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Presentation, discussion, and possible action on the SFY 2025 Housing Finance Division Budget
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RECOMMENDED ACTION
recommendation
WHEREAS, the Governing Board of the Texas Department of Housing and Community Affairs ("the Department" or "TDHCA") is required to approve a SFY 2025 Housing Finance Division Budget; and
WHEREAS, the Department is required to submit the budget to the Office of the Governor (OOG) and the Legislative Budget Board (LBB);
NOW, therefore, it is hereby
RESOLVED, that the SFY 2025 Housing Finance Division Budget, in the form presented to this meeting, is hereby approved; and
FURTHER RESOLVED, that upon approval by the TDHCA Governing Board, the Department will submit the budget to the OOG and the LBB.
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BACKGROUND
In accordance with Tex. Gov't Code ?2306.113, the Department shall create a separate annual budget for the Housing Finance Division to certify the housing program fee revenue that supports the Department. While at the time the statute was created such a division existed, the duties associated with the Housing Finance Division have been spread among multiple divisions in the agency as reorganizations to improve efficiency have occurred. This budget is a subset of the whole operating budget and shows the Housing Finance revenues also known as Appropriated Receipts that support the operating budget.
This SFY 2025 Housing Finance Division Budget, which the Board is being asked to approve, is $22,141,505. The Housing Finance Budget complies with the provisions of the General Appropriations Act (GAA).
In addition, in accordance with Tex. Gov't Code ??2306.117 and 2306.118, the Department incurs operational and nonoperational expenses in carrying out the functions of the Housing Finance Division. These types of expenses may be paid only from revenues or funds provided under this Chapter. The revenue and funds of the Department received by or payable through the programs and functions of the Housing Finance Division, ot...
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