HomeMy WebLinkAboutFWHFC-2025-18 - Fort Worth Housing Finance Corporation (FWHFC) - ResolutionRESOLUTION NO. FWHFC-2025-18
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING AN AMENDMENT TO THE BUDGET FOR THE 2025-2026 FISCAL YEAR
WHEREAS, the Board of Directors of the Fort Worth Housing Finance Corporation (the
"Board"), a Texas housing finance corporation (the "Corporation"), annually reviews and adopts
a budget that determines the allocation of the Corporation's funds; and
WHEREAS, the Board most recently adopted the 2025-2026 annual budget during the
Corporation's meeting on August 26, 2025; and
WHEREAS, the Corporation was notified that the Corporation's previous insurance
provider was ending its contract on September 30, 2025, requiring the Corporation to secure a new
insurance provider; and
WHEREAS, the cost of the new insurance provider is significantly higher than the amount
budgeted, which requires an adjustment to three line items in the adopted 2025-2026 budget to cover
the increase; and
WHEREAS, the Board desires to adopt the amended 2025-2026 budget as attached, with
such adoption being effective immediately.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the attached am e n d e d Budget for the Corporation's 2025-
2026 fiscal year.
2. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
Adopted October 28, 2025
FORT WORTH HOUSING FINANCE CORPORATION
P By:
Elizabeth Beck
President
Attest:
Jannette S. Goodall
RESOLUTION NO. FWHFC-2025-18
PAGE 2
Proposed Amended Fort Worth Housing Finance Corporation 2025-2026 Budget
Revenues (NO CHANGE)
Project Cash Flow
Developer Fees
Affordable Housing Payments
Interest on Investments
Land Sales — Vacant Lots
Gas Lease — Royalties
Loan Repayments
Interest on Loans
Miscellaneous Revenue
Total
Expenditures
Affordable Housing Project Expense
Terrell Homes — Loan
Transfer to City (Salaries)
PSH Supportive Services
Professional Services
HOME Match
Consultant Fees
Mowing HFC properties
Contractual services
Conferences, Seminars, Training
Audit Fees - CohnReznick
Dues, Membership & Renewals
Property, Liability & D&O Insurance
Office Supplies
Printing
Property Tax -Mineral Interest
Postage
Net Contribution to Fund Balance
Approved
2025-2026
$700,000 1
699,997
451,000
220,000
100,000
35,0001
16,1941
13,6191
1,000
$2,236,811
Approved
2025-2026
$756,015
500,000
313,680
255,000
200,0001
157,0171
100,0001
47,0901
250001
20,000
20,000
16,3201
15,0001
500�
5001
3501
1001
(148,419) 1
Amended
2025-2026
Amended
2025-2026
$700,000
699,997
451,000
220,000
100,000
35,0001
16,194�
13,619�
1,000�
$2,236,811
Comments
$756,015
458,657
313,680
255,000
$190,000� Reduced by $10,000
157,017�
$90,000IReduced by $10,000
47,0901
25,0001
20,0001
20,0001
16,3201
35,000 Increased by$20,000
5001
5001
3501
1001
(148,419)1
Total Expenditures 1 $2,236,811 1 $2,236,811