Title
Discussion of issues related to the Fiscal Year 2026-2027 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 2026-2027 was presented for discussion at the April 27, 2026 DPCDC Board of Directors meeting. The Board approved the Fiscal Year 2026-2027 DPCDC Budget at the July 27, 2026 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 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, a $250,000 operating reserve for future maintenance and operating costs associated with the approved projects, and $2,795,000 of capital outlay.
The City Council is scheduled to discuss the DPCDC budget at the August 18, 2026 workshop and is then scheduled to adopt the budget at the regular meeting to follow at 7:30 PM (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).
Fiscal/Budgetary Impact:
The proposed DPCDC budget includes all anticipated revenues to be derived in Fiscal ...
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