HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2019-02RESOLUTION NO. FWHFC-2019-02
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING THE BUDGET FOR THE 2019-2020 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 2019-2020 fiscal year of the Corporation (the "Budget") during the
Corporation's meeting on August 6, 2019; and
WHEREAS, the Board desires to adopt the Budget as presented for the Corporation's
2019-2020 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 2019-2020 fiscal
year.
2. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted August 6, 2019.
FORT WOMAJIDUSING FINANCE CORPORATION
President
l
FORT WORTH HOUSING FINANCE CORPORATION
Proposed Operating Budget- 2019-20
October 1, 2019 through September 30, 2020
Revenues
2019-20
Interest on Investments
204,000
Land sales
30,000
Project Cash Flow — Enclave Westport
399,300
Developer Fees
1408,212
Affordable Housing Payments
214,200
Interest on loans — Columbia I, Mistletoe Station
38,767
Gas lease/ Royalties
30,000
Misc. revenue
1,000
Total Revenues
2,325,479
Expenditures
Transfer to City (Salaries)
575,950
Office Supplies
1,000
Postage
100
Electricity
1,000
Water and Waste Disposal
300
Dues and Membership
3,835
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
15,836
Consultant Fees
10,000
D&O Liability Insurance
3,100
Property Insurance
2,500
Mowing HFC properties
46,774
Total Expenditures
1,044,412
Excess of Revenues over Expenditures 1,281,067