Stafford EDC reports $21.49 million fund balance; outlines investments, recent payments and a large irrigation leak

At a July 22 meeting, Stafford Economic Development Corporation staff presented the board with a financial update showing a combined fund balance of $21,489,825 as of May 31, 2025.

Finance staff member Michelle said, “The combined fund balance is $21,489,825, which is up by 2,500,000.0 as compared to last year at this time.” She told the board the authority’s cash and investments totaled about $20.6 million and summarized the portfolio allocation and yields.

Why it matters: the report shows the EDC is carrying a multi‑million dollar fund balance and a diversified short‑term portfolio while continuing to make operating transfers and pay for several capital and service contracts.

Staff presented the EDC’s investment mix and yields. According to Michelle, the board’s portfolio includes government pools (21% in a pool referred to as “Logic” and a newly added government pool referred to as “Texas Class,” which also holds 21% of the portfolio), about 15% in brokered certificates of deposit, 22% in…