Notes to SEFA
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Actual program costs, including the Housing Authority’s portion, may be more than shown.
In 2014, the Authority was approved by the USDA Rural Housing Service to receive a loan totaling $696,219 for the acquisition of an apartment complex. The amount listed on this schedule is the outstanding loan balance as of January 1, 2024, amounting to $310,128. The balance of the Rural Rental Housing loan on December 31,2024, was $283,256.
The granting agency, The Department of Housing and Urban Development (HUD) for ALN 14.871 interprets reporting requirements for the Section 8 Housing Choice Vouchers in a manner that allows for public housing authorities to report revenue received as opposed to amounts expended. For ALN 14.71, Section 8 Housing Choice Vouchers, Pierce County Housing Authority chose to report revenues received from the grantor, rather than actual expenditures incurred, as allowed by the granting agency, the Department of Housing and Urban Development. Actual expenditures incurred under program 14.871 for fiscal year 2024 totaled $42,084,129.