IV.1. Public Housing Operating Budget
CITY OF HOPKINS
HRA Report 2024-01
To: Honorable Chair and Board Members
Mike Mornson, City Manager
From: Muse Mohamed, Public Housing Manager
Date: February 6, 2024
Subject: Public Housing Operating Budget
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RECOMMENDED ACTION
MOTION TO Approve Resolution 552, approving the Operating Budget for period
ending in 03/31/2025
With approval of this motion, staff will complete the operating budget documents and
make them available to the United States Department of Housing and Urban
Development (HUD) for their review, adjustment and approval.
OVERVIEW
Each year the HRA is required by HUD to develop and approve a budget for the
operation of the 76 units of Hopkins HRA-owned Public Housing at Dow Towers. HUD
currently distributes an operating subsidy based on the calendar year rather the HRA
fiscal year. In addition to preparing the fiscal year budget, HUD annually requests the
submission of the Operating Subsidy Calculation.
When Congress determines the amount of funding for the Public Housing program, the
HRA will be notified of the actual amount. For 2024, we will receive operating subsidy
funding from HUD to assist in the general operations at Dow Towers. Currently, we are
anticipating receiving approximately 87 percent of federal operating subsidy.
The Operating Budget is for our use as a guide during our budget year; however, HUD
requires the budget to be reviewed and approved by resolution. Code of Federal
Regulations 24 CFR 903.17 requires Housing Authorities to conduct a public hearing to
discuss the plan and invite public comments.
SUPPORTING INFORMATION
• HRA Resolution 552
Housing & Redevelopment
Authority
552