Housing authority board discusses budget surplus

The executive director of the Ville Platte Housing Authority, Grant Soileau, told the housing authority board, during a board meeting Tuesday, he has been informed by the auditor -- which specializes in housing authority auditing -- that the U.S. Department of Housing and Urban Development (HUD), has reduced subsidies to housing authorities that run up large surpluses.
Soileau said the housing authority has a cash availability that will soon reach $700,000 and advised the housing authority board to reduce the amount of surplus cash to avoid any reduction in HUD funding.
The housing authority also discussed the auditor’s finding that capital funds were not transferred in a timely manner.
However, the auditors noted that the housing authority is developing procedures “to minimize the time elapsing between the drawdown” of the capital funds “and the disburzement of those funds.”
In a letter dated December 1, the auditors, The Vercher Group of Jena, which produced the report on the housing authority’s finances for the fiscal year ending June 30, found the housing authority “operated within their budgetary constraints and ended the year with an operating surplus.”
A letter accompanying the audit report concluded the auditor’s “opinion on the financial sttements... is the highest and best report that can be issued by the auditor.”
In other business, the board voted to require the board to approve of any expenditures to vendors in excess of $2,500.
The housing authority board members also discussed the vacancy of three three-bedroom housing units. There are no people on the housing authority’s waiting list for three-bedroom units.