Live Oak EDC approves transfer to fund parks projects after budget workshop

The Live Oak Economic Development Corporation on July 22 reviewed its 2025–26 budget, discussed major line items and funding priorities — including a $600,000 water-rights allocation and continued support for the hometown news publication — and approved a transfer from the EDC fund to the city’s capital projects fund to support parks projects identified in the city’s 2024 parks master plan.

EDC staff member Donna explained the budget overview, saying the EDC’s budget “stayed very conservative this year while still providing the long term investments that we make with our city.” She described several recurring and planned expenditures, including a $5,000 increase for postage and production of the hometown news, a continued $100,000 allocation for VIP (parking and lighting improvements among the priorities) and a $600,000 line item for purchasing water rights as leases become available.

Leroy, city staff, framed the budget-setting approach and revenue assumptions: “A budget is predominantly a book of assumptions,” he said, noting sales-tax receipts were expected to grow modestly and that he used conservative assumptions to avoid overestimating revenues. He also described a drop in the EDC’s required debt-service transfer (from an older bond)…