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Balch Springs EDC (Type A) receives FY2025-26 budget update; city staff projects $3.39 million year-end balance
Summary
City finance staff told the Balch Springs Industrial and Economic Development Corporation (Type A) board that, after updating revenue recognition and accounting entries, the EDC projects an ending fund balance of about $3.39 million and highlighted a $1.2 million commitment for the Alexander Village development this fiscal year.
President David Ruffino opened the July 21, 2025, Balch Springs Industrial and Economic Development Corporation (Type A) meeting for a financial update as the city prepares the FY2025-26 budget.
Rebecca Osteen of the city finance department summarized the EDC’s fund 120 finances and projections, saying the beginning fund balance from the 2024 audit was $5,328,987 and that staff now projects total revenues of roughly $1,490,000 for the year. Osteen said interest income has exceeded prior estimates and was revised upward to $15,000. With expenditures projected to match the adopted budget, she said the projected ending fund balance is $3,394,429.
The update also covered debt and cash positions. Osteen reported a scheduled debt-service payment of about $233,000 for the fiscal year and stated the outstanding bond balance was listed at $1,868,750, with a current outstanding total of…
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