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CEDA adopts FY26 supplemental budget; no new appropriations, funds moved to reserves
Summary
The Springfield Economic Development Agency voted to adopt a FY26 supplemental budget that adjusts beginning cash in the Glenwood and Downtown General Funds to FY25 actuals and places the increased balances into reserves; the resolution includes no new appropriations.
The Springfield Economic Development Agency on Oct. 13 voted to adopt a resolution to adjust resources and requirements in the CEDA Glenwood General Fund and the CEDA Downtown General Fund for fiscal year 2026. Nathan Bell, presenting the item, said the change simply aligns beginning cash to FY25 actual results and moves those increases into reserves; there are no new appropriations.
“It's as straightforward and simple as a supplemental budget gets,” Bell said. “All we're doing is adjusting beginning cash to the FY25 actual results.” After a brief public hearing with no public comment, the board adopted the resolution by voice vote.
Board members recorded affirmative votes during the roll call: Board member Van Gordon (yes), Board member Weber (yes), Board member Moe (yes), Chair Rodley (yes), Board member Stout (yes), and Board member Lovell (yes). Vice Chair Blackwell was excused for the evening. The motion passed with the board approving the resolution to place the additional beginning-cash balances into reserves.
