs Public

Housing Communities 5th to 7th Bay

Development Other Public Housing

communities converting to RAD.

FUNDING METHODOLOGY

Advances from Working Fund reserves are provided to cover pre-development cost. Advances will be repaid when permanent financing is in place.


June 2016

Tab 5. Page 21

PROJECT DEVELOPMENT FINANCING

FY15 Actual FY16

Approved Budget

FY 16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Developer Fees 164,796 422,352 356,610 557,299 Other Income - - - - Interest Income - - 43,812 - Proceeds from Notes, Loans and Bonds - - - -

Appropriation from Other Program Reserves 183030 75,886 - 800,000

Total Revenue $ 347,826 498,238 400,422 1,357,299

Expenditures



Total Labor $ 184,362 266,010 207,251 304,627 Other Administration 7,168 67,830 10,770 16,535 Other (Interproject Fee for Services) 29,255 30,365 30,365 53,549 Employee Benefits 57,632 62,379 57,389 98,930 Management Fees (Interproject) 69,409 71,654 69,393 83,658

Total Admin & Program Delivery Exp. $ 347,826 498,238 375,168 557,299 Program Expenses:Relocation $ - - - - Demolition - - - - Planning - - - -


General Expense - - - - Interest Expense - - - - Bond Fees - - - - Client (New Loans) - - - - Principal Payment on Debt - - - - Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - - - - Interproject Repayments or Advances - - - 800,000 Other - - - - Capital Expenditures - - - -

Total Program/Operating Expenses $ 347,826 498,238 375,168 1,357,299 Surplus (Deficit) From Operations $ - - 25,254 -




June 2016

Tab 5. Page 22

TAX CREDIT RESIDENTIAL SERVICES

OVERVIEW

Housing Supportive Services provided to Grandy Revitalization and Franklin Arms residents above and beyond the tax credit agreement.

PROGRAM INITIATIVES

Annual cost of resident services to Grandy and Franklin Arms Community

FUNDING METHODOLOGY

The project is funded by earnings from the Authority’s privately managed apartments.


June 2016

Tab 5. Page 23

TAX CREDIT RESIDENTIAL SERVICES

FY15 Actual FY16

Approved Budget

FY16 Projected

Actual


Revenue: Net Tenant Rental Revenue $ - - - - Tenant Revenue - Other - - - - HUD PHA Grants - - - - Developer Fees - - - - Interest Income - - - - Earnings from Other Programs 290,788 298,685 270,741 221,721

Total Revenue $ 290,788 298,685 270,741 221,721

Expenditures


Administration $ 7,853 7,845 9,764 - Resident Services - 13,113 15099 - Maintenance - 4,214 4,214 - Program 8,635 18,625 18,616 -

Total Labor $ 16,488 43,797 47,693 - Other Administration - 2,377 2,459 - Other (Interproject Fee for Services) 1,835 6,370 6,154 - Employee Benefits 7,753 17,512 16,927 - Management Fees (Interproject) 165,455 158,093 142,161 117,653

Total Admin & Program Delivery Exp. $ 191,531 228,149 215,394 117,653 Program Expenses:Resident Services 37,400 1,048 1,660 40,387 Utilities - - - - Maintenance - - 567 - Specialized Maintenance - - - - Protective Services 61,857 69,488 53,120 63,681 Equipment (Non Expendable/Hardware) - - - - Transfers to Other Projects - - - - Interproject Repayments or Advances - - - - Other - - - - Capital Expenditures - - - -




June 2016

Tab 5. Page 24



June 2016

Tab 5. Page 25

CENTRAL OFFICEBUDGET SUMMARY




Virtually all funding of the Central Office Cost Center (COCC) is derived from NRHA programs tendered for services rendered. FY2017 funding totals $15.2 million. (This amount is gross of $ 2.0 million of inter-project activity between COCC units). Budgeted resources for the COCC can be grouped in four categories below.

SUMMARY

FY

2017

CO

CC

OV

ER

VIE

W

Amount %

Management Fees (Internal Projects)

2,706,340$ 17.7%

990,879 6.5%

637,592 4.2%

699,368 4.6%

77,096 0.5%

702,309 4.6%

138,549 0.9%

34,982 0.2%

270,504 1.8%

6,257,619$ 41.0%

Other Fees for Service (Internal Projects)

6,153,774$ 40.3%

427,675 2.8%

81,000 0.5%

6,662,449$ 43.7%

Fees for Service and Other Revenue (External Projects)

41,458 0.3%

Specialized Maintenance fees charges 100,300 0.7%

30,000 0.2%

- 0.0%

171,758$ 1.1%

Reserves or Appropriations (Internal Projects)

187,919 1.2%

519,333 3.4%

201 Granby Bldg 343,367 2.3%

671,228 4.4%

443,836 2.9%

2,165,683$ 14.2%

15,257,509$ 100%

Subtotal:

Other Revenue for Administration Operations

Fees earned for Specialized Maintenance Services

Agency Management Fee for 201 Granby Building

Rental Income 555 Main Street Office (other Prgms)

Total Resources:

Other Revenue for Granby Building

City Grants


Subtotal:

Specialized Maintenance-Admin.

Capital Fund

Subtotal:

Central Office Cost Center Offset

Resources

Federally Aided Housing via HUD-approved Safe Harbor Fees

Development Operations via allocated costs

Subtotal:

Section 8 program via HUD-approved Safe Harbor Fees

Project Development Financing initiatives via allocated costs

Bookkeeping and Asset Management Fees (Multi-family Rental)

Capital Fund Program for direct program administration

Specialized Maintenance via allocated costs

Capital Fund Program for allocated costs

Cottage Bridge


June 2016

Tab 6. Page1

Management fees (internal projects) groups amounts tendered to cover services that may not be directly identifiable with the programs benefited i.e. executive office staff-ing, office administration, bookkeeping, asset management oversight, maintaining computer infrastructure, image management and preparing for audits.

Other fees for service (internal projects) are tendered for program identifiable, direct use of COCC provided services i.e. rent-based on office square footage, charge for actu-al time and material spent on maintenance jobs, pc software and licensing fees.

Fees for service and Other Income (external resources) are funds earned by COCC functions when services are rendered to non-NRHA entities i.e. rental of office space, and maintenance of small equipment.

Reserves or appropriations are cash balances on hand accumulated from prior years operations, mostly from recapture of capital costs through depreciation or the provision of COCC working.

Five functional areas that are budgeted to render services are show below:

As

The chart above reflects:

$6.9 million (45 percent) of the cost for COCC services relates to Specialized Mainte-nance functions which includes the Ballentine Office facility, the Automotive Shop, as well as 10 additional specialty maintenance shops;

Executive & Administrative

Offices$5,357,852

35%

555 Main & Granby Office

Building$812,500

5%

Housing Division

Oversight$1,336,344

9%

Specialized Maintenance$6,925,302

45%

Capital Fund & Enery Management

$825,511 6%

Total $15,257,509


June 2016

Tab 6. Page2

$5.4 million or (35 percent) of the COCC service cost relates to oversight and support provided by the Executive Offices including Government Relations (formerly Com-munications and Marketing), Human Resources and Information Services as well as the departments of the Administrative Division which include Budget and Compli-ance, Finance, and Administrative Services;

$813K or (5 percent) of the COCC budget relates to costs associated with the office space rental of the 555 Main Street Office Building, and vacant property manage-ment of 201 Granby Building.

$826K or another (5 percent) of the COCC services relates to costs associated with the oversight of the Public Housing Capital program as well as construction manage-ment support provided for other affordable housing initiatives; and

$1.3 million or (9 percent) of the COCC budget relates to costs associated with the oversight of the Housing Operations Division including the Public Housing and Housing Choice Voucher programs; other property and management communities and any supporting grants and initiatives.

$9.5 million (62percent) of the COCC budget is for staff costs (e.g. labor and fringe benefits) compared to $8.7 million (56 percent) for FY2016. Fees tendered for the above services are included in the appropriate expenditure line items of the Hous-ing, Development or Other program budgets i.e. management fee, administrative cost, maintenance expense. As such, you will not see a “total COCC expenditure” in the summary of the Authority wide budget. Within the COCC functions, the fees earned from the programs are recorded as revenue in the COCC and then used to fund the operations of the COCC functions.

The COCC head count represents 45% of The Authority’s RFT head count.

2016 2017 Chg.

COCC Departments54 54 - 11 11 - 56 56 - 12 12 -

133 133 - Total Resources:

Headcount

Executive and Administrative Office TotalHousing Division OversightSpecialized MaintenanceCapital Fund and Energy Management


June 2016

Tab 6. Page3

C O C C P r o g r a m s A p p r o v e d R e v e n u e a n d Ex p e n d i t u r e s

Approved Revenue Fiscal Year 2017Amount %


Management Fee (Inter-project) 6,257,619$ 41.0%

Other Fees for Service (Inter-project) 6,662,449 43.7%Other Fees for Service (External Sources) 30,000 0.2%

Other Revenue (External Sources) 141,758 0.9%Appropriation of (this) Project Reserves 1,587,082 10.4%

Appropriation of Program Reserves 578,601 3.8%Total Proposed Revenues 15,257,509$ 100.00%

Approved ExpendituresAmount %

Labor 6,887,185$ 45.1%Employee Benefits 2,607,850 17.1%

Management Fee Expense 921,858 6.0%Other Administration 613,412 4.0%

Capital & Multiyear Programs 245,000 1.6%Copiers 38,380 0.3%

Equipment 207,000 1.4%General Expense 20,571 0.1%

Information Services 42,560 0.3%Insurance - Liability 50,755 0.3%

Insurance - Property 19,555 0.1%Maintenance 2,147,588 14.1%

Protective Services 5,000 0.0%Rent 910 Building 347,642 2.3%

Rent 555 Main Street (COCC) 379,140 2.5%Rent 555 Main Street Other Programs 427,675 2.8%

Telephone 14,374 0.1%

Training and Travel 97,964 0.6%

Utilities 122,000 0.8%

Vehicle 62,000 0.4%

Total Proposed Expenditures 15,257,509$ 100.00%

Excess/Deficit -$


June 2016

Tab 6. Page4

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June 2016

Tab 6. Page5

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the diverseuired by neequirement

d on “doing

have no adpport but r

mber of “legaministrativd fees to coown period

modate mannor is it a in

renovation

SB requiremm (VRS) liab

es for manaperty manag

Room Occu

aff to more portunity to

atements byfinancial sth 31st dead

efine budgeBG) and CI

or the new t

processing ang Terrace p

NCE

e, continuouw program

ts, as well a

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dditional orrequire sign

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ny of the nentegrated s

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ment relatedbility.

agement angement, pu

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effectively ao develop in

y HUD’s Autatements, wdline.

et revisions IP program

tax credit p

and accounproperty ma

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as program

ersus

r inadequatnificant tim

ams that hat and trackiistrative cos

ew initiativesolution for

rimack

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ugust 31st with an

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te e

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es r

and

rs

h


June 2016

Tab 6. Page6

Continued to evaluate accounting software alternatives and establish processes in order to implement and properly account for the new Cottage Bridge project based voucher development as well as future developments.

FY2017 Goals

Continue to update protocol and procedures for management and tracking of

inventory and fixed assets between property management, purchasing, and finance personnel.

Analyze the regulations for the new Grandy VI tax credit development to insure proper accounting and reporting of the entities.

Continue to provide accounting oversight for the new renovation of the Merrimack Landing project.

Provide oversight for the accounting and reporting of the change in Park

Terrace’s status after payoff of the VHDA loan. Implement accounting for RAD/PBV conversions of Grandy Village 032,

Grandy Village 092, North Wellington, Diggs Town, and Young Terrace.

Complete FY2016 unaudited financial statements by HUD’s August 31st deadline. Complete the FY2016 audited financial statements, with an unqualified (clean) opinion by HUD’s March 31st deadline.

Evaluate new State Rental Assistance Program (SRAP) which will allow NRHA to provide approximately 100 new state vouchers to individuals with intellectual and other developmental disabilities.

Finalize new Job Plus Grant processing and accounting procedures between Finance and the Young Terrace property manager.

Analyze and implement accounting for new Out of School Youth (OSY) grant

contract.

Continue to work with consultants in positioning staff to more effectively accomplish NRHA’s goals, as well as afford staff an opportunity to develop in different areas of responsibility and expertise.

Assist in evaluation of new software applications to better position us to meet the future reporting requirements needed for tax credit entities.

Assist in the assessment of legacy programs to determine avenues to

transition them to preforming assets or close out. Assist the Budget Department in a review of the budget preparation and

the transaction recording process for Specialized Maintenance operations Implement additional rent payment option for residents.


June 2016

Tab 6. Page7

Key C

FY 20

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June 2016

Tab 6. Page8

Key C A C

st Im Im M M

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June 2016

Tab 6. Page9

Key

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June 2016

Tab 6. Page10

Chall

FY20

enges Re-trainiadministMajorityworkloadUnexpecSuperintFinding tbusinesscontaineultimatelMaking thbest-practhas moveSupplier &tracking amarket inprocesses

16 AccoRe-Filledthe unexRisk Cooto providCompletVML – W1.65 to .$56,963Met managency-wHarmoniMSDS’s)administComplettraining EstablishmechaniUpdated(UniformRequirem ParticipRe-filleddeparturEstablishProcuremCompletForm 47

ing staff to tration/ma of contracds to bottlected loss of tendent. the right ms reality thed in supplily deliver lehe correct detice sourcingd on dramat& Contract Mand budget mntelligence ans, better visib

omplishd the Risk xpected depordinator cde employeed annual

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ndatory reqwide safetyization inc, pictogramtered durined first two and safetyhed a Riskism.

d 2010 Procm Administments). pation in an the Purchre of the inhed a secoment staff ed HUD Se

710) for Dav

ensure effenagement.

cts have pee-neck at tRoyster Bu

means to ene value thatier contractess value. ecisions regag and procurtically in recManagementmanagementnd data will bility, detaile

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quirement y training oluding new

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cent years wit, spot buyint. The coupl drive greateed audit and

ent and Safthe incumOSHA and e training operforman

on experien8% causin

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lt findings stant posit

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efficient en

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June 2016

Tab 6. Page11

Distribution and training of new Bank of America Pin & Chip Purchase Cards for 80 NRHA cardholders.

Commonly used stock contracts being put in place for next five years. Contracts help to alleviate spend creep and ensure cost containment. Produced a cost savings by combining needs of Facilities Maintenance and Property Management.

Two Buyers obtained Virginia Contracting Associate certifications. Ensures continued training and development of all Administrative

Services Staff.

FY2017 Goals (Administrative Services-Purchasing) Continue to assess job performance based on meaningful standards and

measures Review and update procurement forms with new NRHA Logo Conduct re-training on Ethics, Procurement 101 and Contract

Administration Conduct Program Manager/Technical Representative (Admin) training Continue to reduce costs associated with procurement activity by

participating in cooperative procurement opportunities Sale or disposal of the surplus equipment and furnishings following the

move from the 201 Granby Street Building to include print shop fixed asset equipment

Establishing a Quarterly Procurement Services Newsletter to provide announcements and updates regarding ongoing initiatives and procedures

Increase End-User and Contractor relationships

FY2017 Goals (Building – 201/205 Granby Street) Close-out of 201 Granby Street (Royster Building) by December 2016 Transfer items to other entities within the agency Auction remaining surplus items and outdated furnishings Contract terminations for Royster Building’s HVAC, Extermination,

Janitorial, Fire Alarm/Burglar Monitoring, Plumbing, Electrical and Security contracts.

Continue with routine maintenance and operations of elevators Maintaining the Royster building through its’ disposition.

FY2017 Goals (Administrative Services-Central Files) Continue drafting the new Administrative Services Procedures Manual Train floor Receptionists in managing Switchboard services and calls at

the 555 E. Main Street building Continue to work with Human Resources to review and revise the motor

vehicle policy Continue to scan various development and abatement historical records

that are on onion paper and original carbon Organize new location for destruction and permanent storage files Establish new procedures for internal mail pick up and distribution at

the 555 E. Main Street Building


June 2016

Tab 6. Page12

Establish procedure for personnel assistance needs at 555 E. Main Street Building

FY2017 Goals (Administrative Services - Risk Management and Safety)

Promote a safe working environment for the staff, residents, and the general Public by creating and maintaining an active interest in safety by each community employee, to assist in the overall effort to minimize the frequency of accidents throughout the communities, and to identify corrective measures needed to eliminate or control recognized safety hazards.

Complete the implementation of an agency wide training and safety awareness program to include:

o Assess work areas for safety hazards. o Continue to update safety policies and procedures to illuminate the

hazards. o Train NRHA maintenance personnel to the standard.

Work with outside agencies to produce site specific emergency management guides; this will address the procedures to perform a cohesive response in emergency situations.

Reduce insurance premiums by 15% in accordance with the risk assessment management plan.


June 2016

Tab 6. Page13



June 2016

Tab 6. Page14

COCC Functional Groups

Line Item Descriptions

EXECUTIVE & ADMINIS-

TIVE OFFICES

HOUSING MANAGE-

MENT COCC

MUTUAL COCC

INCOME

TOTAL FOR HSG MANAGEMENT,

EXECUTIVE, ADMINISTRATIVE

CAPITAL FUND & Energy

Management

SPECIALIZED MAINTENANCE

201 Granby Street

555 Main Street Other

Programs

TOTAL FOR COCC

ResourcesCity Grant $ - - - - - - - -

Interest Income - - - - - - -

Management Fee (Interproject) 54,000 216,504 5,349,523 5,620,027 637,592 - - 6,257,619

) Other Fees (Interproject) 81,000 81,000 - 6,153,774 - 427,675 6,662,449

) Other Fees for Service (External Source) 30,000 30,000 - - - 30,000

) Other Revenue (External Source) 0 - 100,300 41,458 141,758

Appropriation of (this project) Reserves 519,333 519,333 53,154 671,228 343,367 1,587,082

Transfer from Other Projects 443,836 443,836 134,765 - 578,601

Total Resources $ 1,128,169 216,504 5,349,523 6,694,196 825,511 6,925,302 384,825 427,675 15,257,509

ExpendituresCapital & Multiyear Programs $ - - - - - 245,000 - 245,000Copiers 16,010 12,170 28,180 0 10,200 - 38,380Depreciation 0 0 0 - - Employee Benefits 1,167,216 319,451 1,486,667 160,246 941,613 19,324 2,607,850Equipment - - 207,000 - 207,000Fee For Service - - 0 - - General Expense - - 20,571 - 20,571Homebuyers' Assistance - - 0 - - Insurance - Liability - - 49,555 1,200 50,755Insurance - Property 1,919 1,919 - - 17,636 19,555Interest Expense - - - - - Information Services 31,200 1,750 32,950 1,700 7,910 - 42,560Labor 3,220,362 848,616 4,068,978 425,599 2,339,026 53,582 6,887,185Maintenance - - 1,985,650 161,938 2,147,588Management Fee Expense - 138,549 702,309 81,000 921,858Other Administration (direct) 498,101 63,657 561,758 35,049 13,700 2,905 613,412Principal Payment on Debt - - - - - Protective Services - - - 5,000 5,000Rent 910 Building 0 55,618 292,024 - 347,642Rent 555 Main Street Bldg COCC 309,915 69,225 379,140 - - - - 379,140

Rent 555 Main Street Bldg Other Prgms 427,675 427,675Telephone 2,080 60 2,140 0 9,994 2,240 14,374

Training and Travel 64,549 21,415 85,964 1,000 11,000 0 97,964

Transfer to other programs - - - - - - - - Utilities 0 0 82,000 40,000 122,000

Vehicle 46,500 46,500 7,750 7,750 0 62,000

Total Expenditures $ 5,357,852 1,336,344 - 6,694,196 825,511 6,925,302 384,825 427,675 15,257,509

Excess/Deficit $ -4,229,683 -1,119,840 5,349,523 - - - - - -


June 2016

Tab 6. Page15


Line Item DescriptionsAdministra- tive Services

AED For Fin &

Adm Svc & CFO

Assistant Executive Director of

Housing

Budget & Compli ance

Capital Fund and Energy

Manage mentExecutive

Office Finance DeptGovernment

RelationsGranby Office

555 Main Street Bldg

ResourcesCity Grant 0

Interest Income

Management Fee (Interproject) 637,592 54,000 0

1) Other Fees (Interproject) 81,000 0 427,675

2) Other Fees for Service (External Source) 15,000 0 15,000 0 0 0

2) Other Revenue (External Source) 41,458

Appropriation of (this project) Reserves 0 0 0 0 53,154 0 0 343,367

Transfer from Other Projects 134,765 443,836

Total Resources $ 81,000 15,000 0 0 825,511 15,000 54,000 443,836 384,825 427,675

ExpendituresCapital & Multiyear Programs $Copiers 3,246 1,456 118 1,791 1,456 4,701DepreciationEmployee Benefits 76,911 70,619 52,495 176,828 160,246 63,345 364,488 88,146 19,324EquipmentGeneral ExpenseInsurance - Liability 1,200Insurance - Property 17,636Interest ExpenseInformation Services 1,750 1,700 14,925 1,600Labor 190,708 224,821 149,823 523,898 425,599 176,997 948,909 245,588 53,582Maintenance 161,938Management Fee Expense 138,549 81,000Other Administration (direct) 116,645 39,592 9,769 10,775 35,049 124,678 25,183 61,750 2,905Principal Payment on DebtProtective Services 5,000Rent 910 Building 55,618

Rent 555 Main Street COCC 25,788 15,126 15,126 41,027 15,126 93,776 30,252 0 0

Rent 555 Main Street Other Programs 427,675Telephone 480 2,240Training andTravel 6,300 3,500 2,275 1,150 1,000 9,000 4,100 16,500Utilities 40,000Vehicle 31,000 7,750 7,750 7,750

Total Expenditures $ 450,598 362,864 231,356 755,469 825,511 398,832 1,456,082 443,836 384,825 427,675

Excess/Deficit $ -369,598 -347,864 -231,356 -755,469 0 -383,832 -1,402,082 0 0 0


June 2016

Tab 6. Page16



ResourcesCity Grant

Interest Income

Management Fee (Interproject)

1) Other Fees (Interproject)

2) Other Fees for Service (External Source)

2) Other Revenue (External Source)

Appropriation of (this project) Reserves

Transfer from Other Projects

Total Resources $

ExpendituresCapital & Multiyear Programs $CopiersDepreciationEmployee BenefitsEquipmentGeneral ExpenseInsurance - LiabilityInsurance - PropertyInterest ExpenseInformation ServicesLaborMaintenanceManagement Fee ExpenseOther Administration (direct)Principal Payment on DebtProtective ServicesRent 910 Building

Rent 555 Main Street COCC

Rent 555 Main Street Other ProgramsTelephoneTraining andTravelUtilitiesVehicle

Total Expenditures $

Excess/Deficit $

Human Re- sources

Information Services

Rental Properties - 3rd Party Oversight

Management Project

Manage- ment Fee

Capital Fund

Manage- ment Fee Housing

Manage- ment Fee Section 8

Manage- ment Fee

Spe- cialized Maint

Manage- ment Fee Develop-

ment

Management Fee Hampton

Roads Venture

216,504 138,549 2,706,340 699,368 702,309 990,879

0 519,333

0 0 216,504 138,549 3,225,673 699,368 702,309 990,879 -

982 429

91,941 148,890 52,586

1,919

4,860 0263,121 432,791 139,189

81,078 13,600 14,200

24,044 37,815

590 1,0106,000 9,824

472,616 646,278 205,975 - - - - - -

-472,616 -646,278 10,529 138,549 3,225,673 699,368 702,309 990,879 -


June 2016

Tab 6. Page17



ResourcesCity Grant

Interest Income

Management Fee (Interproject)

1) Other Fees (Interproject)

2) Other Fees for Service (External Source)

2) Other Revenue (External Source)

Appropriation of (this project) Reserves

Transfer from Other Projects

Total Resources $

ExpendituresCapital & Multiyear Programs $CopiersDepreciationEmployee BenefitsEquipmentGeneral ExpenseInsurance - LiabilityInsurance - PropertyInterest ExpenseInformation ServicesLaborMaintenanceManagement Fee ExpenseOther Administration (direct)Principal Payment on DebtProtective ServicesRent 910 Building

Rent 555 Main Street COCC

Rent 555 Main Street Other ProgramsTelephoneTraining andTravelUtilitiesVehicle

Total Expenditures $

Excess/Deficit $

Management Fee Housing

Reinven

Management Fee Cottage

BridgeProcure-

ment

Public Housing

Property & Asset

Manage- ment

Client Services

PH Annual Plan

Specialized Main-

tenance Grand Total

0

0

77,096 34,982 6,257,619

6,153,774 6,662,449

30,000

100,300 141,758

671,228 1,587,082

578,601

77,096 34,982 - - - - 6,925,302 15,257,509

245,000 245,0001,949 1,902 10,150 10,200 38,380

086,048 132,014 82,356 941,613 2,607,850

207,000 207,00020,571 20,57149,555 50,755

0 19,5550 0

9,815 7,910 42,560213,529 374,688 184,916 2,339,026 6,887,185

1,985,650 2,147,588702,309 921,858

24,800 26,664 13,024 13,700 613,4120

5,000292,024 347,642

26,961 36,066 18,033 0 379,140

427,67560 9,994 14,374

8,175 6,140 13,000 0 11,000 97,96482,000 122,0007,750 62,000

- - 371,277 577,474 321,539 0 6,925,302 15,257,509

77,096 34,982 -371,277 -577,474 -321,539 - - 0


June 2016

Tab 6. Page18

Line Item DescriptionsAutomotive Equipment

Fund

Carpentry Shop

Electrical Electronics Exterminator GroundsHousing

Ops. BldgHVAC Painting

Specialized Maintenance

AdmSanitation Tile

Tool Room

Grand Total

City Grant $ 0Interest Income 0Management Fee (Interproject) 0Other Fees (Interproject) 1,058,565 1,167,603 193,706 98,160 286,476 1,037,215 364,011 1,088,587 313,162 150,050 293,094 103,145 6,153,774Other Fees for Service (External Source) 0Other Revenue (External Source) 58,000 30,000 300 12,000 100,300Appropriation of (this project) Reserves 0Transfer from Other Projects 0

$ 1,116,565 1,197,603 193,706 98,160 286,776 1,037,215 376,011 1,088,587 313,162 0 150,050 293,094 103,145 6,254,074

Capital & Multiyear Programs $ 245,000 245,000Copiers 10,200 10,200Depreciation 0Employee Benefits 68,528 137,435 20,842 19,527 54,113 217,417 0 171,191 52,042 125,409 23,467 34,186 17,456 941,613Equipment 199,000 8,000 207,000General Expense 0Homebuyers' Assistance 0Insurance - Liability 46,227 3,328 49,555Insurance - Property 13,013 7,558 20,571Interest Expense 0Information Services 1,500 1,000 3,890 1,520 7,910Labor 206,306 316,973 68,231 55,207 120,360 448,071 0 474,761 110,713 352,150 46,533 93,818 45,903 2,339,026Maintenance 280,500 304,000 84,950 14,700 61,250 396,000 169,000 394,500 96,250 25,250 39,000 108,500 11,750 1,985,650Management Fee Expense 63,577 93,683 16,343 16,658 37,373 142,986 0 138,378 34,378 109,347 13,965 21,367 14,254 702,309Other Administration (direct) 500 2,000 11,200 13,700Protective Services 0Rent 910 Building 35,223 76,122 7,524 1,080 3,276 45,470 0 2,508 35,830 77,197 2,700 5,094 292,024Rent 555 Main Street Building 0Telephone 9,994 9,994Training and Travel 1,000 2,000 1,000 1,000 2,000 4,000 11,000Utilities 82,000 82,000Vehicle 7,750 7,750

$ 915,374 931,213 201,780 107,172 285,372 1,250,944 529,080 1,183,338 329,213 706,073 122,965 260,571 102,207 6,925,302

$ 201,191 266,390 -8,074 -9,012 1,404 -213,729 -153,069 -94,751 -16,051 -706,073 27,085 32,523 938 -671,228

Central Office Cost Center - Specialized Maintenance


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Central Office Cost Center OVERVIEW of Funding Methodology and Services Provided

The Central Office Cost Center (COCC) is the term used to refer to the collective group of business units of the Authority which provide corporate oversight, specialized services, or professional support which benefit all or multiple projects or programs (business centers) of NRHA, but whose services may not be readily identifiable to a particular one. The COCC units at NRHA include:

Administrative Services Department (1) Asset Management Function (2) Asst. Executive Director for Financial Operations & Chief Financial Officer (1) Asst. Executive Director of Housing (2) Budget & Compliance Department (1) Capital Fund & Energy Management

Department (2) Executive Office (1) Finance Department (1) Government Relations (1)

Human Resources (1) Information Services (1) Rental Properties-3rd Party Management

Oversight (4) Procurement and Administrative Services

Department (1) Resident Services (Central PH oversight) (3) Specialized Maintenance (5) Public Housing Property Management (2) Public Housing Annual Plan Coordination (2)

o Code (1) benefits all NRHA programs, and includes business units in the

Administrative Operations Division and Executive Offices o Code (2) benefits the Public Housing Communities Only o Code (3) benefits the Public Housing Communities Primarily with some Housing

Choice Voucher Program benefits o Code (4) benefits our Privately Managed Rental Developments o Code (5) primarily benefits Public Housing, but also others upon request

The costs of each of the COCC units listed above is funded by the benefiting programs based on one of the 3 following distribution methods.

Earned income Charge backs Pro-rations

EARNED INCOME

The COCC earns income from funded programs to cover its unit operating costs (personnel cost, office administration costs and program administration costs). The COCC collects:

Fees for service that are reasonable and competitive, or Reimbursement of distributed actual costs based on a documented, equitable

cost allocation plan


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NRHA uses the fee for service methodology for all programs mandated by HUD (for asset management approval). HUD also encourages that this approach be used to cover all COCC costs. In addition to the HUD mandated programs, the Authority has adopted the fee for service approach for its non-HUD, locally owned multi-family properties. The fee for service approach is administratively less burdensome than the cumbersome cost allocation basis. However, since such fees have not been established for all programs, the cost allocation plan is still maintained to facilitate equitable charging of all NRHA Programs receiving benefits.

CHARGE BACKS

The COCC also charges back to benefiting programs (as well as the COCC business units) a proportional share of certain actual 3rd party/ front line expenditures that are administered centrally. These costs include: Audit Services Administrative Equipment Maintenance Ballentine Office Rent Cell Phone Allowance Cell Phone Payments

Fringe Benefits 555 Main Street Rent Information Technology Purchases Memberships Liability Insurance Publications

PC Licensing Fee* PC Repairs* Parking* Software License & Maintenance* Telephone Services*

*Note – Because of the administrative burden to charge back costs to benefiting programs coupled with inadequate program funding to cover the costs, certain costs benefiting our major programs are funded by local, discretionary earnings and reserves and are not charged back.

PRO-RATES

Additionally, certain COCC pools have been established to accumulate and then pro-rate actual cost based on a defined reasonable basis to the programs on whose behalf the services are provided. Cost pools that are prorated include:

Development Division Administrative Cost Pool,

Plus the following Client Services Units (PH portion only): Client Svc. Elderly Programs Client Svc. Manager Client Svc. Homeownership Program Client Svc. Housing Resource Admin Client Svc. Intake Client Svc. Neighborhood Mgr

Client Svc Occupancy Client Svc Resource Development Administration Client Svc Youth Programs Client Svc Workforce Development Coordinator Security

Note – When available, the client serve costs listed above may be funded by non-recurring grants.


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SERVICES PROVIDED An overview of the services provided by each unit of the Central Office Cost Center is provided on the following pages.

Asset Management Department

The Asset Management department supports the public housing communities by supplying various services including:

maintaining the Public and Indian Housing Information Center (PIC) public housing report system and the EIV system thus assuring the integrity of the data that is reported to HUD

maintaining statistical analysis of public housing demographics and community activity data

supplying the AMP managers with tools to assist in the management of their community - monthly report card (a condensed monthly financial report),

monitoring and inventory oversight including establishing procedures and processes, training staff, problem solving, annual physical inventory and reconciliation

The Asset Management department also conducts on-going systems training and refresher sessions to the AMP staff as needed. The department assists the AMP managers in gathering the information required for their HUD on-site review and reviews the files and records for HUD compliance. The department also manages the NRHA fraud hotline.

Chief Financial Officer (CFO)

The Chief Financial Officer provides oversight of the Authority's Finance and Administration business departments which provides expert supportive services and administrative data to ensure that all other business areas of the Authority are able to contribute to the achievement of the mission of the organization.

The departments reporting to the CFO of the Administrative Operations Division are Finance, Structual Finance, Budget and Compliance, and Administrative Services.

The CFO office is responsible for ensuring the organization infrastructure links goals, activities and people through planned processes and systems in a manner to support the vision and growth of NRHA.

Chief Housing Officer (CHO)

The Chief Housing Officer provides oversight service to five major Departments at NRHA. The departments are Property Management, Client Services, Facilities Management, Specialized Maintenance and Housing Choice Voucher. The CHO office researches all housing policies effecting the five departments and makes recommendations and changes to the policies and procedures. Grants, plans and reports are reviewed and Approved for submission to HUD and other


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governmental agencies. Periodic reviews are conducted by the CHO office to ensure that NRHA is in compliance with the laws for all Governing Agencies.

Budget and Compliance Department

The Budget & Compliance Department is responsible for coordinating the preparation of the financial expression of the operating and capital plan. The annual operating budget and capital budget managed by this function approximately $100 million per year. Specific support services provided includes preparation of budget guidelines and instructions, coordination of budget preparation and review, providing feedback of budget status and approved budgets, publishing the budget document, providing budget and other analytical and reporting needs, monitoring budget, reporting and compliance oversight, and providing assistance on budget and compliance issues. The Budget and Compliance Department also serves as a liaison with funding providers, and coordinates many of the compliance audits for the Authority.

Capital Fund and Energy Management Department

The Capital Fund and Energy Management Department provides assistance to public housing programs through the development, financing, and modernization of public housing projects; vacancy reduction; replacement of obsolete utility systems and equipment; planned code compliance; management improvements; demolition and replacement of public housing units; resident relocation; empowerment and economic self-sufficiency of public housing residents; and resident security and safety improvements. The department directly provides the following services: strategic planning, physical needs assessments and capital planning, environmental review, construction management, architectural design and review, contract administration, field inspection, and energy management.

Executive Office

The Executive Office is lead by the Executive Director and is responsible for casting the vision of the organization and providing oversight of the direction and administration of all NRHA operations and its affiliate organizations. Departments reporting to this office include Government Relations, Human Resources and Information Services, in addition to the three executive officers - Chief Finance Officer, Chief Housing Officer, and Chief Development Officer.

Finance Department

NRHA’s Finance department bears responsibility for monitoring the fiscal integrity of the Authority. The major charge of the department is ensuring asset identification and control, providing sound fiscal guidance, and performing traditional financial operations such as: Accounts Payable (A/P), Accounts Receivable (A/R), payroll etc., and monitoring compliance with financial mandates.


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Specific services provided for NRHA programs include disbursement of all NRHA funds, processing and payment of biweekly payroll, draw-down of all government revenue, track and report on status of NRHA reserves and inter-project advances, tenant accounting for resident balances, tracking program notes and A/R, grant accounting, cash and investment management, financial reporting, capital asset, land inventory accounting, supply inventory accounting, contract reporting and tracking, regulatory reporting, accounting for NRHA debt obligations, COCC/internal service fund accounting, maintain general ledger and chart of accounts, accounting for component units, maintenance of cost allocation system and evolving fee for service structure, third party property management monitoring and bookkeeping, fiscal agent accounting services, and annual financial plus other audits.


The Communication and Marketing Department is responsible for every aspect of NRHA's internal and external communications. The department answers requests for information, produces multiple publications as well as managing the intranet and website. They are also responsible for customer relations; special events; marketing NRHA's program and services; public and media relations and monitoring and communicating legislative changes impacting NRHA’s operations.

Human Resources

Human Resources (HR) performs professional, technical, and administrative functions on behalf of the organization in staffing, compensation, benefits, training and development, human resources policy development and enforcement, employment law compliance, employee relations, and other internal administration.

Information Services

The Information Services (IS) department provides a wide range of technology services to the operating divisions of the NRHA to:

1) Ensure that technology assets are fully operational for all users in support of daily business needs,

2) Provide security for The Authority’s data from unauthorized access using industry best practices security measures, and performs daily backups of that data utilizing off-site storage, and

3) Maintain vendor-provided and internally-developed custom applications to serve the business needs of the organization.

The department is organized into the following two main sections.

1) The Technology Systems group maintains all hardware including PCs, servers, telecommunications facilities, infrastructure components including telephones and Multi-function copier devices. The Help Desk is under this group and provides direct customer support via telephone and dispatched technician assistance.


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2) The Business Systems group works closely with our vendors to keep that

software “up-to-date” and operational and they provide extensive system and business needs analysis in the development of custom in-house applications to serve the unique needs of our departments. This group provides significant direct support to all areas of management and staff by assisting in application usage, and providing custom reporting as needed.

Administrative Services Department

Administrative Services Department provides a wide array of services to support all Authority operations. The Procurement Services Section develops, recommends, and establishes procurement policies and procedures; serves as internal consultant on procurement policy and procedures; oversees centralized small purchases, survey and disposition of expendable and non-expendable assets; physical inventory of assets; administers credit card purchasing program; administers desktop office supply delivery program; provides centralized supply chain management, primarily for Housing Operations; collaborates with Economic Opportunities Office in outreach to Section 3 and MWBE vendors. The Administrative Services Section manages mail services (incoming, distribution, bulk); Central Files (document management, records retention and storage) parking administration; cellular telephones; vehicle pool; service billings and payments; customer service. The Property Management Section manages the 201Granby building and contract administration with 3rd party realtor. The Safety and Risk Management Services provides workers compensation management; procurement and claims management of general liability, property, auto and boiler insurance; employee safety and risk management); conducts/facilitates employee and resident training in risk management and OSHA compliance; loss prevention, control and accident investigations; and coordinates emergency incident response using a team approach.

Public Housing Property Management

The Public Housing Property Management department provides managerial direction for the operations of all Public Housing communities to ensure that affordable, safe, decent and sanitary housing is available for qualified individuals and families through ongoing monitoring of the physical, management, and financial condition of each community. The Property Management Director develops, coordinates, and oversees operational strategies for assigned communities. In addition, the Property Management assures compliance with HUD public housing rules and regulations, equal housing laws, local ordinances, and American with


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Disabilities Act (ADA) laws. The Director of Property Management also provides supervision of activities of assigned managers to ensure effective operation of department.

Rental Properties - 3rd Party Management Oversight (4)

NRHA has several rental properties which it either owns or has ACC compliance oversight responsibility for whose daily operations are managed by third party realty companies. The COCC third Party Management Oversight function serves to: assure contract compliance; monitor property performance; resolve issues related to contractor’s property management; maintain positive relations with contractor; monitor expenditures for conformity with budget; recommend housing policies, programs, and procedures; monitor compliance with laws and regulations; coordinate asset management functions with NRHA’s managed public housing operations; coordinate property inspections according to UPCS standards set by HUD; randomly review records to ensure they are maintained properly; monitoring review by HUD and VHDA to ensure corrective action; and contract negotiation.

Resident Services Central PH Coordination

Included in the COCC is the supervision only for the central resident service functions that support the public housing residents. The functions supervised include workforce development, resource development, neighborhood management and youth program coordination.

Resident Services Resource Development

The Resident Resource Development Department performs tasks to establish funding resources to support Client Services programs and services. Tasks include:

researches public housing social service issues and latest trends; recommends resident programs policies, programs, and procedures; develops and coordinates grants; identifies, develops and coordinates resource initiatives; maintains current demographic and statistical data on residents and

applicants; conducts annual evaluation of programs and services; and develops process for establishing a 501C (3) designation for the purposes of

increasing funding opportunities.

Annual Plan Coordination

Included in the COCC budget are the cost associated with is the task to coordinate the development of the draft annual plan, disseminate the draft, conduct meetings with residents, staff and others, and present the plan to interested parties, present to the Board and submit to HUD. Prior to developing the draft, a review of HUD guidelines for changes and or mandates required by HUD must be conducted. After submission, follow up with HUD for approval and provide feedback to staff on the contents of the plan.


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Specialized Maintenance Shops

Specialized Maintenance Shops perform services that maintain or improve the physical environment of our housing communities and programs. These services include ground maintenance, electrical work, extermination, painting, plastering, plumbing and heating and other specialized maintenance services. The shops charge fees for services to the housing communities and programs for actual work performed generating income to offset expenses.


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June 2016

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COMPONENT UNITSBUDGET SUMMARY



COMPONENT UNITSGLOSSARY AND ACRONYMS

The Authority’s component units are discretely presented. Discretely presented component units are entities that are legally separate from the Authority, but for which the Authority is f inancially ac-countable, or whose relationships with the Authority are such that exclusion would cause the Authority ’s f inancial statements to be misleading or incomplete. The component units are excluded from the authority’s totals to emphasize they are legally separate from the Authority.

This section includes component units, Hampton Roads Ventures L.L.C., Mission College Apartments, L.P. (MCA), Monroe Building and Norfolk Community College Campus Corporations (NCCCC). The budgets are included in the Authority's reporting entity because of the signif icance of their operational or f inancial relationships with The Authority. Hampton Roads Ventures, Mission College Apart-ments and Norfolk Community College Campus Corporations have the calendar year-end date of December 31.

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SUMMARY


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CHALLENGES

Non Applicable

MAJOR GOALS

Continue operational and maintenance ac-tivities


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H

HAMPTON ROADS VENTURES L.L.C. (HRV)

OVERVIEW

Hampton Roads Ventures (HRV) is a limited liability company formed in 2003. HRV is a qualified community development entity that holds new market tax credit allocation authority to be used for investment in qualified active low-income community businesses.

PROGRAM INITIATIVES

The goal of the program is to spur revitalization efforts of low-income and impoverished communities

FUNDING METHODOLOGY

The NMTC Program provides tax credit incentives to investors for equity investments in certified Community Development Entities, which invest in low-income communities.


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HAMPTON ROADS VENTURES L.L.C. (HRV)

Mission College CY 13 Actual

CY 14 Actual

CY 15 Actual

CY16 Approved Budget

Revenue: Operating Receipts $ 2,187,782 920,631 1,422,035 1,451,000 Subsidy/Grants Admin - - - - Subsidy/Grants Program - - - - Interest 7,750 5,998 3,148 100,000 Other 356,130 237,764 446,573 270,300

Total Revenue $ 2,551,662 1,164,393 1,871,756 1,821,300 Operating Expenses:


Administration $ 116,703 214,232 247,486 340,000


Maintenance - - - - Program - - - -

Total Labor $ 116,703 214,232 247,486 340,000


Employee Benefits - - - - Management Fee - - - -

Total Admin and Program Delivery Expenses $ 116,703 214,232 247,486 340,000


Utilities - - - -

Maintenance - - - -




Interest Expense - - - - Other 965,503 718,556 876,468 985,900

Total Program Expenses $ 965,503 718,556 876,468 985,900

Total Operating Expenses $ 1,082,206 932,788 1,123,954 1,325,900

Surplus (Deficit) From Operations $ 1,469,456 231,605 747,802 495,400

NonOperating Expenses:Equipment (Non Expendable/Hardware) $ - - - -

Capital Improvements - - - -

Principal Payment on Debt - - - - Distribution of Surplus Cash - - - -

Total NonOperating Expenses $ - - - -

Other Financing Sources and Uses:Interproject Transfers IN(OUT) $ - - - -

Interproject Repayments (Advances) - - - -

Client Repayments (New Loans) - - - -

Proceeds from Notes - - - -

Proceeds from Sale of Property - - - - Reserves - - - -

Total Other Financing Sources and Uses $ - - - -

TOTAL EXCESS (DEFICIT) $ 1,469,456 231,605 747,802 495,400



Actual Reserves December 31, 2013 $ 5,756,909

Actual Reserves December 31, 2014 $ 5,988,514$

Actual Reserves December 31, 2015 $ 6,736,316$

Projected Reserves December 31, 2016 $ 7,231,716$


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MISSION COLLEGE APARTMENTS, L.P. (MCA)

OVERVIEW

Mission College Apartments, L.P. is a tax credit development; owned by a limited partnership (MCA) with NRHA as the general administrative overview. There are 260 units of housing for low-to-moderate income families managed by S/L/ Nusbaum Realty Company. PROGRAM INITIATIVES

General operations and maintenance

FUNDING METHODOLOGY

Tenant payments for rent.


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MISSION COLLEGE APARTMENTS, L.P.(MCA)

Mission College CY 13 Actual

CY 14 Actual

CY15 Actual


Revenue: Operating Receipts $ 2,207,368 2,298,324 2,316,468 2,341,468 Subsidy/Grants Admin - - - - Subsidy/Grants Program - - - - Interest 2,647 3,112 2,832 3,100 Other 188,248 233,246 264,794 300,000

Total Revenue $ 2,398,263 2,534,682 2,584,094 2,644,568 Operating Expenses:


Administration $ 321,429 310,920 284,773 295,000



Total Labor $ 321,429 310,920 284,773 295,000


Employee Benefits - - - - Management Fee 84,217 88,968 86,716 89,000

Total Admin and Program Delivery Expenses $ 405,646 399,888 371,489 384,000


Utilities 239,107 252,299 266,454 270,000

Maintenance 356,836 437,755 594,093 450,000




Interest Expense 957,343 960,747 948,077 955,000 Other 317,751 396,438 355,452 360,000

Total Program Expenses $ 1,871,037 2,047,239 2,164,076 2,035,000

Total Operating Expenses $ 2,276,683 2,447,127 2,535,565 2,419,000


NonOperating Expenses:Equipment (Non Expendable/Hardware) $ - - - -

Capital Improvements - - - -

Principal Payment on Debt 74,277 85,070 84,790 83,000 Distribution of Surplus Cash - 40,831 - 20,000

Total NonOperating Expenses $ 74,277 125,901 84,790 103,000

Other Financing Sources and Uses:Interproject Transfers IN(OUT) $ - - - -



Proceeds from Notes - - - -

Proceeds from Sale of Property - - - - Reserves - - - -

Total Other Financing Sources and Uses $ - - - -

TOTAL EXCESS (DEFICIT) $ 47,303 (38,346) (36,261) 122,568

Depreciation (Not Included in Totals) $ 669,674 511,576 513,517 520,000


Actual Reserves December 31, 2013



Projected Reserves December 31, 2016


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M

MONROE BUILDING GOVERNORS SCHOOL FOR THE ARTS

OVERVIEW

The City of Norfolk is working with the Governor’s School for the Arts (GSA) on a proposal to renovate the Monroe Building, on Granby Street in Downtown Norfolk, for the purpose od consolidating several components of the GSA’s operations.

PROGRAM INITIATIVES

Building renovation is expected to be fully completed by spring 2014.

Consolidation of GSA’s administrative and primary educational spaces at the Monroe Building.

The Monroe building will house facilities serving the Wells Theatre and will be used by the Virginia Stage Company.

FUNDING METHODOLOGY

The $9.7 million transaction utilized state and federal historic rehabilitation tax credits, a private donation, City of Norfolk funding, and a leveraged loan.


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MONROE BUILDING GOVERNORS SCHOOL FOR THE ARTS(GSA)

Approved Cumulative

Budget

Cumulative Actual CY

2014

Cumulative Actual CY

2015


Revenue: Operating Receipts $ - 457,915 467,563 477,416 Subsidy/Grants Admin - - - - Subsidy/Grants Program - CIP - 620,000 - - Interest - - - - Appropriation of Project Reserves - 109,249 99,381 Other - Investor Equity 9,741,017 6,681,968 159,671 -

Total Revenue $ 9,741,017 7,759,883 736,483 576,797 Operating Expenses:


Administration $ - 2,142 550 2,652





Employee Benefits - - - - Management Fee - 19,500 19,965 20,444

Total Admin and Program Delivery Expenses $ - 19,500 19,965 20,444


Utilities - - - -

Maintenance - 12,835 - -



General Expense - 117,726 116,013 122,124

Interest Expense - 252,107 210,001 210,995 Other - - - -

Total Program Expenses $ - 382,668 326,014 333,120

Total Operating Expenses $ - 402,168 345,979 353,564

Surplus (Deficit) From Operations $ 9,741,017 7,357,715 390,504 223,233

NonOperating Expenses:Equipment (Non Expendable/Hardware) $ - 55,607 - -

Building and Capital Improvements 9,741,017 11,687,494 - -

Land Acqusition 1,000,003

Principal Payment on Debt - 2,769,393 23,181 76,306 Distribution of Surplus Cash - 18,297 267,942 36,700

Total NonOperating Expenses $ 9,741,017 15,530,794 291,123 113,006

Other Financing Sources and Uses: Interproject Transfers IN(OUT) $ - - - -



Proceeds from Notes - 8,282,328 - -

Proceeds from Sale of Property - - - - Reserve Deposit of Excess Operaating Cash - (109,249) (99,381) (110,227)

Total Other Financing Sources and Uses $ - 8,173,079 (99,381) (110,227)

TOTAL EXCESS (DEFICIT) $ - - (0) 0

Depreciation (Not Included in Totals) $ - 302,089 311,313 310,801

Amortization (Not Included in Totals) 22,442 23,449 9,494


Actual Reserves December 31, 2014 $ 267,609$

Actual Reserves December 31, 2015 $ 257,741$

Projected Reserves December 31, 2016 $ 268,587$


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M

NORFOLK COMMUNITY COLLEGE CAMPUS CORPORATION (NCCC)

OVERVIEW

Norfolk Community College Campus is a non-stock corporation which was organized in 1994 for charitable and educational purposes including developing and maintaining a public educational facility.

PROGRAM INITIATIVES

Lease revenues are expected to equal bond expenditures each year.

FUNDING METHODOLOGY

The Authority appoints the members of NCCC, and guarantees the payment of some revenue bonds sole from the source of the revenues.


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NORFOLK COMMUNITY CAMPUS COPRORATION (NCCCC)

FEDERALLY AIDED HOUSING CY 13 Actual

CY 14 Actual

CY 15 Actual


Revenue: Net Tenant Rental Revenue $

Tenant Revenue - Other

HUD PHA Grants

Other Government Grants

Interest Income 325,194 241,388 163,939 150,000 Proceeds from Notes, Loans and Bonds 1,713,219 1,735,000 1,820,000 610,000 Other Revenue (External Source) 34,932 44,703 31,591 27,000

Total Revenue $ 2,073,345 2,021,091 2,015,530 787,000

Expenditures




Maintenance - - - -

Program - - - -




Employee Benefits - - -

Management Fees 13,000 13,000 13,000 10,000


Program Expenses:Interest Expense 360,591 277,636 200,838 125,838

Trustee Fees 5,000 5,000 5,000 5,000

Client (New Loans) - - -

Principal Payment on Debt 1,650,000 1,735,000 1,820,000 610,000

Equipment (Non Expendable/Hardware) - - -

Other 34,558 - - -


Total Program/Operating Expenses $ 2,074,184 2,042,571 2,050,988 763,088 Surplus (Deficit) From Operations $ (839) (21,480) (35,458) 23,912

Depreciation (Not Included in Totals) $

Provision For Reserves:Actual Reserves December 31, 2012 $ 187,446 -

Actual Reserves December 31, 2013 $ - -

Actual Reserves December 31, 2014 $ 165,127 - -

Actual Reserves December 31, 2015 $ 129,669 -

Projected Reserves December 31, 2016 $ 153,581


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June 2016

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GLOSSARY AND ACRONYMSBUDGET SUMMARY




BUDGET GLOSSARY

The Budget Document contains a variety of terms, phrases, and references to programs that are not generally familiar. Some are unique to governmental budgeting or housing agencies; some are unique to NRHA. This glossary made liberal use of glossaries already compiled by other governmental entities and of NRHA’s independent auditors. In all instances, terms are defined as they are used in NRHA’s budget.

Account – A separate financial reporting unit for budgeting, management, or accounting purposes. All budgetary transactions (revenue or expenditure) are recorded in accounts. Several related accounts may be grouped together in a fund.

Accounting System – The total set of records and procedures which are used to record, classify, and report information on the financial status and operations of an entity or fund.

Accounts Payable (A/P) - is the obligation that a business owes to its creditors for buying goods or services. It is the unpaid invoices, bills, or statements for goods or services rendered by outside contractors, vendors or suppliers.

Accounts Receivable (A/R) - Money which is owed to a company by a customer for products or services provided on credit. A specific sale is generally only treated as an account receivable after the customer is sent an invoice.

Accrual – A method of accounting that recognizes the financial effect of transactions, events and inter-fund activities when they occur, regardless of the timing of related cash flows.

Acquisition – Costs associated with the actual purchase or other acquisition of land.

Activity – A specific line item capturing the cost of work performed to accomplish a function, project or program for which a governmental unit is responsible.

Administration (also Administrative) – Costs associated with the general management, oversight, coordination, monitoring and evaluation of program. While these costs are not a component of the final work product, they are

essential to the accomplishment of program objectives. At NRHA, direct program administration costs are captured in the activity “administration” or “other administration”. Indirect administrative costs are captured in the line called “Allocated Administration Costs”.

Advances – The temporary loan of cash from one program to another in anticipation of the future repayment.

Allocations – The allowable costs of services provided by a governmental unit on a centralized basis to its departments and units; these central service costs are accumulated during the month then distributed (or allocated) to the appropriate programs based on the relative benefit received – as defined by a documented central service cost allocation plan. The services are necessary for the function of the organization as a whole, but cannot be directly assigned to one program. i.e. accounting, computer support, human resources, etc. or are considered more efficient to administer centrally i.e. (liability insurance, office rent, division general office expenses).

Amendment – A change to an adopted budget which may increase or decrease a fund total and requires Board of Commissioner approval.

American Dream Down Payment Initiative (ADDI) – Provides down payment, closing cost and rehabilitation assistance in the amount of $10K or 6% of the home’s purchase price to eligible individuals to help increase the homeownership rate among minority and lower-income households.

Americans with Disabilities (ADA) – Civil rights protection for individuals with disabilities similar to those provided to individuals on the basis or


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race, color, sex, national origin, age and religion. It guarantees equal opportunity for those with disabilities in public accommodations, employment, transportation, state and local government services and telecommunications.

Annual Contributions Contract (ACC) – Each public housing project is covered by an ACC which is executed between HUD and the PHA and sets forth the specific obligations and responsibilities of each party in the implementation of the Public Housing Program.

Appropriation – An authorization made by NRHA Board of Commissioners, which permits NRHA to incur obligations and to make expenditure of resources. An appropriation is a specified sum of money from a specified fund for a specific purpose.

Approved Budget - The financial plan of revenues and expenditures for a fiscal year that are adopted once they are approved by the Board of Commissioners.

Audit – Systematic collection of sufficient, competent evidential matter needed to attest to the fairness of the presentation of the Authority’s or service provider financial statements. The audit tests the Authority’s accounting system to determine whether the internal accounting controls are both available and being used.

Authority – Refers to Norfolk Redevelopment and Housing Authority.

Available Fund Balance – That portion of a fund balance available within the current period or soon enough thereafter to be used to pay liabilities of the current period.

Balance Budget – Total revenues equal total expenses.

Balance Sheet – That portion of the Authority’s financial statement that discloses the assets, liabilities and reserves. The sheets reflect the balances of specific government funds as of specific date.

Basis of Accounting – A term used when revenues, expenditures, expenses, transfers, assets, and liabilities are recognized in the accounts reported in the financial statements. Specifically, it relates to timing of measurements

made, regardless of nature to the measurement, on the cash, modified accrual or accrual method.

Beginning/Ending Balance – Cash resources available in a fund from the prior/current fiscal year after payment of the prior/current fiscal year’s expenditures. This is not necessarily cash on hand.

Blighted Area – Is an area and or structure of a community which constitutes physical, social or economic liabilities. Redevelopment is in the interest of the people of the community and the city.

Board of Commissioners – (BOC) Locally appointed citizens who serve as the direct supervisor and policy makers of a local public agency for a specified term, usually without financial compensation.

Bond Fees – Funds received to pay down principal debt of a loan.

Broad Creek Village Center - Includes the former site of the Roberts Village public housing community that has been cleared and is awaiting development.

Budget (Operating) – A plan of financial operation embodying an estimate of proposed expenditures for a given period (typically a fiscal year) and the proposed means of financing them. Proposed budget is drafted first. Once it is approved and adopted by the Board, it becomes the “Approved Budget.”

Budget Amendment– A procedure to revise a budget appropriation either by: a) NRHA Board approval via adoption of a supplemental Resolution for any addition appropriation, or b) Chief Executive Officer approval for any inter-divisional or inter-fund adjustments.

Budget Calendar – Key date schedule NRHA follows in the preparation, adoption, and implementation of the budget. The calendar begins with the issuance of the budget preparation package; ends with adoption of the budget by resolution of the Board of Commissioners.

Budget Document – A bound version of approved budget authorizations presented as a comprehensive financial program.


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Budgetary Control – The control or management of a governmental unit or enterprise in accordance with an approved budget for the purpose of keeping expenditures within the limitations of authorized appropriations and available revenues.

CHDO Support & Administration – Expenditures relating to the Community and Housing Development Organization, a nonprofit housing provider.

Capital Budget – A plan of expenditures which results in the acquisition of or addition to fixed assets, and the means of financing these expenditures.

Capital Equipment – Chattels which have a useful life of more than five years and a unit cost of at least $5,000.00.

Capital Expenditures – Cost that is incurred in the acquisition or improvement of property asset.

Capital Fund Admin. - Management fee provided by HUD for the oversight for physical improvements to all public housing communities as well as some supportive services.

Capital Fund Program – Provides funding for physical and management improvements to all Public Housing Authorities.

Capital Improvement – A permanent addition to NRHA’s assets (for operations), including the design, construction, or purchase of land, buildings, or facilities, or major renovations.

Capital Improvement Program (CIP) – A plan for capital expenditures to provide long lasting physical improvements to be incurred over a fixed period of several future years.

Capital Improvement Program Independent (CIP-I) – A short-range plan, usually four to six years, which identifies independent projects, provides a planning schedule and identifies options for financing the plan.

Capital Improvement Program Neighborhood (CIP-N) – A short-range plan, usually four to six years, which identifies neighborhood projects, provides a planning schedule and identifies options for financing the plan.

Central Service Cost Allocation Plan – The documentation identifying, accumulating, and allocating allowable costs of services provided by a

governmental unit on a centralized basis to its departments and units. The costs of these services may be allocated or billed to users.

CEO Contingency - Funds activities that support internal and external initiatives that are otherwise ineligible under Federal programs.

Chart of Accounts – The list of general ledger account numbers that subdivide basic accounting equations, with associated titles and definitions, used by an entity for posting to its general ledger.

COCC Admin - A collective group of business units of the Authority which provide corporate oversight, specialized services, and professional support. COCC Specialized Maintenance - A collective group of specialized trades that perform maintenance services primarily to the public housing communities.

Cost of living Adjustment (COLA) –- An increase in salary for employees intended to adjust for inflation.

Collateralized Mortgage Obligations – A security backed by a pool of pass-through rates structured so that there are several classes of bondholders with varying maturities, called tranches. The principal payments from the underlying pool of pass-through securities are used to retire the bonds on a priority basis as specified in the prospectus.

Come Home To Norfolk, Now (NOW) – is a program designed to encourage and maximize investment in Norfolk’s neighborhoods and to spread the word about the breadth and quality of the city’s housing

Community Development – A special Revenue Fund which accounts for the implementation and administration of the Federal Community Development Block Grant Program and the cost associated with the delivery of financial services for the Community Development loan and grant and rental rehabilitation program.

Community Development Block Grant Program (CDBG) – A federal program which allocates block grants to local governments to be used to meet housing and community development needs. NRHA applies to the City of


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Norfolk each year to obtain funding to perform particular projects for the city.

Community Housing Partnership (CHP) - a 501(c)(3) community development corporation that serves the needs of low-wealth and low-income individuals and families in the southeast by creating affordable, green, sustainable housing opportunities and services for them.

Comprehensive Grant Program (CGP) – A formula-determined federal grant program which is aimed at funding capital improvements and correction of construction and management deficiencies in the federally-assisted housing communities to ensure their continued availability to low and moderate income families.

Contingency – An authorized budgetary set aside for emergencies or unforeseen expenditures during the fiscal year.

Contributed Capital – An equity account that shows the amount of permanent fund contributed to that fund.

Core Business Services - A newly created project to expense certain services (IT, Parking, Employee Assistance Program and Telephone Lines) determined to be an administrative burden to distribute to the program.

Cost – An amount as determined on cash, accrual, or other basis acceptable to the Federal awarding or cognizant agency. It does not include transfers (permanent nor temporary) to a general or similar fund.

Davis-Bacon – Statutory requirement that persons working on federally supported projects is paid at least a minimum of prevailing wage.

Debt Service Fund – The Debt Service Fund accounts for transactions related to resources obtained and used for the payment of interest and principal on long-term general obligation debt, except for the debt payable by the propriety Fund Types. Resources are principally derived from contributions from HUD.

Deficit – The excess of expenditures over revenues (cash basis).

Demolition – Costs related to the removal of a structure, existing paving, foundations, utilities and related infrastructure.

Department – A defined segment of NRHA employees and equipment assigned overall management responsibility for a group of related operations within a functional area.

Department of Housing and Urban Development (HUD) – The federal agency which administers the bulk of funds for the federal government’s housing and economic development programs.

Depreciation –1.) Expiration in the service life of a capital assets attributable to wear and tear, deterioration, action of the physical elements, inadequacy or obsolescence. 2.) That portion of the cost of a capital asset which is charged as an expense over the expected usable life of the asset.

Disposition – The cost associated with acquired property, such as legal fees and surveys, and routine maintenance.

Division – A group of departments that make up the various units which are functionally unique in their service delivery:

Drawdown - The withdrawal of funds from an account established for a specific purpose (e.g., drawing funds against a letter of credit, a federal grant, or an escrow account).

Eminent Domain – Authority of a government agency to acquire property for public purposes. This is also known as condemnation.

Employee (or Fringe) Benefits - Amounts paid on behalf of employees, not included in the gross salary. Examples are group health or life insurance payments, contributions to employee retirement, Social Security taxes, workers’ compensation payments and unemployment insurance payments.

Encumbrance – The legal commitment of appropriated funds to purchase an item or service. To encumber funds means to set aside or commit funds for a future expenditure.

Enterprise Funds – Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises – where the intent of the Authority is


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that the costs (expenses, including depreciation) of providing goods and services to the general public on a continuing basis will be recovered primarily through user charges. The measurement focus is upon determination of net income, financial position, and changes in financial position.

Equipment – An article of tangible personal property that has a useful life of more than 2 years and a cost of $500 or more.

Estimated Revenue – The amount of revenue projected to be collected during the fiscal year.

Expendable – Property that is consumed, loses its identity, or becomes an integral part of other property and has an expected life of less than one year, with a cost of under $500(example: materials and supplies).

Expenditure/Expense – Decreases in net financial resources. Refers to the outflow of funds paid in acquiring an asset, goods, or services which requires current or future use of current assets.

External Source – a source outside NRHA.

Extraordinary Maintenance - Work that is not recurrent, is substantial in scope, and is performed in connection with specific work programs. Whether performed by the owner or regularly employed staff, specific labor force, or under contract, the expenditure involved would otherwise materially distort the level trend of ordinary maintenance expense.

Fair Labor Standards Act (FLSA) – Requires most employers in the United States to comply with minimum wage and hour standards. It requires overtime payment for employees working more than 40 hours per work week, employment limitations for children and mandated record keeping by employers.

Family Investment Center (FIC) – Located in Calvert Square, it provides the public housing communities with a variety of sources and support such as the Family Resource Center, Youth Center, Elderly Programs and the Early Childhood Education Program. It is a unique partnership between several public and private agencies.

Family Self-Sufficiency (FSS) – A HUD program that encourages communities to develop local

strategies to help families living in subsidized housing obtains employment that will lead to economic independence and self-sufficiency.

Federal Insurance Contributions Act tax (FICA) – Mandates that an employer withhold a set percentage of an employee’s pay each pay period and requires that the employer match the employee’s amount and contribute the money to the Social Security Trust Fund.

Fees for Service & Other Income (External Projects) – are funds earned by COCC functions when services are rendered to non-NRHA entities, i.e. rental of office space, maintenance of small equipment.

Fiscal Year (FY) – The twelve (12) month period for recording financial transactions. NRHA’s fiscal year begins July 1st and ends June 30th.

Fiscal Year-to-Date (FYTD) – A total of all activity from the first day of the fiscal year (July 1) to the date the information was last updated.

Fixed Assets – Assets of long-term character which are intended to continue to be held or used, such as land, buildings, machinery, furniture and other equipment.

Fund – An independent fiscal and accounting entity with a self-balancing set of accounts recording cash and/or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives.

Fund Balance – The excess of an entity’s or fund’s assets over its liabilities and is therefore also known as surplus funds. A negative fund balance is sometimes known as a deficit.

Fungible – a commodity that is freely interchangeable with another in satisfying an obligation.

General Fund (GF) – The fund is a contractual agreement between the City and NRHA which provides additional funds for staffing neighborhood initiatives and special projects.

General Expense – An expense not directly connected with any single department.


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General Governmental Revenue – The revenue of government other than those derived from and retained in an enterprise fund.

General Obligation Bonds – Bonds that finance a variety of public projects such as streets, buildings, and improvements; the repayment of these bonds is usually made from secondary property taxes, and these bonds are backed by the full faith and credit of the issuing governmental body.

General Operating Expenditures – Expenses incurred for administration, maintenance, establishment of reserves and other costs and charges (including, but not limited to payments in lieu of taxes and operating improvements) which are necessary for the operation of a project.

Generally Accepted Accounting Principles (GAAP) - Uniform minimum standards and guidelines for financial accounting and reporting. These principles govern the form and content of the financial statements of an entity. The GAAP encompasses the conventions; rules and procedures necessary to define accepted accounting practices at a particular time. They include not only broad guidelines of general applications, but also detailed practices and procedures. The GAAP provides a standard by which to measure financial presentations. The primary authoritative body on application of GAAP to state and local government is the Government Accounting Standards Board (GASB).

Goal – The milestone the program or organization aims to achieve.

Government Relations (Formerly Communications and Marketing) - The department oversees development, planning, implementation and integration of all communications and marketing strategies in support of NRHA’s initiatives and coordinates liaison activities for legislative matters.

Grant – A contribution by the government or other organization to support a particular function. Grants may be classified as either categorical or block depending upon the amount of discretion allowed to the grantee.

HUD – see Department of Housing and Urban Development

Hard Cost – The costs directly associated with the construction of a development, including labor, materials, general contractor, profit and contingencies.

Home Investment Partnership Program (HOME) – Funded under Title II of the National Affordable Housing Act of 1990.

Homeownership Opportunity Program – A housing program administered by NRHA that offers low income housing to qualified individuals under a program of ‘rent with option to buy.

Hope VI – A grant to assist Public Housing Authority’s in improving the living environment for public housing resident of severely distressed public housing projects through the demolition, rehabilitation, reconfiguration, or replacement of obsolete public housing projects.

Housing Assistance Payments (HAP) - That portion of rent subsidize by the Section 8 program for eligible households in the private sector.

Housing Choice Voucher – A program administered by public housing agencies in which eligible families are allowed to choose any housing that meets the requirements of the program and the rent is subsidized by the housing authority based on fair market rent.

Housing Choice Voucher (SRO-Single Room Occupancy) - A program which allows the Housing Authority to assist homeless participants in obtaining housing in a single room occupancy facility.

Improvements – The necessary changes to a parcel(s) of land that is required for this future development. These often include modifications of the roadways, water and sewer mains, and the parcel capacity.

Income – A term used in proprietary fund-types accounting to represent, (1) revenues or (2) the excess of revenues over expenses.

Indirect Cost – A cost that is not directly related to the production of a specific, good or service, but that is indirectly related to a variety of goods or services.

Infrastructure – Public improvements which support development, including street lights,


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sewers, flood control facilities, water lines, gas lines, telephone lines, etc.

Interest Expense – The cost of borrowing funds in the current fiscal year.

Interest Income - Income generated from investments.

Internal Control – A process, affected by the management and other personnel of an entity, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: (i) effectiveness and efficiency of operations and programs (ii) reliability of information and financial reporting, and (iii) compliance with applicable laws and regulations.

Internal Service Funds – Internal Service Funds provides a means to account for the financing of goods or services provided by one department to other departments within the Authority on a cost-reimbursement basis.

Inter-project fee for services – A monetary charge billed to one project’s account for a service that has been provided by another project.

Inter-project Transfers – Monies transferred from one fund to another. These transfers may finance the operations or another fund or to reimburse the fund for certain expenditures.

Investment – The outlay of money, usually for income or profit.

Leverage – refers to the use of debt to supplement investment

Line-Item Budget – A budget that lists each expenditure category (Administrative salaries, Fringe Benefits, etc.) separately, along with the dollar amount budgeted for each specified category.

Local Development Fund (LDF) – This fund is used as working capital to support development efforts. Advances are made from this fund when shortfalls occur in the CDBG and CIP funding sources by the City of Norfolk.

Long-Term Debt – Debt with a maturity of more than one year after the date of issuance.

Low Income Housing – Encompasses the revenues and expenditures of the Authority’s federally aided housing projects, the

Comprehensive Improvement Assistance Program, and the Comprehensive Grant Program.

Low Income Public Housing (LIPH) – refers to residencies for individuals or families with low annual household income. The purpose of low income housing is to provide places for people to live at a reasonable cost for them to afford.

Low Income Residents – Families (or single persons) whose income does not exceed 80percent of the median income for the area.

Low Rent Housing Program – This program is conventional public housing whereby the Federal Governmental provides the funds to acquire or build housing for low-income people. The Authority owns and operates the units.

Maintenance – The activities that provide routine care and upkeep of NRHA’s housing projects. These expenditures include, labor, materials, supplies, contracts and equipment used in connection with routine maintenance.

Management Fee Project - Asset management and bookkeeping fees received for services rendered for privately managed properties.

Management Fees (Internal Projects) – Groups amounts tendered to cover services that may not be directly identifiable with the programs benefited i.e. executive office staffing and office administration, bookkeeping, asset management oversight, maintaining computer infrastructure, image management, preparing for audits.

Management Improvement Cost – Cost to implement programs to increase the Authority’s efficiency, reduce waste, increase the safety and security of the residents, and afford the residents the opportunity to break generation of poverty.

Mandated – A requirement, usually by Federal law.

Mission Statement – A mission statement outlines what the organization, department or program is now. It focuses on today; it identifies the customer(s); it identifies the critical processes; and it states the level of performance.

Mixed-Finance – Refers to the combination of public housing funds with other government and private funds to develop low income and public


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housing authorized to public housing authorities by 24CFR 941.

Mixed-Income – Refers to a resident mix that includes families with various incomes levels within one development. Mixed incomes developments combine public housing families with other residents in order to decrease the economic and social isolation of these families.

Modernization (Public Housing) – The process of upgrading public housing developments when the local housing authority and HUD deem that the physical condition, location, and outmoded management policies in specific developments adversely affect the quality of living of the tenants.

Money Follows the Person (MFP) – Helps people transition from an institution such as a nursing facility, to community living in an apartment, private home or small group setting.

NOW (Come Home to Norfolk Now) - is designed to encourage and maximize investment in Norfolk’s neighborhoods and to spread the word about the breadth and quality of the city’s housing. Specifically, the initiative is about strengthening neighborhoods, broadening the housing market through new housing and rehabilitation, creating new programs and providing financial incentives for home ownership and improvements.

NRHA Homebuyer Assistance – This affordable housing initiative provides assistance to those who may not be able to realize the opportunity of homeownership on their own. NRHA makes the homeownership opportunity available to those who are low and moderate income.

Neighborhood Stabilization Program (NSP) – Established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment, the NSP provides for the purchase and redevelopment of foreclosed and abandoned homes and residential properties.

Net Assets – The difference between assets and liabilities.

Net Income – The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses).

Net Operating Income (NOI) – A company's operating income after operating expenses are

deducted, but before income taxes and interest are deducted. If this is a positive value, it is referred to as net operating income, while a negative value is called a net operating loss (NOL).

New Loans – An initial financial transaction in which one party (the lender) agrees to give another party (the borrower) a specific amount of money with the expectation of total repayment. The specific terms of the new loan are often spelled out in the form of a promissory note or other contract.

Non-expendable – Property which has a continuing use, is not consumed in use, is of a durable nature with an expended service life of one or more years, and has an acquisition cost of $500 or more.

Non-Operating Expenses – The cost of services that are not directly attributable to a specific program or operation. An example would be debt service obligations.

Non-Operating Revenues – The income received that is not directly attributable to providing a service. An example would be interest on cash in banks or investments.

Objective – Something to be accomplished in specific, well defined, and measurable terms and is achievable within a specific time frame.

Operating Budget – is the portion of the budget which pertains to daily operations. The operation budget appropriates for such expenditures as personal, supplies, utilities, materials, travels and fuel.

Operating Income – The excess of operating revenues over operating expenses.

Operating Receipts – Refers to all rents, revenues, income, and receipts accruing from, out of, or in connection with the ownership or operation of a project or program.

Operating Revenue – Fund revenues that are directly related to the fund’s primary service activities. These revenues consist primarily of user charges for services.

Operating Subsidy - Subsidy paid by the federal government to a local housing authority to compensate for the limitation on rent of 30% of a tenant's adjusted monthly income; a result of the Housing and Urban Development Act of 1970.


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The operating subsidy funds-the amount of the deficit between rents and expenses up to the difference between the annual contributions paid the authority by the federal government.

Operating Transfers – Legally authorized transfers from a fund receiving revenue to the fund through which the resources are to be expended.

Organizational Structure – The offices, divisions, branches, etc. established within an entity based on responsibility whether functional or program related.

Other Administration – Expenses for which no specific account is prescribed, such as office supplies, stationary, postage and the like.

Other Fees for Service (Internal Projects) – are tendered for program identifiable, direct use of COCC provided services i.e. rent base on office square footage, charge for actual time and material spent on maintenance job, pc software licensing fees.

Other Financing Sources - A category of revenues, which include long-term debt proceeds, proceeds from the sale of general fixed assets, and operating transfer in.

Other Financing Uses – A category of appropriations, which include fund operating transfers- out and the amount of refunding bond proceeds deposited with the escrow agent.

Other Income - Income resulting from circumstances that do not occur during the normal course of operation.

Other Operating Expenses – Fund expenses that are directly related to the fund’s primary service activities.

Parcel – A lot or tract of land.

Pay-as-you-go – A financial policy by which capital outlays are financed from current revenues rather than through borrowing.

Per Unit Month (PUM) – Average monthly income and/or expense for each unit of housing operated.

Performance Budget – A budget that focuses on activities rather than line items. Workload and

unit cost data are collected in order to assess efficiency of services.

Performance Funding System – Formula used to calculate the amount of operation subsidies required by each public hosing authority to operate its public housing units.

Performance Indicators – Specific quantitative measure of work performed as an objective of the department.

Position – The aggregate of duties and responsibilities performed by one person. A position may be regular or temporary, occupied or vacant.

Preventive Maintenance - The maintenance action taken, on the basis of regular methodical inspections, to avoid or minimize costly measures at some future time.

Principal Payment on Debt – The annual repayment of the principal portion of long-term debt.

Proceeds from Notes, Loans and Bonds – Amounts received as a result of borrowing funds using a note payable, entering into a loan agreement and/or from the issuance of bonds.

Proceeds from Sale of Property - Amounts received as a result of a sale of fixed assets.

Program Budget – A budget that focuses on choices and information in terms of purpose and related activities rather than the organizational units, or object classes of expenditure.

Program Delivery – See Administration, allocations and fringe benefits. Labor and fringe associated with direct program activities.

Program Delivery Costs – Staff and overhead costs directly related to carrying out activities eligible under the CDBG program.

Program Fund Types – The classification used to account for the Authority’s ongoing in the private sector. All assets, liabilities, equities, revenues, expenses and transfers relating to the government’s business act.

Project Area – The area that is designated in the redevelopment plan for redevelopment and revitalization.


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Project Units – All dwelling units within a defined project’s area.

Proprietary Fund Types – The classification used to account for the Authority’s ongoing activities that are similar to those often found in the private sector. All assets, liabilities, equities, revenues, expenses and transfers relating to the government’s business activities are accounted for through proprietary funds. The Generally Accepted Accounting Principles used are generally those applicable to similar business in the private sector and the measurement focus is on determination of net income, financial position and changes in financial position.

Protective Services – Expenditures for services relating to providing protective services to the projects and tenants of NRHA.

Public Housing (PH) - Housing assisted under the provisions of the U.S. Housing Act of 1937 or under a state or local program having the same general purposes as the federal program. Distinguished from privately financed housing, regardless of whether federal subsidies or mortgage insurance are features of such housing development

Public Housing Agency (PHA) - Any state, county, municipality, or other governmental entity or public body (or agency or instrumentality thereof) which is authorized to engage in or assist in the development and operation of low-income housing.

Public Housing Assessment System (PHAS) – A system which measures the performance of a public housing agency

Public Housing Development – Represents funding under the Family Self Sufficiency Program.

Public Housing Management Assessment Program (PHMAP) – Implements section 502 (a) of the National Affordable Housing Act of 1990 (NAHA) and evaluates the performance of public housing agencies (PHAs) in major areas of management operations. PHMAP provides an objective system of measuring PHA performance using standard criteria for all PHAs.

Public & Indian Housing Information Center (PIC) – A system that provides for the timely and

accurate submission of information from housing authorities to HUD.

PRIDE – NRHA’s recently established purchase/renovation program whose goal is to acquire houses in good condition which is offered to developers for comprehensive renovation and resale.

Rental Assistance Demonstration (RAD) - Is a HUD program that allows the conversion of properties from conventional public housing support under Section 9, with traditional capital fund subsidies and operating fund subsidies, to Project based Section 8 program with a Housing Assistance Payment (HAP) contract.

Real Estate Assessment Center (REAC) – is the agency responsible for providing accurate, credible and reliable assessments of HUD’s real estate portfolio.

Redevelopment – Planning, development, re-planning, redesign, clearance, reconstruction, or rehabilitation of all or part of a project area.

Redevelopment Agency – The governing body created to designate redevelopment project areas, supervise and coordinate for a project area and implement the development program.

Redevelopment Plan – Plan for revitalization and redevelopment of land within the project area in order to eliminate blight and the conditions which caused it.

Rehabilitation – To modify an existing structure through improvements that correct any code violations involving health and safety issues.

Rehabilitation Reserve Account– Section 203(k) program is HUD’s primary program for the rehabilitation and repair of single family properties. Housing agencies have designed programs, specifically for use with Section 203(k) and some lenders have also used the expertise of local housing agencies and nonprofit organizations to help manage the rehabilitation processing.

Relocation – The effort to assist and facilitate re-housing of families, individuals, businesses or organizations displaced due to redevelopment activities.


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Relocation Assistance – Relocation payments provide assistance to families, individuals, businesses and non-profit organizations displaced as a result of redevelopment activities.

Reserve – An account used to indicate that a portion of a Fund’s balance is restricted for a specific purpose.

Reserves or appropriations –Cash balances on hand accumulated from prior years operations, consisting of recaptured capital costs through depreciation or the provision of COCC working..

Resident Services - Expenditures for services provided for resident families that contribute to achieving the social objectives of the low-income housing program including community agency referrals on family welfare, health, job training, placement and counseling.

Residual Receipts – The amount by which operating receipts exceeds allowable operating reserves.

Restricted Funds – Funds that may only be used for certain purposes.

Retained Earnings – An equity account reflecting the accumulated earnings of an Enterprise or Internal Service Fund

Revenue – Funds the government receives as income. It includes such items as receipts from other government, grants, shared revenues and interest income.

Revenue Bonds – Bonds usually sold by governments for constructing projects that will produce revenue pledged to pay the principal and interest of the bond.

Revised Budget – The Adopted Budget as amended by the Board of Commissioners to show compatibility as a result of shifts in programmatic or functional responsibilities. It is also a procedure utilized to revise established budgets to meet inter-departmental or inter-fund adjustments.

Risk Management – An organized attempt to protect a government’s assets against accidental loss in the most economical method.

Section 202 – Section 202 mandates demolition of certain “distressed” developments that cannot be revitalized for less than the cost of vouchers. Under Section 202, demolition is required when

the monthly per unit cost to renovate and maintain any contiguous property with more than 300 units and with a vacancy rate in excess of 10 percent exceeds the monthly cost of housing.

Section 3 – The purpose of Section 3 of the Housing and Urban Development Act of 1968, as amended by Section 915 of the Housing and Community Development Act of 1992 is to “ensure that employment and other economic opportunities generated by certain HUD financial assistance shall, to the greatest extent feasible, and consistent with existing Federal, State, and local laws and regulations, be directed toward low and very low income persons, particularly those who are recipient of government assistance for housing, and to business concerns with provides economic opportunities to low and very low-income persons.”

Section 3 Resident – A public housing resident or an individual who resides in the metropolitan area or non-metropolitan Country in which the section covered assistance is expended.

Section 8 Exiting Certificates – A type of assistance provided in the Section 8 Program.

Section 8 Housing Vouchers – A type of assistance provided to low-income persons/families.

Section 8 (HCV) Program – A federal housing program which subsidizes the rent of eligible households in the private market. The government makes Housing Assistance Payments to private landlords for the difference between fair market rent and what the family can afford to pay.

Site Improvements – Activities performed on a site that prepares it for its intended use. For example, site clearance, drainage, grading, sidewalks, landscaping, street and alleys, curbs and gutters, fencing and exterior lighting.

Small and Disadvantaged Business Unit (SADBU) – The office in most government agencies which is responsible for assisting small and disadvantaged businesses with obtaining government contracts.

Soft Cost - Non “brick and mortar” cost incurred in the development of a project, including third party expenses such as design and legal fees,


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taxes, insurance, construction loan debt service, developer overhead and profit, etc.

Sources of Revenue – Revenues are classified according to their source, or point of origin.

Special City Projects – Accounts for revenues received from the City of Norfolk and the expenditures incurred for specific capital improvement projects. These projects are identified by the City of Norfolk.

Special Revenue Funds – Special Revenue Funds account for resources earmarked for specific purposes by law or contractual provisions. Expenditures include those for low-income housing, administration and capital outlay; in addition, various grants are accounted for in this fund type in accordance with the respective grant provisions.

Statement of Changes in Financial Position – The basic financial statement which presents information on the amount of the sources and uses of an entity’s working capital during an accounting period.

Strategic Direction Setting Team – A committee formed from four departments within the Executive Office reviewing the Strategic Plan and identifying key projects to set direction for NRHA.

Subsidy/Grants Admin - Funding from Federal, State and Local governments received in the current fiscal year to cover operating cost.

Subsidy/Grants Program - Funding from Federal, State and Local governments usually for a specific purpose and time period that are limited to defined projects or activities.

Surplus – Unspent funds at the end of the year.

Survey & Planning – The process of ascertaining the area dimensions and location of a piece of land and the long term development of a piece of land, such as land use, housing, and conservation.

Tax Credit Residential Services - Housing supportive services provided to Grandy Revitalization and Franklin Arms residents above and beyond the tax credit agreement.

Tax-Exempt Securities – An obligation whose interest is tax exempt.

Tenant-Bases Rental Assistance (TBRA) –Is a rental subsidy that helps individual households afford housing costs such as rent, utility costs, security deposits, and/or utility deposits.

Tranche – One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics.

Turn Unit – Refers to the turn over of a unit from one resident to another and the effort involved in making a unit ready for a new resident after the previous resident moves out.

Unencumbered Balance – Refers to the amount of funds still available for future purposes.

Unrestricted Funds – No restrictions on the use of current operating funds from the general funds

Urban Design - Supports urban design and site planning for neighborhood revitalization activities, as well as funding for third-party urban design services.

Urban Renewal – Accounts for the revenues and expenditures related to projects developed under the Urban renewal Program within certain targeted redevelopment and conservation areas located in the City of Norfolk.

Utilities – Water, electricity, gas and fuel.

VIDA - The Virginia Individual Development Account (VIDA) savings program provides eligible, low-income individuals with a savings match of two dollars to every one dollar saved. The savings can be used to purchase a home, start a business, or finance post-secondary education.

Very Low-Income Persons – Families (or single persons) whose incomes do not exceed 50 percent of the median income for the area.

Virginia Retirement System (VRS) – administers a defined benefit plan, a group life insurance plan, a deferred compensation plan and a cash match plan for Virginia's public sector employees, as well as an optional retirement plan for selected employees and the Virginia Sickness and Disability Program for state employees.

Vision Statement - Outlines what an organization, department or program wants to be. It focuses on tomorrow; it is inspirational; it


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provides clear decision-making criteria; and it is timeless.

Working Capital – The excess of current assets over current liabilities, and is used to indicate the relative liquidity of an enterprise or internal service fund.

Year-to-Date (YTD) – A total of all activity from the first day of the calendar year to the date the information was last updated.


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Acronyms

A AAF Annual Adjustment Factor ACC Annual Contributions Contracts ADA Americans with Disabilities Act ADDI American Dream Down-Payment

Initiative AFG Assistance to Firefighter’s Grant AMI Area Median Income AMP Asset Management Project A/P Accounts Payable A/R Accounts Receivable ARRA American Recovery & Reinvestment Act

B BOC Board of Commissioners C CAP Corrective Action Plan CD Community Development CDBG Community Development Block Grant CDO Chief Development Officer CEO Chief Executive Officer CEP Public Housing Capital Fund Program CFO Chief Financial Officer CFP Capital Fund Program CFR Code of Federal Regulations CGP Comprehensive Grant Program CHDO Community Housing Development Organization CHO Chief Housing Officer CHP Community Housing Program CHRO Chief Housing Reinvention Officer CIP Capital Improvement Program CIP-I Capital Improvement Program –

Independent Projects CIP-N Capital Improvement Program -

Neighborhoods COCC Central Office Cost Centers CSS Community Support Services CY Calendar Year

D DIG Development Incentive Grant DHS Department of Homeland Security

E ED Executive Director EIV Enterprise Income Verification EOV East Ocean View ET Executive Team F FEMA Federal Emergency Management Agency FIC Family Investment Center FICA Federal Insurance Contribution Act FLSA Fair Labor Standards Act FMR Fair Market Rent FP&S Fire Prevention and Safety Grant FSS Family Self-Sufficiency FY Fiscal Year FYTD Fiscal Year-to-Date

G GAAP Generally Accepted Accounting Principles GASB Government Accounting Standards Board GF General Fund H HAP Housing Assistance Payments HCV Housing Choice Voucher HOME Home Investment Partnership Program HR Human Resources HRT Hampton Roads Transit HQS Housing Quality Standards HUD U.S. Department of Housing and Urban Development HVAC Heating, Ventilation & Air Conditioning


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I IREM Institute for Real Estate Management

IT Information Technology

J JARC Job Access and Reverse Commute Program

L LDF Local Development Fund LIHTC Low Income Housing Tax Credit LIPH Low Income Public Housing

M MBE Refers to Minority Business Enterprise MCA Mission College Apartments MFP Money Follows the Person MWBE Minority and Women Business Enterprise MY Multi-Year

N NAHRO National Association of Housing and Redevelopment Officials NCCCC Norfolk Community College

Corporation NEO New Employee Orientation NOI Net Operating Income NOW Come Home to Norfolk, Now NRHA Norfolk Redevelopment and Housing Authority NSP Neighborhood Stabilization Program

O ODU Old Dominion University

P PFS Performance Funding System PH Public Housing PHA Public Housing Agency PHFSS Public Housing Family Self Sufficiency PHAS Public Housing Assessment System

PILOT Payment In Lieu of Taxes PHMAP Public Housing Management Assessment Program PIC Public & Indian Housing Information Center PILOT Payment in Lieu of Taxes PRIDE Purchase Renovation PUM Per Unit Month

R RAD Rental Assistance Demonstration REAC Real Estate Assessment Center RERA Rehabilitation Reserve Account RFP Request for Purchase ROSS Resident Opportunities and Self Sufficiency

S SADBU Small and Disadvantaged Business

Utilization SEMAP Section Eight (8) Management Assessment Program SPARC Sponsoring Partnerships and Revitalizing Communities SRO Single Room Occupancy

T TBRA Tenant-Based Rental Assistance TDHE Tribally-Designated Housing Entity TOAP Temporary Operation of Acquired Property TOT Total

V VHDA Virginia Housing Development

Authority VMS Voucher Management System VRS Virginia Retirement System

Y YTD Year- To-Date


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fy2017 approved budget promoting approved budget.pdf · central office cost center narrative 1-4...

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