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Job Development Corporation reports March unaudited financials, seeks final arena fire-alarm funding
Summary
City finance and economic development staff presented unaudited March 31, 2025, fund-to-actuals for Seawall, Arena and other Type A funds, outlined pending project spending, and requested final funding to install a fire alarm system at the American Bank Center arena.
Sergio Villasana, director of finance and procurement, and Arturo Marcus, director of the Office of Economic Development, presented unaudited budget-to-actuals for Type A funds and the proposed FY2025–26 Job Development Corporation budget.
The presentations show the Seawall fund with roughly $9.2 million budgeted in revenues for the fiscal year and about $4.6 million collected as of March 31, 2025, leaving approximately $4.6 million pending, Villasana said. Total Seawall expenditures were budgeted at about $16.6 million; about $11.4 million had been spent as of March, leaving roughly $5.1 million pending. Villasana said the anticipated fund balance on a budget basis is about $2.4 million, while the March 31 ending fund balance was about $2.9 million.
Marcus summarized the Seawall capital program and the transition of Type A authorizations. He said about $46 million of Seawall projects are ongoing and that staff will provide additional updates in coming months. A board member asked for project-status…
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