HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2011-21RESOLUTION NO. FWHFC-2011-21
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING THE BUDGET FOR THE 2011-2012 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 2011-2012 fiscal year of the Corporation (the "Budget") during the Corporation's
meeting on October 4, 2011; and
WHEREAS, the Board of Directors desires to adopt the Budget as presented for the
Corporation's 2011-2012 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 for its 2011-2012
fiscal year of.
2. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted October 4, 2011.
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Kathleen Hicks, President
RESOLUTION NO. FWHFC-2011-22
PAGE 2
FORT WORTH HOUSING FINANCE CORPORATION
Proposed Budget
October 1, 2011 through September 30, 2012
(Unaudited)
Revenues
Interest on investments
Program income prin. loan
Land/home sales
Ga s lease royalties
Misc. revenue
Total Revenues
E xpenditu res
Salaries and benefits
$ 80,000
7 50
182,000
8,000
10,000
$280,750
Other e�cpenses
Office supplies
Postage
Confer�ces & seminars
Engineering services
Electricity
Wat� & waste disposal
Dues and membership
Contractual services
D&O Liability Insurance
Mowing HFC properties
Audit fees ( VOE)
Security systems (HFC Houses)
Land Purchases
Subtotal
Total Expenditures
1,5 00
700
3 ,000
5 00
3 ,000
1,600
2,250
15,000
2,050
30,745
9,5 00
4,000
30,000
$26,924
$103,845
$13 0,769
Excess (Defici�cy) of Revenues over (under) Expenditures
$149,981
Note: Finance will book the excess in to Contractual S ervices ($149,981)