FINANCE AND BUDGET
The LACDA’s FY 2018-19 budget totaled $515,690,700, an increase of $58,630,700, or 12.83%, from the FY 2017-18 budget of $457,060,000. The increase was largely due to the timing and completion of construction projects the agency was administering on behalf of the County. The increase was also due to the enactment of several Homeless Initiatives/Measure H strategies the LACDA administers.
Although the LACDA was faced with inevitable challenges in preparation of the FY 2018-19 budget, the agency continued to identify further improvements and optimal ways of managing available resources in order to accomplish our goals.
The budget consisted primarily of federal funding provided by the U.S. Department of Housing and Urban Development (HUD) for housing and community development programs. More than half of the budget is in support of the Housing Choice Voucher Program for families and seniors with limited means, persons with disabilities, and veterans. Local revenue sources include County funds, public housing rental income, and other grants received in support of housing.
The LACDA administers a flexible at-will personnel structure, utilizing a combination of regular and contract positions to meet service demands and respond to new funding opportunities and challenges. For FY 2018-19, the LACDA budgeted 547 regular positions and eight contract positions for a total of 555 positions. This represented a reduction of 25 positions from FY 2017-18 primarily due to decreased funding in HCV programs. Nonetheless, only vacant positions were decreased.