Page 62 - FY 2026-2027 Adopted Budget Book

Economic Development Fund

This governmental fund is used to account for the revenue and expenditures related to economic development
related activities, particularly as they pertain to agreements made through Chapter 380 of the Texas Local
Government Code and the City’s Economic Development Incentive Policy and Program.

Under Chapter 380 of the Texas Local Government Code, the City Council is able to partner with local
businesses using authorized tools, such as tax rebates, to provide incentive packages for business
recruitment and retention. This fund is used to account for reimbursements upon verification of compliance
with each agreement's parameters.

Expenditures in this fund are authorized for Council approved agreements. The FY 2026-2027 budget does
not include any new economic development incentive agreements. Any new agreements brought to Council
for approval during the upcoming fiscal year will be accompanied by a budget amendment.

Fund Summary

Projected revenues total $354K, which represents a 294% increase over the prior year.
The revenue increase is from reinstating the annual transfer from the EDC-4B Street Improvement Fund.
Budgeted expenditures are decreasing by 100% to $0 in FY2027.

$400K

$300K

Amount $200K Revenues
Expenditures
$100K

$0
FY 2024 Actuals FY 2025 Actuals FY 2026 Amended Budget FY 2026 Projection FY 2027 Proposed Budget
Fiscal Year
Data Updated: Sep 15, 2026, 9:54 PM View Report

CALCULATION
FY 2024 FY 2025 FY 2026 Amended FY 2026 FY 2027 Proposed % Change
Actuals Actuals Budget Projection Budget
Revenues
Intergovernmental Revenue – $0 $0 $104,451 $0 –
Interest Income $61,395 $52,809 $40,000 $39,945 $54,460 36%
Transfers $50,000 $50,000 $50,000 $50,000 $300,000 500%
REVENUES TOTAL $111,395 $102,809 $90,000 $194,396 $354,460 294%
Expenditures
Contractual Services $202,599 $358,799 $384,760 $383,683 $0 -100%
EXPENDITURES TOTAL $202,599 $358,799 $384,760 $383,683 $0 -100%
Total Revenues less -$91,204 -$255,990 -$294,760 -$189,287 $354,460 –
Expenditures

FY 2026-2027 Adopted Budget Book · September 15, 2026 58