Page 26 - Proposed Operating Budget FY24
P. 26
CITY OF HURST
FY 2023 - 2024 ADOPTED BUDGET
HURST PUBLIC FACILITY CORPORATION
REVENUES AND EXPENDITURES
The Hurst City Council created the Hurst Public Facility Corporation (PFC) in 2019 to facilitate the
construction and management of affordable housing units reserved for senior citizens in Hurst. The PFC
was created under State Law which provides for a broad tax benefit to the private partner operating the
housing units. Through the PFC, the City of Hurst recieves an annual payment from the private partner.
ESTIMATED FUND BALANCE OCTOBER 1, 2023 $428,797
REVENUES
Partnership Payments $100,000
TOTAL REVENUES $100,000
TOTAL FUNDS AVAILABLE $528,797
EXPENDITURES
General Fund Support 50,000
Accounting Services 15,000
TOTAL EXPENDITURES $65,000
FUND BALANCE AS OF SEPTEMBER 30, 2024 $463,797
