Durant Community Facilities Authority approves FY 2025–26 financial plan and splits reserve funds for stadium and field lighting

The Durant Community Facilities Authority on a special call approved a $3,984 fiscal-year 2025–26 financial plan and voted to divide $805,000 held in reserve into equal shares for two projects: $402,500 for City of Durant outdoor field lighting and $402,500 for Southeastern Oklahoma State University stadium work.

The authority heard its financial summary from Anshin, the authority's finance presenter, who reported the DCFA gross revenue checking account balance at $972,004.66. "The balance is $972,004.66," Anshin said while walking trustees through account and sales-tax timing issues. The authority then approved the small operating budget for the coming year by roll-call vote.

Why it matters: the allocations send cash now to two local capital projects that the authority has supported and move the DCFA closer to winding down operations once final accounting is complete. Southeastern's request supports immediate design and construction-management steps for a renovation of the university's stadium; City of Durant funds would pay for Musco Lighting fixtures to illuminate two primary fields.

Anshin told trustees the account contains the cash the authority can spend now but that a roughly $167,000 balance described on the books as a "loss on refinance" remains on the balance sheet and requires clarification. "That is a fee that is on our balance sheet ... it's not real cash," Anshin said, and said the authority's financing consultant would supply a written explanation and the final annual entries after the firm completes work on fiscal-year reports for 2023–24 and 2024–25.

City of Durant representative Ryan described a Musco Lighting quote of $530,000 to light three football-sized fields and said the city would prioritize two heavily used sections if matching grant funds or partner contributions fall short. "If I don't qualify or get the matching grant, the 400 and whatever is just gonna go to doing two main parts of the field," Ryan said. Trustees approved the City of Durant allocation by roll-call vote.

Southeastern Oklahoma State University President Newsom updated trustees on projects already funded in part by the DCFA, including video boards, new turf being installed, and perimeter fencing, and outlined a multi-phase stadium renovation. Newsom said a $3 million gift from First United Bank and other pledges have advanced the project; the DCFA allocation would be used immediately to hire architects and a construction manager at risk to develop construction documents and cost estimates. "Those screens were installed last summer and used for last year's football and basketball seasons and graduations," Newsom said of prior DCFA-funded improvements.

Discussion and next steps: trustees asked the finance presenter and the authority's financing consultant for a short, plain-language memo describing the $167,000 entry and how final annual adjustments could affect the fund balance. Trustees agreed to meet again after the consultant completes the year-end work; a tentative window for a final meeting was discussed for January 2026. No dissolution action was taken at this meeting.

Votes at a glance: the authority recorded three formal actions by roll call. The FY 2025–26 financial plan and $3,984 budget was approved (ayes: Trustee Baxter; Trustee Briscoe; Trustee Grover; Trustee Hoyt; Vice Chairman Pierce; Chairman Webb). The allocation of $402,500 to City of Durant for field lighting was approved (same aye roster). The allocation of $402,500 to Southeastern Oklahoma State University for the stadium project was approved (same aye roster).

The authority directed staff to obtain a written explanation from its financing consultant about the balance-sheet refinance entry and to schedule a final meeting once year-end accounting is complete.