The Conroe Industrial Development Corporation (CIDC) meeting held on September 24, 2025, focused on key financial reports and the upcoming fiscal year budget. The meeting began with the approval of the previous meeting's minutes, followed by a discussion on the third quarter investment report.

Michael presented the investment report, covering the period from April 1 to June 30, 2025. The report indicated a decrease in market value from $41.8 million to $39.3 million, with interest earnings of $449,000, reflecting a $9,000 decline from the previous quarter. The yield to maturity was reported at 4.32%, down from 4.36%. Michael noted that all investments comply with the Public Funds Investment Act and the city's investment policy, emphasizing the liquidity and safety of the current investment strategy.

Following the investment report, the board moved to discuss the fiscal year 2025-2026 budget. A one-page comparison was provided, highlighting a projected beginning fund balance of $31,057,618 as of October 1, 2025. Total revenues are estimated at $18,795,307, while total expenses are projected to be $27,427,432. Adjustments included a reduction in the supplies budget by $5,000 and travel expenses by $15,000, alongside a 6% cost-of-living adjustment (COLA) for staff, which is expected to cost $16,400. The anticipated net loss for the fiscal year is $8,632,125, primarily due to a significant contribution of $14.4 million for water well infrastructure.

The meeting concluded with a motion to accept the budget, which was unanimously approved. The CIDC will continue to monitor financial performance and make adjustments as necessary in future meetings.