EDC proposes $461,500 budget for 2025–26 with $451,357 in projected expenses

The Bandera Economic Development Corporation reviewed a draft budget for fiscal 2025–26 that projects $461,500 in revenue and $451,357 in expenses, producing a projected surplus of $10,142. Staff said projected revenue includes $436,500 in sales tax receipts (based on the city's projected sales tax) and $25,000 in interest income from two certificates of deposit and the TechStar account. On the expense side, key proposed line items include $10,000 for administrative services, $80,000 for land improvements, $100,000 for miscellaneous projects, $12,000 for the Best Western hotel training agreement, and $1,500 each for a fidelity bond and dues. The board noted a promotional/marketing cap equal to 10% of revenue, which staff calculated as $46,150 available for grants or promotional spending; staff also said roughly $1,207 is carryover from the current year. Bond payments appear in the budget as two fixed amounts—$42,500 and $49,500—representing the EDC's historical half-share of the city's bond principal. Park and recreation items included $20,000 for a disc golf course, $50,000 set aside for park restrooms that could be combined with a state LCRA grant to create a $150,000 total project, and $20,000 for skate park safety updates. Staff said the draft simplifies previous budgets by projecting revenue based on current-year receipts rather than budgeting to spend existing fund balances and that further cleanups were made after a budget workshop. Board members asked clarifying questions about what "land improvements" could include (examples cited: Settlers Park, Maple and Eleventh Street parking lot, Heritage Park), and staff said items will be refined as projects are ready for funding. The board will review the revised draft at the next meeting.