HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2021-05RESOLUTION NO. FWHFC-2021-05
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING THE BUDGET FOR THE 2021-2022 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 2021-2022 fiscal year of the Corporation (the "Budget") during the
Corporation's meeting on September 14, 2021; and
WHEREAS, the Board desires to adopt the Budget as presented for the Corporation's
2021-2022 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 2021-2022 fiscal
year.
2. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted September 14, 2021.
FORT WORTH HOUSING FINANCE CORPORATION
By: �.p.roS...IE.... Flores
........
Carlos Flores, President
FORT WORTH HOUSING FINANCE CORPORATION
Proposed Operating Budget- 2021-22
October 1, 2021 through September 30, 2022
Revenues
2021-22
Interest on Investments
3,750
Land sales
100,000
Project Cash Flow
680,021
Developer Fees
324,406
Affordable Housing Payments
244,600
Interest on loans —Columbia I, Mistletoe Station
35,096
Loan repayments — Columbia, Mistletoe Station
52,889
Gas lease/ Royalties
15,000
Misc. revenue
1,000
Total Revenues
1,456,762
Expenditures
Transfer to City (Salaries)
435,515
Office Supplies
1,000
Postage
50
Dues and Membership
3,605
Conferences, Seminars, Training
15,000
Printing
500
PSH Supportive Services
183,000
Contractual services
5,000
Professional Services
50,000
HOME Match
157,017
Audit Fees - CohnReznick
16,145
Consultant Fees
200,000
Property D&O Liability Insurance
2,500
Mowing HFC properties
47,544
Total Expenditures
1,116,876
Excess of Revenues over Expenditures 339,886