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File #:
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25-4954
Version:
1
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Name:
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Type:
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Consent Item
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Status:
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Agenda Ready
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On agenda:
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12/9/2025
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Final action:
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Title:
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ACCEPT the Unaudited Housing Authority Budget Report for the quarter ending September 30, 2025.
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To: Contra Costa County Housing Authority Board of Commissioners
From: Joseph Villarreal, Executive Director
Report Title: Unaudited Budget Report for Quarter Ending 9/30/25
☐Recommendation of the County Administrator ☐ Recommendation of Board Committee
RECOMMENDATIONS:
ACCEPT the Unaudited Budget Report for Quarter Ending 9/30/25.
BACKGROUND:
This report is intended to provide the Board of Commissioners with an overview of the financial operating position of the Housing Authority of the County of Contra Costa (HACCC) for the period 4/01/25 - 9/30/25. The report begins with a summary of HACCC’s overall fiscal standing as of 9/30/25. Revenue and expense levels are reviewed against budget expectations along with reserve levels. The agency’s four major program areas are presented, including a program description and an explanation of the variance between budgeted and actual performance.
AGENCY OVERVIEW: Budget Report
HACCC's overall budget position for the period 4/01/25 - 9/30/25 is shown below. Activity in the Housing Choice Voucher Program has the most significant impact on HACCC's overall budget.
The variance in operating revenue and expense at the Agency level is the total of all variances reported at the program levels. The variances by program are as follows:
Operating Revenue Variances
Housing Choice Vouchers favorable variance $ 934,789
Public Housing favorable variance 2,845,839
State and Local favorable variance 279,699
Housing Certificate unfavorable variance -52,495
Agency favorable variance $ 4,007,832
Net Operating Variances
Housing Choice Vouchers favorable variance $ 1,421,642
Public Housing favorable variance 2,675,063
State and Local favorable variance 549,197
Housing Certificate favorable variance 0
Agency favorable variance $ 4,645,901
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HACCC Agency Summary |
Annual Budget |
YTD Budget thru 9/30/25 |
YTD Actual thru 9/30/25 (Unaudited) |
Variance |
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Operating Revenue |
$ 42,661,348 |
$ 21,330,674 |
$ 25,338,506 |
$ 4,007,832 |
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Operating Expense |
$ 43,753,691 |
$ 21,876,846 |
$ 21,238,777 |
$ -638,069 |
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Net Operating |
$ -1,092,343 |
$ -546,171 |
$ 4,099,730 |
$ 4,645,901 |
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Non-Operating Revenue |
$ 223,672,017 |
$ 111,836,009 |
$ 113,752,867 |
$ 1,916,858 |
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Non-Operating Expense |
$ 226,299,852 |
$ 113,149,926 |
$ 115,376,265 |
$ 2,226,339 |
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Net to Reserves |
$ -3,720,178 |
$ -1,860,089 |
$ 2,476,331 |
$ 4,336,420 |
The summary of Agency Reserves by Program and type is as follows:
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Analysis of Agency Reserves |
Beginning Balance at 4/01/25 (Audited) |
Net Change 4/01/25 - 9/30/25 (Unaudited) |
Ending Balance at 9/30/25 (Unaudited) |
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Total Reserves |
$ 31,013,716 |
$ 5,023,608 |
$ 36,037,324 |
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Net Invested in Capital Assets |
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Housing Choice Vouchers |
$ 2,945,886 |
$ 470,402 |
$ 3,416,288 |
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Public Housing & Cap. Funds |
$ 11,436,379 |
$ 1,835,021 |
$ 13,271,400 |
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State & Local Programs |
$ 2,968,752 |
$ 241,854 |
$ 3,210,606 |
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Housing Certificates Programs |
$ 0 |
$ 0 |
$ 0 |
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Total Capital Assets |
$ 17,351,017 |
$ 2,547,277 |
$ 19,898,293 |
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Restricted Reserves |
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Housing Choice Vouchers |
$ 35,933 |
$ -454,775 |
$ -418,842 |
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Public Housing & Cap. Funds |
$ 0 |
$ 0 |
$ 0 |
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State & Local Programs |
$ 3,249,330 |
$ -193,595 |
$ 3,055,736 |
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Housing Certificates Programs |
$ 0 |
$ 0 |
$ 0 |
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Total Restricted Reserves |
$ 3,285,263 |
$ -648,369 |
$ 2,636,894 |
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Actuarial Reserves |
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Housing Choice Vouchers |
$ -6,077,244 |
$ 0 |
$ -6,077,244 |
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Public Housing & Cap. Funds |
$ -3,500,118 |
$ 0 |
$ -3,500,118 |
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State & Local Programs |
$ -2,309,444 |
$ 0 |
$ -2,309,444 |
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Housing Certificates Programs |
$ 0 |
$ 0 |
$ 0 |
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Total Actuarial Reserves |
$ -11,886,806 |
$ 0 |
$ -11,886,806 |
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Unrestricted Reserves |
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Housing Choice Vouchers |
$ 9,536,401 |
$ 336,268 |
$ 9,872,668 |
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Public Housing & Cap. Funds |
$ 3,212,415 |
$ 1,730,542 |
$ 4,942,956 |
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State & Local Programs |
$ 9,515,426 |
$ 1,057,891 |
$ 10,573,317 |
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Housing Certificates Programs |
$ 0 |
$ 0 |
$ 0 |
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Total Unrestricted Reserves |
$ 22,264,242 |
$ 3,124,700 |
$ 25,388,942 |
MAJOR PROGRAM AREAS:
Housing Choice Voucher Programs
Program Description - The Housing Choice Voucher (HCV) program and two related ones tracked in this budget item, provide housing assistance to families in the private rental market. HACCC qualifies families for these programs based on income. These families find a home in the private rental market on their own and HACCC provides them with a subsidy via a housing assistance payment (HAP) contract with the property owner. HAP (the subsidy) is paid by HACCC directly to the owner. Through these programs, HACCC provides affordable housing assistance to 9,246 households. Through the main HCV program, HACCC is approved to house as many as 9,575 households. However, due to rents that are rising faster than the provided grant from the federal government, HACCC houses 8,882 households in the HCV Program. Additionally, HACCC provides housing to 199 households in the Mainstream Voucher Program (targeted to non-elderly persons with disabilities), and 165 households through the Emergency Housing Voucher Program (targeted to households who are homeless, at risk of homelessness, or fleeing violence). Of the HCV program households, 196 are also enrolled in the Family Self-Sufficiency Program. Non-operating revenues are primarily Housing Assistance Funding. Non-operating activities primarily Housing Assistance Payments and capital additions.
Summary of Budgeted and Actual results:
Operating Revenue - The $934,789 operating revenue difference is primarily a result of higher federal program administrative funding received in the period than budgeted.
Operating Expense - The $486,852 operating expense difference is primarily a result of lower administrative labor expense than budgeted due to vacant positions.
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Housing Choice Voucher Programs |
Annual Budget |
YTD Budget thru 9/30/25 |
YTD Actual thru 9/30/25 (Unaudited) |
Variance |
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Operating Revenue |
$ 15,708,415 |
$ 7,854,208 |
$ 8,788,997 |
$ 934,789 |
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Operating Expense |
$ 16,938,360 |
$ 8,469,180 |
$ 7,982,328 |
$ -486,852 |
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Net Operating |
$ -1,229,945 |
$ -614,973 |
$ 806,669 |
$ 1,421,642 |
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Non-Operating Revenue |
$ 214,024,904 |
$ 107,012,452 |
$ 108,803,499 |
$ 1,791,047 |
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Non-Operating Expense |
$ 215,918,769 |
$ 107,959,384 |
$ 109,728,675 |
$ 1,769,291 |
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Net to Reserves |
$ -3,123,810 |
$ -1,561,905 |
$ -118,507 |
$ 1,443,398 |
Analysis of Program Reserves:
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Housing Choice Voucher Programs |
Beginning Balance at 4/01/25 (Audited) |
Net Change 4/01/25 - 9/30/25 (Unaudited) |
Ending Balance at 9/30/25 (Unaudited) |
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Net Invested in Capital Assets |
$ 2,945,886 |
$ 470,402 |
$ 3,416,288 |
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Restricted Reserves |
$ 35,933 |
$ -454,775 |
$ -418,842 |
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Actuarial Reserves |
$ -6,077,244 |
$ 0 |
$ -6,077,244 |
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Unrestricted Reserves |
$ 9,536,401 |
$ 336,268 |
$ 9,872,668 |
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Total Reserves |
$ 6,440,976 |
$ 351,895 |
$ 6,792,871 |
Public Housing Operating and Capital Funds
Program Description - HACCC owns and manages 983 public housing units at 13 different sites throughout the County. The Agency disposed of roughly 196 units on 3 sites in the N. Richmond area. The Operating funds for all properties come from tenant rents as well as an operating subsidy received from HUD that is designed to cover the gap between rents collected from the low-income tenants and annual operating expenses. HUD allocates the Capital Fund annually via formula to approximately 3,200 housing authorities. Capital Fund grants may be used for development, financing, modernization, and management improvements within public housing. Non-operating activities primarily consist of these capital additions.
Summary of Budgeted and Actual results:
Operating Revenue - The $2,845,839 operating revenue difference is primarily a result of higher federal program administrative funding received than budgeted. $2,344,355 of this was additional Public Housing Shortfall Funding.
Operating Expense - The $170,776 operating expense difference is primarily a result of higher public housing dwelling and land maintenance costs than budgeted.
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Public Housing Operating and Capital Fund |
Annual Budget |
YTD Budget thru 9/30/25 |
YTD Actual thru 9/30/25 (Unaudited) |
Variance |
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Operating Revenue |
$ 14,205,373 |
$ 7,102,686 |
$ 9,948,525 |
$ 2,845,839 |
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Operating Expense |
$ 16,094,414 |
$ 8,047,207 |
$ 8,217,983 |
$ 170,776 |
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Net Operating |
$ -1,889,041 |
$ -944,521 |
$ 1,730,542 |
$ 2,675,063 |
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Non-Operating Revenue |
$ 2,346,893 |
$ 1,173,446 |
$ 1,835,021 |
$ 661,574 |
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Non-Operating Expense |
$ 2,346,893 |
$ 1,173,446 |
$ 1,835,021 |
$ 661,574 |
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Net to Reserves |
$ -1,889,041 |
$ -944,521 |
$ 1,730,542 |
$ 2,675,063 |
Analysis of Program Reserves:
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Public Housing & Capital Fund |
Beginning Balance at 4/01/25 (Audited) |
Net Change 4/01/25 - 9/30/25 (Unaudited) |
Ending Balance at 9/30/25 (Unaudited) |
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Net Invested in Capital Assets |
$ 11,436,379 |
$ 1,835,021 |
$ 13,271,400 |
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Restricted Reserves |
$ 0 |
$ 0 |
$ 0 |
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Actuarial Reserves |
$ -3,500,118 |
$ 0 |
$ -3,500,118 |
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Unrestricted Reserves |
$ 3,212,415 |
$ 1,730,542 |
$ 4,942,956 |
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Total Reserves |
$ 11,148,676 |
$ 3,565,563 |
$ 14,714,239 |
State and Local Programs
Program Description - HACCC administers a variety of programs and activities that are either not funded by HUD or that involve non-restricted HUD funds. Currently, HACCC is the managing general partner for two tax credit projects (DeAnza Gardens & Casa Del Rio). HACCC receives management fees for administering the Public Housing and HCV programs under HUD’s asset-management model. Non-operating activities primarily consist of capital additions.
Summary of Budgeted and Actual results:
Operating Revenue - The $279,699 difference in operating revenue is primarily the result of higher internal administrative fee revenue earned by our Central Administration Office than budgeted.
Operating Expense - The $269,497 difference in operating expense is primarily the result of lower administrative labor expense incurred by our Central Administration Office than budgeted.
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State & Local Programs |
Annual Budget |
YTD Budget thru 9/30/25 |
YTD Actual thru 9/30/25 (Unaudited) |
Variance |
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Operating Revenue |
$ 11,912,038 |
$ 5,956,019 |
$ 6,235,718 |
$ 279,699 |
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Operating Expense |
$ 9,885,394 |
$ 4,942,697 |
$ 4,673,200 |
$ -269,497 |
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Net Operating |
$ 2,026,644 |
$ 1,013,322 |
$ 1,562,519 |
$ 549,197 |
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Non-Operating Revenue |
$ 0 |
$ 0 |
$ 0 |
$ 0 |
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Non-Operating Expense |
$ 733,970 |
$ 366,985 |
$ 698,222 |
$ 331,237 |
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Net to Reserves |
$ 1,292,674 |
$ 646,337 |
$ 864,296 |
$ 217,959 |
Analysis of Program Reserves:
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State & Local Programs |
Beginning Balance at 4/01/25 (Audited) |
Net Change 4/01/25 - 9/30/25 (Unaudited) |
Ending Balance at 9/30/25 (Unaudited) |
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Net Invested in Capital Assets |
$ 2,968,752 |
$ 241,854 |
$ 3,210,606 |
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Restricted Reserves |
$ 3,249,330 |
$ -193,595 |
$ 3,055,736 |
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Actuarial Reserves |
$ -2,309,444 |
$ 0 |
$ -2,309,444 |
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Unrestricted Reserves |
$ 9,515,426 |
$ 1,057,891 |
$ 10,573,317 |
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Total Reserves |
$ 13,424,064 |
$ 1,106,150 |
$ 14,530,215 |
Housing Certificate Programs
Program Description - HACCC administers a Housing Certificate Program tied to the Continuum of Care Program (formerly known as Shelter Plus Care). The Continuum of Care Program provides rental assistance for hard-to-serve homeless persons with disabilities in connection with supportive services funded from sources outside the program. HACCC assists approximately 241 households under this program. Non-operating activities primarily consist of Housing Assistance Payments.
Summary of Budgeted and Actual results:
Operating Revenue - For Continuum of Care, revenue is earned by incurring eligible expenses.
Operating Expense - The $52,495 operating expense difference is primarily a result of lower administrative labor expense than budgeted.
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Housing Certificate Programs |
Annual Budget |
YTD Budget thru 9/30/25 |
YTD Actual thru 9/30/25 (Unaudited) |
Variance |
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Operating Revenue |
$ 835,523 |
$ 417,761 |
$ 365,266 |
$ -52,495 |
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Operating Expense |
$ 835,523 |
$ 417,761 |
$ 365,266 |
$ -52,495 |
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Net Operating |
$ 0 |
$ 0 |
$ 0 |
$ 0 |
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Non-Operating Revenue |
$ 7,300,221 |
$ 3,650,110 |
$ 3,114,347 |
$ -535,763 |
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Non-Operating Expense |
$ 7,300,221 |
$ 3,650,110 |
$ 3,114,347 |
$ -535,763 |
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Net to Reserves |
$ 0 |
$ 0 |
$ 0 |
$ 0 |
Analysis of Program Reserves:
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Housing Certificate Programs |
Beginning Balance at 4/01/25 (Audited) |
Net Change 4/01/25 - 9/30/25 (Unaudited) |
Ending Balance at 9/30/25 (Unaudited) |
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Net Invested in Capital Assets |
$ 0 |
$ 0 |
$ 0 |
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Restricted Reserves |
$ 0 |
$ 0 |
$ 0 |
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Actuarial Reserves |
$ 0 |
$ 0 |
$ 0 |
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Unrestricted Reserves |
$ 0 |
$ 0 |
$ 0 |
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Total Reserves |
$ 0 |
$ 0 |
$ 0 |
FISCAL IMPACT:
None. Information item only.
CONSEQUENCE OF NEGATIVE ACTION:
None. Information item only.
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