HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2015-12A RESOLUTION
APPROVING THE BUDGET FOR THE 2015-2016 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 2015-2016 fiscal year of the Corporation (the "Budget") during the Corporation's
meeting on August 4, 2015; and
WHEREAS, the Board of Directors desires to adopt the Budget as presented for the
Corporation's 2015-2016 fiscal year.
THAT the Board approves the attached Budget for the Corporation's 2015-2016 fiscal
year.
2. THAT this Resolution takes effect on the date of its adoption.
Adopted August 4, 2015.
11
FORT WORTH HOUSING FINANCE CORPORATION
By:
Sal I vador Espitio, 11resi ent
FWHFC RESOLUTION NO. FWHFC-2015-12
PAGE 2 (ATTACHMENT)
FORT WORTH1 1 ' 1 • 1
Proposed Bud+.
October I September I 2016
(Unaudited)
Revenues
2015-16
Interest on investments
15,000
Program income grin, loan
901
Land/home sales
50,000
Cash Flow pmts. Race, Terrell & Angle
19,792
Developer Fees
315,884
Gas lease royalties
60,000
Gas lease bonus
2,000
Repayment of Loan
13,999
Misc. revenue
5,000
Total Revenues
482,576
Expenditures
Transfer to City (Salaries)
230,574
Office supplies
1,500
Postage
150
Conferences & seminars
7,000
Electricity
600
Water & waste disposal
300
Dues and membership
5,970
Gas Well consultant
150
Travel
2,500
Printing
200
Contractual services
5,000
Audit Fees (HFC)
26,000
D&O Liability Insurance
2,990
Property Insurance
3,000
Mowing HFC properties
40,000
Security systems (HFC Houses)
600
Total Expenditures
326,534
Excess of Revenues over Expenditures 156,042