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Appropriation Adjustments for Housing Choice and Mainstream Voucher Programs <br />June 4, 2024 <br />Page 2 <br />experiencing homelessness with a disabled household member. With funding provided <br />by HUD for the MS5 programs, SAHA provides housing assistance to over 150 <br />households. <br />Due to the rising costs of rent and housing assistance payments per family, the <br />budgeted amount for FY 2023-24 was insufficient to cover payments through the end of <br />the fiscal year. To ensure continued support for these families, staff is requesting <br />approval of an appropriation adjustment of $4,495,000 in HAP funds for the HCV <br />Program and $325,000 in HAP funds for the MS5 Program to pay for housing <br />assistance through the end of FY 2023-24. <br />This appropriation adjustment is not new or additional funding for the HCV or MS5 <br />Programs, but rather a recognition of funds that HUD holds in a reserve account until <br />SAHA is ready to draw down these funds for these vouchers. <br />FISCAL IMPACT <br />Approval of these two appropriation adjustments will recognize $4,495,000 in Housing <br />Assistance Payment HCV revenue account (no. 13618002-52000 Federal Grant -Direct) <br />and $325,000 in Housing Assistance Payment MS5 revenue account (no. 13818002- <br />52000 Federal Grant -Direct) and appropriate to the expenditure accounts below. <br />Fiscal Year <br />Accounting <br />Fund Description <br />Accounting Unit, <br />Amount <br />Unit -Account <br />Account Description <br />FY 2023-24 <br />13618760-various <br />Housing Authority- <br />Housing Authority <br />$4,495,000 <br />Voucher HAP <br />Voucher HAP, various <br />FY 2023-24 <br />13818760-69158 <br />Housing Authority- <br />Housing Authority -MS <br />$325,000 <br />MS 5 <br />5, Housing Assist Pmt. <br />Total Expenditures <br />$4,820,000 <br />Any remaining balances not expended at the end of the fiscal year will be presented to <br />the City Council for approval of carryover to FY 2024-25. <br />EXHIBIT(S) <br />1. Housing Choice Voucher Program Calendar Year 2023 Renewal Funding Allocation <br />2. Mainstream Vouchers Calendar Year 2023 Renewal Funding Allocation <br />Submitted By: Michael L. Garcia, Executive Director of Community Development <br />Approved By: Alvaro Nunez, Acting City Manager <br />