title
Consider/Discuss/Act on McKinney Housing Finance Corporation Budget for FY 2012-2013
Summary
MEETING DATE: September 18, 2012
DEPARTMENT: McKinney Housing Finance Corporation
CONTACT: Cristel Todd, Affordable Housing Administrator, Staff Liaison
RECOMMENDED CITY COUNCIL ACTION:
· Approval of the McKinney Housing Finance Corporation (MHFC) Budget for
FY 2012-13.
ITEM SUMMARY:
· Present the MHFC Budget FY 2012-2013 for approval by City Council.
· The proposed funding will not be utilized by the Affordable Housing staff.
These funds will be used on expenses incurred by the MHFC Board.
BACKGROUND INFORMATION:
· The MHFC Board has over $60,000.00 in their revenue account.
FINANCIAL SUMMARY:
· MHFC revenue for 20112-2013 fiscal year is projected to be $8,100.00.
BOARD OR COMMISSION RECOMMENDATION:
· The MHFC Board reviewed and approved the Budget FY 2012-2013 at the April 13, 2012 Regular Board Meeting.