The CalHFA Board of Directors convened on November 21, 2024, to discuss key financial updates and future budget planning. The meeting focused primarily on the agency's operating summary and budget development for the upcoming fiscal year.

During the session, it was highlighted that CalHFA, as a self-funded agency, has successfully exceeded its revenue budget for both the fiscal year ending June 30, 2024, and the first quarter ending September 30, 2024. This positive financial performance was attributed to strong lending activities in both single-family and multifamily programs. Additionally, operating expenses were reported to be below budget for the same periods, indicating effective cost management.

Looking ahead, the board emphasized the importance of investing in new program and product development while maintaining control over operating expenditures. A budget assistance team, led by the budget officer and personnel officer, is currently working on a new budget process. The board anticipates presenting the proposed operating budget for the next fiscal year to the full board in May 2025.

The meeting concluded with an invitation for board members to ask questions, signaling an open dialogue about the agency's financial strategies and future initiatives. This proactive approach aims to ensure continued operational success and responsiveness to the needs of California's housing market.