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.
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