HomeMy WebLinkAboutResolution 02-2017WHEAT RIDGE HOUSING AUTHORITY
RESOLUTION NO. 02
Series of 2017
TITLE: A RESOLUTION ENACTING A BUDGET AND
APPROPRIATION FOR THE YEAR 2017
WHEREAS, C.R.S. 29-1-103 (1) of the 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 2017 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 2017 by
the Authority on January 24, 2017.
NOW, THEREFORE, BE IT RESOLVED by the Wheat Ridge Housing Authority
as follows:
Section 1. The year 2017 budget as shown on Exhibit 1 attached hereto is hereby
approved.
Section 2. Total expenditures of the Authority do not exceed available revenues and
beginning fund balance.
Section 3. A certified copy of this resolution shall be filed with the Division of Local
Government.
ADOPTED this�4k. day of So,NL, , 2017.
*air�,Housing Authority
ATTEST:
Secretary to the thority
Wheat Ridge Housing Authority
Proposed Budget
Beginning Fund Balance
Ending Fund Balance
Restricted Fund - Fruitdale
Unrestricted Fund
Ending Fund Balance
1,369,542 897,021 897,020 601,744
897,021 601,744 15,663 592,844
570,000 570,000
31,744 22,844
601,744 592,844
2017
Unaudited
Proposed
Actual
Actual
2016
2017
2015
2016
Budget
Budget
Ordinary Income/Expense
Income
500 - Sale of Units
0
10
10
0
535 - Interest Income
766
590
680
0
545 -Historic Grant
0
0
0
0
Total Income
766
600
690
0
Cost of Goods Sold
551 - Beginning Cost of Units
0
0
0
0
562 - Fruitdale Costs
0
266,747
266,747
0
Summary Rehabilitation Costs
52,650
2,604
570,000
0
599 - Ending Cost of Units
-52,650
0
0
0
Total COGS
-1
269,351
836,747
0
Gross Profit
767
-268,751
-836,057
0
Expense
702 -Advertising
0
100
0
704. Buyer Incentives
4,000
0
0
0
705 - Closing Costs
991
250
5,000
0
710. Commissions
11,040
0
0
0
750. Accounting & Legal
6,200
6,200
8,000
6,500
750. Fruitdate Survey/entitlements
15,000
0
751 - Fruitdate EPS (Ecnomic & Planning
System)
5,000
0
762. Bank Charges
73
122
100
0
771 - City Reimbursement
8,008
17,664
8,000
2,400
775 - Conference & Meeting Exp
0
21
200
0
787. Dues, Books & Subscripti(
0
200
0
802. Gardening & Maintenance
3,093
2,040
2,000
0
820 -Miscellaneous
0
500
0
825 - Office Supplies
0
30
100
0
832- Postage
0
100
0
843. Repairs
200
200
1,000
0
857 - Taxes - Real Estate
0
0
0
872 - Utilities
532
0
0
0
Total Expense
34,137
26,526
45,300
8,900
Net Ordinary Income
-33,370
-295,277
-881,357
-8,900
Other Income/Expense
Other Income
564 - CDBG Grant (refund)
49,950
0
Other (Expense)
925 - Loss on Property Sale
40,459
930- CDBG Funds Return
448,642
0
Total Other Expense
489,101
0
0
0
Net Other Income/Expense
-439,151
0
0
0
Net Income
-472,521
-295,277
-881,357
5,900
Beginning Fund Balance
Ending Fund Balance
Restricted Fund - Fruitdale
Unrestricted Fund
Ending Fund Balance
1,369,542 897,021 897,020 601,744
897,021 601,744 15,663 592,844
570,000 570,000
31,744 22,844
601,744 592,844
2017