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Trophy Club EDC reviews draft FY2025-26 budget, directs staff to adjust grant and incentive lines
Summary
The EDC reviewed a draft FY2025-26 budget proposing $776,250 in revenues and $741,763 in expenditures, discussed revenue assumptions, grant funding levels for the Thrive program, an incentive fund, and available fund balance; the board directed staff to revise Thrive to $150,000 and to bring the final budget back for approval in June.
The Economic Development Corporation reviewed its draft fiscal year 2025-26 budget and directed staff to update the draft to reflect a $150,000 allocation for the Thrive Business Grant and to retain $150,000 for incentive programs, with a final budget to be presented for approval in June.
EDC staff explained the revenue estimate and proposed expenditures: total revenues were shown as $776,250 and proposed expenditures as $741,763, reflecting a roughly 13% increase from the current year. Staff said the revenue projection…
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