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The LMIHAF does not have an Excess Surplus. (Refer to calculation below.)
<br />Fund Balance — June 30, 2016 $42,936,847
<br />Less Unavailable Amounts:
<br />Advance to private -purpose trust fund ( 532,601)
<br />Community development ( 39,549,196)
<br />Land held for resale ( 2,855,050)
<br />Available Low Income Housing Funds
<br />Limitation (Greater of $1,000,000 or Four Years Deposits):
<br />Aggregate amounts deposited for preceding four fiscal years
<br />2013-2014 1,496,182
<br />2014-2015 2,329,877
<br />2015-2016 312,837
<br />2016-2017 138,585
<br />Total deposits for the preceding four fiscal years 4,277,481
<br />Base limitation 1,000,000
<br />Greater Amount 4,277,481
<br />Computed Excess Surplus — June 30, 2017
<br />4 The FY 2015116 beginning balance is restated due to the reclassification of the long-term loans
<br />receivable from deferred inflows of resources, unavailable revenue, to an allowance for uncollectible
<br />accounts.
<br />HOUSING AUTHORITY OF THE CITY OF SANTjtP V fjy17 Page 8
<br />Beginning Balance
<br />$25,736,346
<br />$17,996,580
<br />$48,615,116
<br />$46,541,115
<br />Add: Deposits
<br />$1,496,182
<br />$2,329,877
<br />$312,836
<br />$138,585
<br />(Less) Expenditures
<br />$9,235,948
<br />$950,279
<br />$2,386,837
<br />$3,742,853
<br />Ending Balance
<br />$17,996,580
<br />$19,376,178
<br />$46,541,115
<br />$42,936,847
<br />The LMIHAF does not have an Excess Surplus. (Refer to calculation below.)
<br />Fund Balance — June 30, 2016 $42,936,847
<br />Less Unavailable Amounts:
<br />Advance to private -purpose trust fund ( 532,601)
<br />Community development ( 39,549,196)
<br />Land held for resale ( 2,855,050)
<br />Available Low Income Housing Funds
<br />Limitation (Greater of $1,000,000 or Four Years Deposits):
<br />Aggregate amounts deposited for preceding four fiscal years
<br />2013-2014 1,496,182
<br />2014-2015 2,329,877
<br />2015-2016 312,837
<br />2016-2017 138,585
<br />Total deposits for the preceding four fiscal years 4,277,481
<br />Base limitation 1,000,000
<br />Greater Amount 4,277,481
<br />Computed Excess Surplus — June 30, 2017
<br />4 The FY 2015116 beginning balance is restated due to the reclassification of the long-term loans
<br />receivable from deferred inflows of resources, unavailable revenue, to an allowance for uncollectible
<br />accounts.
<br />HOUSING AUTHORITY OF THE CITY OF SANTjtP V fjy17 Page 8
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