MaineHousing, a quasi-independent authority, is a $1.6 billion financial institution with a $13 million operations budget funded with the difference between the interest it receives on its mortgages and the interest it pays to investors as well as federal grants. MaineHousing’s operations are not funded by the state’s taxpayers. The organization is governed by a 10-member Board of Commissioners and overseen by the Maine Legislature.
MaineHousing processes hundreds of thousands of financial transactions. These include program payments to subgrantees such as community action agencies who partner with MaineHousing to deliver services to consumers, loan closings for rental housing development projects, loan purchases of First Home mortgages, rental assistance payments to landlords, loans and other assistance to clients, and day-to-day operational transactions.
The financial transactions are accounted for in one of two accounts: Accounts Payable and Cash Disbursements. In response to a recent Freedom of Access Act (FOAA) request, MaineHousing provided an accounting for all financial transactions from 2005 to 2010 (with confidential client information removed). Additional requests (see timeline) sought other expenditures and salaries.
This information is available for review:
Also provided are the 50 largest accounts payable transactions from each year, 2005 to 2010:
List of Selected Vendors and Descriptions - When MaineHousing released its complete vendor list in January, it received questions about some smaller vendors. This list describes those transactions.