Green Bay Housing Authority — Green Bay, WI
Date: 2026-02-19
Time: 10:30

AGENDA OF THE
 GREEN BAY HOUSING AUTHORITY
 THURSDAY, FEBRUARY 19, 2026, 10:30 AM
 City Hall, Room 604 - The Harry Maier Room.
 Virtual attendance is also available via Zoom.


A. Zoom Meeting Information.
 1. Join Zoom Meeting Online:
 https://us02web.zoom.us/j/84862532810?pwd=y5BcNGbtdebIDHnboQut8ot4nI4EIh.1

 Or call in by phone: +1 312 626 6799
 Meeting ID: 848 6253 2810
 Passcode: 892180

 If you wish to leave a comment for this public meeting, please fill out the online Comment
 Form prior to the meeting. More detailed Zoom Instructions can be found online.
B. Roll Call.
 1. Members: William Vande Castle - Chair, Stephen Srubas - Vice Chair, Sandra Popp, Erin
 Edwards and Randy Scannell
C. Approval of the Agenda.
 1. Approval of the agenda for the Thursday, February 19, 2026, meeting of the Green Bay
 Housing Authority.
D. Approval of Minutes.
 1. Approval of the minutes from the November 20, 2025, meeting of the Green Bay Housing
 Authority.
E. Regular Business.
 1. Election of Officers: Chair, Vice-Chair and Secretary.
 2. Consideration with possible action on approval of the June 30, 2025, Audit Report.
Agenda of the Green Bay Housing Authority
February 19, 2026
Page 1
F. Informational.
 1. GBHA Bills.
 2. GBHA Financial Report.
 3. Director's Report.
 4. Occupancy Report.
 5. Next Meeting: Thursday, March 19, 2026.
G. Adjournment.
 1. Adjournment of the Thursday, February 19, 2026, meeting of the Green Bay Housing
 Authority.


 1) THIS MEETING IS RECORDED: THE VIDEO OF THIS MEETING AND MINUTES ARE AVAILABLE ONLINE
 AT www.greenbaywi.gov
 2) ACCESSIBILITY: Any person wishing to attend who requires special accommodation because of a disability,
 should contact the City Safety Manager at 920-448-3125 at least 48 hours before the scheduled meeting time so
 that arrangements can be made.
 3) QUORUM: Please take notice that a majority or quorum of the Common Council will attend this Green Bay
 Housing Authority meeting and will constitute a meeting of the Common Council for purposes of discussion and
 information gathering relative to this agenda.
 4) REPRESENTATION: The party requesting the communication, or their representative, should be present at this
 meeting.




Agenda of the Green Bay Housing Authority
February 19, 2026
Page 2

AGENDA OF THE
 GREEN BAY HOUSING AUTHORITY
 THURSDAY, FEBRUARY 19, 2026, 10:30 AM
 City Hall, Room 604 - The Harry Maier Room.
 Virtual attendance is also available via Zoom.


A. Zoom Meeting Information.
 1. Join Zoom Meeting Online:
 https://us02web.zoom.us/j/84862532810?pwd=y5BcNGbtdebIDHnboQut8ot4nI4EIh.1

 Or call in by phone: +1 312 626 6799
 Meeting ID: 848 6253 2810
 Passcode: 892180

 If you wish to leave a comment for this public meeting, please fill out the online Comment
 Form prior to the meeting. More detailed Zoom Instructions can be found online.
B. Roll Call.
 1. Members: William Vande Castle - Chair, Stephen Srubas - Vice Chair, Sandra Popp, Erin
 Edwards and Randy Scannell
C. Approval of the Agenda.
 1. Approval of the agenda for the Thursday, February 19, 2026, meeting of the Green Bay
 Housing Authority.
D. Approval of Minutes.
 1. Approval of the minutes from the November 20, 2025, meeting of the Green Bay Housing
 Authority.
E. Regular Business.
 1. Election of Officers: Chair, Vice-Chair and Secretary.
 2. Consideration with possible action on approval of the June 30, 2025, Audit Report.
Agenda of the Green Bay Housing Authority
February 19, 2026
Page 1
F. Informational.
 1. GBHA Bills.
 2. GBHA Financial Report.
 3. Director's Report.
 4. Occupancy Report.
 5. Next Meeting: Thursday, March 19, 2026.
G. Adjournment.
 1. Adjournment of the Thursday, February 19, 2026, meeting of the Green Bay Housing
 Authority.


 1) THIS MEETING IS RECORDED: THE VIDEO OF THIS MEETING AND MINUTES ARE AVAILABLE ONLINE
 AT www.greenbaywi.gov
 2) ACCESSIBILITY: Any person wishing to attend who requires special accommodation because of a disability,
 should contact the City Safety Manager at 920-448-3125 at least 48 hours before the scheduled meeting time so
 that arrangements can be made.
 3) QUORUM: Please take notice that a majority or quorum of the Common Council will attend this Green Bay
 Housing Authority meeting and will constitute a meeting of the Common Council for purposes of discussion and
 information gathering relative to this agenda.
 4) REPRESENTATION: The party requesting the communication, or their representative, should be present at this
 meeting.




Agenda of the Green Bay Housing Authority
February 19, 2026
Page 2
 Report to the
 Housing Authority
 of the City of Green Bay


 MEETING DATE PREPARED BY
 February 19, 2026 Ka Vang, Staff

AGENDA ITEM # D.1
Approval of the minutes from the November 20, 2025, meeting of the Green Bay Housing Authority.

BACKGROUND


RECOMMENDATION


FISCAL IMPACT


ATTACHMENTS
1. GBHAMINS 11.20.2025 MTG




 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026
 (p) 920.448.3400 (f) 920.448.3426  greenbaywi.gov
 MINUTES OF THE
 GREEN BAY HOUSING AUTHORITY
 THURSDAY, NOVEMBER 20, 2025, 10:30 AM
 City Hall, Room 604 - The Harry Maier Room.
 Virtual attendance is also available via Zoom.


 A. ZOOM MEETING INFORMATION.

1. Join Zoom Meeting Online:
 https://us02web.zoom.us/j/81434999289?pwd=N0dlMGxWSS85SGswK2lZeGhZZUN0UT09

 Or call in by phone: +1 312 626 6799
 Meeting ID: 814 3499 9289
 Passcode: 483400

 If you wish to speak at this public meeting or leave a comment, please fill out the online
 Comment Form prior to the meeting. More detailed Zoom Instructions can be found online.




 B. ROLL CALL.

1. Members: William VandeCastle - chair, Stephen Srubas - vice chair, Sandra Popp, Erin
 Edwards, Randy Scannell

 Meeting began 10:34AM
 Present: William VandeCastle-Chair, Stephen Srubas-Vice Chair, Erin Edwards, Excused:
 Randy Scannell, Sandra Popp, Absent:None

 C. APPROVAL OF THE AGENDA.

1. Approval of the agenda for the Thursday, November 20, 2025, meeting of the Green Bay
 Housing Authority.

 Moved by Erin Edwards, seconded by Stephen Srubas to approve the agenda for the
 November 20, 2025 meeting of the Green Bay Housing Authority. Motion carried. Yes-
 William VandeCastle, Stephen Srubas, Erin Edwards, No:None, Abstain:None

 D. APPROVAL OF MINUTES.

1. Approval of the minutes from the July 30th, 2025, meeting.

 Moved by Stephen Srubas, seconded by Erin Edwards to approve the minutes from the July
 30th, 2025 meeting of the Green Bay Housing Authority. Motion carried. Yes-William
 VandeCastle, Stephen Srubas, Erin Edwards, No:None, Abstain:None

 E. REGULAR BUSINESS.

1. Consideration with possible action to consider initial resolution No. 2025-04 regarding
 housing revenue bonds financing for GenCap Green Bay Fire Station Apartments, LLC for
 the development of 420 S. Broadway, 402 S. Broadway, 421 Arndt Street, and portions of
 419 Maple Avenue.

 Moved by Stephen Srubas, seconded by Erin Edwards to open the floor for the public to
 speak. Motion carried. Yes-William VandeCastle, Stephen Srubas, Erin Edwards, No:None,
 Abstain:None

 Cheryl Renier-Wigg speaks 10:36AM
 Sig Strautmanis speaks 10:37AM
 David Weiss speaks 10:41AM
 Josh Hafron speaks 10:48AM

 Moved by Erin Edwards, seconded by William VandeCastle to close the floor for the public
 to speak. Motion carried. Yes-William VandeCastle, Stephen Srubas, Erin Edwards, No:None,
 Abstain:None

 Moved by William VandeCastle, seconded by Erin Edwards to approve the initial resolutions
 No. 2025-04 regarding housing revenue bonds financing for GenCap Green Bay Fire Station
 Apartments, LLC for the development of 420 S. Broadway, 421 Arndt Street and portions of
 419 Maple Avenue. Motion carried. Yes-William VandeCastle, Stephen Srubas, Erin Edwards,
 No:None, Abstain:None

 F. INFORMATIONAL.

1. GBHA Bills.
 Stephanie Schmutzer presents the GBHA Bills. No action needed.

2. GBHA Financial Report.

 Stephanie Schmutzer presents the GBHA Financial Report. No action needed.

3. Director's Report.

 Cheryl Renier-Wigg presents the Director's Report. No action needed.

4. Occupancy Report.

 Ka Vang presents the Occupany Report. No action needed.

5. Next Meeting: To be determined




 G. ADJOURNMENT.

1. Adjournment of the Thursday, November 20, 2025, meeting of the Green Bay Housing
 Authority.

 Moved by Stephen Srubas, seconded by Erin Edwards to adjourn the November 20, 2025
 meeting of the Green Bay Housing Authority. Motion carried. Yes-William VandeCastle,
 Stephen Srubas, Erin Edwards, No:None, Abstain:None
 Report to the
 Housing Authority
 of the City of Green Bay


 MEETING DATE PREPARED BY
 February 19, 2026 Cheryl Renier-Wigg, Staff

AGENDA ITEM # E.1
Election of Officers: Chair, Vice-Chair and Secretary.

BACKGROUND
Current officers:
Chair- Bill Vande Castle
Vice-Chair- Stephen Srubas
Secretary- Cheryl Renier-Wigg

RECOMMENDATION


FISCAL IMPACT


ATTACHMENTS
None




 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026
 (p) 920.448.3400 (f) 920.448.3426  greenbaywi.gov
 Report to the
 Housing Authority
 of the City of Green Bay


 MEETING DATE PREPARED BY
 February 19, 2026 Stephanie Schmutzer, Staff

AGENDA ITEM # E.2
Consideration with possible action on approval of the June 30, 2025, Audit Report.



BACKGROUND
Hawkins Ash CPA’s, an independent audit firm, has completed the annual audit for the Green Bay Housing
Authority. A summary of the audit information can be found in the Management Discussion and Analysis
portion of the audit report. We are seeking approval of the June 30, 2025, audited financial reports in
conjunction with GBHA Properties 1, Inc.

RECOMMENDATION
To approve the June 30, 2025, Audit Report.

FISCAL IMPACT


ATTACHMENTS
1. GBHA FS-final
2. GBHA ML-final




 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026
 (p) 920.448.3400 (f) 920.448.3426  greenbaywi.gov
HOUSING AUTHORITY OF THE
 CITY OF GREEN BAY
 Green Bay, Wisconsin

 FINANCIAL STATEMENTS
WITH INDEPENDENT AUDITORS'
 REPORT

 JUNE 30, 2025
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin

 TABLE OF CONTENTS

 JUNE 30, 2025

Page

 2-4 Independent Auditors' Report

 5-7 Management’s Discussion and Analysis (MD&A)

 BASIC FINANCIAL STATEMENTS

  8 Statement of Net Position

  9 Statement of Revenue, Expenses, and Changes in Net Position

10-11 Statement of Cash Flows

12-22 Notes to the Basic Financial Statements

 SUPPLEMENTARY INFORMATION

23-24 Combining Statement of Net Position

  25 Combining Statement of Revenue, Expenses, and Changes in Net Position

26-27 Combining Statement of Cash Flows

  28 Statements and Certifications of Actual Modernization Costs

  29 Schedule of Expenditures of Federal Awards

 OTHER REPORT

30-31 Independent Auditors’ Report on Internal Control Over Financial Reporting and on
 Compliance and Other Matters Based on an Audit of the Financial Statements
 Performed in Accordance With Government Auditing Standards

32-34 Independent Auditors’ Report on Compliance for Each Major Federal Program and on
 Internal Control Over Compliance Received by the Uniform Guidance

35-37 Schedule of Findings and Questioned Costs




 -1-
 INDEPENDENT AUDITORS' REPORT


To the Board of Commissioners
Housing Authority of the City of Green Bay
Green Bay, Wisconsin

Report on the Audit of the Financial Statements

Opinions

We have audited the financial statements of the Housing Authority of the City of Green Bay (the
“Housing Authority”) as of and for the year ended June 30, 2025, and the discretely presented
component unit as of December 31, 2024, and the related notes to the financial statements, which
collectively comprise the Housing Authority’s basic financial statements as listed in the table of
contents.

In our opinion, the accompanying financial statements present fairly, in all material respects, the
respective financial position of the Housing Authority, as of June 30, 2025, and the respective changes
in financial position, and, where applicable, cash flows thereof for the year then ended in accordance
with accounting principles generally accepted in the United States of America.

We did not audit the financial statements of the discretely presented component unit, which represent
100 percent of the assets, net position, and revenue of the discretely presented component unit. Those
financial statements were audited by another auditor whose report thereon has been furnished to us,
and our opinion, insofar as it relates to the amounts included for discretely presented component units,
is based solely on the report of the other auditor.


Basis for Opinions

We conducted our audit in accordance with auditing standards generally accepted in the United States
of America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Our responsibilities under those
standards are further described in the Auditors’ Responsibilities for the Audit of the Financial
Statements section of our report. We are required to be independent of the Housing Authority, and to
meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to
our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our audit opinions.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or error.


 -2-
In preparing the financial statements, management is required to evaluate whether there are conditions
or events, considered in the aggregate, that raise substantial doubt about the Housing Authority’s ability
to continue as a going concern for twelve months beyond the financial statement date, including any
currently known information that may raise substantial doubt shortly thereafter.

Auditors’ Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.

In performing an audit in accordance with GAAS and Government Auditing Standards, we:

  Exercise professional judgment and maintain professional skepticism throughout the audit.
  Identify and assess the risks of material misstatement of the financial statements, whether
 due to fraud or error, and design and perform audit procedures responsive to those risks.
 Such procedures include examining, on a test basis, evidence regarding the amounts and
 disclosures in the financial statements.
  Obtain an understanding of internal control relevant to the audit in order to design audit
 procedures that are appropriate in the circumstances, but not for the purpose of expressing
 an opinion on the effectiveness of the Housing Authority’s internal control. Accordingly, no
 such opinion is expressed.
  Evaluate the appropriateness of accounting policies used and the reasonableness of
 significant accounting estimates made by management, as well as evaluate the overall
 presentation of the financial statements.
  Conclude whether, in our judgment, there are conditions or events, considered in the
 aggregate, that raise substantial doubt about the Housing Authority’s ability to continue as a
 going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control-related
matters that we identified during the audit.

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis on pages 5 through 7 be presented to supplement the basic financial statements.
Such information is the responsibility of management and, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management’s responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.




 -3-
Supplementary Information

Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively
comprise the Housing Authority’s basic financial statements. The combining financial statements,
statement and certification of actual modernization costs, and the schedule of expenditures of federal
awards as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), and the
Department of Housing and Urban Development are presented for purposes of additional analysis are not
a required part of the basic financial statements. Such information is the responsibility of management and
were derived from and relate directly to the underlying accounting and other records used to prepare the
financial statements. The information has been subjected to the auditing procedures applied in the audit of
the basic financial statements and certain additional procedures, including comparing and reconciling such
information directly to the underlying accounting and other records used to prepare the basic financial
statements or to the basic financial statements themselves, and other additional procedures in accordance
with auditing standards generally accepted in the United States of America. In our opinion, the combining
financial statements, statements and certifications of actual modernization costs, and schedule of
expenditures of federal awards are fairly stated in all material respects in relation to the basic financial
statements as a whole.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated January 20,
2026, on our consideration of the Housing Authority's internal control over financial reporting and on our
tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and
other matters. The purpose of that report is solely to describe the scope of our testing of internal control
over financial reporting and compliance and the results of that testing, and not to provide an opinion on
the effectiveness of the Housing Authority's internal control over financial reporting or on compliance.
That report is an integral part of an audit performed in accordance with Government Auditing Standards
in considering the Housing Authority’s internal control over financial reporting and compliance.




La Crosse, Wisconsin
January 20, 2026




 -4-
HOUSING AUTHORITY OF THE CITY OF GREEN
 BAY
 Green Bay, Wisconsin

 MANAGEMENT’S DISCUSSION AND ANALYSIS
 (MD&A)
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 MANAGEMENT DISCUSSION AND ANALYSIS
 YEAR ENDED JUNE 30, 2025


The management of the Housing Authority of the City of Green Bay (PHA) offers this narrative overview
and analysis of its audited financial statements for fiscal year ended June 30, 2025. The goal is for the
reader to better understand the PHA’s financial activities and its overall financial position and to show
whether current year revenue covered current year expenses and the extent to which the PHA has
invested its capital assets. We encourage readers to consider the information presented here in
conjunction with the PHA’s financial statements, which begin on page 8.

FINANCIAL HIGHLIGHTS:

  The assets of the PHA exceed its liabilities as of June 30, 2025 by $19,089,881 (Net Position).

  The PHA’s net investment in capital assets as of June 30, 2025 was $484,471.

  The PHA’s total revenue for the fiscal year ended June 30, 2025 was $1,482,983.

  The PHA’s total expenses for the fiscal year ended June 30, 2025 was $2,637,593.
 Therefore, the PHA’s total combined expenses exceeded its total combined revenues by
 $1,154,610.

OVERVIEW OF THE FINANCIAL STATEMENTS:

The following financial statements are included in this report:

  Statement of Net Position - reports the PHA’s current financial resources: its cash and other
 current assets, its current and non-current liabilities and comparing those two elements, the
 resulting net position of the PHA. A comparison between this year and the preceding year is also
 provided.

  Statement of Revenue, Expenses, and Changes in Net Position - reports the PHA’s various
 revenue and expenses and provides a comparison between this year and the preceding year.

 Statement of Cash Flows - reports cash inflows and outflows for the PHA’s fiscal year.




 -5-
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 MANAGEMENT DISCUSSION AND ANALYSIS - Continued
 YEAR ENDED JUNE 30, 2025

ANALYSIS OF FINANCIAL STATEMENTS:

 STATEMENT OF NET POSITION
 INCREASE
 2025 2024 (DECREASE)

 Cash and cash equivalents $2,805,419 $4,670,860 $(1,865,441)
 Cash and cash equivalents - restricted - - -
 Other current assets 16,967 39,656 (22,689)
 Capital assets 484,471 484,471 -
 Other noncurrent assets 16,671,475 16,683,570 (12,095)
 TOTAL ASSETS 19,978,332 21,878,557 (1,900,225)
 Current liabilities 23,693 733,214 (709,521)
 Noncurrent liabilities 13,846 9,883 3963
 TOTAL LIABILITIES 37,539 783,154 (745,615)

 Ground Lease 850,912 850,912 -
 TOTAL DEFERRED INFLOWS
 OF RESOURCES 850,912 850,912 -
 Net investment in capital assets 484,471 484,471 -
 Unrestricted 18,605,410 19,760,020 (1,154,610)
 TOTAL NET POSITION 19,089,881 20,244,491 (1,154,610)
Total decrease in assets is due to the payment to Gorman & Co. for rehab of Mason Manor and the
Scattered Sites. The decrease in current liabilities is mainly due to expending Capital funds drawn in
prior year.

ANALYSIS OF STATEMENT OF REVENUE, EXPENSES, AND CHANGE IN NET POSITION
PRIOR AND CURRENT FISCAL YEAR:
 YEAR ENDED JUNE 30,
 2025 2024
 AMOUNT % AMOUNT %
REVENUE
  Tenant rents and other charges $ - 0 $ 441,408 3
  HUD operating and capital grants 920,853 62 1,518,673 10
  Other operating revenue 343,772 23 264,451 2
  Interest 218,358 15 187,678 1
  Gain on fixed asset disposal - 0 12,034,365 84
 TOTAL REVENUE 1,482,983 100 14,446,575 100
EXPENSES
  Administration 138,340 5 246,692 14
  Tenant services 75,090 3 101,762 6
  Utilities - 0 63,110 3
  Maintenance and operations - 0 162,647 10
  General expenses 10,949 1 1,108,427 62
  Construction Investment 2,413,214 91 - 0
  Depreciation - 0 97,301 5
 TOTAL EXPENSES 2,637,593 100 1,779,939 100

 NET INCREASE (DECREASE) $(1,154,610) $12,666,636


 -6-
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 MANAGEMENT DISCUSSION AND ANALYSIS - Continued
 YEAR ENDED JUNE 30, 2025

ANALYSIS OF STATEMENT OF REVENUE, EXPENSES, AND CHANGE IN NET POSITION
PRIOR AND CURRENT FISCAL YEAR - Continued
The PHA’s HUD operating and capital grants revenue for fiscal year 2025 was $920,853 as compared to
$1,518,673 in the fiscal year 2024. This decrease is primarily a result of closing out the remaining capital
funds from U.S. Department of Housing and Urban Development (HUD).
Tenant rents and other charges revenue decreased to $0 during fiscal year 2025. This was due to tenant
accounts moving to a new entity for management.

There was a decrease of $162,647 in maintenance and operations expenses between the two years
from $162,647 in 2024 to $0 2025. This decrease resulted from maintenance holding on projects that
are now addressed by the new managing entity.

BUDETARY HIGHLIGHTS
The PHA adopts a consolidated annual operating budget for all programs. The budget for Public Housing is
adopted on the basis of accounting practices prescribed to by the U.S. Department of Housing and Urban
Development (HUD). Program budgets for the Capital Fund Program (CFP) funds are approved by HUD on
a basis consistent with the grant applications covering the programs.

CAPITAL ASSETS
 2025 2024
Non-depreciable assets:
 Land $ 484,471 $ 484,471
Depreciable assets:
 Building and improvements - -
 Machinery and equipment 6,012 6,012
Accumulated depreciation (6,012) (6,012)
 TOTAL $ 484,471 $ 484,471

ECONOMIC & OTHER FACTORS
Significant economic factors affecting the Authority’s financial position are as follows:

  Green Bay’s unemployment rate was 2.5% in 2025, up 0.3% from 2024. Green Bay’s unemployment
 rate of 2.5% is less than the State average of 3.1% and the National average of 4.4%. The worker
 shortage plays a major part in these statistics.
CONTACTING THE PHA’S FINANCIAL MANAGEMENT
The financial report is designed to provide a general overview of the PHA’s finances for all those with an
interest. Questions concerning any of the information provided in this report or requests for additional
information should be addressed to the Executive Director, Housing Authority of the City of Green Bay,
100 N Jefferson Street, Room 608, Green Bay, WI 54301.




 -7-
HOUSING AUTHORITY OF THE CITY OF GREEN
 BAY
 Green Bay, Wisconsin

 BASIC FINANCIAL STATEMENTS
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 STATEMENT OF NET POSITION



 PRIMARY COMPONENT
 GOVERNMENT UNIT TOTAL
 JUNE 30, DECEMBER 31, (MEMORANDUM
ASSETS 2025 2024 ONLY)

CURRENT ASSETS
 Cash and cash equivalents $ 2,805,419 $ 687,984 $ 3,493,403
 Cash and cash equivalents - restricted - 3,072,650 3,072,650
 Receivables
 Tenants - 52,662 52,662
 Interest 1,877 - 1,877
 Other - 10,438 10,438
 Current portion of loans receivable 15,090 - 15,090
 Prepaid expenses - 112,887 112,887
 TOTAL CURRENT ASSETS 2,822,386 3,936,621 6,759,007

NONCURRENT ASSETS
 Loans receivable 15,820,563 - 15,820,563
 Ground lease receivable 850,912 - 850,912
 Capital assets, net of accumulated depreciation 484,471 23,039,217 23,523,688
 Leased assets, net of accumulated amortization - 15,229,606 15,229,606
 Miscellaneous other assets - 105,650 105,650
 TOTAL NONCURRENT ASSETS 17,155,946 38,374,473 55,530,419

 TOTAL ASSETS $ 19,978,332 $ 42,311,094 $ 62,289,426

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION

CURRENT LIABILITIES
 Accounts payable $ 15,085 $ 3,048,885 $ 3,063,970
 Accrued payroll 3,993 - 3,993
 Accrued interest - 73,301 73,301
 Accrued liabilities - other - 91,669 91,669
 Compensated absences 4,615 - 4,615
 Unearned revenue - 71,064 71,064
 Tenants' security deposits - 67,432 67,432
 Current portion of long-term obligations - 573,871 573,871
 TOTAL CURRENT LIABILITIES 23,693 3,926,222 3,949,915

NONCURRENT LIABILITIES
 Compensated absences 13,846 - 13,846
 Notes payable - 32,622,492 32,622,492
 Lease liability - 831,752 831,752
 Other long-term liabilities - 3,781,714 3,781,714
 TOTAL NONCURRENT LIABILITIES 13,846 37,235,958 37,249,804


 TOTAL LIABILITIES 37,539 41,162,180 41,199,719

DEFERRED INFLOWS OF RESOURCES
 Ground Lease 850,912 - 850,912

NET POSITION
 Net investment in capital assets 484,471 5,359,463 5,843,934
 Unrestricted 18,605,410 (4,210,549) 14,394,861
 TOTAL NET POSITION 19,089,881 1,148,914 20,238,795


 TOTAL LIABILITIES, DEFERRED INFLOWS
 RESOURCES AND NET POSITION $ 19,978,332 $ 42,311,094 $ 62,289,426




 The accompanying notes are an integral part of these financial statements.

 -8-
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 STATEMENT OF REVENUE, EXPENSES, AND
 CHANGES IN NET POSITION


 PRIMARY COMPONENT
 GOVERNMENT UNIT
 YEAR ENDED YEAR ENDED TOTAL
 JUNE 30, DECEMBER 31, (MEMORANDUM
 2025 2024 ONLY)
OPERATING REVENUE
 Tenant rents and other charges $ - $ 1,918,684 $ 1,918,684
 Operating grants 920,853 - 920,853
 Other operating revenue 343,772 44,488 388,260
 TOTAL OPERATING REVENUE 1,264,625 1,963,172 3,227,797

OPERATING EXPENSES
 Administration 138,340 1,011,420 1,149,760
 Tenant services 75,090 55,018 130,108
 Utilities - 174,138 174,138
 Maintenance and operations - 477,683 477,683
 General expenses 10,949 276,790 287,739
 Depreciation and amortization - 651,458 651,458
 TOTAL OPERATING EXPENSES 224,379 2,646,507 2,870,886

 OPERATING INCOME (LOSS) 1,040,246 (683,335) 356,911

NONOPERATING REVENUE
 Interest income 218,358 59,976 278,334
 Interest expense - (730,092) (730,092)
 Special items (2,413,214) - (2,413,214)
 TOTAL NONOPERATING REVENUE (2,194,856) (670,116) (2,864,972)

 CHANGE IN NET POSITION (1,154,610) (1,353,451) (2,508,061)

NET POSITION AT BEGINNING OF YEAR 20,244,491 - 20,244,491

SUBSCRIPTION RECEIPTS - 2,515,456 2,515,456

SYNDICATION COSTS - (13,091) (13,091)

NET POSITION AT END OF YEAR $ 19,089,881 $ 1,148,914 $ 20,238,795




 The accompanying notes are an integral part of these financial statements.

 -9-
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 STATEMENT OF CASH FLOWS


 PRIMARY COMPONENT
 GOVERNMENT UNIT
 YEAR ENDED YEAR ENDED TOTAL
 JUNE 30, DECEMBER 31, (MEMORANDUM
 2025 2024 ONLY)
CASH FLOWS FROM OPERATING ACTIVITIES
 Cash receipts:
 Tenant rents and other charges $ - $ 1,994,080 $ 1,994,080
 HUD operating grants 200,761 - 200,761
 Other operating receipts 343,772 44,488 388,260
 Total cash receipts 544,533 2,038,568 2,583,101

 Cash disbursements:
 Vendors and suppliers (27,890) (1,461,797) (1,489,687)
 Employees compensation and benefits (205,890) (409,528) (615,418)
 Insurance (3,000) - (3,000)
 Total cash disbursements (236,780) (1,871,325) (2,108,105)

 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVIITIES 307,753 167,243 474,996

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
 Capital contributions - 2,515,456 2,515,456
 Payment of loan receivable 21,662 17,126,948 17,148,610
 Acquisition of capital assets - (15,593,427) (15,593,427)
 Debt issuance costs - (120,331) (120,331)
 Tax credit fees - (105,650) (105,650)
 Special items (2,413,214) - (2,413,214)
 Interest paid - (289,581) (289,581)
 NET CASH PROVIDED BY (USED IN) CAPITAL AND RELATED
 FINANCING ACTIVITIES (2,391,552) 3,533,415 1,141,863

CASH FLOWS FROM INVESTING ACTIVITIES
 Interest received 218,358 59,976 278,334

 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,865,441) 3,760,634 1,895,193

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 4,670,860 - 4,670,860

CASH AND CASH EQUIVALENTS AT END OF YEAR $ 2,805,419 $ 3,760,634 $ 6,566,053

 (Continued on page 11)




 The accompanying notes are an integral part of these financial statements.

 - 10 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 STATEMENT OF CASH FLOWS - Continued



 PRIMARY COMPONENT
 GOVERNMENT UNIT
 YEAR ENDED YEAR ENDED TOTAL
 JUNE 30, DECEMBER 31, (MEMORANDUM
 2025 2024 ONLY)
RECONCILIATION OF CASH AND CASH EQUIVALENTS PER STATEMENT
OF CASH FLOWS TO THE STATEMENT OF NET POSITION

Cash and cash equivalents $ 2,805,419 $ 687,984 $ 3,493,403
Cash and cash equivalents - restricted - 3,072,650 3,072,650
 CASH AND CASH EQUIVALENTS PER STATEMENT OF
 NET POSITION $ 2,805,419 $ 3,760,634 $ 6,566,053

RECONCILIATION OF INCOME (LOSS) FROM OPERATIONS TO NET CASH
PROVIDED BY (USED IN) OPERATING ACTIVITIES

Operating income (loss) $ 1,040,246 $ (683,335) $ 356,911
Adjustments to reconcile operating income to net cash provided by (used in)
 operating activities
 Depreciation and amortization - 651,458 651,458
 Operating lease expense - 3,939 3,939
Changes in assets and liabilities
 Decrease (increase) in assets
 Accounts receivable - (63,100) (63,100)
 Due from other governments 13,122 - 13,122
 Prepaid expenses - (112,887) (112,887)
 Increase (decrease) in liabilities
 Accounts payable 5,146 103,741 108,887
 Accrued payroll (22,831) - (22,831)
 Accrued expenses - 91,669 91,669
 Compensated absences 5,284 - 5,284
 Unearned revenue - 71,064 71,064
 Tenants' security deposits - 67,432 67,432
 Due to other governments (733,214) - (733,214)
 Operating lease liability - 37,262 37,262
 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ 307,753 $ 167,243 $ 474,996




 The accompanying notes are an integral part of these financial statements.

 - 11 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS
 JUNE 30, 2025

NOTE 1 - Summary of Significant Accounting Policies

Reporting Entity - The Housing Authority of the City of Green Bay (the “Housing Authority”) is a
separate governmental entity created for the purpose of constructing, maintaining, and operating public
housing and providing rental assistance to low income, disabled, and elderly persons. Most of the
Housing Authority's funding is provided by the United States Department of Housing and Urban
Development (HUD). All programs of the Housing Authority are included in these statements.

In accordance with Statement No. 61, Governmental Accounting Standards Board (GASB), the basis
criterion for including a legally separate organization as a component unit is the degree of financial
accountability the Housing Authority has with the Organization. The following circumstances set forth
the Housing Authority’s financial accountability for a legally separate organization:

a. The Housing Authority is financially accountable if it appoints a voting majority of the
 Organization’s governing body and (1) it is able to impose its will on the Organization or (2) there
 is a potential for the Organization to provide specific financial benefits to, or impose specific
 financial burdens on the Housing Authority.

b. The Housing Authority may be financially accountable if an organization is fiscally dependent on
 the Housing Authority regardless of whether the Organization has (1) a separately elected
 governed board, (2) a governing board appointed by a higher level of government, or (3) a jointly
 appointed board.

Based upon the application of these criteria, this report includes the following two component units:

The Housing Authority is financially accountable for GBHA Properties. Its purpose is to provide housing
and community development projects that are outside the range of services the Housing Authority can
provide under State and Federal regulations. GBHA Properties does not have separately issued
financial statements. GBHA Properties is shown as a blended component unit.

Green Bay Housing Authority Properties, LLC was organized on November 30, 2022, as a limited
liability company formed under the Wisconsin Limited Liability Company Act, to lease, rehabilitate, and
operate two locations consisting of a 152-unit housing project known as Mason Manor Tower Building
and a scattered site location consisting of 42 buildings that include 48 total units known as Mason
Manor Scattered Sites, located in Green Bay, Wisconsin. The Project is regulated by the Wisconsin
Housing and Economic Development Authority (WHEDA). The Project qualifies for low-income housing
tax credits pursuant to Section 42 of the Internal Revenue Code (IRC). Green Bay Housing Authority
Properties, LLC is shown as a discretely presented component unit because the Housing Authority is
financially accountable, but they do not have full ownership over the entity.

Programs Administered by the Housing Authority - The programs of the Housing Authority are
recorded in one enterprise fund. Each program is maintained using a separate set of self-balancing
accounts. The Housing Authority operates the following programs:

Public Housing - consists of HUD-financed public housing owned by the Housing Authority.

Capital Funds - consists of modernization projects in progress.

Revenue Bond Program - consists of an accumulation of fees charged to private concerns in
connection with the issuance of Housing Authority Revenue Bonds which can be used for housing
related projects at the Housing Authority’s discretion.

 - 12 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 1 - Summary of Significant Accounting Policies - Continued

Resident Opportunities and Self-Sufficient (ROSS) Program - consists of activities for public housing
residents including supportive services, resident empowering activities, and assistance in becoming
economically self-sufficient.

Central Office Cost Center (COCC) - consists of a separate business unit within the Housing Authority
that earns income from fees for centralized services

Basis of Accounting and Measurement Focus - The Housing Authority’s basic financial statements
are presented on the full accrual basis in accordance with accounting principles generally accepted in
the United States of America (U.S. GAAP), as applied to governmental units. The Governmental
Accounting Standards Board (GASB) is the accepted standard-setting body for establishing
governmental accounting and financial reporting principles. The discretely presented component unit is
presented on the accrual basis of accounting in accordance with U.S. GAAP and has been conformed
to GASB standards. .

All activities of the Housing Authority are accounted for within one proprietary (enterprise) fund. A
proprietary fund is used to account for operations that are (a) financed and operated in a manner similar
to private business enterprises where the intent of the governing body is that the cost (expenses,
including depreciation) of providing goods and services to the general public on a continuing basis be
financed or recovered primarily through user charges; or (b) where the governing body has decided that
periodic determination of revenue earned, expenses incurred, and/or net income is appropriate for capital
maintenance, public policy, management control, accountability, or other purposes.

A proprietary fund distinguishes operating revenue and expenses from non-operating items. Operating
revenue and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund’s principal ongoing operations. The principal operating revenue of
the Housing Authority is rents collected from tenants and operating grants. Operating expenses for
proprietary funds include the cost of operating properties owned, administrative expenses, and
depreciation on capital assets. All revenue and expenses not meeting this definition are reported as
non-operating revenue and expenses.

The accounting and financial reporting treatment applied to the Housing Authority is determined by its
measurement focus. The transactions of the Housing Authority are accounted for on a flow of economic
resources measurement focus. With this measurement focus, all assets and all liabilities associated
with the operations are included on the statement of net position. Net position (i.e., total assets net of
total liabilities) is segregated into net investment in capital assets, restricted, and unrestricted. When
both restricted and unrestricted resources are available for use, it is the Housing Authority’s policy to
use restricted resources first, and then unrestricted resources as they are needed.

Cash and Cash Equivalents - For purposes of the statement of cash flows, the Housing Authority
considers all highly liquid investments purchased with a maturity of three months or less to be cash
equivalents.

Cash and Cash Equivalents - Restricted - Restricted cash and cash equivalents are segregated
resources for tenants’ security deposits, replacement reserves, operating reserves, lease-up reserves,
and construction cash.

Accounts Receivable - Tenant accounts receivable are recorded at gross amounts with uncollectible
amounts recognized under the direct write-off method.

 - 13 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 1 - Summary of Significant Accounting Policies - Continued

Capital Assets - Purchased capital assets are valued at historical cost or estimated historical cost if
actual historical cost is not available. Donated capital assets are valued at their estimated fair value on
the date donated. The Housing Authority capitalizes all assets with a cost of $5,000 or greater and a
useful life of one year or more. Buildings and equipment are carried at cost or estimated fair value and
depreciated using the straight-line method of depreciation over their estimated useful lives as follows:

 Land improvements 10 years
 Buildings and improvements 10-40 years
 Machinery and equipment 3-7 years

Impairment of Long-Lived Assets - The Housing Authority reviews its capital assets for impairment
whenever events or changes in circumstances indicate that the carrying value of an asset may not be
recovered. If the fair value is less than the carrying value of an asset, an impairment loss is recognized
for the difference. No impairment loss has been recognized during the year ended June 30, 2025.

Compensated Absences - Compensated absences are those absences that accumulate and can be
used or for which employees will be paid, such as vacation and sick leave. A liability for compensated
absences that is attributable to services already rendered and that are not contingent on a specific event
that is outside the control of the Housing Authority and its employees, is accrued when benefits are more
likely than not to be used or otherwise paid. Compensated absences that relate to future services or that
are contingent on a specific event that is outside the control of the Housing Authority and its employees,
are accounted for in the period in which such services are rendered or in which such events take place.

Deferred Outflows and Inflows of Resources - In addition to assets, the statement of net position will
sometimes report a separate section for deferred outflows of resources. This separate financial statement
element represents a consumption of net position that applies to a future period and will not be
recognized as an outflow of resources (expenditure) until then. The Housing Authority does not have any
items that qualify for reporting in this category.

In addition to liabilities, the statement of net position will sometimes report a separate section for deferred
inflows of resources. This separate financial statement element represents an acquisition of net position
which applies to future periods and so will not be recognized as an inflow of resources (revenue) until
then. The Housing Authority has one item that qualifies for reporting in this category and that is for the
amount of future Ground Leases payments with Green Bay Housing Authority Properties, LLC.
Leases - The Housing Authority is a lessor because it leases land to other entities. The lease receivable
is measured using the present value of payments to be received during the lease term. The
corresponding deferred inflows of resources are recognized as inflows over the lease term.

Green Bay Housing Authority Properties, LLC is a lessee because it leases capital assets from other
entities. The lease liability is measured using the present value of payments to be made during the
lease term. The corresponding intangible right-to-use capital asset is amortized over the shorter of the
lease term or the useful life.
Net Position Classifications - Net position represents the difference between the total assets and the
total liabilities. Net investment in capital assets consists of capital assets, net of accumulated
depreciation, reduced by the outstanding balances of any borrowings used for the acquisition,
construction or improvement for those assets. Net position is reported as restricted when there are
limitations imposed on their use through external restrictions imposed by creditors, grantors or laws or
regulations of other governments.

 - 14 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 1 - Summary of Significant Accounting Policies - Continued
Federal Aids - Federal aids for reimbursable programs are recognized as revenue in the year related
program expenditures are incurred. Aids received prior to meeting revenue recognition criteria are
recorded as unearned revenue.

Employee Retirement Plan - The Housing Authority participates in the City of Green Bay, Wisconsin’s
retirement plan, covering all of its eligible employees, which is funded through contributions to the
Wisconsin Retirement System (WRS).

Due To/From Other Programs - During the course of operations, numerous transactions occur
between individual programs for goods provided or services rendered. These receivables and payables
are classified as "due from other programs" or "due to other programs" on the combining statement of
net position and have been eliminated in the basic financial statements.

Interprogram Transactions - Quasi-external transactions are accounted for as revenue or expenses.
Transactions that constitute reimbursements to a program for expenses initially made from it that are
properly applicable to another program, are recorded as expenses in the reimbursing program and as
reductions of expenses in the program that is reimbursed.

Rental Income - Rental income is recognized as rents become due.

Use of Estimates - The preparation of financial statements in conformity with U.S. GAAP requires
management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenue and expenses during the reporting period. Actual results could differ
from those estimates.

Subsequent Events - The Housing Authority has evaluated subsequent events through January 20,
2026, the date which the financial statements were available to be issued.

Change in Accounting Principle - The Housing Authority has implemented GASB Statement No. 101
Compensated Absences in 2025. The implementation did not have a material impact on the Housing
Authoriy’s financial statements.

NOTE 2 - Cash and Cash Equivalents
HUD regulations and statutes authorize the Housing Authority to have deposits in checking accounts,
certificates of deposit, money-market funds, United States government securities, and repurchase
agreements fully collateralized by United States government securities.
Fair Value of Deposits - Deposits are reported at fair value. At June 30, 2025, the fair value of the
Housing Authority’s deposits and investments approximated original cost; therefore, no fair value
adjustments were necessary.

Determining Fair Value - Fair value of the Housing Authority’s deposits are determined as follows:
Deposits with stated interest rates (operating, savings accounts, and certificates of deposit) are stated at
cost.

Income Allocation - Interest income is generally allocated to the program that owns the certificate of
deposit and savings account.



 - 15 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 2 - Cash and Cash Equivalents - Continued
Deposits at Financial Institutions - The Housing Authority’s balances at individual financial
institutions were subject to coverage under federal depository insurance and amounts appropriated by
Sections 20.144(1)(a) and 34.08 of the Wisconsin Statutes (State Guarantee Fund). Coverage under
the State Guarantee Fund may not exceed $1,000,000 above the amount of coverage under federal
depository insurance at any institution and is limited by the availability of the appropriations authorized
therein. (Due to the relatively small size of the State Guarantee Fund in relation to the total coverage,
total recovery of losses may not be available.)
Custodial Credit Risk - Deposits - Custodial credit risk is the risk that, in the event of the failure of a
depository financial institution, a government will not be able to recover its deposits or will not be able to
recover collateral securities that are in the possession of an outside party. The Housing Authority does
not have an additional custodial credit risk policy.

As of June 30, 2025, $3,991,934 of the Housing Authority’s bank balance of $5,241,934 was exposed
to custodial risk as follows:
 Uninsured, collateralized by bank $ 3,991,934

At June 30, 2025, the Housing Authority reported cash and cash equivalents as follows:
 Cash and cash equivalents $ 2,805,419

The difference between cash and cash equivalents and the bank balance reported below is due to
reconciling items such as outstanding checks and deposits in transit.

Fair Value of Deposits - Deposits are reported at fair value. At December 31, 2024, the fair value of the
Component Unit’s deposits approximated original cost; therefore, no fair value adjustments were
necessary.

Determining Fair Value - Fair value of the Component Unit’s deposits are determined as follows:
deposits with stated interest rates (operating, savings accounts, and certificates of deposit) are stated
at cost.

Income Allocation - Interest income is generally allocated to the program that owns the certificate of
deposit and savings account.

Custodial Credit Risk - Deposits - Custodial credit is the risk that, in the event of a bank failure, the
Housing Authority’s deposits may not be returned to it. The Component Unit does not have a deposit
policy for custodial credit risk. As of December 31, 2024, none of the Component Unit’s bank balance
was exposed to custodial risk.
At December 31, 2024, the Component Unit’s reported cash and cash equivalents as follows:
 Cash and cash equivalents $ 687,984
 Cash and cash equivalents - restricted 3,072,650
 TOTAL $ 3,760,634




 - 16 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 3 - Ground Lease
The Housing Authority has entered into two Ground Lease agreements for usage of its land. In
accordance with GASB Statement No. 94, the net present value of the expected principal and interest
payments are being reflected as a lease receivable and the future payments are being reported as
deferred inflow of resources. A summary of agreements in which the Housing Authority is the lessor
and Green Bay Housing Authority Properties, LLC is the lessee for the financial year ended June 30,
2025, is as follows:

DESCRIPTION LEASE RECEIVABLE DEFERRED INFLOW INTEREST RATE LEASE END DATE

Ground Lease $634,013 $634,013 4.83% April 1, 2100
Ground Lease $216,899 $216,899 4.83% April 1, 2100

As of June 30, 2025, the total lease receivable & deferred inflow of resources was $850,912.
NOTE 4 - Public-Private Partnership, Ground Leases, and RAD/HAP Arrangements
On November 30, 2023, the Housing Authority entered into two 75-year ground leases with Green Bay
Housing Authority Properties, LLC, in connection with the U.S. Department of Housing and Urban
Development’s (HUD) Rental Assistance Demonstration (RAD) program. These leases relate to the
redevelopment and long-term operation of affordable housing properties, including Mason Manor and
Scattered Sites.
Under the RAD program, the Housing Authority and Green Bay Housing Authority Properties, LLC
entered into Housing Assistance Payment (HAP) contracts and RAD Use Agreements with HUD. These
agreements impose long-term affordability and use restrictions on the properties. The ground leases
are expressly subordinate to the RAD Use Agreements, and any conflict between the lease and the
Use Agreement is resolved in favor of the Use Agreement. Violation of the Use Agreement constitutes
a default under the lease. Upon expiration or termination of the lease, title to the land and all
improvements reverts to the Authority.
The Housing Authority retains significant control over the properties through the lease terms and RAD
Use Agreements, including approval rights over certain actions by Green Bay Housing Authority
Properties, LLC and residual ownership of the assets. These arrangements qualify as public-private
partnerships (PPPs) under GASB Statement No. 94, Public-Private and Public-Public Partnerships and
Availability Payment Arrangements. Accordingly, the Authority has recognized lease receivables and
corresponding deferred inflows of resources related to these agreements. See Note 3 - Ground Lease
for details.
As part of the transactions, Green Bay Housing Authority Properties, LLC issued multiple mortgage
notes to the Housing Authority and its affiliate, GBHA Properties I, Inc., as seller financing for the
acquisition and redevelopment of the properties. These notes are interest-only, payable from available
cash flow, and subordinate to senior debt. See Note 5 - Notes Receivable for additional terms and
balances.
The Housing Authority is responsible for ensuring compliance with RAD and HAP requirements,
including affordability, tenant eligibility, and reporting. Noncompliance may result in penalties or loss of
federal funding.
As part of its mission to support affordable housing, the Housing Authority made payments to Green
Bay Housing Authority Properties, LLC for rehabilitation costs related to the RAD conversion of Mason
Manor and Scattered Sites. These payments are part of a broader public-private partnership
arrangement governed by GASB Statement No. 94. The Housing Authority retains ownership of the
land and a residual interest in the improvements.
 - 17 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 5 - Loans Receivable
Loans receivable consist of the following at June 30, 2025:
 0.00%, deferred payment loan from Neighborhood Housing Services of Green Bay, Inc.,
 payable in full upon transfer or other disposition of the property located at
 437 S. Jackson Street. $ 100,000

 0.00%, deferred payment loan from NEW Community Shelter, Inc., payable upon sale
 or transfer of the property located at 301 Mather Street. 50,000

 0.00%, deferred payment loan from Neighborhood Housing Services of Green Bay, Inc.,
 payable in full upon sale, transfer, or refinance and the property leases to operate as
 Benevolent Low Income Housing, collateralized with real property at 145-151 N. Ashland
 Avenue 205,000

 1.50% mortgage loan from Broadway Lofts, L.P., to TWG Development, LLC, which has
 been assigned to Green Bay Housing Authority. The full principal loan issued is $530,000.
 Payments are to be made quarterly over a 35-year period, ending in fiscal year 2056. 500,653
 4.83%, Seller Loan from GBHA Properties, LLC. The full principal in the amount of
 $2,920,000 has a maturity date of November 30, 2063. Interest only payments shall
 be due annually commencing on April 1, 2025. 2,920,000

 4.83%, Seller Loan from GBHA Properties, LLC. The full principal in the amount of
 $7,060,000 has a maturity date of November 30, 2063. Interest only payments shall
 be due annually commencing on April 1, 2025. 7,060,000

 1.50%, Sales Proceeds Loan from GBHA Properties, LLC. The full principal in the amount
 of $1,520,000 has a maturity date of November 30, 2063. Interest only payments shall
 be due annually commencing on April 1, 2025. 1,520,000

 1.50%, Sales Proceeds Loan from GBHA Properties, LLC. The full principal in the amount
 of $3,480,000 has a maturity date of November 30, 2063. Interest only payments shall
 be due annually commencing on April 1, 2025 3,480,000
 15,835,653
 Less current portion (15,090)
 TOTAL LONG-TERM $15,820,563

NOTE 6 - Capital Assets
A summary of changes in capital assets are as follows:

 BALANCE BALANCE
 07/01/24 ADDITIONS RETIREMENTS 06/30/25
Capital assets not being depreciated:
 Land $ 484,471 $ - $ - $ 484,471

Capital assets being depreciated:
 Machinery and equipment 6,012 - - 6,012
 Less accumulated depreciation (6,012) - - (6,012)
 Total capital assets being depreciated, net of
 accumulated depreciation - - - -
 NET CAPITAL ASSETS $ 484,471 $ - $ - $ 484,471



 - 18 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 6 - Capital Assets - Continued
A summary of changes in capital assets for Green Bay Housing Authority Properties, LLC is as follows:
 BALANCE BALANCE
 01/01/24 ADDITIONS RETIREMENTS 12/31/24
Capital assets not being depreciated:
 Land $ - $ - $ - $ -
 Construction in Progress - 11,328,276 - 11,328,276
 Total capital assets not being depreciated - 11,328,276 - 11,328,276

 BALANCE BALANCE
 01/01/24 ADDITIONS RETIREMENTS 12/31/24
Capital assets being depreciated:
 Land improvements $ - $ 97,686 $ - $ 97,686
 Buildings and improvements - 11,091,617 - 11,091,617
 Equipment - 632,151 - 632,151
 Total capital assets being depreciated - 11,821,454 - 11,821,454
 Less accumulated depreciation - (110,513) - (110,513)
 Total capital assets being depreciated, net of
 accumulated depreciation - 11,710,941 - 11,710,941
 NET CAPITAL ASSETS $ - $23,039,217 $ - $23,039,217

A summary of changes in leases for the Component Units is as follows:

 BALANCE BALANCE
 01/01/24 ADDITIONS RETIREMENTS 12/31/24
Right-of-use assets being amortized:
 Right-of-use asset - land $ - $15,774,490 $ - $15,774,490
 Less accumulated amortization - (544,884) - (544,884)
 NET RIGHT-OF-USE ASSETS $ - $15,229,606 $ - $15,229,606

NOTE 7 - Long-Term Obligations
Details of the Housing Authority’s long-term obligations are set forth below:
Summary of Long-Term Obligations
 AMOUNT
 BALANCE BALANCE DUE WITHIN
 07/01/24 ADDITIONS REDUCTIONS 06/30/25 ONE YEAR

Compensated absences $ 13,177 $ 5,284 $ - $ 18,461 $ 4,615

Compensated absences are presented as a net change.

Summary of Long-Term Obligations - Component Unit
 AMOUNT
 BALANCE BALANCE DUE WITHIN
 1/1/24 ADDITIONS REDUCTIONS 12/31/24 ONE YEAR

Notes payable $ - $32,729,732 $ - $32,729,732 $ -
Lease liability - 831,752 - 831,752 -
Other long-term liabilities - 4,355,585 - 4,355,585 573,871
 TOTAL LONG-TERM OBLIGATIONS $ - $37,917,069 $ - $37,917,069 $ 573,871

The lease liability related to the ground leases described in Note 6.
 - 19 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 7 - Long-Term Obligations - Continued

At December 31, 2024, notes payable of Green Bay Housing Authority Properties, LLC consists of:

 Note payable to WHEDA, interest at 6.45 percent, monthly interest payments are payable
 the first day of each month commencing December 1, 2023 until the conversion date of June 1, 2026,
 commencing on June 1, 2026, monthly installments of principal and interest are payable,
 matures on May 31, 2061. The note is secured by the mortgage on the rental property. $ 6,440,000

 Construction note payable to WHEDA, interest at 4.85 percent, monthly interest payments
 are payable the first day of each month commencing December 1, 2023, matures on June 1, 2026.
 The note is secured by the mortgage on the rental property. 9,650,246

 Note payable to GBHA Properties I, Inc. (third loan), interest at 4.83 percent, interest payments
 due annually commencing on April 1, 2025, subject to cash flow, matures on November 30, 2063.
 Accrued interest is included in the loan balance. 3,073,401

 Note payable to GBHA Properties I, Inc. (fourth loan), interest at 1.50 percent, interest payments
 due annually commencing on April 1, 2025, subject to cash flow, matures on November 30, 2063.
 Accrued interest is included in the loan balance. 1,544,799

 Note payable to GBHA Properties I, Inc. (fifth loan), interest at 4.83 percent, interest payments
 due annually commencing on April 1, 2025, subject to cash flow, matures on November 30, 2063.
 Accrued interest is included in the loan balance. 7,430,894

 Note payable to Green Bay Housing Authority (sixth loan), interest at 1.50 percent, interest payments
 due annually commencing on April 1, 2025, subject to cash flow, matures on November 30, 2063.
 Accrued interest is included in the loan balance. 3,536,776

 Note payable to Green Bay Housing Authority (seventh loan), interest at 1.50 percent,
 interest payments due annually commencing on April 1, 2025, subject to cash flow,
 matures on November 30, 2063. Accrued interest is included in the loan balance. 1,053,616
 TOTAL NOTES PAYABLE 32,729,732
 Less: unamortized debt issuance costs (107,240)
 NET LONG TERM NOTES PAYABLE $ 32,622,492

Maturities of Long-Term Debt

Maturities of the long-term debt for Green Bay Housing Authority Properties, LLC at December 31,
2024, are:
 YEARS PRINCIPAL

 2025 $ -
 2026 9,679,211
 2027 52,254
 2028 55,726
 2029 59,429
 Thereafter 22,883,112
 $ 32,729,732

At December 31, 2024, Green Bay Housing Authority Properties, LLC other long term liabilities
consisted of:

 - 20 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 7 - Long-Term Obligations - Continued
Green Bay Housing Authority Properties, LLC has entered into a development fee agreement with Gorman
& Company, LLC. Any deferred development fee will accrue interest at 5 percent and will be payable from
available cash flow. The development fee is due by the fourteenth anniversary of the completion date. In
the event the development fee has not been paid within fourteen years after the completion date, the
managing member will make a capital contribution to the Company sufficient to satisfy the remaining
unpaid portion of the development fee. The development fee payable was $4,355,585 as of December 31,
2024.

NOTE 8 - Short-Term Lease Income
The Housing Authority currently receives lease income for rooftop space at one of its Public Housing
projects. The lease income is from four cancelable short-term leases with varying expiration dates. The
leases require the annual rents to be adjusted by 2-5 percent of the rent in effect during the previous
year. Income received from these leases during fiscal year 2025 totaled $107,250 and is included in
other operating revenue in the accompanying financial statements.

NOTE 9 - Cooperative Agreement
The Housing Authority has an agreement with the City of Green Bay, Wisconsin (the “City”) whereby
the Housing Authority reimburses the City for administrative costs incurred by the City on behalf of the
Housing Authority. These administrative costs consist principally of salaries, benefits, and office
expenses. The salaries and benefits are for the allocated time that the City employee’s work on the
Housing Authority. Included in the benefit expense are those employee’s allocated expenses for the
Wisconsin Retirement System (WRS), insurance, and taxes.

NOTE 10 - Conduit Debt Obligations
From time to time, the Housing Authority has issued Revenue Bonds to provide financial assistance to
commercial and non-profit entities for the acquisition and construction of facilities deemed to be in the
public interest. The bonds are secured by the property financed. Payments on the underlying mortgage
loans are made to the respective bond trustee. Upon repayment of the bonds, ownership of the
acquired facilities transfers to the commercial or non-profit entity served by the bond issuance. Neither
the Housing Authority, the City of Green Bay, Wisconsin, nor any political subdivision thereof is
obligated in any manner for repayment of the bonds. Accordingly, the bonds are not reported as
liabilities in the accompanying financial statements.

As of June 30, 2025, there were two series of Revenue Bonds outstanding. The aggregate principal
amount payable was not readily determinable by the Housing Authority.

The Housing Authority charges annual fees for performing the service of issuing bonds. The
commercial and non-profit entities pay the annual fees for as long as the bonds remain outstanding.
Fees received by the Housing Authority during the year ended June 30, 2025, totaled $43,600 and are
included in other operating revenue in the accompanying financial statements.

NOTE 11 - Related Party Transactions

The Housing Authority has a management agreement with the component unit for the fiscal year 2025,
the Housing Authority received $112,118.



 - 21 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 NOTES TO THE BASIC FINANCIAL STATEMENTS - Continued
 JUNE 30, 2025

NOTE 12 - Special Items

The Housing Authority has recorded special items as part of the transfer out for the RAD conversion.
The special items expense was $2,413,214 as of June 30, 2025.

NOTE 13 - Risk Management

Insured Risk - The Housing Authority purchases commercial insurance with various deductibles and
coverages to cover liability, property, workers’ compensation, errors, omissions, and employee
defalcation risk. For insured programs, there have been no significant reductions in insurance
coverage. Settlement amounts have not exceeded insurance coverage for the current year or the three
prior years.

NOTE 14 - Economic Dependency

The Housing Authority received approximately 62 percent of its total revenue from the United States
Department of Housing and Urban Development. This funding is subject to federal government budget
appropriations and potential funding reductions.




 - 22 -
HOUSING AUTHORITY OF THE CITY OF GREEN
 BAY
 Green Bay, Wisconsin

 SUPPLEMENTARY INFORMATION
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 COMBINING STATEMENT OF NET POSITION
 JUNE 30, 2025


 REVENUE
 BOND GBHA MASON MANOR ELIMINATING
ASSETS COCC PROGRAM PROPERTIES I PROPERTIES ENTRY TOTAL

CURRENT ASSETS
 Cash and cash equivalents $ 2,060,600 $ - $ 744,819 $ - $ - $ 2,805,419
 Receivables
 Interest - 1,877 - - - 1,877
 Due from other programs 33,388 1,303,474 - - (1,336,862) -
 Current portion of loans receivable - 15,090 - - - 15,090
 TOTAL CURRENT ASSETS 2,093,988 1,320,441 744,819 - (1,336,862) 2,822,386

NONCURRENT ASSETS
  Loans receivable - 840,563 4,440,000 10,540,000 - 15,820,563
  Ground lease receivable - - 216,899 634,013 - 850,912
  Capital assets, net of accumulated depreciation - - 383,108 101,363 - 484,471
 TOTAL NONCURRENT ASSETS - 840,563 5,040,007 11,275,376 - 17,155,946

 TOTAL ASSETS $ 2,093,988 $ 2,161,004 $ 5,784,826 $ 11,275,376 $ (1,336,862) $ 19,978,332

 (Continued on page 24)




 - 23 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 COMBINING STATEMENT OF NET POSITION - Continued
 JUNE 30, 2025


 REVENUE
LIABILITIES, DEFERRED INFLOWS OF BOND GBHA MASON MANOR ELIMINATING
 RESROUCES AND NET POSITION COCC PROGRAM PROPERTIES I PROPERTIES ENTRY TOTAL

CURRENT LIABILITIES
  Accounts payable $ - $ - $ 15,085 $ - $ - $ 15,085
  Accrued payroll 3,993 - - - - 3,993
  Compensated absences 4,615 - - - - 4,615
  Due to other programs 1,303,474 - 33,388 - (1,336,862) -
 TOTAL CURRENT LIABILITIES 1,312,082 - 48,473 - (1,336,862) 23,693

NONCURRENT LIABILITIES
 Compensated absences 13,846 - - - - 13,846

 TOTAL LIABILITIES 1,325,928 - 48,473 - (1,336,862) 37,539

DEFERRED INFLOWS OF RESOURCES
 Ground lease - - 216,899 634,013 - 850,912

NET POSITION
 Net investment in capital assets - - 383,108 101,363 - 484,471
 Unrestricted 768,060 2,161,004 5,136,346 10,540,000 - 18,605,410
 TOTAL NET POSITION 768,060 2,161,004 5,519,454 10,641,363 - 19,089,881

 TOTAL LIABILITIES, DEFERRED INFLOWS
 OF RESOURCES AND NET POSITION $ 2,093,988 $ 2,161,004 $ 5,784,826 $ 11,275,376 $ (1,336,862) $ 19,978,332




 - 24 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 COMBINING STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN NET POSITION
 YEAR ENDED JUNE 30, 2025

 REVENUE
 BOND ROSS CAPITAL GBHA MASON MANOR ELIMINATING
 COCC MASON MANOR PROGRAM PROGRAM FUNDS PROPERTIES I PROPERTIES ENTRY TOTAL
OPERATING REVENUE
 Operating grants $ - $ 363 $ - $ 75,090 $ 733,214 $ 112,186 $ - $ - $ 920,853
 Other operating revenue 215,591 37,188 171,602 - - 31,579 - (112,188) 343,772
 TOTAL OPERATING REVENUE 215,591 37,551 171,602 75,090 733,214 143,765 - (112,188) 1,264,625

OPERATING EXPENSES
 Administration 111,414 9,120 1,868 - - 128,126 - (112,188) 138,340
 Tenant services - - - 75,090 - - - - 75,090
 General expenses 8,884 - - - - 2,065 - - 10,949
 TOTAL OPERATING EXPENSES 120,298 9,120 1,868 75,090 - 130,191 - (112,188) 224,379

 OPERATING INCOME (LOSS) 95,293 28,431 169,734 - 733,214 13,574 - - 1,040,246

NONOPERATING REVENUE (EXPENSES)
 Interest income 71,181 63,988 66,421 - - 16,768 - - 218,358
 Special items - (1,412,803) (267,197) - (733,214) - - - (2,413,214)
 Operating transfers in 21,663 - - - - - - (21,663) -
 Operating transfers out - - - - - (21,663) - 21,663 -
 TOTAL NONOPERATING REVENUE 92,844 (1,348,815) (200,776) - (733,214) (4,895) - - (2,194,856)

 CHANGE IN NET POSITION 188,137 (1,320,384) (31,042) - - 8,679 - - (1,154,610)

NET POSITION AT BEGINNING OF YEAR 579,923 1,320,384 2,192,046 - - 5,510,775 10,641,363 - 20,244,491

NET POSITION AT END OF YEAR $ 768,060 $ - $ 2,161,004 $ - $ - $ 5,519,454 $ 10,641,363 $ - $ 19,089,881




 - 25 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 COMBINING STATEMENT OF CASH FLOWS
 YEAR ENDED JUNE 30, 2025

 REVENUE
 BOND ROSS CAPITAL GBHA ELIMINATING
 COCC MASON MANOR PROGRAM PROGRAM FUNDS PROPERTIES I ENTRY TOTAL
CASH FLOWS FROM OPERATING ACTIVITIES
 Cash receipts:
 Interprogram services provided $ (2,084,859) $ - $ - $ - $ - $ - $ 2,084,859 $ -
 HUD operating grants - 363 - 88,212 - 112,186 - 200,761
 Other operating receipts 215,591 37,188 171,602 - - 31,579 (112,188) 343,772
 Total cash receipts (1,869,268) 37,551 171,602 88,212 - 143,765 1,972,671 544,533

 Cash disbursements:
 Vendors and suppliers (32,184) (9,120) (1,866) - - (96,908) 112,188 (27,890)
 Employees compensation and benefits (93,381) - (79) (88,212) - (24,218) - (205,890)
 Insurance (3,000) - - - - - - (3,000)
 Interprogram services used (11,725) 1,320,384 9,457 - 733,214 33,529 (2,084,859) -
 Total cash disbursements (140,290) 1,311,264 7,512 (88,212) 733,214 (87,597) (1,972,671) (236,780)

 NET CASH PROVIDED BY (USED IN)
 OPERATING ACTIVITIES (2,009,558) 1,348,815 179,114 - 733,214 56,168 - 307,753

CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
 Issuance of loan receivable - - 21,662 - - - - 21,662
 Special items - (1,412,803) (267,197) - (733,214) - - (2,413,214)
 NET CASH PROVIDED BY (USED IN)
 CAPITAL AND RELATED FINANCING
 ACTIVITIES - (1,412,803) (245,535) - (733,214) - - (2,391,552)

CASH FLOWS FROM INVESTING ACTIVITIES
 Interest received 71,181 63,988 66,421 - - 16,768 - 218,358

 NET INCREASE (DECREASE) IN CASH
 AND CASH EQUIVALENTS (1,916,714) - - - - 51,273 - (1,865,441)

CASH AND CASH EQUIVALENTS AT BEGINNING
 OF YEAR 3,977,314 - - - - 693,546 - 4,670,860

CASH AND CASH EQUIVALENTS AT END OF YEAR $ 2,060,600 $ - $ - $ - $ - $ 744,819 $ - $ 2,805,419


 (Continued on page 27)




 - 26 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 COMBINING STATEMENT OF CASH FLOWS - Continued
 YEAR ENDED JUNE 30, 2025


 REVENUE
 BOND ROSS CAPITAL GBHA ELIMINATING
 COCC MASON MANOR PROGRAM PROGRAM FUNDS PROPERTIES I ENTRY TOTAL
RECONCILIATION OF CASH AND CASH EQUIVALENTS
PER STATEMENT OF CASH FLOWS TO THE STATEMENT
OF NET POSITION

Cash and cash equivalents $ 2,060,600 $ - $ - $ - $ - $ 744,819 $ - $ 2,805,419

RECONCILIATION OF INCOME (LOSS) FROM OPERATIONS
TO NET CASH PROVIDED BY (USED IN) OPERATING
ACTIVITIES

 Operating income (loss) $ 95,293 $ 28,431 $ 169,734 $ - $ 733,214 $ 13,574 $ - $ 1,040,246
 Adjustments to reconcile operating income (loss) to
 net cash provided by (used in) operating activities
 Changes in assets and liabilities
 Decrease (increase) in assets
 Due from other governments - - - 13,122 - - - 13,122
 Due from other programs (11,725) 1,320,384 9,457 - 733,214 141 (2,051,471) -
 Increase (decrease) in liabilities
 Accounts payable (3,919) - - - - 9,065 - 5,146
 Accrued payroll (9,632) - (77) (13,122) - - - (22,831)
 Compensated absences 5,284 - - - - - - 5,284
 Due to other governments - - - - (733,214) - - (733,214)
 Due to other programs (2,084,859) - - - - 33,388 2,051,471 -
 NET CASH PROVIDED BY (USED IN)
 OPERATING ACTIVITIES $ (2,009,558) $ 1,348,815 $ 179,114 $ - $ 733,214 $ 56,168 $ - $ 307,753




 - 27 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 STATEMENTS AND CERTIFICATIONS OF ACTUAL AND MODERNIZATION COSTS
 JUNE 30, 2025

1. The actual costs of the Housing Authority of the City of Green Bay (the “Housing Authority”) were as
 follows:

 WI39P074501-22 WI39P074501-23

 Budget $ 425,644 $ 428,425

 Advances
 Cumulative through 6/30/2024 $ 119,510 $ 1,345
 Current year 306,134 427,080
 Cumulative through 6/30/2025 425,644 428,425

 Costs
 Cumulative through 6/30/2024 119,510 1,345
 Current year 306,134 427,080
 Cumulative through 6/30/2025 425,644 428,425


 YEAR END RECEIVABLE/DEFERRED REVENUE $ - $ -

 REMAINING BUDGET $ - $ -

 HUD Form 53001 Submitted Yes Yes

2. The distribution of costs as shown on the Financial Statement of Costs accompanying the Actual
 Cost Certificate submitted to HUD for approval is in agreement with the Housing Authority’s
 records.

3. For the above completed grants, all costs have been paid and all related liabilities have been
 discharged through payment.




 - 28 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
 JUNE 30, 2025

 PASS-THROUGH
 ASSISTANCE ENTITY SUBRECIPIENT
GRANTOR/PASS THROUGH AGENCY/ LISTING IDENTIFYING PASS-THROUGH FEDERAL
PROGRAM TITLE AND GRANT NUMBER NUMBER NUMBER EXPENDITURES EXPENDITURES

U.S. DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT - Direct Programs

ROSS - Service Coordinators 14.870 - $ - $ 75,090

Public Housing Capital Fund 14.872 - - 733,214

Public Housing Operating Fund 14.850 - - 112,549

 TOTAL EXPENDITURES OF FEDERAL AWARDS $ - $ 920,853

Note 1 - Basis of Presentation

The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Housing Authority of the City of Green Bay and is presented on the accrual basis of accounting. The
information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this
schedule may differ from amounts presented in, or used in the presentation of, the financial statements.

NOTE 2 - Summary of Significant Accounting Policies

Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. The Housing
Authority of the City of Green Bay has elected not to use the 10 percent de minimis indirect cost rate
allowed under the Uniform Guidance.

NOTE 3 - Disclosure of Other Forms of Assistance

The Housing Authority of the City of Green Bay received no federal awards of non-monetary assistance
that are required to be disclosed for the fiscal year ended June 30, 2025.

The Housing Authority of the City of Green Bay had no loans or loan guarantees required to be
disclosed for the fiscal year ended June 30, 2025.




 - 29 -
HOUSING AUTHORITY OF THE CITY OF GREEN
 BAY
 Green Bay, Wisconsin

 OTHER REPORTS
 INDEPENDENT AUDITORS’ REPORT ON INTERNAL
 CONTROL OVER FINANCIAL REPORTING AND ON
 COMPLIANCE AND OTHER MATTERS BASED ON AN
 AUDIT OF THE FINANCIAL STATEMENTS
 PERFORMED IN ACCORDANCE
 WITH GOVERNMENT AUDITING STANDARDS

To the Board of Commissioners
Housing Authority of the City of Green Bay
Green Bay, Wisconsin

We have audited in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States, the financial statements of the Housing
Authority of the City of Green Bay (the “Housing Authority”), as of and for the year ended June 30,
2025, and the related notes to the financial statements, which collectively comprise the Housing
Authority’s basic financial statements, and have issued our report thereon dated January 20, 2026. Our
report includes reference to other auditors who audited the financial statements of the discretely
presented component units as described in our report on the Housing Authority’s financial statements.
This report does not include the results of the other auditors’ testing of internal control over financial
reporting or compliance and other matters that are reported on separately by those auditors.

Report on Internal Control Over Financial Reporting

In planning and performing our audit of the financial statements, we considered the Housing Authority’s
internal control over financial reporting (internal control) to determine the audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinion on the basic financial
statements, but not for the purpose of the expressing an opinion on the effectiveness of the Housing
Authority’s internal control. Accordingly, we do not express an opinion on the effectiveness of the
Housing Authority’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct
misstatements on a timely basis. A material weakness is a deficiency or combination of deficiencies in
internal control, such that there is a reasonable possibility that a material misstatement of the Housing
Authority’s financial statements will not be prevented or detected and corrected on a timely basis. A
significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe
than a material weakness, yet important enough to merit the attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses may exist that have not been identified.



 - 30 -
Report on Compliance and Other Matters

As part of obtaining reasonable assurance about whether the Housing Authority’s financial statements
are free from material misstatement, we performed tests of its compliance with certain provisions of
laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and
material effect on the determination of financial statement amounts. However, providing an opinion on
compliance with those provisions was not an objective of our audit, and accordingly, we do not express
such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that
are required to be reported under Government Auditing Standards.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the Housing
Authority’s internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the Housing Authority’s internal control
and compliance. Accordingly, this communication is not suitable for any other purpose.




La Crosse, Wisconsin
January 20, 2026




 - 31 -
 INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE FOR
 EACH MAJOR FEDERAL PROGRAM AND ON INTERNAL CONTROL
 OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE

To the Board of Commissioners
Housing Authority of the City of Green Bay
Green Bay, Wisconsin

Report on Compliance for Each Major Federal Program

Qualified Opinion

We have audited Housing Authority of the City of Green Bay’s (“Housing Authority”) compliance with
the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement
that could have a direct and material effect on each of the Housing Authority’s major federal programs
for the year ended June 30, 2025. The Housing Authority’s major federal programs are identified in the
summary of auditor’s results section of the accompanying schedule of findings and questioned costs.

Qualified Opinion on Public Housing Capital Fund

In our opinion, except for the noncompliance described in the Basis for Qualified Opinion section of our
report, the Housing Authority complied, in all material respects, with the compliance requirements
referred to above that could have a direct and material effect on Public Housing Capital Fund for the
year ended June 30, 2025.

Basis for Qualified Opinion

We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States of America (GAAS); the standards applicable to financial audits contained in Government
Auditing Standards issued by the Comptroller General of the United States (Government Auditing
Standards); and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Our responsibilities under those standards and the Uniform Guidance are further described
in the Auditors’ Responsibilities for the Audit of Compliance section of our report.

We are required to be independent of the Housing Authority and to meet our other ethical responsibilities,
in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each
major federal program. Our audit does not provide a legal determination of the Housing Authority’s
compliance with the compliance requirements referred to above.

Matter Giving Rise to Qualified Opinion on Public Housing Capital Fund

As described in the accompanying schedule of findings and questioned costs, the Housing Authority did
not comply with requirements regarding Assistance Listing No. 14.872 Public Housing Capital Funds as
described in finding number 2025-001 for Cash Management.

Compliance with such requirements is necessary, in our opinion, for the Housing Authority to comply
with the requirements applicable to that program.

 - 32 -
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design,
implementation, and maintenance of effective internal control over compliance with the requirements of
laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the
Housing Authority’s federal programs.

Auditor’s Responsibilities for the Audit of Compliance

Our objectives are to obtain reasonable assurance about whether material noncompliance with the
compliance requirements referred to above occurred, whether due to fraud or error, and express an
opinion on the Housing Authority’s compliance based on our audit. Reasonable assurance is a high level
of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in
accordance with GAAS, Government Auditing Standards, and the Uniform Guidance will always detect
material noncompliance when it exists. The risk of not detecting material noncompliance resulting from
fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance
requirements referred to above is considered material, if there is a substantial likelihood that, individually
or in the aggregate, it would influence the judgment made by a reasonable user of the report on
compliance about the Housing Authority’s compliance with the requirements of each major federal
program as a whole.
In performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform
Guidance, we:

  Exercise professional judgment and maintain professional skepticism throughout the audit.

  Identify and assess the risks of material noncompliance, whether due to fraud or error, and
 design and perform audit procedures responsive to those risks. Such procedures include
 examining, on a test basis, evidence regarding the Housing Authority’s compliance with the
 compliance requirements referred to above and performing such other procedures as we
 considered necessary in the circumstances.

  Obtain an understanding of the Housing Authority’s internal control over compliance relevant to
 the audit in order to design audit procedures that are appropriate in the circumstances and to
 test and report on internal control over compliance in accordance with the Uniform Guidance,
 but not for the purpose of expressing an opinion on the effectiveness of the Housing Authority’s
 internal control over compliance. Accordingly, no such opinion is expressed.

We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit and any significant deficiencies and material weaknesses in
internal control over compliance that we identified during the audit.

Other Matters

Government Auditing Standards requires the auditor to perform limited procedures on the Housing
Authority’s response to the noncompliance findings identified in our audit described in the accompanying
schedule of findings and questioned costs. The Housing Authority’s response was not subjected to the
other auditing procedures applied in the audit of compliance and, accordingly, we express no opinion on
the response.

Report on Internal Control Over Compliance

Our consideration of internal control over compliance was for the limited purpose described in the
Auditor’s Responsibilities for the Audit of Compliance section above and was not designed to identify all
deficiencies in internal control over compliance that might be material weaknesses or significant
deficiencies in internal control over compliance and therefore, material weaknesses or significant
deficiencies may exist that were not identified. However, as discussed below, we did identify a certain
deficiency in internal control over compliance that we consider to be a material weaknesses.
 - 33 -
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their
assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance
requirement of a federal program on a timely basis. A material weakness in internal control over
compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such
that there is a reasonable possibility that material noncompliance with a type of compliance requirement
of a federal program will not be prevented, or detected and corrected, on a timely basis. We consider the
deficiency in internal control over compliance described in the accompanying schedule of findings and
questioned costs as item 2025-001 to be a material weakness.

A significant deficiency in internal control over compliance is a deficiency, or a combination of
deficiencies, in internal control over compliance with a type of compliance requirement of a federal
program that is less severe than a material weakness in internal control over compliance, yet important
enough to merit attention by those charged with governance. We did not identify any deficiencies in
internal control over compliance that we consider to be significant deficiencies, as defined above.
However, significant deficiencies in internal control over compliance may exist that were not identified.

Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal
control over compliance. Accordingly, no such opinion is expressed.

Government Auditing Standards requires the auditor to perform limited procedures on the Housing
Authority’s response to the internal control over compliance findings identified in our audit described in
the accompanying schedule of findings and questioned costs. The Housing Authority’s response was
not subjected to the other auditing procedures applied in the audit of compliance and, accordingly, we
express no opinion on the response.

The purpose of this report on internal control over compliance is solely to describe the scope of our
testing of internal control over compliance and the results of that testing based on the requirements of
the Uniform Guidance. Accordingly, this report is not suitable for any other purpose.




La Crosse, Wisconsin
January 20, 2026




 - 34 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 SCHEDULE OF FINDINGS AND QUESTIONED COSTS
 YEAR ENDED JUNE 30, 2025

Section I - Summary of Auditors’ Results

Financial Statements

Type of auditors’ report issued: Unmodified

Internal control over financial reporting:

 Material weakness(es) identified? Yes X No

 Significant deficiency(ies) identified that are not
 considered to be material weakness(es)? Yes X None reported

Noncompliance material to financial statements noted? Yes X No

Federal Awards

Internal control over major federal program:

 Material weakness(es) identified? X Yes No

 Significant deficiency(ies) identified that are not
 considered to be material weakness(es)? Yes X None reported

Type of auditors’ report issued on compliance for major programs: Qualified

Any audit findings disclosed that are required to be reported in
 accordance with 2 CFR 200.516(a)? X Yes No

Identification of federal major programs:

Assistance Listing Numbers Name of Federal Program/Cluster

 14.872 Public Housing Capital Funds

Dollar threshold used to distinguish between
 Type A and Type B programs: $750,000

Auditee qualified as low-risk auditee? Yes X No

Section II - Financial Statement Findings - None




 - 35 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 SCHEDULE OF FINDINGS AND QUESTIONED COSTS
 YEAR ENDED JUNE 30, 2025

Section III - Federal Award Findings and Questioned Costs

Item 2025-001 - Capital Fund Draw Not Expended in Three Days

Program: 14.872 - Capital Funds

Criteria: 2 CFR 200.305 requires PHAs to minimize the time federal funds are drawn
 down to expenditure. The Capital Fund Program provides guidelines of three
 business days from draw down to expenditure to minimize the interest accrued
 by the PHA. 24 CFR 905.310 states the PHA shall initiate a fund requisition from
 HUD only when funds are due and payable, unless HUD approves another
 payment schedule as authorized by 2 CFR 200.305.

Condition: The Housing Authority had drawn down Capital Funds and did not expend within
 three days.

Cause: The Housing Authority was not aware that Capital Funds drawn needed to be
 expended within three days.

Questioned Costs: Not applicable.

Effect: The Housing Authority is not in compliance with cash management requirements.

Prior Year Finding: N/A

Information: Isolated instance.

Recommendation: Traditionally we would recommend that the Housing Authority implements
 appropriate controls over voucher draws to ensure compliance with Public
 Housing Capital Fund cash management requirements. We recognize that the
 Capital Funds have been fully expended as of June 30, 2025, so the
 recommendation does not apply. When receiving Capital Funds in the future, we
 recommend to follow this recommendation.

Management’s
Response: Management concurs with the recommendation to implement timely LOCCS
 fundings that coincides with our normal accounting cycle when receiving Capital
 Funds in the future.

Section IV - Prior Year Findings

2024-001 - Material Audit Adjustments - Cleared in 2025
2024-002 - Capital Fund Draw Not Expended in Three Days - Current year finding 2025-001




 - 36 -
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin
 SCHEDULE OF FINDINGS AND QUESTIONED COSTS
 YEAR ENDED JUNE 30, 2025


Section V - Other Issues

1. Does the auditors’ report or the notes to the financial statements include a
 disclosure with regard to substantial doubt as to the auditee’s ability to continue
 as a going concern? No

2. Was a management letter or other document conveying audit comments
 issued as a result of this audit? Yes

3. Name and signature of partner



 Joseph D Haas, Partner




 - 37 -
 HOUSING AUTHORITY OF THE
 CITY OF GREEN BAY
 Green Bay, Wisconsin
INDEPENDENT AUDITORS’ REPORT
 ON COMMUNICATION WITH THOSE
  CHARGED WITH GOVERNANCE

 JUNE 30, 2025
 HOUSING AUTHORITY OF THE CITY OF GREEN BAY
 Green Bay, Wisconsin

 TABLE OF CONTENTS

 JUNE 30, 2025


Page

2-4 Independent Auditors’ Report on Communication With Those Charged With
 Governance

 Appendix A - Management Representation Letter




 -1-
 INDEPENDENT AUDITORS' REPORT ON
 COMMUNICATION WITH THOSE CHARGED WITH GOVERNANCE


To the Board of Commissioners
Housing Authority of the City of Green Bay
Green Bay, Wisconsin

We have audited the financial statements of the Housing Authority of the City of Green Bay (the
“Housing Authority”) as of and for the year ended June 30, 2025, and have issued our report thereon
dated January 20, 2026. Professional standards require that we advise you of the following matters
relating to our audit.

Our Responsibility in Relation to the Financial Statement Audit

As communicated in our engagement letter dated July 7, 2025, our responsibility, as described by
professional standards, is to form and express an opinion about whether the financial statements that
have been prepared by management with your oversight are presented fairly, in all material respects, in
accordance with accounting principles generally accepted in the United States of America. Our audit of
the financial statements does not relieve you or management of your respective responsibilities.

Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain
reasonable, rather than absolute, assurance about whether the financial statements are free of material
misstatement. An audit of financial statements includes consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for
the purpose of expressing an opinion on the effectiveness of the Housing Authority’s internal control
over financial reporting. Accordingly, as part of our audit, we considered the internal control of the
Housing Authority solely for the purpose of determining our audit procedures and not to provide any
assurance concerning such internal control.

We are also responsible for communicating significant matters related to the audit that are, in our
professional judgment, relevant to your responsibilities in overseeing the financial reporting process.
However, we are not required to design procedures for the purpose of identifying other matters to
communicate to you.

We have provided our findings regarding significant control deficiencies over financial reporting and
material noncompliance, and other matters noted during our audit in a separate letter to you dated
January 20, 2026.

Planned Scope and Timing of the Audit

We conducted our audit consistent with the planned scope and timing we previously communicated to
you.




 -2-
Compliance With All Ethics Requirements Regarding Independence

The engagement team, others in our firm, as appropriate, our firm, and our network firms have
complied with all relevant ethical requirements regarding independence.

Significant Risks Identified

We have identified the following significant risks:

  Management Override of Controls - Professional standards require the auditor to address the
 risk that management is in a unique position to override controls that otherwise appear to be
 operating effectively.

  Improper Revenue Recognition - Professional standards require the auditor to presume that
 risks of material misstatements exist in revenue recognition.

We have designed our audit procedures to adequately address the significant risks identified.

Qualitative Aspects of the Housing Authority’s Significant Accounting Practices

Significant Accounting Policies

Management has the responsibility to select and use appropriate accounting policies. A summary of the
significant accounting policies adopted by the Housing Authority is included in Note 1 to the financial
statements. As described in Note 1 of the financial statements, during the year, the Housing Authority
adopted Government Accounting Standards Board (GASB) Statement No. 101, Compensated
Absences. No matters have come to our attention that would require us, under professional standards,
to inform you about (1) the methods used to account for significant unusual transactions, and (2) the
effect of significant accounting policies in controversial or emerging areas for which there is a lack of
authoritative guidance or consensus.

Significant Accounting Estimates

Accounting estimates are an integral part of the financial statements prepared by management and are
based on management’s current judgments. Those judgments are normally based on knowledge and
experience about past and current events and assumptions about future events. Certain accounting
estimates exist that were not identified as a significant risk.

We evaluated the key factors and assumptions used to develop the estimate in determining that it was
reasonable in relation to the financial statements as a whole.

Financial Statement Disclosures

Certain financial statement disclosures involve significant judgment and are particularly sensitive
because of their significance to financial statement users. The most sensitive disclosures affecting the
Housing Authority’s financial statements relate to: capital assets, notes receivable & economic
dependency.

Significant Difficulties Encountered During the Audit

For purposes of this communication, professional standards require us to communicate to you
significant unusual transactions identified during our audit. We have not identified any significant
unusual transactions during the audit.




 -3-
Uncorrected and Corrected Misstatements

For purposes of this communication, professional standards require us to accumulate all known and likely
misstatements identified during the audit, other than those that we believe are trivial, and communicate
them to the appropriate level of management. Further, professional standards require us to also
communicate the effect of uncorrected misstatements related to prior periods on the relevant classes of
transactions, account balances or disclosures, and the financial statements as a whole and each
applicable opinion unit. Management has corrected all identified misstatements. Uncorrected
misstatements or matters underlying those uncorrected misstatements could potentially cause future-
period financial statements to be materially misstated, even though the uncorrected misstatements are
immaterial to the financial statements currently under audit.

In addition, professional standards require us to communicate to you all material, corrected
misstatements that were brought to the attention of management as a result of our audit procedures.
No such misstatements were identified during our audit procedures.

Disagreements With Management

For purposes of this letter, professional standards define a disagreement with management as a matter,
whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing
matter, which could be significant to the Housing Authority’s financial statements or the auditors’ report.
No such disagreements arose during the course of the audit.

Representations Requested From Management

We have requested certain written representations from management, which are included in the letter
under Appendix A dated January 20, 2026.

Management’s Consultations With Other Accountants

In some cases, management may decide to consult with other accountants about auditing and
accounting matters. Management informed us that, and to our knowledge, there were no consultations
with other accountants regarding auditing and accounting matters.

Other Significant Matters, Findings, or Issues

In the normal course of our professional association with the Housing Authority, we generally discuss a
variety of matters, including the application of accounting principles and auditing standards, operating
and regulatory conditions affecting the Housing Authority, and operational plans and strategies that may
affect the risks of material misstatement. None of the matters discussed resulted in a condition to our
retention as the Housing Authority’s auditors.

This information is intended solely for the use of Board of Commissioners and management of Housing
Authority of the City of Green Bay and is not intended to be, and should not be, used by anyone other
than these specified parties.




La Crosse, Wisconsin
January 20, 2026




 -4-
HOUSING AUTHORITY OF THE CITY OF GREEN
 BAY
 Green Bay, Wisconsin

 APPENDIX A
  MANAGEMENT REPRESENTATION LETTER
 Report to the
 Housing Authority
 of the City of Green Bay


 MEETING DATE PREPARED BY
 February 19, 2026

AGENDA ITEM # F.1
GBHA Bills.

BACKGROUND


RECOMMENDATION


FISCAL IMPACT


ATTACHMENTS
1. Check report - Nov
2. Check report - Dec
3. Check report - Jan




 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026
 (p) 920.448.3400 (f) 920.448.3426  greenbaywi.gov
11:09 AM Green Bay Housing Authority
02/03/26 Check Detail
 November 2025

 Type Num Date Name Memo Account Paid Amount


Check 11/30/2025 Service Cha... 1111.01 · General ...

 Service Charge 4530.00 · Bank Fees -58.00

TOTAL -58.00


Bill Pmt -Check 7439 11/13/2025 HAWKINS ASH BA... 2025 Audit 1111.01 · General ...

Bill 3243044 10/31/2025 2025 Audit 4171.00 · Auditing ... -4,500.00
 2025 Audit 4171.00 · Auditing ... -4,500.00
 2025 Audit 4171.00 · Auditing ... -2,875.00
 2025 Audit 4171.00 · Auditing ... -625.00

TOTAL -12,500.00




 Page 1
11:10 AM Green Bay Housing Authority
02/03/26 Check Detail
 December 2025

 Type Num Date Name Memo Account Paid Amount


Check 12/31/2025 Service Cha... 1111.01 · General ...

 Service Charge 4530.00 · Bank Fees -50.00

TOTAL -50.00


Bill Pmt -Check 7440 12/01/2025 CITY OF GREEN B... 1111.01 · General ...

Bill 970-12420 11/4/25 11/04/2025 cc fees 1242.00 · Fees coll... -65.93
Bill 970-12422 11/2025 11/30/2025 wages 4110.00 · Admin Sa... -5,937.39
 benefits 4182.00 · Employe... -2,176.82

TOTAL -8,180.14


Bill Pmt -Check 7441 12/01/2025 Jayme Valentine waha 1111.01 · General ...

Bill WAHA meeting 11/18/2025 WAHA meeting 4150.00 · Travel -39.29

TOTAL -39.29


Bill Pmt -Check 7442 12/11/2025 CITY OF GREEN B... office suppli... 1111.01 · General ...

Bill 205371 12/02/2025 copies 4190.01 · Printing -48.25
 supplies & zo... 4190.03 · Paper & ... -39.07

TOTAL -87.32


Bill Pmt -Check 7443 12/29/2025 CITY OF GREEN B... 1111.01 · General ...

Bill 970-12420 12/2/25 12/02/2025 cc fees 1242.00 · Fees coll... -69.85
Bill 970-12422 12/30/25 12/29/2025 wages 4110.00 · Admin Sa... -5,592.88
 benegits 4182.00 · Employe... -2,048.88

TOTAL -7,711.61




 Page 1
11:10 AM Green Bay Housing Authority
02/03/26 Check Detail
 January 2026

 Type Num Date Name Memo Account Paid Amount


Bill Pmt -Check 7444 01/22/2026 CITY OF GREEN B... 1111.01 · General ...

Bill 206708 12/31/2025 Admin Exp 4190.10 · Miscellan... -663.25

TOTAL -663.25


Bill Pmt -Check 7445 01/22/2026 WAHA Dues 1111.01 · General ...

Bill 2026 Dues 01/01/2026 2026 Dues 4190.05 · Members... -250.00

TOTAL -250.00




 Page 1
 Report to the
 Housing Authority
 of the City of Green Bay


 MEETING DATE PREPARED BY
 February 19, 2026

AGENDA ITEM # F.2
GBHA Financial Report.

BACKGROUND


RECOMMENDATION


FISCAL IMPACT


ATTACHMENTS
1. Monthly FS




 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026
 (p) 920.448.3400 (f) 920.448.3426  greenbaywi.gov
 Green Bay Housing Authority
 Budget vs. Actual
 Green Bay Housing Authority

 Jan-26
 COCC Mason Manor RevBonds TOTAL
 YTD Budget YTD Budget YTD Budget YTD Budget
 Total Income 119,396.83 164,628.66 0.00 3,000.00 50,037.49 185,889.53 169,434.32 353,518.19
 Total Expense 73,006.37 159,900.00 4,500.00 4,500.00 366,212.71 52,400.00 443,719.08 216,800.00


Net Income 46,390.46 4,728.66 -4,500.00 -1,500.00 -316,175.22 133,489.53 -274,284.76 136,718.19




 purchased a truck
 Loan to Grand Boulevard Apts
 Green Bay Housing Authority
 Budget vs. Actual
 COCC
 YTD Budget $ Over Budget % of Budget
 Income
 3510.00 · Management Fee Revenue 0.00 0.00 0.00 0.0%
 3610.00 · Int Income 57,537.12 10,000.00 47,537.12 575.37%
 3690.01 · Other Income - Ins Dividends 1,212.89 0.00 1,212.89 100.0%
 3690.02 · Other Income 60,646.82 104,628.66 -43,981.84 57.96%
 3690.03 · Cell Tower Rent 0.00 0.00 0.00 0.0%
 9110.00 · Transfers In 0.00 50,000.00 -50,000.00 0.0%
 Total Income 119,396.83 164,628.66 -45,231.83 72.53%
 Expense
 4110.00 · Admin Salaries 47,419.08 81,000.00 -33,580.92 58.54%
 4130.00 · Legal Expense 0.00 2,000.00 -2,000.00 0.0%
 4140.00 · Staff Training 0.00 9,000.00 -9,000.00 0.0%
 4150.00 · Travel 78.29 200.00 -121.71 39.15%
 4171.00 · Auditing Fees 2,875.00 12,000.00 -9,125.00 23.96%
 4182.00 · Employee Benefits - Admin 16,141.07 29,500.00 -13,358.93 54.72%
 4190.01 · Printing 139.03 500.00 -360.97 27.81%
 4190.02 · Postage 42.70 400.00 -357.30 10.68%
 4190.03 · Paper & Office Supplies 108.49 500.00 -391.51 21.7%
 4190.04 · Publications 0.00 200.00 -200.00 0.0%
 4190.05 · Membership Dues & Fees 261.99 400.00 -138.01 65.5%
 4190.06 · Computer Support 0.00 5,000.00 -5,000.00 0.0%
 4190.10 · Miscellaneous 1,904.72 15,000.00 -13,095.28 12.7%
 4420.00 · Maint - Supplies 0.00 100.00 -100.00 0.0%
 4510.01 · Insurance Expenses - Liability 3,728.00 3,500.00 228.00 106.51%
 4530.00 · Bank Fees 308.00 600.00 -292.00 51.33%
 4590.00 · Other General 0.00 0.00 0.00 0.0%
 4800.00 · Depreciation Expense 0.00 0.00 0.00 0.0%
 9120.00 · Transfers Out 0.00 0.00 0.00 0.0%
 Total Expense 73,006.37 159,900.00 -86,893.63 45.66%
Net Income/(Loss) 46,390.46 4,728.66 41,661.80 981.05%


 0.00
 Green Bay Housing Authority
 Budget vs. Actual
 Mason Manor
 YTD Budget $ Over Budget % of Budget
 Income
 3510.00 · Management Fee Revenue 0.00 0.00 0.00 0.0%
 3610.00 · Int Income 0.00 3,000.00 -3,000.00 0.0%
 3690.01 · Other Income - Ins Dividends 0.00 0.00 0.00 0.0%
 3690.02 · Other Income 0.00 0.00 0.00 0.0%
 3690.03 · Cell Tower Rent 0.00 0.00 0.00 0.0%
 9110.00 · Transfers In 0.00 0.00 0.00 0.0%
 Total Income 0.00 3,000.00 -3,000.00 0.0%
 Expense
 4110.00 · Admin Salaries 0.00 0.00 0.00 0.0%
 4130.00 · Legal Expense 0.00 0.00 0.00 0.0%
 4140.00 · Staff Training 0.00 0.00 0.00 0.0%
 4150.00 · Travel 0.00 0.00 0.00 0.0%
 4171.00 · Auditing Fees 4,500.00 4,500.00 0.00 100.0%
 4182.00 · Employee Benefits - Admin 0.00 0.00 0.00 0.0%
 4190.01 · Printing 0.00 0.00 0.00 0.0%
 4190.02 · Postage 0.00 0.00 0.00 0.0%
 4190.03 · Paper & Office Supplies 0.00 0.00 0.00 0.0%
 4190.04 · Publications 0.00 0.00 0.00 0.0%
 4190.05 · Membership Dues & Fees 0.00 0.00 0.00 0.0%
 4190.06 · Computer Support 0.00 0.00 0.00 0.0%
 4190.10 · Miscellaneous 0.00 0.00 0.00 0.0%
 4420.00 · Maint - Supplies 0.00 0.00 0.00 0.0%
 4510.01 · Insurance Expenses - Liability 0.00 0.00 0.00 0.0%
 4530.00 · Bank Fees 0.00 0.00 0.00 0.0%
 4590.00 · Other General 0.00 0.00 0.00 0.0%
 4800.00 · Depreciation Expense 0.00 0.00 0.00 0.0%
 9120.00 · Transfers Out 0.00 0.00 0.00 0.0%
 Total Expense 4,500.00 4,500.00 0.00 100.0%
Net Income/(Loss) -4,500.00 -1,500.00 -3,000.00 300.0%


 0.00
 Green Bay Housing Authority
 Budget vs. Actual
 RevBonds
 YTD Budget $ Over Budget % of Budget
 Income
 3510.00 · Management Fee Revenue 0.00 0.00 0.00 0.0%
 3610.00 · Int Income 0.00 5,000.00 -5,000.00 0.0%
 3690.01 · Other Income - Ins Dividends 0.00 0.00 0.00 0.0%
 3690.02 · Other Income 12,045.00 75,136.84 -63,091.84 16.03%
 3690.03 · Cell Tower Rent 37,992.49 105,752.69 -67,760.20 35.93%
 9110.00 · Transfers In 0.00 0.00 0.00 0.0%
 Total Income 50,037.49 185,889.53 -135,852.04 26.92%
 Expense
 4110.00 · Admin Salaries 0.00 550.00 -550.00 0.0%
 4130.00 · Legal Expense 0.00 0.00 0.00 0.0%
 4140.00 · Staff Training 0.00 0.00 0.00 0.0%
 4150.00 · Travel 0.00 0.00 0.00 0.0%
 4171.00 · Auditing Fees 625.00 600.00 25.00 104.17%
 4182.00 · Employee Benefits - Admin 0.00 250.00 -250.00 0.0%
 4190.01 · Printing 0.00 0.00 0.00 0.0%
 4190.02 · Postage 49.71 0.00 49.71 100.0%
 4190.03 · Paper & Office Supplies 0.00 0.00 0.00 0.0%
 4190.04 · Publications 0.00 0.00 0.00 0.0%
 4190.05 · Membership Dues & Fees 0.00 0.00 0.00 0.0%
 4190.06 · Computer Support 0.00 0.00 0.00 0.0%
 4190.10 · Miscellaneous 15,538.00 1,000.00 14,538.00 1,553.8% *
 4420.00 · Maint - Supplies 0.00 0.00 0.00 0.0%
 4510.01 · Insurance Expenses - Liability 0.00 0.00 0.00 0.0%
 4530.00 · Bank Fees 0.00 0.00 0.00 0.0%
 4590.00 · Other General 350,000.00 0.00 350,000.00 100.0% #
 4800.00 · Depreciation Expense 0.00 0.00 0.00 0.0%
 9120.00 · Transfers Out 0.00 50,000.00 -50,000.00 0.0%
 Total Expense 366,212.71 52,400.00 313,812.71 698.88%
Net Income/(Loss) -316,175.22 133,489.53 -449,664.75 -236.85%


 0.00
 # Loan to Grand Boulevard Apts
 * purchased a truck
 Green Bay Housing Authority
 Budget vs. Actual
 TOTAL
 YTD Budget $ Over Budget % of Budget
 Income
 3510.00 · Management Fee Revenue 0.00 0.00 0.00 0.0%
 3610.00 · Int Income 57,537.12 18,000.00 39,537.12 319.65%
 3690.01 · Other Income - Ins Dividends 1,212.89 0.00 1,212.89 100.0%
 3690.02 · Other Income 72,691.82 179,765.50 -107,073.68 40.44%
 3690.03 · Cell Tower Rent 37,992.49 105,752.69 -67,760.20 35.93%
 9110.00 · Transfers In 0.00 50,000.00 -50,000.00 0.0%
 Total Income 169,434.32 353,518.19 -184,083.87 47.93%
 Expense
 4110.00 · Admin Salaries 47,419.08 81,550.00 -34,130.92 58.15%
 4130.00 · Legal Expense 0.00 2,000.00 -2,000.00 0.0%
 4140.00 · Staff Training 0.00 9,000.00 -9,000.00 0.0%
 4150.00 · Travel 78.29 200.00 -121.71 39.15%
 4171.00 · Auditing Fees 8,000.00 17,100.00 -9,100.00 46.78%
 4182.00 · Employee Benefits - Admin 16,141.07 29,750.00 -13,608.93 54.26%
 4190.01 · Printing 139.03 500.00 -360.97 27.81%
 4190.02 · Postage 92.41 400.00 -307.59 23.1%
 4190.03 · Paper & Office Supplies 108.49 500.00 -391.51 21.7%
 4190.04 · Publications 0.00 200.00 -200.00 0.0%
 4190.05 · Membership Dues & Fees 261.99 400.00 -138.01 65.5%
 4190.06 · Computer Support 0.00 5,000.00 -5,000.00 0.0%
 4190.10 · Miscellaneous 17,442.72 16,000.00 1,442.72 109.02%
 4420.00 · Maint - Supplies 0.00 100.00 -100.00 0.0%
 4510.01 · Insurance Expenses - Liability 3,728.00 3,500.00 228.00 106.51%
 4530.00 · Bank Fees 308.00 600.00 -292.00 51.33%
 4590.00 · Other General 350,000.00 0.00 350,000.00 100.0%
 4800.00 · Depreciation Expense 0.00 0.00 0.00 0.0%
 9120.00 · Transfers Out 0.00 50,000.00 -50,000.00 0.0%
 Total Expense 443,719.08 216,800.00 226,919.08 204.67%
Net Income/(Loss) -274,284.76 136,718.19 -411,002.95 -200.62%
 Report to the
 Housing Authority
 of the City of Green Bay


 MEETING DATE PREPARED BY
 February 19, 2026

AGENDA ITEM # F.3
Director's Report.

BACKGROUND


RECOMMENDATION


FISCAL IMPACT


ATTACHMENTS
None




 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026
 (p) 920.448.3400 (f) 920.448.3426  greenbaywi.gov
 Report to the
 Housing Authority
 of the City of Green Bay


 MEETING DATE PREPARED BY
 February 19, 2026

AGENDA ITEM # F.4
Occupancy Report.

BACKGROUND


RECOMMENDATION


FISCAL IMPACT


ATTACHMENTS
None




 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026
 (p) 920.448.3400 (f) 920.448.3426  greenbaywi.gov

MINUTES OF THE
 GREEN BAY HOUSING AUTHORITY
 THURSDAY, FEBRUARY 19, 2026, 10:30 AM
 City Hall, Room 604 - The Harry Maier Room.
 Virtual attendance is also available via Zoom.


 A. ZOOM MEETING INFORMATION.

1. Join Zoom Meeting Online:
 https://us02web.zoom.us/j/84862532810?pwd=y5BcNGbtdebIDHnboQut8ot4nI4EIh.1

 Or call in by phone: +1 312 626 6799
 Meeting ID: 848 6253 2810
 Passcode: 892180

 If you wish to leave a comment for this public meeting, please fill out the online Comment
 Form prior to the meeting. More detailed Zoom Instructions can be found online.




 B. ROLL CALL.

1. Members: William Vande Castle - Chair, Stephen Srubas - Vice Chair, Sandra Popp, Erin
 Edwards and Randy Scannell

 Meeting began 10:30AM
 Present: Stephen Srubas-Vice Chair, Erin Edwards, Randy Scannell, Excused:William
 VandeCastle-Chair, Sandra Popp, Absent:None

 C. APPROVAL OF THE AGENDA.

1. Approval of the agenda for the Thursday, February 19, 2026, meeting of the Green Bay
 Housing Authority.

 Moved by Randy Scannell, seconded by Erin Edwards, to approve of the agenda for the
 Thursday, February 19, 2026 meeting of the Green Bay Housing Authority. Motion carried.
 Yes:Stephen Srubas, Erin Edwards, Randy Scannell, No:None, Abstain:None

 D. APPROVAL OF MINUTES.

1. Approval of the minutes from the November 20, 2025, meeting of the Green Bay Housing
 Authority.

 Moved by Randy Scannell, seconded by Erin Edwards to approve of the minutes from the
 November 20, 2025 meeting of the Green Bay Housing Authority. Motion carried.
 Yes:Stephen Srubas, Erin Edwards, Randy Scannell, No:None, Abstain:None

 E. REGULAR BUSINESS.

1. Election of Officers: Chair, Vice-Chair and Secretary.

 Moved by Randy Scannell, seconded by Erin Edwareds to approve of moving the election of
 Officers: Chair, Vice-Chair, Secretary to the next meeting. Motion carried. Yes:Stephen
 Srubas, Erin Edwards, Randy Scannell, No:None, Abstain:None

2. Consideration with possible action on approval of the June 30, 2025, Audit Report.




 Moved by Randy Scannell, seconded by Erin Edwards to approve the June 30, 2025, audit
 report. Motion carried. Yes:Stephen Srubas, Erin Edwards, Randy Scannell, No:None,
 Abstain:None

 F. INFORMATIONAL.

1. GBHA Bills.

 Stephanie Schmutzer presents the GBHA Bills. No action needed.

2. GBHA Financial Report.

 Stephanie Schmutzer presents the GBHA Financial Report. No action needed.

3. Director's Report.
 Cheryl Renier-Wigg presents the Director's Report. No action needed.

4. Occupancy Report.

 Jayme Valentine presents the Occupancy report. No action needed.

5. Next Meeting: Thursday, March 19, 2026.




 G. ADJOURNMENT.

1. Adjournment of the Thursday, February 19, 2026, meeting of the Green Bay Housing
 Authority.

 Moved by Erin Edwards, seconded by Randy Scannell to adjourn the Thursday, February 19,
 2026, meeting of the Green Bay Housing Authority. Motion carried. Yes:Stephen Srubas,
 Randy Scannell, Erin Edwards,No:None, Abstain:None

 Meeting adjourned 10:46am