Million-dollar Murray is a more detailed look at some of the issues to do with homelessness and social services.
The general take-home lesson, between these and many other studies (such as the Economist’s report that simply giving homeless people stuff works better than most social programs), is that the frenetic energy devoted to avoiding wasting money is wasting much, much, more money than it saves.
“Penny wise, pound foolish” has apparently been adjusted for inflation.