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Economic development fund projected to run out by 2027 without new revenue; committee moves FY26 budget forward
Summary
Staff presented the economic development fund budget and a forecast showing the fund balance declining to near zero in 2027; committee members discussed options including reduced contributions, seeking new revenue streams, or reallocating existing funds.
County staff presented the economic development fund budget and a multi-year forecast showing the fund balance would be effectively exhausted in 2027 if current commitments continue. The Finance and Audit Committee agreed to move the FY26 proposed budget forward while flagging the need for a funding plan for future years.
Staff explained the fund originated from an old revolving loan program and now supports county partnerships and contracts, including the county’s…
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