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SEATTLE—July 8, 2005— Seattle Housing Authority's Board of
Commissioners passed the Fiscal Year 2006 budget last month.
Overall,
the budget sets both revenues and expenses at somewhat lower
levels than last year in response to changes in federal
appropriations and Seattle Housing's efforts to become less
dependent on federal funding.
Seattle Housing's overall operating budget
will decrease in expenses from $61,066,528 in Fiscal Year 2005
to
$60,506,486 in Fiscal Year 2006.
“This is
a pragmatic budget which positions the Seattle Housing
Authority to operate responsibly in the face of continuing
downward pressures on federal subsidy," said SHA Executive
Director Tom Tierney. "Wherever possible we are trimming
expenses and seeking to operate more efficiently, with an
eye to the future.”
Once
again this year SHA will reduce staff, by the equivalent of
24 employees. Consequently, very few people will lose
their jobs in this next reduction as most will have the
opportunity to shift to open positions within the
agency.
Earlier this year, a number of employees were
laid off from the maintenance department due to lack of
work. With older communities in the process of being
redeveloped, and new units on line, there is less need for
extensive maintenance activities.
With the
2006 fiscal year budget, the agency will begin a course
toward renewing and increasing its asset base, through
redevelopment and through the responsible use of leveraging
all possible opportunities. The new communities at
NewHolly, Rainier Vista and High Point are
providing the most appropriate housing to low-income
families while reducing operating expenses. New
acquisitions, purchased largely with bond financing, help to
serve a wider spectrum of residents.
This budget also helps SHA on its road to becoming more
entrepreneurial. Seattle Housing will continue to seek ways to add to the revenue base locally, while
decreasing dependence on federal subsidy.
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