COBI 2014 - Olene Walker Housing Loan Fund

Compendium of Budget Information for the 2014 General Session

Social Services
Appropriations Subcommittee

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Agency: Workforce Services

Line Item: Olene Walker Housing Loan Fund

Function

The fund's mission is to support quality affordable housing options that meet the needs of Utah's individuals and families. Affordable housing for this program means that a household spends no more than 30% of income on all housing costs (including utilities). The money goes to home builders and buyers via low interest rate loans. The fund is a revolving loan fund.

The fund also helps with two other purposes:

Transitional Rental Assistanc- help to paindividuals' rent for a temporary period of transition. For most this means up to two years of help, but in some cases may be up to five years.
Individual Development Account- qualifying low incomes savers can receive state and federal matching funds to use for the costs of buying a home.

Issues/Analysis

Olene Walker Housing Loan Fund

Funding Detail

The majority of the funds go out as loans, which do not show up in the expenditure detail below. These loans show up as receivables on other financial statements.

Sources of Finance (click linked fund name for more info)
General Fund
General Fund, One-time
Federal Funds
Dedicated Credits Revenue
Interest Income
Beginning Fund Balance
Ending Fund Balance
Total

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$2,281,900	$2,242,900	$2,242,900	$2,242,900	$2,242,900	$0	$2,242,900	$0	$2,242,900
$13,800	$0	$0	$0	$0	$0	$0	$0	$0
$5,298,600	$2,227,200	$6,285,100	$1,646,300	$7,500,000	$0	$7,500,000	$4,500,000	$12,000,000
$426,500	$203,600	($207,600)	$1,041,900	$0	$177,000	$177,000	$0	$177,000
$1,569,300	$1,592,000	$1,786,700	$1,866,500	$0	$1,866,500	$1,866,500	$0	$1,866,500
$88,567,100	$96,560,500	$101,823,300	$110,322,700	$0	$116,213,100	$116,213,100	$10,879,200	$127,092,300
($96,560,500)	($101,823,300)	($110,322,700)	($116,213,100)	$0	($127,092,300)	($127,092,300)	($10,879,200)	($137,971,500)
$1,596,700	$1,002,900	$1,607,700	$907,200	$9,742,900	($8,835,700)	$907,200	$4,500,000	$5,407,200

Programs: (click linked program name to drill-down)
Olene Walker Housing Loan Fund
Total

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$1,596,700	$1,002,900	$1,607,700	$907,200	$9,742,900	($8,835,700)	$907,200	$4,500,000	$5,407,200
$1,596,700	$1,002,900	$1,607,700	$907,200	$9,742,900	($8,835,700)	$907,200	$4,500,000	$5,407,200

Categories of Expenditure (mouse-over category name for definition)
Personnel Services
In-state Travel
Out-of-state Travel
Current Expense
DP Current Expense
Other Charges/Pass Thru
Transfers
Total

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$426,700	$156,100	$428,800	$197,100	$0	$197,100	$197,100	$0	$197,100
$0	$100	$300	$200	$0	$200	$200	$0	$200
$0	$0	$0	$700	$0	$700	$700	$0	$700
$118,600	$459,400	$258,400	$157,300	$0	$157,300	$157,300	$0	$157,300
$0	$1,600	$0	$0	$0	$0	$0	$0	$0
$1,051,400	$385,700	$795,200	$551,900	$0	$551,900	$551,900	$0	$551,900
$0	$0	$125,000	$0	$9,742,900	($9,742,900)	$0	$4,500,000	$4,500,000
$1,596,700	$1,002,900	$1,607,700	$907,200	$9,742,900	($8,835,700)	$907,200	$4,500,000	$5,407,200

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COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.