HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2020-06RESOLUTION NO. FWHFC-2020-06
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING THE BUDGET FOR THE 2020-2021 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 2020-2021 fiscal year of the Corporation (the "Budget") during the
Corporation's meeting on September 1, 2020; and
WHEREAS, the Board desires to adopt the Budget as presented for the Corporation's
2020-2021 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 2020-2021 fiscal
year.
2. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted September 1, 2020.
FORT WORTH HOUSING FINANCE CORPORATION
By: rr c,'01f z1h
Kelly Allen Gray, President
RESOLUTION NO. FWHFC-2020-06
PAGE 2
FORT WORTH HOUSING FINANCE CORPORATION
Proposed Operating Budget- 2020-21
October 1, 2020 through September 30, 2021
Revenues 2020-21
Interest on Investments 22,418
Land sales 100,000
Project Cash Flow 655,266
Developer Fees 306,705
Affordable Housing Payments 244,600
Interest on loans —Columbia I, Mistletoe Station 39,155
Loan repayments —Columbia, Mistletoe Station 34,529
Gas lease/ Royalties 15,000
Misc. revenue 1,000
Total Revenues 1,418,673
Expenditures
Transfer to City (Salaries)
458,840
Office Supplies
1,000
Postage
100
Dues and Membership
4,155
Conferences, Seminars, Training
13,500
Printing
500
PSH Supportive Services
183,000
Contractual services
5,000
Professional Services
25,000
HOME Match
157,017
Audit Fees - CohnReznick
15,375
Consultant Fees
35,000
Property D&O Liability Insurance
2,500
Mowing HFC properties
50,940
Total Expenditures
951,927
Excess of Revenues over Expenditures 466,746