Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tirs Financial Report topic
No spam. Unsubscribe anytime.
TIRS fund report: Kerrville board hears May balances; FY25 year-end projection $906,209
Summary
City finance staff reported a May TIRS beginning fund balance of $641,190, property-tax increment collected of $268,263 and projected FY25 ending balance of $906,209; board accepted meeting minutes and asked for further budget materials ahead of August meetings.
KERRVILLE, Texas — Jacob Bogish, finance compliance coordinator for the City of Kerrville, presented the Tax Increment Reinvestment Zone (TIRS) financial report on June 11, showing an FY2025 beginning fund balance of $641,190 and property tax increment revenue of $268,263 collected through May.
Bogish reported interest earned to date of $18,468, bringing total revenue collected through May to $286,731, with an outstanding amount yet to be collected of $79,152. On the expenditure side, Bogish reported $25 in expenses through May 31 plus a previously committed $100,000 from an earlier meeting, for total expenses of $100,025. That left an updated fund balance at the end of May of $827,896; staff projected an FY25 ending fund balance of $906,209.
Board members asked about a grant the staff had submitted; a staff member said the application advanced to the next phase but that no new updates had been received since. Bogish said he would present a financial update through July at the board’s next scheduled meeting in August and that the board would review a proposed TIRS FY2026 budget at that time.
The board approved two sets of minutes during the meeting; the chair moved to approve the minutes and the motions passed unanimously for both TIRS minutes and the associated meeting minutes. No additional financial authorizations were taken at the June 11 session.
Staff noted that TIRS cannot issue debt and that the project and financing plan on file with the Texas Comptroller guides allowable uses of funds; board procedures and a cash-flow forecast were discussed as part of the meeting’s informational items.
Next steps: staff will provide the board with a cash-flow forecast and the proposed FY2026 budget materials for review ahead of the August meeting; a workshop on board procedures and the proposed facade grant was also scheduled for the summer.
