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GBHA Properties 1 Inc. approves FY2026 operating budget; discusses using surplus to support homeownership
Summary
At its June 19 meeting, GBHA Properties 1 Incorporated approved an operating budget for the fiscal year beginning July 1, 2025, noting interest income will cover audit and insurance and discussing possible use of surplus funds to support affordable homeownership via a community land trust or direct subsidy.
GBHA Properties 1 Incorporated on June 19 approved an operating budget for the fiscal year beginning July 1, 2025, and spent part of the meeting discussing whether surplus interest earnings could be used to support affordable homeownership.
The budget approved at the meeting relies on interest income from previously held scattered-site cash. "We have interest income because we do have cash that we have had from when we were actively, running scattered sites. So that interest is what we are using to pay for our audit fees and insurance," Board Member 3 said during the discussion.
Board members said the operating entity has only those two explicit expenses on the single account and that the current budget shows a surplus. At least one board…
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