Can AHFC continue to fund their operating and capital budget request from corporate receipts?
According to the cash flow analyses, AHFC will be able to continue to fund their operating budget. There are two primary sources of continuing income into the general account. First would be from interest from investments or mortgage loans held temporarily in the general account. The second source of continuing income would be from long-term assets, such as mobile home loans and real estate owned held in the general account. A substantial reduction in the corporation’s unrestricted assets will preclude the corporation from being able to fund its annual capital budget. The merger of AHFC with the former Alaska State Housing Authority has substantially increased the corporation’s capital budget requirement. Projects in the FY 95 AHFC capital budget which total $44.9 million are primarily related to the renovation of existing public housing. • When will additional excess assets in funds restricted by bond covenants be freed? The cash and investment analysis on page 7 identifies over $370
