Title
Consideration of and action on an ordinance approving the Fiscal Year 2025-2026 Deer Park Community Development Corporation Budget.
Body
Summary:
The bylaws of the Deer Park Community Development Corporation ("DPCDC" or "Corporation") 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 2025-2026 was presented for discussion at the April 28, 2025 DPCDC Board of Directors meeting. The Board approved the Fiscal Year 2025-2026 DPCDC Budget at the July 28, 2025 Board meeting and recommended that the budget be submitted to the City Council for approval. Section 501.073 of the Local Government Code states that the Corporation's authorizing unit (City Council) will approve all programs and expenditures of the Corporation and annually review any financial statements of the Corporation (note: financial statements are submitted and reviewed quarterly).
This Fiscal Year 2025-2026 budget for the DPCDC includes current revenue of $4,080,000 (tax revenue and investment revenue) and prior year revenue of $3,881,744 for total revenue of $7,961,744. Total expenditures of $7,961,744 represent $3,763,744 of operating costs, primarily the operating transfer to pay for the debt service costs on the bonds funding the approved Type B capital projects and a $250,000 operating reserve for future maintenance and operating costs associated with the approved projects, $3,948,000 of capital outlay.
The City Council is scheduled to discuss the DPCDC budget at the August 5, 2025 workshop and is then scheduled to adopt the budget at the regular meeting to follow at 7:30 PM (note: the final Fiscal Year 2025-2026 City Budget, which incorporates all funds and component units of the City, is scheduled for adoption on September 16, 2025).
Fiscal/Budgetary Impact:
The proposed DPCDC budget includes all anticipated revenues to be derived in Fiscal Year 2025-202...
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