C. Effect on Personnel As a result of the reduction in funds made by the appropriation act and the proviso that no more than 20 percent of all employees paid from administrative funds could receive $4,500 per annum or more, drastic cuts of upper-level personnel were necessary as the new fiscal year opened. The administrative staff was reduced to a level of 2,018 full-time employees, a reduction of more than 50 percent below the previous year's employment level. Under the 20 percent limitation on higher-paid personnel, about two-thirds of the Administration's employees in policy making, supervisory and professional positions had to be discharged or demoted. TABLE 1.—All dwelling units owned or supervised by the PHA1, by program as of Dec. 31, 1947 Excludes units which have been sold to mutual housing associations, limited-dividend corporations (PWA), and homestead associations on which PHA holds mortgages for collection. This veterans' housing is considered for this purpose as being disposed of to local public bodies or educational institutions even though the improvements provided by PHA may not be wholly complete or title to them formally transferred. Includes accommodations allocated but with no local contract. Includes 1,423 rural units not yet built but which are parts of active rural projects. TABLE 2.-Number of active projects and dwelling units 1 owned or supervised by the Public Housing Administration, by program and State, Dec. 31, 1947 Num- Num- Num- Num- Num- Num- Num- Num- Num- Number ber ber ber ber ber ber ber ber ber projects units projects units projects units projects units projects units * Includes public war housing (Lanham constructed), Defense Homes Corporation, and homes conversion programs. Includes PWA projects. TABLE 3.-Number of dwelling units available for disposition and disposed of, by program, type of structure and accommodation, and method of disposition, Dec. 31, 1947 Program Disposed of Total. Public war housing (Lanham constructed).. Family dwelling. 627, 111 398, 834 197, 516 85, 869 38, 881 20, 235 20, 622 24,001 2, 468 5.440 172 18, 188 1,994 3,738 540, 715 314, 701 150, 545 80, 264 13, 213 20, 235| 4,930 24,001 2, 468 5, 434 441, 333 231, 360 83, 980 38, 729 9, 892 11, 267! TABLE 4.-U. S. Housing Act program, statement of income and expense for fiscal year ended June 30, 1947 U. S. Government bonds Obligations of local housing authorities. Public Works Administration limited dividend corpora tions.... Charged to PL-412 and PL-671 projects. Total interest. Other Total income.. $863, 612 73, 580 937, 192 2, 136, 046 810, 103 1,605, 824 4, 551, 973 13, 300 5, 502, 465 194, 925 7, 311, 082 55, 957 878, 108 8, 440, 072 256 13, 942, 793 TABLE 4.-U. S. Housing Act program, statement of income and expense for fiscal year ended June 30, 1947-Continued 1 Net income (or loss) before adjustment of valuation and operating reserves. Adjustments of reserves. Net income (or loss) 1 for the period. - 17,858, 361 13, 915, 568 1344, 526 14, 260, 094 Cumulative grants, subsidies and contributions: 1 $50, 544, 981 Grants, subsidies, and contributions for the period: Annual contributions___. Balance at end of period.. Undivided profits (or losses): 1 Balance at beginning of fiscal year.. Adjustments to beginning balance (increase or decrease) Net income (or loss) 1 for the period Balance at end of period.. Total unreserved surplus (or deficit) at end of period...... 1 Indicates negative item. |