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DHFC treasurer's report: cash rises after July closings; $1.5M subordinate loan added

5916622 · October 9, 2025

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Summary

Staff reported a $1.6 million cash increase in July following three closings, total income of just over $6.1 million for the first seven months of the fiscal year, and a new $1.5 million subordinated loan with a September 2044 maturity.

Finance staff presented the corporation’s treasurer’s report for the seven months ending July 31, 2025, reporting higher cash and income driven by recent transaction closings.

Shannon (finance staff) told the board that July included three transaction closings that produced a $1,600,000 increase in cash for the month. "The total income for these 7 months is just over $6,100,000, as compared to less than half that in the prior year," Shannon said during the presentation. The report also shows a net change in financial position for the seven months of $5,797,338.

Staff noted the corporation recorded a $1,500,000 subordinated loan with a maturity date of Sept. 2044 as a new long‑term asset on the books. Operating expenses remain low for the period, according to the presentation. Board members had no additional direction beyond accepting the report for the record; staff will continue to provide monthly financial updates.