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TEDC presents fiscal-year outlook: sales-tax projection $3.5M, assets reported at $7.2M
Summary
Terrell — The Terrell Economic Development Corporation reported projected sales-tax revenue of roughly $3.5 million, about $60,000 in investment interest and $7.2 million in invested assets as of Sept. 8.
Terrell — Carlton Tidwell, president of the Terrell Economic Development Corporation, briefed the council on the EDC’s high-level fiscal outlook for fiscal year 2025–26 during the Sept. 30 meeting, reporting projected revenues, current assets and pending project commitments.
Tidwell said the EDC projects sales-tax income of about $3.5 million for the upcoming fiscal year, plus roughly $60,000 in interest income from short-term investments. He noted railroad-related income of about $200,000 tied to users in the Macron Business Park. Tidwell said the EDC’s cash and invested assets totaled about $7.2 million as of Sept. 8, held across certificates of deposit and TexPool accounts.
Planned expenditures and pending commitments Tidwell said projected operating expenses run about $1.5 million and that pending incentive and infrastructure commitments total about $4,175,000, of which $4 million would be the EDC’s contribution if a TIFIA grant is received for a road over U.S. 80 and the railroad. He said the cash-flow presentation assumed a hypothetical scenario in which commitments became due all at once; even in that case the EDC would project a positive cash flow of about $1.4 million.
Programs and community support Tidwell noted the EDC supports local workforce programs including career and technical education at Terrell High School and Trinity Valley Community College and literacy and employment supports such as the WINGS program at the public library.
What happens next The presentation was informational; council took no formal vote on the EDC budget in this meeting. Tidwell said the EDC board includes two nonvoting ex officio members — a park board representative and a financial adviser used for fiscal analysis.
