HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2016-17RESOLUTION NO. FWHFC-2016-17
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING THE BUDGET FOR THE 2016-2017 FISCAL YEAR
WHEREAS, the Board of Directors of the Fort Worth Housing Finance Corporation, a
Texas housing finance corporation (the "Corporation"), reviewed the attached budget proposed
for the 2016-2017 fiscal year of the Corporation (the "Budget") during the Corporation's
meeting on August 9, 2016; and
WHEREAS, the Board of Directors desires to adopt the Budget as presented for the
Corporation's 2016-2017 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 2016-2017 fiscal
year.
2. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted August 9, 2016.
FORT W TH HOUSING FINANCE CORPORATION
"r9 By:
Salvador Espino, Presiden
RESOLUTION NO. FWHFC-2016-17
PAGE 2
FORT WORTH HOUSING FINANCE CORPORATION
Proposed Fiscal Year 2016-17 Budget
October 1, 2016 through September 30, 2017
Revenues
2016-17
Interest on investments
7,500
Loan repayment-W. Roberson
1,080
Land/home sales
50,000
Cash Flow pmts. - Race, Terrell, Angle
113,147
Developer Fee - Terrell, Race, Angle, Enclave
834,837
Gas lease royalties
60,000
Gas lease bonus
2,000
Misc. revenue
2,000
General Contractor Fee - Angle
247,935
Total Revenues
1,318,499
Expenditures
Transfer to City (salaries)
458,839
Office supplies
1,500
Postage
150
Conferences and seminars
9,500
Electricity
3,600
Water and waste disposal
4,500
Dues and membership
3,090
Gas Well consultant
150
Printing
200
PSH Supportive Services - Reserve at Quebec
80,000
Contractual services
10,000
Audit Fees-CohnReznick
15,000
Consultant Fees - Cavile
75,000
D&O Liability Insurance
2,990
Property Insurance
3,000
Mowing HFC properties
45,000
Security systems (HFC houses)
600
Total Expenditures
713,119
Excess of Revenues over Expenditures 605,380