The Cumberland County Housing and Redevelopment Authorities operate on a fiscal year from July 1 through June 30. Housing Authority revenue for the fiscal year ending June 30, 2011, was $8,476,736.* Redevelopment Authority revenue for 2010-2011 totaled $8,801,193.
The Redevelopment Authority’s operational budget for fiscal year 2012-2013 is $3,040,214, and includes salaries, benefits and overhead costs associated with operational and staff expenses. The administrative budget is funded entirely by program revenues—administrative fees earned through federal Community Development Block Grants, HOME, homeless assistance programs, housing choice voucher and public housing programs, as well as property management fees.
Both Authorities are audited each year and their financial statements are made available to the public. An independent auditor, Fallon & Larsen LLP, provides a report on internal control over financial reporting, compliance and other fiscal matters based on an audit of the Authorities’ finances performed in accordance with government auditing standards.
* 2010-2011 is the most recent fiscal year for which audited figures are available. The audited financial statement is released between January and March of the following year.