Title
Consideration of and action on approving the Fiscal Year 2025-2026 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 2025-2026 was presented for discussion at the April 28, 2025 Board meeting.
The City Council is scheduled to adopt the DPCDC budget at the August 5, 2025 City Council meeting (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).
This item is for the Board of Directors to consider and take action on approving the Fiscal Year 2025-2026 Deer Park Community Development Corporation Budget.
This final proposed budget includes several revisions from the preliminary budget presented and discussed at the April 28, 2025 Board meeting as noted below.
Expenditures
An increase of $334,240 was added to the Fiscal Year 2025-2026 budget under Operating Transfers to help supplement the Dow Active Complex during its first year of operations.
Capital Outlay
An expenditure of $248,000 was added to the Fiscal Year 2025-2026 budget under Improvements Other Than Buildings to fund the following projects:
Construction of a Walking Trail at San Jacinto Park, $200,000
Arch Sign for Spencerview Complex, $48,000
Project Details
Walking Trail at San Jacinto Park: This trail will go around the new Pickleball Courts as an added amenity to the Park.
Arch Sign for Spencerview Complex: Funds were added to the budget to construct a nice entryway arch sign for the Spencerview Complex.
Total Revenue and Expenditures
Total expenditures have been increased by $582,240 from the initial proposed budget. Total prior year revenue needed to balance the budgeted expenditures has been increased by $582,240.
The final proposed...
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