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Middletown CDA approves 2026 budget, forwards 2027–29 estimates and accepts financial report
Summary
The City of Middletown Community Development Agency approved its 2026 budget, forwarded estimated budgets for 2027–2029 to the full board for review and authorized submission to New York State's PARIS. The board also accepted monthly financial statements showing account balances, deposits and an outstanding balance with the city.
The City of Middletown Community Development Agency on an unspecified September date approved its 2026 agency budget, voted to forward the agency's 2027–2029 estimated budgets to the full board and authorized submission of the budget documents to New York State's PARIS reporting system.
Leonor (presenter) told the finance committee that the proposed 2026 budget shows total revenue of about $985,022 and total expenses of about $911,400, leaving an estimated surplus of $73,622 for 2026. Leonor said the 2027–2029 estimates presented to the committee were “about the same” as the 2026 figures with modest increases in cost projected over that period.
The finance committee moved and seconded a resolution to forward the attached 2026 budget and the 2027–2029 estimated agency budgets to the full CDA board. The motion carried. At the full-board meeting that followed, the board voted to authorize submission of the budget to PARIS; a roll call was taken and the board recorded unanimous approval with no abstentions.
On the monthly financial report, Leonor reported a checking beginning balance of $4,723.83 through Sept. 30, total deposits of $63,400 and withdrawals of $67,354.83, leaving a low checking-account balance reported in the meeting. The savings account began the period at $64,003.96; a drawdown from the city of $60,000 and transfers to checking were shown, leaving an end balance reported as $60,996.23. Leonor reported an outstanding balance with the city of Middletown of $582,552.77 and noted a sale recorded to date for 84 Linden Avenue.
Board members moved to accept the financial report and approved the bills presented for payment; votes on routine items were recorded as unanimous with no opposition or abstentions. The agency packet and motions recorded at the meeting indicate the board intends to submit required state reports and proceed with the financial plan as presented.
The items discussed included routine approvals (minutes and bills) and did not include changes to tax rates or new contractual commitments at the meeting. The board asked no substantive follow-up questions during the presentations and directed staff to proceed with the PARIS submission and to distribute the budget materials to the full board for review.
