HomeMy WebLinkAboutHA Resolution 2007-01
ORI GINAL
WHEAT RIDGE HOUSING AUTHORITY
RESOLUTION NO. 01
Series of 2007
TITLE:
A RESOLUTION ENACTING A BUDGET AND
APPROPRIATION FOR THE YEAR 2008
WHEREAS, C.R.S. 29-1-103 (I) ofthe Local Government Budget Law of Colorado requires
certain local governmental entities to prepare and adopt an annual budget; and
WHEREAS, the City Attorney has opined that the provisions of the Budget Law apply to the
Authority; and
WHEREAS, notice of adoption of this 2008 budget and appropriation was given by the Housing
Authority in compliance with C.R.S. 29-1-106; and
WHEREAS, in compliance with the provisions of the Budget Law regarding notice, objections,
and hearing, a public hearing was held on this Budget and Appropriation for 2008 by the Authority on
November 27, 2007.
THEREFORE, BE IT RESOLVED by the Wheat Ridge Housing Authority as follows:
Section I. The year 2008 budget as shown on Exhibit 1 attached hereto is hereby approved.
Section 2. Sources of revenue for the Authority are sales of units rehabilitated by the Authority,
Community Development Block Grant funds, and interest earned.
Section 3. Total expenditures of the Authority do not exceed available revenues and beginning
fund balance.
Section 4. A certified copy of this resolution shall be filed with the Division of Local
Government.
ADOPTED the d7~ayof ~,2007.
WHEAT RIDGE HOUSING AUTHORITY
~1 iL/!u~
Chairperson
ATTEST:
s~1!
Wheat Ridge Housing Authority 11-20-07
Proposed Budget
2008
Unaudited Proposed
"". ProJ&Cted 2007 Z008
2006 Budgll! 2007 Budget Budoe'
Ordlnarylncom&lExpensll
Income
50' . Sale ofUnllS 977,800 1,215,000 248,900 1,000,000 1,297.600
". 'Rent 9,000 10,000 9,000 10,000 5,000
'" . Inlerest Income 10,907 1,000 28,000 5,000 12,000
50. . Miscellaneous Income '00 '" 500 500
Tolellnc:ome 997,707 1,226,500 284.075 1,015,500 1,315,100
Cost of Goods Sold
551 . BeginnIng Cost of Units 1,010,671 963.707 525,081 480,370 1,125.167
S55'Purct>aseofUrdlS 237,000 600,000 735,900 liOO,OOO
Summary RehabUllatlon Costs 122,039 400.000 80,li01 400,000 120.000
599 'Ending Cost of Units -525,01.11 -1,000,000 -1,125,167 -600,000
Total COGS 84<\,629 963,707 218,415 880,370 1,245,167
GrossProfil 153,078 262,793 67,860 135,130 69,933
Exp&r\Se
700'SelllngCosts 3,020 3.525 2,635 2,597 3,765
704'6uyerlncentlvllS 30,453 22,437 31,155 12,000
709 'Closing Costs 5,487 10,000 1,588 5.745 10,686
750 CommissIons 40,450 58,320 9,693 41.368 62,285
750 'A<::countlng&Legal 7,075 9,000 7,000 9,000 8,000
'" Bank Charges "0 50 1,200 '" 1,200
771 'City Reimbursement 4,112 6,000 5,000 6,000 5,000
no . Conference & Meeting EJ<pense '" 500 75 500 '"0
777'ContracIServlces 1,600 0
787'Dues,Books&Subscrlptlons '" 500 '" 500 500
802.. Gardening & Mlllntenance 2,596 1,500 2,500 2,500 2,500
804 . Homeowners Assoclatlon Dues 2,989 2,000 3,800 2,000 3,600
BOT, Insurance 5,956 1,732 UOO
820_Mlscellaneous " ''"
82500fflc(tSupplles " "" "" '50
Bn'Postag(t 33 100 " 100 100
833'Printlng&Coples 0 0 0
843oR(tpalrs 4,635 1,500 8,000 1,500 1,500
." o Supplies "0 '50 ''"
B57'TlIJ<es_RealEstate 1,000 175 1,000 1,000
865.TrllShR(tmClval "0 500 400 500 500
Bn.U@tles 1,322 2,000 2,800 2,000 3,000
Total Expense 110,737 119,438 46,959 107,015 118,436
Net Ordinary Income 42,341 143,355 20,701 28,115 -48,503
O\h(trlncom(t/EJ<p(tns(t
Oth(trlncome
564 'CDBG Grant 150,000 112,500 75,000 37,500
OIh(tr(ExpWlse)
910'IntereslExpense 1.500 9.MO
TotaIOIh(trE1<pense 1,500 9,MO
Net Olher IncomeJExpense 150,000 111.000 75,000 27.660
Netlnc:ome 42,341 293,366 131,701 103,116 -20,843
BelllnnlnllFundBalance 1,203,063 1.385,110 1,245,406 1,385,110 1,377,107
EndlnllFundBalanc:e 1.245,404 1.678,465 1,377,10T 1,488,225 1,356,264
EXHIBIT 1