The Housing Fund was created in 2020 for the purpose of accounting for inclusionary housing fees approved by Council in 2018 (Ord. No. 2018-14). Unspent funds will accumulate year-over-year thus providing a greater impact toward appropriate projects as identified under Article XIII of the Salida Code of Ordinances. From time to time, grant revenue or transfers from other funds will be deposited to this fund in order to further assist with the fund's goals.
FY 2022 Budget Changes
A contingency in the amount of $117,000 was established in the budget to allow Council flexibility in financing a project with accumulated reserves that may present itself during the year.
Housing Fund - Revenues vs. Expenses
Funds typically accumulate from year-to-year until a sufficient balance for an impactful project exists.