As indicated in the chart below, NHS Rental Properties are the largest single expenditure category at the end of the 2002 Fiscal Year. Lending ranks second at 29%. Program Development, Administrative/General Operations, and GOF Property Management and Fee for Service make up slightly less than one-third of all expenditures.

ANHS fully apportions all costs to each fund. For instance, the budget distributes personnel costs to the different funds on a pro rata basis. Other expenses, such as supplies, utilities, postage, computers, etc., also find their way to the different funds the same way.

Figure 8. Expenses by Fund for the Fiscal Year ending June 2002

NHS Rental Properties

NHS Rental Properties, the largest single expenditure in FY 2001-2002, consists of costs related to the purchase and/or repair of ANHS' rental housing units, including property taxes. Rental property expenses amounted to $286,680 in FY 2001-2002.

Lending

Lending covers involves all costs associated with the revolving loan funds and housing and financial counseling. This fund is the second largest expenditure category in the ANHS budget and totaled $215,028 for FY 2001-2002.

Administrative/General Operations

Administrative/General Operation expenditures are a broad category that includes overhead costs not directly attributed to any specific program. These can include portions of staff salaries, board-meeting expenses, professional expenses, fundraising, and the Board Designated Fund, which handles depreciation. Total expenditures for this fund were $85,430.

Fee for Service and Property Management

Expenses involved with carrying out Fee for Service contracts, such as home inspections and construction oversight on non-ANHS loans, as well as Property Management fees for ANHS rentals comes under this expense category. In FY 2001-2002, the total expenditures were $93,581.

Program Development

Program Development covers expenses associated with promoting ANHS and developing new projects. These expenses can include marketing and advertising, preparing and distributing newsletters and articles, and conducting special studies like participating in the Grays Harbor County LMI Housing Plan. Program Development expenses were $59,538 for FY 2001-2002.

Miscellaneous Budget Facts and Figures

• Salaries, benefits, and payroll taxes were $335,218 for FY 2001-2002
• The total assessed value of ANHS property was $1,440,684 in 2002
• ANHS paid a total of $13,322 in property taxes to Grays Harbor County in 2001-2002
• ANHS undergoes financial audits annually by an independent accounting firm