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.