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Knox County Housing Authority operational budget projects a deficit

The Knox County Housing Authority’s operational budget for the year is projecting a $97,000 deficit.
KCHA documents indicate they are anticipating revenue near $4.23 million and expenses around $4.32 million dollars for their fiscal year that runs from April 1, 2016 to Mar 31, 2017.

Executive Director Derek Antoine says the deficit is a combination of one of the authority’s properties projecting expenses outdoing income, but also because of lack of funding for the Section 8 voucher program.

The Department of Housing and Urban Development manages the housing voucher program but Antoine says KCHA runs a deficit for that fund every year, due to HUD not providing enough funds to cover costs.

Every year if the KCHA budget has a surplus, that money goes into reserves which is why Antoine tells WGIL a $97,000 deficit doesn’t have him concerned.

“When we do have these shortfalls it’s an ok situation because that’s what that money in reserves is for, to handle those day-to-day costs,” Antoine says.

Also the KCHA might have found their new resident commissioner to sit on the board.

Floyd Palmer stepped down from the position in November.

Antoine says Paula Sanford has shown interest and that he believes after an orientation with KCHA she’ll be on her way to being seated.

“I’m anticipating her flying through that with flying colors and I fully anticipate her being our next resident commissioner,” Antoine says.

Sanford’s final approval would will have to be confirmed by the Knox County Board.

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