Preparation and Content of Annual Budget

Sec. 2306.112. PREPARATION AND CONTENT OF ANNUAL BUDGET. (a) On or before August 1 of each year, the director shall file with the board a proposed annual budget for the housing finance division for the succeeding fiscal year. (b) The budget shall state: (1) the general categories of expected expenditures from revenues and income of the housing finance division; (2) the amount of expected expenditures for each category; (3) expected operating expenses of the housing finance division; and (4) the proposed use of projected year-end unencumbered balances. (c) The budget may include a provision or reserve for contingencies or overexpenditures. Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.