Capital Expenditure Budget Form
WHEDA Form 700 Revised 10/14
if WHEDA ld if th
Capital Expenditures Budget
The Capital Budget Form 700 is required to be submitted for all WHEDA & ARRA developments,
unless approval has been granted by the Portfolio Risk Officer (PRO) to waive the requirement. It is
due thirty days prior to the start of the fiscal year for the development. For projects operating on a
calendar year basis, it is due on December 1 of each year.
The Capital Budget form 700 is also available on WHEDA’s website at
Submission of the capital budget does not invoke acceptance of the expenditures by WHEDA
or grant pre-approval for any amount to be disbursed from WHEDA-held reserve funds.
Requests for disbursements from these reserves must conform to the WHEDA Reserve
This form is intended to identify projected capital expenditures for the development during the next
three years and to determine if cash transfers will be necessary from WHEDA held reserves or if the
ree years an
e reserves, or e
development can afford to pay from operations. This determination is made based on the assumption
that management has some estimate of revenues and expenses for the next few years.
• Enter the WHEDA development number, name, management company, phone number, email
address, if applicable, and the name of the individual completing the spreadsheet.
• The fiscal years have been entered in the top column of spreadsheet for which the capital budget
applies. A three-year plan is required.
• Enter a brief description of the expenditure, such as quantity, location of repair or replacement, or
specific information related to the type of work needing to be performed.
next three years. Do not include operating expenses that are incurred from normal business
operations, unless it is estimated that cash flows will not cover the expense . Examples of capital
expenditures are listed on the form, but are not limited to these items.
• Enter totals in each column for each year.
Management Agent and Owner must sign the signature page.
• Submit to WHEDA at least 30 days prior to the start of the development’s fiscal year. This will be
December 1 for developments that report on a calendar year.
WHEDA Form 700 Revised 12/14
WHEDA DEVELOPMENT #: ________________________ Prepared By: ____________________________________
Development Name:____________________________________________ Phone #: ________________________________________
Management Name:____________________________________________ E-mail Address: __________________________________
Year 20 Year 20 Year 20
Type of Expenditure Description
Computer Equipment & Software
Equipment & Machinery (Specify)
Exterior Walls, Siding, Foundation
Flooring (vinyl, wood, etc.)
Interior Walls, Ceiling
Play areas, equipment, benches
Roofing, flashing, chimneys & vents
Section 504 Compliance (Specify):
Trash Collection Area
Walks, steps, ramps and handrails
Total Budgeted Capital Expenditures
CAPITAL EXPENDITURES BUDGET
Disbursement of Reserve Funds
Management Entity’s Signature Owner’s Acceptance
Budget prepared by:
I have reviewed and I approve the Capital Expenditures Budget. I have read and accept WHEDA’s reserve
_______________________________________________ _________________________ ______________________________________________ __________________
Name and title Date Owner Date
2. The total disbursement requests for a project are less than $5,000 per month; and
3. If the property is a section 8 development that has extended its low-income use through WHEDA’s Preservation Program, the expenditure has
been identified in the Capital Needs Assessment; and
4. The expenditure does not require WHEDA specifications (i.e., roofing, concrete, asphalt); and
5. For carpeting and flooring, the expenditure meets HUD/FHA standards and requirements
Please remember escrowed funds may not be available to fund capital improvement initiatives unless these initiatives are reviewed and approved by WHEDA
prior to contracting for purchase of goods and services.
1. The development has minimum reserve balances in aggregate of $1,500 per unit after the amount of the request is deducted; and
Expenditures that are not
pre-authorized by WHEDA may be disbursed from reserve accounts if all of the following conditions apply:
Management Entity Name Ownership entity name
Telephone number Telephone number
Email address Email address
WHEDA Form 700 Revised 10/14