Trumbull Housing Authority
July 27, 2015
Community Room of Stern Village
Commissioners Present: Chairman Janice Kopchik; Commissioners Susan Fatse, Thelma Burr
Also present: Executive Director Harriet Polansky
Commissioners Absent: Linda Nassrah and Suzanne Donofrio
The meeting was called to order at 4:04 pm by Mrs. Kopchik. Roll call was conducted followed by the Pledge of Allegiance.
Past Minutes: Motion was made by Mrs. Kopchik to approve the minutes of June 29, 2015. Seconded by Mrs. Burr. Ms. Polansky noted two minor changes – on Page 2, #4 – sentence should read “Sandy is no longer intimidated to get information.” and on Page 9, under Congregate #6 – sentence should read “…food services in-house which started December 1, 2014.”. Minutes approved unanimously as amended.
Bob, a member of the Stern Village Revitalization and Rehabilitation Committee, commented that he wondered if Mr. Littlefield has anything good to say about Stern Village. He noted he is very proud to be a part of the revitalization and he sees the business side of it. He believes most of Stern Village is looking forward to the revitalization and the improvement of living. Harriet and Neil, as well as everyone else, are doing a great job. What is going on is wonderful and it is too bad there has to be resistance to it.
Mrs. Burr reported for the period ending June 30, 2015 that the cash position is healthy at the present time. The Village current cash position, including the cash reserve account, is approximately $1,102,000 and the Center’s is $131,000. All vendors have been paid currently, except for our PILOT payments for the current year, which total $21,882. In the Village there are five vacancies and the Center has none. There have been some capital expenditures this period. Some repairs were made to the kitchen equipment in the Congregate and new carpeting was installed in June. In the Village, additional ovens and refrigerators were purchased. There was also a major sewer problem and it was necessary to pay to have a camera go into the sewer line to see where the blockage was located. As of this date we have received our Fourth quarter payment from DOH for Stern Center.
Executive Director’s Report
Ms. Polansky reported they have a strong cash position. The overall cash position as of June 30, 2015 shows a balance of $1,233,533, including the investment account. As of June 30, 2015 Accounts Payable is approximately $46,408 including our PILOT accrual for the current year. For June, Stern Village had a loss of approximately $27,000 and Stern Center had an overall loss of approximately $20,300 mainly due to non-cash expenses or accrued compensation expenses. These non-cash expenses are vacations (which the State wants us to now document) including provision for repairs, maintenance & replacement, and vacancy loss (which have always been documented.) For last fiscal year, the non-cash expenses totaled $92,365; without these items we would have a gain of $71,928.
Income increased in the Village due to less vacancies and charging new rents.
Utilities, water, gas, electricity and Cable TV was higher than expected. Insurance rates increased. Maintenance supplies increased since they are fixing things without calling in contractors. Orkin was in several times for bed bug extermination. In-house food services decreased starting in December 2014. Legal fees were high last fiscal year due to dealing with the Labor Attorney on Union issues and FOIA complaints. There was some unforeseen vacancy loss in the Congregate. Repairs were also needed to the elevator, the internal doors and sprinkler system.
The Congregate is a separate financial entity and they rely on the Village to help fund them. In other words, the Congregate borrows money from the Village and pays us back.
Congregate – Rent remained the same for June 2014-June 2015
Services: $736 per congregant per month
Base rent: $350 per month
Currently the reserve balance is over $1,429,635 which is approximately $6,440 for each unit in the entire complex.
Ms. Polansky will be continuing to look at other projects to further improve the facility within the realm of affordability, need and security.
The State agencies are reviewing the funding for the Revitalization and Redevelopment of Stern Village and we should hear back from them the middle of August.
Mrs. Kopchik motioned to adjourn the meeting at 4:15 pm. Seconded by Mrs. Burr and approved unanimously.
These minutes are considered a draft until approved at the next meeting of the Trumbull Housing Authority.