HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2022-11RESOLUTION NO. FWHFC — 2022-11
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING THE BUDGET FOR THE 2022-2023 FISCAL YEAR
WHEREAS, the Board of Directors of the Fort Worth Housing Finance Corporation (the
"Board"), a Texas housing finance corporation (the "Corporation"), reviewed the attached
budget proposed for the 2022-2023 fiscal year of the Corporation (the "Budget") during the
Corporation's meeting on September 27, 2022; and
WHEREAS, the Board desires to adopt the Budget as presented for the Corporation's
2022-2023 fiscal year.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the attached Budget for the Corporation's 2022-2023 fiscal
year.
2. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted September 27, 2022.
FORT WORTH HOUSING FINANCE CORPORATION
By:
Carlos Flores
President
Attest:
Jannette S. Goodall
Corporate Secretary
RESOLUTION NO. FWHFC-2022-11
Page 2 of 2
FORT WORTH HOUSING FINANCE CORPORATION
Proposed Operating Budget
October 1, 2022 through September 30, 2023
Revenues
Interest on Investments
Land sales - Vacant lots
Land sales - Vacant lots - Evans -Rosedale
Project Cash Flow - Enclave Park and Enclave Westport
Developer Fees
Affordable Housing Payments
Interest on loans
Loan repayments (Columbia & Mistletoe)
Gas lease -Royalties
Misc. revenue
2022-23
70,000
100,000
2,375,746
1,300,000
1,194,787
451,000
20,745
36,193
100,000
1,000
Total 5,649,471
Expenditures
Transfer to City (Salaries)
435,515
Office Supplies
500
Postage
50
Dues, Membership & Renewals
10,120
Conferences, Seminars, Training
20,000
Printing
500
PSH Supportive Services
183,000
Affordable Housing Project Expense
3,000,000
Contractual services
49,000
Property Tax -Mineral Interest
250
Professional Services
50,000
HOME Match
157,017
Audit Fees - CohnReznick
16,950
Consultant Fees
200,000
Property, Liability & D&O Insurance
3,500
Mowing HFC properties
43,448
Total Expenditures
4,169,850
Excess of Revenues over Expenditures
1,479,621