2013 annual report

HOUSING AUTHORITY OF THE CITY OF EL PASO
75 YEARS OF RESPECT + RESPONSIVENESS + RESULTS
2013 ANNUAL REPORT
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MISSION
The mission of the Housing Authority of the City of El Paso is to provide
safe, decent, and affordable housing to assisted families living at or below
80 percent of the area median income.
VISION
The vision of the Housing Authority of the City of El Paso is to always
accomplish its mission regardless of the level of funding it receives from the
federal government.
TOP 10 FACTS
HACEP is the largest public housing authority in Texas and the 14th
largest in the United States.
HACEP serves 40,000 low-income El Pasoans, or 6 percent of the city’s
population, through its rental assistance programs.
HACEP has achieved “High Performer” status every year since 2003 by the
U.S. Department of Housing and Urban Development.
Each year, HACEP infuses more than $9 million into the local economy
through its capital construction and renovation projects and $30 million to
private landlords who participate in the Housing Choice Voucher Program.
HACEP operates 6,039 public housing units, 495 Section 8 New
Construction units, 5,600 Housing Choice Vouchers, and 1,300 tax credit
and non-subsidized units.
HACEP operates a $91 million annual budget and has more than $204
million in net assets.
HACEP provides more than a hand out, but a hand up through its
homeownership program. Since 2003, more than 150 HACEP families
have closed on their own home. In addition, thousands of individuals
have attained their GED, learned English as a Second Language, and have
attained sustainable employment.
HACEP employs nearly 430 people from professional executives to welltrained craftsmen.
HACEP is one of the most financially sound public housing authorities in
the U.S. and earned an unqualified financial audit with no findings for the
past three consecutive years.
HACEP provides 170 HUD-VASH Vouchers and 15 Shelter Plus Care units
for homeless veterans, 22 Shelter Plus Care units for chronically homeless
disabled civilians, and 50 units for domestic farm laborers.
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SECTION 1 / MESSAGES
SECTION 2 / HACEP LEADERSHIP
PAGES 4-6
PAGE 9
SECTION 3 / ACCOMPLISHMENTS
SECTION 4 / FINANCIAL STATEMENTS
PAGES 11-17
PAGES 19-21
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SECTION 1 / MESSAGES
+ mayor’s message
+ chairman’s message
+ ceo’s message
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MAYOR’S MESSAGE
Upon my election as Mayor in May 2013, my top priority was to learn about every department and division under the direction of the City of El Paso and to understand all of their
challenges. I knew that after eight years of continuous leadership by the previous administration, some departments would require more attention to ensure that they perform at optimal
efficiency and had the right people in charge to lead the way. At that time, one of the organizations that never made it to the top of my list of priorities was the Housing Authority of
the City of El Paso. It seemed that everyone I spoke with had nothing but great things to say
about this agency. Through the continuity of leadership by the Board of Commissioners, CEO
Gerald Cichon and his administration, and the staff – many of whom have dozens of years of
continuous service – it appeared to me that this agency has its sails fully unfurled on a calm
open sea.
That is not to say that occasion squalls and inclement weather were on HACEP’s horizon
thanks to federal budgetary reductions, sequestration, and capital improvement concerns.
However, I could quickly see that the right people with the right skills were running the ship
in the right direction. It was only recently that I finally had a chance to meet the staff in early
January 2014. It was then when I realized that everyone at HACEP has a deep passion to fulfill
the mandates of its mission to provide safe, decent, and affordable housing to nearly 40,000
low-income El Pasoans every day. Through its consistent recognition as a High Performer by
HUD, its solid financial performance, and headline development efforts, HACEP is raising the
bar among its industry peers and placing El Paso on a map of affordable housing excellence
across the country. This is yet another example of why in El Paso, “It’s All Good.”
As the 75th Anniversary of HACEP winds down, it is an appropriate time to reflect on the
past starting back when City Council incorporated the Housing Authority of the City of El
Paso on February 17, 1938. Times were certainly different. El Paso’s population at that time
was 89,000 people. World War II was just beginning, and the country was still recovering
from the Great Depression and a severe drought. Fortunately, President Franklin Roosevelt’s
New Deal kicked in under the auspices of the Public Works Association and then later with
the U.S. Housing Authority.
By this time, HACEP was just wrapping up the final touches of the Alamito Place in El Segundo Barrio, the first public housing community in El Paso. Featuring more than 350 units
spread over 7 acres, Alamito was the first of what would become dozens of affordable housing
communities sprinkled throughout El Paso at a rate that reflected the City’s expansion over
the next seven and a half decades. Throughout this time, federal, state, and local regulations
changed as did the look, amenities, demographics, and funding mechanisms of HACEP’s
properties and programs. Despite all this, what has not changed throughout all of this time is
the unwavering commitment of the staff to help others in need.
Now the 40,000 children, elderly, disabled, and working-poor who call HACEP home represent 6 percent of the City’s population. With 75 years under its belt, I am confident that our
local housing authority will be successful in its next 75 years to create additional affordable
options for our most needy citizens. As El Paso continues a four-year trend as the safest large
city in the U.S., we must not lose sight that there are more than 14,000 families on HACEP’s
waiting lists patiently waiting for a hand up back to economic self-sufficiency.
It has been said that the character of a community can best be judged by how it cares for its
most vulnerable residents. The City of El Paso reaffirms the value of services provided by
HACEP and looks forward to our continuing partnership in making El Paso a place we are all
proud to call home.
Sincerely,
Oscar Leeser
Mayor of the City of El Paso
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Chairman’ S MESSAGE
It has been my privilege to serve as the Chair of the HACEP Board of Commissioners since
2008. Over these last several years, I have seen firsthand the impact that this public housing
authority, now the 14th largest in the nation, affects the lives of so many El Pasoans. I have
seen a remarkable improvement in the way the staff and administration handle the day-today operations. I have witnessed record numbers of residents close on their own home. And I
have seen how industry leaders are turning their heads to El Paso for answers to the big questions that affect the other 3,100 public housing authorities in the country.
This past year was filled with a number of accomplishments worth celebrating. The first is
that our Public Housing and Housing Choice Voucher Programs continue to maintain their
High Performance status as measured by the Public Housing Assessment System (PHAS) and
the Section Eight Management Assessment Program (SEMAP). By earning a PHAS score of
96 and a SEMAP score of 90 this year, our affordable housing operations continue their high
performance distinction for the third consecutive year despite reductions in federal revenue.
Meanwhile, HACEP’s first mixed income, mixed finance community is being delivered on
time and on budget. Eastside Crossings is our first engagement with a 9 percent tax credit
secured through the State of Texas. It will feature 64 public housing units, 79 affordable units,
and 45 market rate units built to LEED Silver equivalent standards. With a pool, two covered
playgrounds, covered parking, walking trails, and a fitness center, this property is a sterling
example of the new form of affordable housing for the Sun City.
Another accomplishment is HACEP’s exceptionally strong current ratio on its balance sheet.
Despite the shrinking budget from sequestration, HACEP continues to have one of the strongest balance sheets in the industry. Through fiscally prudent cash management strategies and
wise investments in technology, HACEP is leading the way to do more with less. Through
careful oversight and continuous reviews, HACEP has also earned an unqualified audit with
no management findings for the third consecutive year. During a recent Board meeting, our
third-party auditor mentioned that he audits 40 public housing authorities across the country
and that it is “extremely rare” to find no findings in large housing authorities.
However, risk exists within organizations that do not take action now to prepare for the
challenges of the future. Since most of HACEP’s public housing properties were built prior
to 1980, HACEP’s risk is continued deterioration of its units without sufficient federal funds
to maintain them. For this reason, HACEP has taken the bold step to engage in the Rental
Assistance Demonstration, or RAD, to convert 6,100 public housing units from conventional
Section 9 public housing to Section 8 project-based rental assistance. Beginning in early 2015,
HACEP will begin relocating residents out of their current units to invest approximately $500
million to rehabilitate them. When everything is complete in 2019, the City of El Paso will
have the highest quality and most energy-efficient public housing in the United States. These
efforts will also ensure HACEP’s sound footing for at least the next 40 years. This is truly a
bold project, but the Board of Commissioners are very confident in the ability of the staff to
communicate and partner with our residents to ensure our success.
Through these fine accomplishments, and the steps we are taking now to address the challenges of the future, I am confident that HACEP will continue to fulfill the mandates of its
mission to provide safe, decent, and affordable housing in El Paso for the next 75 years.
Sincerely,
Joe Fernandez
Chair of the HACEP Board of Commissioners
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CEO’S MESSAGE
This year was an historic one for the Housing Authority of the City of El Paso. On February 17,
2013, we celebrated the 75th Anniversary with an evening of entertainment and awards with
the staff, stakeholders, partners, and elected leaders who helped us become one of the largest and highest performing public housing authorities in the United States. From that point
forward, we placed anniversary banners at all of our properties, acquired a time capsule, and
helped organize a celebration with the Jurisdiction Wide Resident Council to commemorate
our commitment to provide the safest and most affordable housing anywhere in the country.
We have come a long way over the past 75 years. With 6,039 public housing units in active
service, HACEP is now the 14th largest housing authority in the country. While part of the
reason for HACEP’s growth is a result of new public housing units online, including the
Paisano Green Community, our increased size is unfortunately more closely tied to the loss
of public housing units in other parts of the country. Each year, approximately 10,000 public
housing units are lost due to insufficiently appropriated funds by Congress to HUD. According to the Council of Large Public Housing Authorities, there is now a $26 billion backlog
of capital needs in the 1 million public housing units across the country. For the 2013 budget, however, Congress appropriated $1.8 billion for capital improvements. Here in El Paso,
HACEP conducted a comprehensive physical needs assessment and has determined that we
have an $80 million need in capital improvements over the next five years, but anticipates
only $25 million in funds during that same period. How is HACEP, let alone all of the other
3,100 public housing authorities in the U.S., going to address such a gap?
The answer, at least for HACEP, is the Rental Assistance Demonstration (RAD) Program. On
December 16, 2013, HUD approved HACEP’s application to convert 6,100 Section 9 public
housing units to Section 8 project-based rental assistance units through the Rental Assistance Demonstration (RAD). Under RAD, HACEP will leverage private capital to address
properties’ capital backlog and fund a capital replacement reserve for future repair and
replacement needs. Since Congress approved 60,000 public housing units for RAD in FY2012,
HACEP is the largest public housing authority in the U.S. to engage in this initiative. Beginning in January 2015, HACEP will start investing $500 million to rehabilitate and rebuild our
units over the next five years to highest quality and most energy efficient standards. This, of
course, will require the partnership and patience of our 20,000 residents as we temporarily relocate them to other public housing units while we spend anywhere from $35,000 to
$80,000 per unit to eliminate asbestos, replace deteriorated duct work, switch from evaporative coolers to refrigerated air units, and install new cabinetry and Energy Star appliances.
This is a massive undertaking. Fortunately, we are ready, our residents are ready, our City
and County are ready, and HUD is ready for us to set our course on a sustainable trajectory
for the next 40 years and lead the nation in transforming public housing as we know it. In the
meantime, we will continue to focus on our customer service, eliminate inefficient business
processes, and hire, train, and retain the best housing authority workforce anywhere in the
country.
As you read through this annual report, I hope that you gain renewed insight into an organization that has been and will always be committed to our mission by serving others in need
with compassion while taking great pride in our recognition as one of the largest and highest
performing housing authorities in the United States.
Sincerely,
Gerald W. Cichon
Chief Executive Officer
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SECTION 2 / HACEP LEADERSHIP
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boa rd o f C O M M I S S I O N E R S
Sue Pratt
Vice Chair
Lupita Licerio
Resident Commissioner
Lynn Coyle
Commissioner
Kevin Quinn
Commissioner
EXECUTIVE STAFF
Satish Bhaskar
Chief Financial Officer
Shane Griffith
Public Information
& Government Relations Officer
Stan Waterhouse
Chief Operating Officer
Lorena Rivera
Director of the Housing Choice
Voucher Program
Juan Olvera
Director of Development
& Capital Projects
William Zeigler
Chief Human Resources Officer
Yolanda Dion
Director of Budgets
Hector Montoya
Director of Finance
Roman Velasquez
Director of Public Housing
Gary Knudsen
Director of
Information Technology
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SECTION 3 / ACCOMPLISHMENTS
+ 75th ANNIVERSARY CELEBRATIONS
+ 2013 ACCOMPLISHMENTS & AWARDS
+ HOUSING ACQUISITION CORPORATION
+ PAISANO HOUSING REDEVELOPEMENT CORPORATION
+ PROVIDING A HAND UP
+ COMMUNITY PARTNERS
+ HACEP & HAC EMPLOYEES
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75th anniversary
celebrations
Back in 1938, times were a little different than they are now. Snow White and
the Seven Dwarfs, the first animated
full-length movie, was released. Howard Hughes set a new record by flying
around the world in only 91 hours. And
Germany was busy occupying other
countries like Austria and Czechoslovakia. Closer to home, local leaders were
busy putting the final touches on the
documents that formed the Housing
Authority of the City of El Paso, Texas
on February 17 of that year. It was out of
the midst of the Great Depression that
public housing authorities like HACEP
were created by municipal ordinance
to provide safe, decent, and affordable
housing to those who needed it most.
It all started with the construction of the
Alamito Community in south central
El Paso on the skirts of El Segundo
Barrio - a vibrant, but economicallydisadvantaged part of town where many
immigrants from Mexico made their
start in the United States. Constructed
in 1941, Alamito embodied the ideals
of Roosevelt’s New Deal - to create
jobs, improve real estate, and help the
working poor get on their feet. Now, 75
years later, Alamito stands today with
bright new buildings, energy star homes,
and with families of all demographics
living near each other. Farther down the
road at the corner of East Paisano and
Boone, the Paisano Green Community
was completed in 2012. Its energy efficient building envelopes, 650-plus solar
panels, and two wind turbines have
taken the concept of affordable housing
to a new level. Due to its net zero status,
the 73 elderly families who live here
pay virtually no energy bills since the
property produces as much energy as
the residents consume.
While the look of our communities has
changed over the years, our unwavering
commitment to help others in need has
not. Day after day, year after year, decade after decade, HACEP continuously
fulfills the mandates of our mission.
Now, the 40,000 children, elderly, disabled, formerly homeless, and workingpoor residents who call HACEP home
represent 6 percent of the City’s population. Over time, HACEP has proudly
helped hundreds of thousands of people
find a home over the past 75 years.
To commemorate our history 75th Anniversary, HACEP coordinated a series
of events to recognize many of the dedicated volunteers and staff who served
the residents over the years. In February,
we hosted a 75th Anniversary Gala at
the beautiful Grace Gardens banquet
facility. The keynote speaker was Saul
Ramirez, Jr., CEO of the National Association of Housing and Redevelopment
Officials (NAHRO). Staff, residents, and
partners were recognized. In August, the
Commissioners sealed a 75th Anniversary time capsule in which residents
and staff placed letters, communication
materials, uniforms, logos, photos, and
news articles that will help preserve
HACEP’s history. The time capsule is
on display in the breezeway next to the
Board of Commissioners Room and will
be opened on February 17, 2038 during
the 100th Anniversary of HACEP. In
December, HACEP and the Jurisdiction
Wide Resident Council hosted a 75th
celebration for residents complete with
food, music, and dancing.
This year was packed with celebrations,
milestones, and visions for the future.
The one thing that will not change is our
commitment to our residents, our stewardship of our public resources, and our
focus to make our operations as efficient
and customer centric as possible.
Left to Right, Top to Bottom
Alamito, 1938
Time Capsule Sealing Ceremony
Mr. Velasquez with Resident at Resident Party
Kitchen Interior, 1953
Cheerleader at Alamito, 1955
75th Anniversary Gala
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HACEP ACCOMPLISHMENTS
Whether it’s maintaining our high performance status in Public
Housing and the Housing Choice Voucher Programs, receiving
prominent media coverage in both El Paso and across the U.S.,
or earning awards for our innovative programs and initiatives,
HACEP works hard every day to deliver the most effective and
efficient service to all of our clients, residents, business partners,
and stakeholders. These accomplishments are a reflection of the
efforts of the staff who dedicate their professional lives to serving El Paso’s economically-challenged residents.
HACEP Receives NAHRO Award of Excellence
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HACEP 2013 AWARDS
DEPARTMENT OF FINANCE
• Award of Excellence in Project Design for Paisano Green
Community by National Association of Housing and
Redevelopment Officials (NAHRO).
• Best Newsletter, Southwest NAHRO.
• Best Annual Report, Public Relations Association
of the Southwest.
• Best Event - Paisano Green Community Ribbon Cutting
Ceremony, Public Relations Association of the Southwest.
• Best External Publication - Innovative Solutions booklet,
Public Relations Association of the Southwest.
• Unqualified audit opinion with no management findings for
the third consecutive year.
• Implemented an integrated Payroll and Talent
Management System.
• Launched a Risk Management Leadership Team.
• Achieved 25 out of 25 points on the Financial Assessment
Subsystem (FASS).
• Upgraded all PC-based computers to thin client in a shared
server enterprise environment.
Paisano Green Community
phas scores
SEMAP SCORES
96
95
93
90
93
100
2013
2012
2011
2013
2012
2011
PUBLIC HOUSING PROGRAMS
DEPARTMENT OF HOUSING CHOICE VOUCHER
• PHAS High Performer for third consecutive year.
• Youth Summer Conference with UTEP – increased to 400
HACEP youth participants.
• Graduated first class of the Alpha Youth Leadership Academy.
• Implemented new training standards and advancement
opportunities for maintenance personnel.
• Redesigned work order procedures and call center operations
to enhance customer service and response times.
• SEMAP High Performer for fourth consecutive year.
• Integrated Public Housing and HCV admissions and
eligibility departments.
• Replaced outdated handheld devices with tablets to
enter inspection data and instantly upload data
into client files.
• Created a Master Scheduler by consolidating the separate
scheduling functions of the Public Housing and HCV Pro
grams into a single-person operation.
• Awarded an additional 25 HUD-VASH vouchers for a total of
170 for homeless veterans.
• Automated participant files by converting electronic images into PDF documents and uploaded them to the e-HACEP
system including Enterprise Income Verification (EIVs), HAP
contracts, tenancy addendums, and HUD forms 50058.
• Helped 22 families purchase their home through the
FSS/Homeownership program.
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Berenice Yoder and Rosa Portillo, right, helped Dale and Barbara Adams relocate
into a new apartment after their mobile home in Socorro was destroyed in
September 2013 from flood waters. Mr. Adams, a Veteran of the Vietnam War, is
grateful to all the people from the Red Cross, the Salvation Army, and HAC who
helped him and his wife through their difficult experience.
hACEP acquisition corporation (hac)
The HACEP Acquisition Corporation, doing business as Housing Acquisition Corporation, or simply HAC, is a wholly owned
subsidiary of the Housing Authority of the City of El Paso. HAC
manages 1,288 Low Income Housing Tax Credit (LIHTC) and
Non Subsidized (or Non-Annual Contributions Contract NonACC) properties. Both programs provide affordable housing to
tenants who can afford to pay rents at 60 percent of the area
median income. The LIHTC program is a dollar-for-dollar tax
credit in the United States for affordable housing investments.
It was created under the Tax Reform Act of 1986 (TRA86) that
gives incentives for developers both public and private to create
HAC currently invests through a limited partnership with the
following entities, each of which has a property of the same name:
name
Bienvivir Parkside Ltd.
Cedar Oaks Ltd.
Meadowbrook Townhomes Ltd.
North Mountain Ltd.
Saul Kleinfeld Ltd.
Western Pebble Hills Ltd.
Western Pellicano Ltd.
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units
56
160
25
200
30
30
30
Total: 531
affordable housing aimed at low-income Americans. LIHTC
accounts for the majority - approximately 90 percent - of all
affordable rental housing created in the United States today.
The primary goal of HAC is to provide property management
services to owned and non-owned affordable and other multifamily properties. HAC is managed by a professional team of
35 employees who specialize in property management, maintenance, and finance.
HAC also provides property management services to the
following non-owned tax credit and market rate properties, each
of which has a property of the same name:
ENTITY
Desert Sun
Las Casita
Lee Seniors Ltd.
Lomaland Townhomes
Orchard
St. Johns
Villa Alegre
Western Burgundy Ltd.
Western Carolina Ltd.
Western Crosby Ltd.
Western Eastside Seniors Ltd.
Western Gallagher Ltd.
Western Redd Road Ltd.
Western Yarbrough Ltd.
units
28
5
19
14
4
12
369
64
56
56
19
49
30
32
Total: 757
Eastside Crossings
Expected Completetion Fall 2014
Paisano Housing Redevelopment Corporation
The Paisano Housing Redevelopment Corporation (PHRC)
is a non-profit 501(c)(3) instrumentality of HACEP.
Alamito Terrace
In 2007, PHRC developed Alamito Terrace
through Alamito Terrace GP, LLC. PHRC
owns 100% as a general partner of the
76 units in a Low-Income Housing Tax
Credit real estate partnership designated
for elderly residents. PHRC was also the
developer of this property, which was
completed in 2010.
Alamito Gardens
In 2007, the PHRC development Alamito
Terrace created Alamito Gardens GP,
LLC. PHRC owns 100 of this property
in order to serve a General Partner for
future construction project of 142 units in
a Low-Income Housing Tax Credit real
estate partnership designated for elderly
residents. PHRC was also the developer
of this property which was completed in
2011.
Arrowhead Place
In late 2012, PHRC acquired the General
Partnership of this 24 unit complex.
As General Partner, PHRC will provide
oversight of the financial and operational
compliance.
Bienvivir Parkside Seniors
Bienvivir is a 56-unit affordable housing
community of which PHRC maintains an
investment in this limited partnership.
Eastside Crossings
In 2012, the PHRC development Alamito
Terrace created Eastside Crossings GP,
LLC. PHRC owns 100 of this property in
order to serve a General Partner for
construction project of 188 units in a
Low-Income Housing Tax Credit real
estate partnership. PHRC is also the
developer of this property, which will be
completed in 2013.
Kenworthy
In 2011, PHRC acquired 47 acres of land
on the Eastside of El Paso. Site improvement work is currently underway. This
site will be utilized for the development of
a mixed-income, mixed-finance community in the years to come.
Western Sunshine
In late 2012, PHRC acquired the General
Partnership of this 36-unit community.
As General Partner, PHRC will provide
oversight of the financial and
operational compliance.
Elvin Estates
In 2012, PHRC development Alamito
Terrace obtained a grant from the City of
El Paso for the construction of a 15-unit
elderly apartment community. Construction of this project was finished
in March 2013.
Geronimo Trail Townhomes
In late 2012, PHRC acquired the General
Partnership of this 22-unit community.
As General Partner, PHRC will provide
oversight of the financial and operational
compliance.
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providing a hand up
The mission of HACEP extends beyond our asset and voucher management operations. In order to effectively address the generational
nature of dependence on government subsidized housing, HACEP
focuses its community outreach efforts on the youth and upwardly
mobile adults to empower them with the skills, support, and encouragement they need to attain their dreams and graduate from the
subsidized housing lifestyle. As families successfully leave our housing
programs, they then open a slot for another family who has patiently
waited for their turn to receive housing assistance.
Alpha Youth Leadership Academy
COMMUNITY PARTNERS
AVANCE – El Paso Border Network for Human Rights • Boys & Girls
Clubs of El Paso • Celebrando La Recuperación • Child Crisis Center of El Paso • Children’s Kingdom Learning • Christian Joy Center
Academy • City of El Paso Department of Community and Human
Development • City of El Paso Department of Public Health • County
of El Paso Elections Department • El Paso Affordable Housing CUSO •
El Paso Collaborative for Community and Economic Development • El
Paso Community College • El Paso County Juvenile Probation Department • El Paso Exploreum • El Paso First Health Plans • El Paso Police
Quad HOT Summer Conference
Department • El Paso Public Libraries • El Paso Water Utilities • El Paso
Veterans Affairs Health Care System • Federal Reserve Bank of Dallas,
El Paso Branch • Greater El Paso Association of Realtors (GEPAR) •
HAI Group • KaBoom! • Las Americas Immigrant Advocacy Center
Latinitas, Inc. • Molina Health Care • Pan American Health Organization • Paso del Norte Health Foundation • Project ARRIBA • Project
Bravo • Project VIDA Health Center • Region 19 Migrant Education
Program • Robles and Associates • Rio Grande Council of Governments - Area Agency on Aging • Southwest Gospel Ministries • Teachers Federal Credit Union • Texas AgriLife Extension Service • Texas
Department of Aging and Disability Services • Texas Tech University
Health Sciences Center School • University of Texas at El Paso • Visiting Nurses Association (VNA) • VOLAR Center for Independent Living
• Workforce Solutions Upper Rio Grande • Ysleta Independent School
District • YWCA - El Paso del Norte Region
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Back to School Supply Drive
As of December 2013
HACEP EMPLOYEES
Miguel A. Acuna • Martha Adame • Arturo Aguilar • Cruz Aguilar • Gustavo Aguilar • German R. Aguilera • Pedro R. Aleman • Armando Almanza • Jose D. Alonso • Monica N. Alonzo • Alma R.
Alvarado • Antonio Alvarez • Carlos R. Alvarez • Joseph Amor • Lilia R. Anaya • Alma R Andrade • Victor M. Arambula • Lorraine Arellano • Martha Arellano • Luis E. Arias • Steve C. Armstrong
• Armida N Arredondo • Rodolfo Arredondo • Miguel A. Avalos • Eddie Avila • Hector M. Avila • Manuel A. Ayala • Carlos J. Baca • Bertha Balandran • Marcos Balbuena JR. • Christian Balderrama • Jesus A. Baquera • Raul M. Barba • Roberto Barron JR. • Oscar Beanes • Sylvia Beard • Ruben Bernal • Ruth S. Bersch • Satish Bhaskar • Robert Bueno • Antonio R. Bugarin • Eric Bustillos
• Jose L. Cabral • Berta Camacho • Laura A. Camarillo • Miguel A. Campa • Maria B. Campos • Gabriel Candia • Rafael Caraveo JR. • Martin R. Cardenas • Daniel Carranco • Oscar M. Carrasco •
Jesus Carrejo • Lourdes P. Carrera • Claudia Carrillo • Grace Carrillo • Rodolfo R. Carrillo • Jose A. Casas • Eric G. Castaneda • Juan Castaneda • Jose Castanon • Jesus A. Castillo • Carlos Cazares •
Raymond A. Chaires • Fernando J. Chasco • Adan Chavez • Bertha E. Chavez • Michael R Chavez • Gerald W. Cichon • Jose A. Cintron • Jose D. Colmenero • Manuel Colorado • Hector R. Conejo
• Adela Contreras • Maria Corona • Ramon F. Corona • Alejandra Cortez • Eduardo Cortez • Susana M. Cos • Gilberto Cruz • Ruben Cueto • Phuoc H. Dang • Margaret C. Davis • Sonia De La
Cruz • Oscar De La Rosa • Hector Del Palacio • Juan R. Del Rivero • Claudia I. Delgado • Armando Diaz • Jaime M. Diaz • Mario Diaz • Ramiro A. Diaz • Sylvia Diaz-striplin • Blanca Dominguez •
Ricardo Dominguez • Gloria E. Dore • Joseph L. Dovenbarger • Jorge L. Dozal • Irma A. Duarte • Gaylynn S. Duran • Michael A. Duran • Linda Elmendorff • Manuel E. Encinas • Jose A. Enriquez
• Amanda Zita Escobar • David Escobar • Maharai Esquivel • Martha J. Esquivel • Rita Yolanda Esquivel • Judith Estrada • Lorraine Estrada • Michael A. Evans • Godofredo Faudoa • Jose R.
Favela • Arturo Flores • Ezequiel Flores • Juana Flores • Maria C. Flores • Mario F. Flores • Veronica Flores • Veronica A. Flores • Rita Galaviz • Marcos Galindo • Jose L. Gallinar • Sonia Gamboa
• Leopoldo Garcia JR. • Elizabeth Garcia • Jose M. Garcia • Karyn Garcia • Luis E. Garcia • Maria Garcia • Roberto Garcia • Rodolfo Garcia • Vanessa Garcia • Omar A. Gardea • Ricardo S. Gaytan
• Alejandra Gomez • Jose L. Gomez • Maribel Gomez • Sonia Gomez • Alberto Gonzales • George E. Gonzalez • Jose A. Gonzalez • Nydia Gonzalez • Robert F. Gonzalez • Salvador Gonzalez •
Annabelle Gonzalez-Ortiz • Gerald L. Gordier • James R. Grado • Rocio Granados • Shane B. Griffith • Patricia Guerra • Josefina Guerrero • Jose L. Gutierrez • Richard Guzman • Gene D. Gwyn
• Diana Heredia • Sergio Hermesdorf • Robert J. Hernandez JR. • Alejandro Hernandez • David Hernandez • Edward Hernandez • Jesus T. Hernandez • Leticia Hernandez • Luis A. Hernandez
• Maria A. Hernandez • Maria Luisa Hernandez • Miguel A. Hernandez • Cassandra R. Herrera • Jesus Roberto Herrera • Luis Herrera • Ricardo Herrera • Virginia R. Hill • Enrique Hinojos JR.
• Jose A. Holguin • Pedro D. Huerta • Zulema Huerta • Ricardo Jacquez • Raul Jaramillo • Azael A. Jimenez • Francisco M Jimenez • Juan Francisco Jimenez • Louis Johnson • Pamela R. Kimbell
• Gary A. Knudsen • Gilberto Laca • Sonia Legarretta • Jeremy S. Lehman • Carlos Leon • Lorenzo A. Lira • Carlos M. Lopez JR. • Jose E. Lopez • Mariza Lopez • Martin Loya • Alfredo Lozano
• Bertha A. Lucero • Santos Luevano • Jose G. Lujan • Amanda R. MacIas • Jaime G. MacIas • Ricardo Maese • Arturo Magallanez • Ricardo Maldonado • Victor Maldonado • Victor Mancha •
Carlos Manzano • Monica Marin • Ana L. Marquez • Martha L. Marrufo • Deborah Martinez • Jose A. Martinez • Luis F. Martinez • Michael J. Martinez • Omar L. Martinez • Raul L. Martinez
• Rebecca Martinez • Roberto Martinez • Sonya E. Martinez • Maria De Los Angeles Martos • Alfredo Mascorro • Santos L. McGuinness • Arturo Medina • David Medina • Gregorio Medina •
Robert Medrano • Sergio M Melendez • Marta C. Mena • Jesus J. Mendez • Eduardo Miranda • Priscilla Miranda • Luis G. Mireles • Armando Molina • Jose L. Molina • Roman Montelongo • Raul
G. Montes • Martin J. Montez • Cynthia M. Montion • Hector R. Montoya • Salvador J. Montoya • Reyna E Mora • Carlos Morales • Gerardo Morales • Hector Morales • Judith Morales • Morayma
Morales • Nadia P. Morales • Jose Luis Moreno • Leonardo D. Moreno • Lisa K. Mota • Roman Moya • Felix Muniz • Jose Munoz JR. • Cynthia Munoz • Jaime Munoz • Jesus G. Munoz • Richard
B. Munoz • Sergio T. Nahle • George E. Navarro • Stephen J. Navarro • Cipriano Nevarez • David Nieto • Jose Luis Nunez • Maria Angelica H. O’Brien • Juan A. Olvera • Alicia Ornelas • Manuel
Ornelas • Ramon C. Ortega • Enrique Ortiz • Jose A. Ortiz JR. • Jose L. Ortiz • Daniel Pacheco • Miguel A. Pacheco • Saul Pacheco • David A. Padilla • Robert K. Paige • Monica A. Parra • Rex K
Parsons • Lillian C. Payan • Albert Pedregon • Joel Pena • Linda A. Pena • Angelica M. Perales • Luis Ruben Perales • David Perez • Juan L. Perez • Lisandra P. Piper • Alfredo Pizarro • Guillermo
Pizarro • Lucila M. Polar • Alfredo Ponce • Robert P. Porras • Rosalinda Portillo • Manuel Prieto JR. • Juan C. Prieto • Arthur S Provenghi • Lourdes P. Quezada • Lucio G. Ramirez • Martin E.
Ramirez • Juan M. Ramos • Laura Ramos • Alonzo Rangel • Hector Rangel • Luz Marcela Renteria • Claudia L. Renteria-Arras • Tomas Reveles • Miguel B. Reyes • Elizabeth N. Reza • Manuel
Reza • Jeannette L Richie • Dolores Rivera • Lorena Rivera • Arturo Roa • Arturo Robles • Gilberto Robles • Lydia Aguirre Rocha • Bernardo Rodriguez JR. • Eugene Rodriguez • Jesus P. Rodriguez
• Olivia Rodriguez • Pedro J Rodriguez • Veronica Rodriguez • Tanya M. Rohwer • Carlos Rojas • Gustavo A. Rojas • Alejandro Romero • Maria D. Romero • Ann Romo • Rocio Rubio • Ernesto R.
Ruiz • Aracely G. Saenz • Oscar Salcido • Esteban Salgado • Manuel S. Salinas • Glenn Samples • Rene A. Sanchez • Oscar S. Serrano • Juan R. Sifuentes • Ida Silva • David F. Smith • Elizabeth A.
Smith • Carlos Soto • Norma Soto • Jose Talavera JR. • Richard Talavera • David Tapia • Hugo F. Tellez • Jonathan Terrazas • James Tobias • Jorge G. Torres • Marcos Torres • Maria Lourdes Torres
• Miguel A. Torres • Ruben Trevino • Rosalba Urbina • Erika Valadez • Juan Valdez JR. • Melissa T. Valdez • Julie S. Valdivia • Carlos A. Valles • Juan Valles • Mario Valles • Raymond Valles • Norma
B. Vara • Antioco Varela • Antonio Vasquez • Sergio R. Vasquez • Celia Velasquez • Roman Baltazar Velasquez • Antonio Vilchis • Maria A. Villanueva • Guillermo Villasenor • Jose M. Villegas •
Ismael Villela • Carlos Wall • Charles S. Waterhouse • Alexandra N. Welch-Quarm • Thomas Manuel White • Lucia R. Wiesinger • Jose E. Wong • Rosa M. Yanez • Berenice Yoder • Charles E. Young
• Raul Zavala • William Zeigler • Dolly I. Zengotita •
HAC EMPLOYEES
Robert Bagby • David Balderrama • Jose Luis Cabriales • Rafael Castillo • Marcela Ivette Chavez • Victor M Cisneros • Alejandro Delgado Jr. • Monica Delgado • Hector Fuenes • Laura Gill •
Adrian Gonzalez • Ramon Gutierrez Jr. • Laura L Gutierrez • Enrique Ibarra • Nohemi Leyva de Trevizo • Brenda Longoria • Jesus J Lopez • Osvaldo R Lopez • Jose A Lozano • Edgar Mendoza •
Armando Muro • Teresa Nanez • Gerardo Ochoa • Roy Padilla • Lily Perez • Danny Quinones • Alfredo Rayas • Raul Reyes • Graciela Reza • Alfonso E Rojas • Aaron A Salais • Sylvia G Sealey •
Juan D Vasquez • Lizette Velarde • Ramon Zubia
17
SECTION 4 / FINANCIAL STATEMENTS
+ STATEMENTS OF NET ASSETS
+ STATEMENTS OF REVENUE, EXPENSES,
AND CHANGES IN NET ASSETS
+ STATEMENTS OF CASH FLOWS
+ CAPITAL ASSETS
18
FINANCIAL STATEMENTS
STATEMENTS OF Net Assets
YEAR ENDED JUNE 30,
(IN THOUSANDS)
2013
2012
2011
$70,035
$62,838
$65,755
6,429
9,835
10,503
28,461
27,131
26,221
129,910
126,105
117,761
$234,835
$225,909
$220,240
Current Liabilities
$8,829
$8,842
$12,910
Noncurrent Liabilities
16,474
9,230
7,498
25,303
18,072
20,408
209,532
207,837
199,832
$234,835
$225,909
$220,240
ASSETS
Current Assets
Restricted Assets
Other Assets, noncurrent
Capital Assets, net
TOTAL assetS
liabilities
TOTAL liabilities
net assetS
TOTAL liabilities & net assets
liabilities and net assets
(in millions)
2013
2012
2011
$235
$226
$220
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STATEMENTS OF
Revenue, Expenses, and Changes in Net Assets
YEAR ENDED JUNE 30,
(IN THOUSANDS)
2013
2012
2011
$18,463
$17,800
$17, 295
51,201
50,375
59,096
4,537
6,139
3,140
74,201
74,312
79,531
Operating Expenses
37,180
39,713
38,388
Depreciation Expense
10,219
7,962
7,203
Housing Assistance Payments
31,597
30,767
28,244
TOTAL EXPENSES
78,996
78,442
73,835
Operating Profit (loss)
(4,795)
(4,130)
5,696
(266)
264
(1,886)
(5,061)
(3,866)
3,810
6,756
11,871
20,993
1,695
8,005
24,803
207,837
199,832
175,029
$209,532
$207,837
$199,832
OPERATING REVENUE
Dwelling Rental
Federal, State & Local Grants
Other Revenues
TOTAL OPERATING REVENUES
EXPENSES
Non-Operating Revenues (Expenses), Net
Net Income (loss) before Capital Grants
Capital Grants
Increase in Net Assets
Net Assets, Beginning of the Year, as Restated
NET ASSETS, END OF YEAR
20
STATEMENTS OF CASH FLOWS
YEAR ENDED JUNE 30,
(IN THOUSANDS)
2013
2012
2011
Cash Flows Provided by
Operating Activities
$4,228
$3,630
$27,832
Cash Flows used by Capital &
Related Financing Activities
(1,918)
(3,502)
(6,068)
2,842
160
(2640)
Net Increase in Cash
5,152
288
19,124
Cash and Cash Equivalent,
Beginning of Year
65,529
65,241
46,117
$70,681
$65,529
$65,241
Land
$31,109
$31,151
$31,139
Building and Improvement
313,274
302, 251
273,000
Furniture and Equipment
14,100
13,425
12,623
Construction in Progress
19,097
16,823
30,729
TOTAL capital assetS
377,580
363,650
347,491
Less Accumulated Depreciation
(247,670)
(237,546)
(229,730)
$129,910
$126,104
$117,761
Cash Flows Provided (Used) by
Investing Activities
cash and Cash equivalents,
end of year
CAPITAL ASSETS
capitaL assetS, net
21
THE HOUSING AUTHORITY OF the city of EL PASO
5300 EAST PAISANO DRIVE
EL PASO, texas 79905
WWW.HACEP.ORG
SPECIAL THANKS TO THE GRAPHIC DESIGN DEPARTMENT AT THE UNIVERSITY OF TEXAS AT EL PASO
DESIGNER : DAVID PADILLA /ART DIRECTOR : CLIVE COCHRAN
22