Title
Consideration of and action on approving the Fiscal Year 2026-2027 Deer Park Community Development Corporation Budget and submission to City Council.
Body
Summary:
The DPCDC bylaws provide that the Corporation’s fiscal year shall be the same as the fiscal year of the City, which is October 1 - September 30. A preliminary budget for the DPCDC for Fiscal Year 2026-2027 was presented for discussion at the April 27, 2026 Board meeting.
The City Council is scheduled to adopt the DPCDC budget at the August 18, 2026 City Council meeting (note: the final Fiscal Year 2026-2027 City Budget, which incorporates all funds and component units of the City, is scheduled for adoption on September 15, 2026).
This item is for the Board of Directors to consider and take action on approving the Fiscal Year 2026-2027 Deer Park Community Development Corporation Budget.
This final proposed budget includes several revisions from the preliminary budget presented and discussed at the April 27, 2026 Board meeting as noted below.
Expenditures
An increase of $245,760 was added to the estimated Fiscal Year 2025-2026 expenditures and $425,000 was added to the proposed Fiscal Year 2026-2027 Budget under Operating Transfers to help supplement the Dow Active Complex (DAC) operations.
Capital Outlay
An expenditure of $250,000 to construct a concrete skate park was removed from the Fiscal Year 2026-2027 Budget under Improvements Other Than Buildings. This project is expected to be included in the FY 2027-2028 Budget.
Total Revenue and Expenditures
Total expenditures for Fiscal Year 2026-2027 have been increased by $175,000 from the initial proposed budget. Total prior year revenue needed to balance the budgeted expenditures has been increased by $175,000.
The final proposed Fiscal Year 2026-2027 budget for the DPCDC includes current revenue of $4,620,000 (tax revenue and investment revenue) and prior year revenue of $2,261,332 for total revenue of $6,881,332. Total expenditures of $6,881,332 represent $3,836,332 of operating costs, primarily the operating transfer to supplement DAC operations and to pay for the debt service costs on the bonds funding the approved Type B capital projects, the $250,000 operating reserve for future maintenance and operating costs associated with the approved projects, and $2,795,000 of capital outlay.
Fiscal/Budgetary Impact:
The proposed budget includes all anticipated revenues to be derived in Fiscal Year 2026-2027 from the dedicated ½% Type B sales and use tax and all proposed expenditures for the fiscal year.
Recommended action
Approve the Fiscal Year 2026-2027 Budget and submit to City Council.