>> FINANCIALS FUND SOURCES Rents and other payments received directly from tenants $83,832,980 HUD Public Housing Operating Subsidies 9,251,414 HUD Public Housing Capital Grants 3,517,717 HUD special purpose Housing Choice Voucher rent subsidies 13,510,378 HUD Moving to Work (MTW) Block Grant 118,184,191 Miscellaneous sources including draws from construction reserves 23,888,859 TOTAL FUND SOURCES $252,185,539 FUND USES Administrative costs $52,983,095 Property operating expenses 19,152,144 Landlord rental subsidies 109,027,006 Resident support 13,508,646 Capital expenditures 37,518,418 Principal and interest payments 19,508,616 TOTAL FUND SOURCES $251,697,925 FUND SURPLUS $487,614 Unaudited financial report for the year ended 12/31/2017