Title
Consideration of and action on approving the Fiscal Year 2024-2025 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 2024-2025 was presented for discussion at the April 22, 2024 Board meeting.
The City Council is scheduled to adopt the DPCDC budget at the August 6, 2024 City Council meeting (note: the final Fiscal Year 2024-2025 City Budget, which incorporates all funds and component units of the City, is scheduled for adoption on September 17, 2024).
This item is for the Board of Directors to consider and take action on approving the Fiscal Year 2024-2025 Deer Park Community Development Corporation Budget.
This final proposed budget includes several revisions from the preliminary budget presented and discussed at the April 22, 2024 Board meeting as noted below.
Revenue
Fiscal Year 2024-2025 Sales Tax Revenue was projected in April to total $3,900,000. After reviewing collections from April through July, collections have trended lower than expected. In response, the estimate was decreased to $3,700,000.
Expenditures
An expenditure of $271,645 was added to the Fiscal Year 2024-2025 budget under Grounds to fund the replacement of fencing, dugout benches and score tables at Varnell, Bowyer, Brown and P-Street baseball fields, and the adult softball field.
Capital Outlay
An expenditure of $2,214,000 was added to the Fiscal Year 2024-2025 budget under Improvements Other Than Buildings to fund the following projects:
Piping Rehabilitation at Dow Park, $1,500,000
Laser Grading to Varnell and Bowyer Baseball Fields, $214,000
Construction of Pickball Courts at San Jacinto Park, $500,000
Project Details
Piping Rehabilitation at Dow Park: This project will include the construction and renovation of the drainage pi...
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