2015-07-15T13:00:31-05:00 2014-08-31 742900215 MAXWELL LOCKE & RITTER LLP 401 CONGRESS AVENUE SUITE 1100 AUSTIN TX 787019682 990 2013-09-01 742746185 TEXAS STATE AFFORDABLE HOUSING CORPORATION TEXA 5124773555 2200 EAST MLK JR BLVD AUSTIN TX 78702 ELIZABETH BAYLESS EXECUTIVE VICE PRESIDENT 5124773555 2015-07-15 1 SEAN HOLCOMB P01249221 5123703200 2013 2016-02-25 16:41:14Z DAVID LONG 2200 EAST MLK JR BLVD AUSTIN TX 78702 18398931 0 X WWW.TSAHC.ORG X 1994 TX PROVIDE LOWER INCOME TEXANS WITH HOUSING FINANCE OPTIONS, AND SERVE SPECIFIC WORKFORCE INDIVIDUALS UNDER HOME-LOAN PROGRAMS CREATED BY THE TEXAS LEGISLATURE. 5 5 18 0 0 0 7179786 1491656 5907043 6821963 9751221 8039537 11601 90769 22849651 16443925 0 300000 0 0 1542054 1667473 0 0 114571 14891526 12134276 16433580 14101749 6416071 2342176 236796898 191251434 204922322 159849800 31874576 31401634 X THE ORGANIZATION' S PRIMARY EXEMPT PURPOSE IS TO SERVE THE NEEDS OF LOWER INCOME TEXANS NOT AFFORDED HOUSING FINANCE OPTIONS THROUGH CONVENTIONAL LENDING SOURCES, AND TO SERVE CERTAIN TEACHERS, PROFESSIONAL EDUCATORS, POLICE OFFICERS, AND FIRE FIGHTERS UNDER HOME-LOAN PROGRAMS CREATED BY THE TEXAS LEGISLATURE. 0 0 9588027 300000 11365905 SINGLE-FAMILY PROGRAM - PROVIDES BELOW MARKET 30-YEAR FIXED RATE MORTGAGE LOANS TO ELIGIBLE FIRST-TIME HOMEBUYERS IN TEXAS; PROVIDES DOWN PAYMENT ASSISTANCE TO HOME BUYERS; PROVIDES GRANTS FOR THE CONSTRUCTION OR IMPROVEMENT OF SINGLE FAMILY HOUSING IN TEXAS; PROVIDES COUNSELING FOR HOMEOWNERS WHO ARE IN DANGER OF FORECLOSURE. 2703867 628783 THE ORGANIZATION COORDINATES AN INITIATIVE TO PROVIDE LOW AND NO-COST HOUSING TO U.S. MILITARY VETERANS WHO ARE DISABLED OR LOW-INCOME. THE INITIATIVE IS FUNDED PRIMARILY THROUGH THE DONATION OF FORECLOSED HOMES FROM BANK OF AMERICA AND OTHER MORTGAGE SERVICERS. 317625 THE ORGANIZATION, PARTICIPATING WITH THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS, WAS AWARDED NEIGHBORHOOD STABILIZATION (NSP) FUNDS DURING 2009/2010. THE GOAL OF NSP IS TO HELP STABILIZE COMMUNITIES HARDEST HIT BY FORECLOSURES BY WORKING WITH LOCALLY BASED NONPROFIT AND GOVERNMENT AGENCIES TO ACQUIRE AND REHABILITATE FORECLOSED HOMES AND VACANT LAND PROPERTIES. THESE PROPERTIES WILL THEN BE INHABITED BY LOW-INCOME INDIVIDUALS AND FAMILIES. 852709 2932833 EXPENSES REVENUEASSET OVERSIGHT AND COMPLIANCE 268,467 434,475 MULTI-FAMILY HOUSING SUPPORT & FINANCING 281,961 1,754,424LOAN SERVICING PROGRAM 302,281 743,934 852709 2932833 13462228 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 28 0 18 1 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MELINDA SMITH 5124773555 2200 EAST MLK JR BLVD AUSTIN TX 78702 ROBERT JONES CHAIR 1.00 X 0 0 0 WILLIAM DIETZ VICE CHAIR 1.00 X 0 0 0 JERRY ROMERO MEMBER 1.00 X 0 0 0 GERRY EVENWEL MEMBER 1.00 X 0 0 0 ALEJANDRO MEADE III MEMBER 1.00 X 0 0 0 DAVID W LONG PRESIDENT 40.00 X 147654 0 20805 ELIZABETH L BAYLESS EXECUTIVE VICE PRESIDENT 40.00 X 132131 0 24174 MELINDA GAY SMITH CHIEF FINANCIAL OFFICER 40.00 X 116624 0 17050 TIMOTHY ALMQUIST SINGLE FAMILY COMPLIANCE MANAGER 40.00 X 187072 0 35238 583481 0 97267 4 0 1 0 BROOK COMMUNITY DEVELOPMENT 2320 DURANGO RIDGE BEDFORD TX 76021 CONSTRUCTION 839315 EL PASO COLLABORATIVE FOR CED 616 N VIRGINIA SUITE D EL PASO TX 79902 CONSTRUCTION 188760 AFFORDABLE HOMES OF SOUTH TEXAS 1420 ERIE AVENUE MCALLEN TX 78501 CONSTRUCTION 178524 WOMAN INC 1919 DECATUR PO BOX 571898 HOUSTON TX 77257 CONSTRUCTION 162340 GREENBERG TRAURIG 2101 L STREET NW SUITE 1000 WASHINGTON DC 20037 LEGAL SERVICES 161582 5 232640 1259016 909550 1491656 SINGLE FAMILY LOAN INCOME AND SER 900099 3534377 3534377 MULTIFAMILY LOAN INCOME AND SERVI 900099 1541543 1541543 OTHER LOAN SERVICING AND ISSUER F 900099 743934 743934 ASSET OVERSIGHT/COMPLIANCE FEES 900099 434475 434475 INTEREST INCOME-MF PROGRAM LOANS 900099 212881 212881 354753 354753 6821963 24748 24748 7386006 7386006 104170 13401 90769 90769 90769 2570388 1941605 628783 628783 628783 16443925 14927521 0 24748 300000 300000 442893 360783 64852 17258 1175587 957638 172139 45810 48993 39910 7174 1909 53999 35008 17042 1949 177569 169050 7645 874 84370 54697 26627 3046 436027 355189 63847 16991 107727 91976 14136 1615 106434 69001 33591 3842 71207 46163 22473 2571 104595 84225 18279 2091 22332 14478 7048 806 6847804 6847804 123880 80311 39097 4472 84728 54929 26740 3059 ACT PROGRAM EXPENSES 2076614 2076614 BOND FEES AND PROGRAM F 622241 622241 DPA PROGRAM EXPENSES 514994 514994 GRANT ADMINISTRATION EX 434301 426534 7767 265454 260683 4260 511 14101749 13462228 524950 114571 1768804 927384 14875212 12375704 515811 276394 67339 68467 1972870 489449 1543574 1483421 193480132 155457319 4033859 19961280 20512167 701465 236796898 191251434 334519 1977818 8502616 381847 158019203 149904058 6481992 6196729 1550000 1050000 30033992 339348 204922322 159849800 X 15621689 17634119 16252887 13767515 31874576 31401634 236796898 191251434 X 2342176 165508 -2980626 X X 0 1 X 1 1 1 X 1846032 3549289 1941233 7179786 1491656 16007996 13593062 13550714 14143928 15642984 14940921 71871609 15439094 17100003 16085161 22822770 16432577 87879605 0 0 0 87879605 48616 30229 28926 42924 24748 175443 48616 30229 28926 42924 24748 175443 15487710 17130232 16114087 22865694 16457325 88055048 0.99800 0.99700 0.00200 0.00290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 232240 232240 1289876 200424 1089452 59504 51975 7529 391250 237050 154200 1483421 DOWN PAYMENT ASSISTANCE LOAN PROGRAM 4999086 C MORTGAGE LOANS RECEIVABLE 760447 C MORTGAGE NOTES RECEIVABLE 4978728 C OWNED REAL ESTATE, FED. PROGRAM 9223019 C 19961280 OTHER CURRENT LIABILITIES 69174 MULTIFAMILY CUSTODIAL RESERVES 270174 339348 X 14989900 165508 13401 178909 14810991 1632934 1632934 16443925 12482216 13401 13401 12468815 1632934 1632934 14101749 PART X, LINE 2: THE CORPORATION, A NON-PROFIT CORPORATION OPERATING UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. THE CORPORATION IS CLASSIFIED AS A NON-PROFIT ORGANIZATION OTHER THAN A PRIVATE FOUNDATION. TAX RETURNS FOR THE PAST THREE YEARS ARE OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITION TAKEN AND AS SUCH DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE REQUIRED TO BE REPORTED IN THESE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 13,401. PART XI, LINE 4B - OTHER ADJUSTMENTS: SERVICING FEES NETTED WITH REVENUE FOR AUDIT 76,910. UNCOLLECTIBLE AMOUNTS REPORTED NET OF FEE INCOME FOR AUDIT 514,994. ISSUER FEES NETTED WITH PROGRAM EXPENSES FOR AUDIT 514,316. LAND BANK FEE INCOME NETTED WITH EXPENSES FOR AUDIT 279,371. CLOSING COST REVENUE NETTED WITH EXPENSES FOR AUDIT 247,343. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 13,401. PART XII, LINE 4B - OTHER ADJUSTMENTS: SERVICING FEES NETTED WITH REVENUE FOR AUDIT 76,910. UNCOLLECTIBLE AMOUNTS REPORTED NET OF FEE INCOME FOR AUDIT 514,994. ISSUER FEES NETTED WITH PROGRAM EXPENSES FOR AUDIT 514,316. LAND BANK FEE INCOME NETTED WITH EXPENSES FOR AUDIT 279,371. CLOSING COST REVENUE NETTED WITH EXPENSES FOR AUDIT 247,343. 1 FOUNDATION COMMUNITIES 3036 S 1ST STREET AUSTIN TX 78704 742563260 501(C)(3) 30000 GRANT TO SUPPORT AFFORDABLE HOUSING AUSTIN HABITAT FOR HUMANITY 310 COMAL STREET SUITE 100 AUSTIN TX 78702 742373217 501(C)(3) 30000 GRANT TO SUPPORT AFFORDABLE HOUSING MOTIVATION EDUCATION AND TRAINING INC PO BOX 1838 NEW CANEY TX 77357 741604560 501(C)(3) 30000 GRANT TO SUPPORT AFFORDABLE HOUSING COMMUNITY PARTNERSHIP FOR THE HOMELESS DBA GREEN DOORS 1503 S IH-35 AUSTIN TX 78741 742582369 501(C)(3) 20000 GRANT TO SUPPORT AFFORDABLE HOUSING INTERFAITH ACTION OF CENTRAL TEXAS (IACT) 2921 E 17TH ST 3 AUSTIN TX 78702 742509149 501(C)(3) 20000 GRANT TO SUPPORT AFFORDABLE HOUSING NEW HOPE HOUSING INC 1117 TEXAS AVENUE HOUSTON TX 77002 731419279 501(C)(3) 20000 GRANT TO SUPPORT AFFORDABLE HOUSING ALAMO AREA DEVELOPMENT CORPORATION 8700 TESORO DRIVE SUITE 700 SAN ANTONIO TX 78217 742772667 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING BUCKNER CHILDREN AND FAMILY SERVICES INC 700 NORTH PEARL ST SUITE 1200 DALLAS TX 75201 752571395 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING COMMUNITY DEVELOPMENT CORPORATION OF BROWNSVILLE 901 E LEVEE STREET BROWNSVILLE TX 78520 741835777 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING EASTER SEALS CENTRAL TEXAS 1611 HEADWAY CIR AUSTIN TX 78754 750808811 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING GALILEE COMMUNITY DEVELOPMENT CORPORATION 1404 S OAKES ST SAN ANGELO TX 76903 752865291 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING HABITAT FOR HUMANITY OF SMITH COUNTY 822 W FRONT STREET TYLER TX 75702 752285678 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING LIFEWORKS 3700 S 1ST STREET AUSTIN TX 78704 311753071 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING MY FATHERS HOUSE LUBBOCK 1510 S LOOP 289 LUBBOCK TX 79412 752914146 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING VINCARE SERVICES OF AUSTIN FOUNDATION 2026 GUADALUPE STREET AUSTIN TX 78705 742968167 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING THE WOMENS HOME 607 WESTHEIMER ROAD HOUSTON TX 77006 741467811 501(C)(3) 15000 GRANT TO SUPPORT AFFORDABLE HOUSING 16 0 PART I, LINE 2: ALL GRANT CONTRACTS ARE MONITORED VERY CLOSELY TO ENSURE THAT FUNDS OR PROPERTY ARE USED IN EXACTLY THE MANNER AND FOR THE PURPOSE REQUIRED BY THE DONOR. SEPARATE SUBSIDIARY LEDGERS ARE KEPT FOR ALL GRANT FUNDS. MOST REQUIRE MONTHLY, QUARTERLY OR ANNUAL REPORTING. ALL GRANT FUNDS ARE MAINTAINED SEPARATELY IN THE CORPORATION'S ACCOUNTING RECORDS. X X X 0 0 0 0 0 0 0 0 0 DAVID W LONG PRESIDENT 147654 0 0 0 0 0 17050 0 3755 0 168459 0 0 0 ELIZABETH L BAYLESS EXECUTIVE VICE PRESIDENT 132131 0 0 0 0 0 18924 0 5250 0 156305 0 0 0 TIMOTHY ALMQUIST SINGLE FAMILY COMPLIANCE MANAGER 187072 0 0 0 0 0 27551 0 7687 0 222310 0 0 0 A TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HCL1 2005-10-25 20970475 (2005-B) QUALIFIED MORTGAGE BONDS 0 0 0 B TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HCN7 2006-02-28 24999450 (2006-A) QUALIFIED MORTGAGE BONDS 0 0 0 C TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HCS6 2006-06-15 24999300 (2006-B) QUALIFIED MORTGAGE BONDS 0 0 0 D TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HCT4 2006-10-17 24998050 (2006-C) QUALIFIED MORTGAGE BONDS 0 0 0 A 20970475 8165862 20970475 2006 1 0 1 1 B 24999450 24999450 2007 0 0 1 1 C 24999300 383280 24616020 2007 0 0 1 1 D 24998050 24998050 2007 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 1 0 0 1 PALLAS CAPITAL 1.960000000000 1 0 1 B 0 0 1 1 0 0 1 RABOBANK 1.780000000000 1 0 1 C 0 0 1 1 0 0 1 BAYERISCHE 1.310000000000 1 0 1 D 0 0 1 1 0 0 1 TRANSAMERICA 1.390000000000 1 0 1 A 0 B 0 C 0 D 0 SCHEDULE K, PART IV, LINE 2C A - DATE OF THE REBATE COMPUTATION PERFORMED: 10/25/2010 B - DATE OF THE REBATE COMPUTATION PERFORMED: 02/28/2011 C - DATE OF THE REBATE COMPUTATION PERFORMED: 06/15/2011 D - DATE OF THE REBATE COMPUTATION PERFORMED: 10/17/2011 NOTE: REGARDING THE BOND ISSUES LISTED IN A THROUGH D ABOVE, THESE ARE "QUALIFIED MORTGAGE BONDS" ISSUED PURSUANT TO SECTION 143 OF THE INTERNAL REVENUE CODE BY TEXAS STATE AFFORDABLE HOUSING CORPORATION ("TSAHC") IN ITS CAPACITY AS AN "ON BEHALF OF" GOVERNMENTAL ISSUER PURSUANT TO ITS AUTHORITY UNDER TEXAS LAW (SUBCHAPTER Y OF CHAPTER 2306, OF THE TEXAS GOVERNMENT CODE, AS AMENDED). SUCH BOND ISSUES ARE NOT "QUALIFIED 501(C)(3) BONDS" ISSUED FOR THE BENEFIT OF TSAHC AS A 501 (C)(3) ORGANIZATION. SCHEDULE K, PART IV, LINE 2C A - DATE OF THE REBATE COMPUTATION PERFORMED: 02/22/2012 B - DATE OF THE REBATE COMPUTATION PERFORMED: 06/20/2012 C - DATE OF THE REBATE COMPUTATION PERFORMED: 05/02/2012 D - DATE OF THE REBATE COMPUTATION PERFORMED: 09/19/2012 NOTE: REGARDING THE BOND ISSUES LISTED IN A THROUGH D ABOVE, THESE ARE "QUALIFIED MORTGAGE BONDS" ISSUED PURSUANT TO SECTION 143 OF THE INTERNAL REVENUE CODE BY TEXAS STATE AFFORDABLE HOUSING CORPORATION ("TSAHC") IN ITS CAPACITY AS AN "ON BEHALF OF" GOVERNMENTAL ISSUER PURSUANT TO ITS AUTHORITY UNDER TEXAS LAW (SUBCHAPTER Y OF CHAPTER 2306, OF THE TEXAS GOVERNMENT CODE, AS AMENDED). SUCH BOND ISSUES ARE NOT "QUALIFIED 501(C)(3) BONDS" ISSUED FOR THE BENEFIT OF TSAHC AS A 501 (C)(3) ORGANIZATION. SCHEDULE K, PART IV, LINE 2C A - DATE OF THE REBATE COMPUTATION PERFORMED: 10/30/2012 NOTE: REGARDING THE BOND ISSUES LISTED IN A THROUGH D ABOVE, THESE ARE "QUALIFIED MORTGAGE BONDS" ISSUED PURSUANT TO SECTION 143 OF THE INTERNAL REVENUE CODE BY TEXAS STATE AFFORDABLE HOUSING CORPORATION ("TSAHC") IN ITS CAPACITY AS AN "ON BEHALF OF" GOVERNMENTAL ISSUER PURSUANT TO ITS AUTHORITY UNDER TEXAS LAW (SUBCHAPTER Y OF CHAPTER 2306, OF THE TEXAS GOVERNMENT CODE, AS AMENDED). SUCH BOND ISSUES ARE NOT "QUALIFIED 501(C)(3) BONDS" ISSUED FOR THE BENEFIT OF TSAHC AS A 501 (C)(3) ORGANIZATION. A TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HCV9 2007-02-22 37187500 (2007A-1) QUALIFIED MORTGAGE BONDS 0 0 0 B TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HCX5 2007-06-20 39562188 (2007A-3) QUALIFIED MORTGAGE BONDS 0 0 0 C TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HCU1 2007-05-02 24999563 (2007C) QUALIFIED MORTGAGE BONDS 0 0 0 D TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HDA4 2007-09-19 24998183 (2007B) QUALIFIED MORTGAGE BONDS 0 0 0 A 37187500 262500 36925000 2008 1 0 1 1 B 39562188 39562188 39562188 2008 0 0 1 1 C 24999563 176468 24823095 2008 0 0 1 1 D 24998183 213373 24784810 2010 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 1 1 0 0 1 TRANSAMERICA 1.800000000000 1 0 1 B 1 0 0 1 PALLAS CAPITAL 1.640000000000 1 0 1 C 0 0 1 1 0 0 1 ROYAL BANK OF CANADA 1.600000000000 1 0 1 D 0 0 0 1 0 0 1 PALLAS CAPITAL 1.470000000000 1 0 1 A 0 B 0 C 0 D 0 A TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HDG1 2007-10-30 24998877 2007D) QUALIFIED MORTGAGE BONDS 0 0 0 B TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HEK1 2011-02-24 55560711 2009A/2011A QUALIFIED MORTGAGE BONDS 0 0 0 C TEXAS STATE AFFORDABLE HOUSING CORPORATION 742746185 88271HEH9 2011-12-15 32334640 2009B/2011B QUALIFIED MORTGAGE BONDS 0 0 0 A 24998877 192987 24805890 2008 0 0 1 1 B 55560711 33000000 22560711 2011 1 0 1 1 C 32334640 19200000 13134640 2011 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 0 1 0 0 1 DEPFA 1.610000000000 1 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 0 B 0 C 0 X 29 909550 BROKER PRICE OPINION 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 A DRAFT COPY OF FORM 990 IS PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS FOR THEIR REVIEW BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES EACH BOARD MEMBER, KEY EMPLOYEE AND MEMBER OF MANAGEMENT TO SIGN A CONFLICT OF INTEREST STATEMENT. MANAGEMENT REVIEWS THESE POLICIES EACH YEAR AND REPORTS THE RESULTS TO THE BOARD FOR THEIR CONSIDERATION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS COMPENSATION FOR THE PRESIDENT ANNUALLY. COMPARABLE DATA IS ACQUIRED FROM LIKE AGENCIES. ANY SALARY ADJUSTMENT IS APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE AT ITS CORPORATE OFFICES UPON REQUEST. FORM 990, PART XI, LINE 9: PRIOR PERIOD ADJUSTMENT - EXPENSING OF PRIOR YEAR BOND ISSUANCE COSTS DUE TO IMPLEMENTATION OF GASB STATEMENT 65 -2,980,626. FORM 990, PART XI, LINE 2C: THE PROCESS OF SELECTING AN INDEPENDENT ACCOUNTANT AND OVERSEEING THE AUDIT OF THE FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PRIOR YEAR.