Title
Consider/Discuss/Act on the Housing Finance Corporation’s Budget for FY 2010-11
Summary
MEETING DATE: September 21, 2010
DEPARTMENT: Community Services, Affordable Housing Office
CONTACT: Cristel Pruneda, Affordable Housing Administrator
RECOMMENDED CITY COUNCIL ACTION:
• Discussion of the Housing Finance Corporation (HFC) proposed budget for FY 2010-11.
ITEM SUMMARY:
• The proposed $4,500 budget request provides the HFC Board with funding for office and food supplies, travel and training, postage and publications, associations and professional services.
• The proposed funding will not be utilized by the Affordable Housing staff. These funds will be used on expenses incurred by the HFC Board.
• The proposed City of McKinney FY 2010-11 HFC budget is provided.
• Final approval of the HFC FY 2010-11 Budget will take place in September 2010.
BACKGROUND INFORMATION:
• The HFC Board has $44,478.87 in unreserved cash in their account.
FINANCIAL SUMMARY:
• See attached budget.
BOARD OR COMMISSION RECOMMENDATION:
• The HFC Board approved the proposed budget for FY 2010-11.