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Board approves proposed 2025–26 annual budget with $1.37 million in revenues
Summary
Officials approved a proposed 2025–26 budget that balances $1,372,950 in revenue against the same level of expenses, including a 4% COLA in administrative wages and a $200,000 project reserve for the marina effort.
Meeting participants approved the proposed 2025–26 annual budget, which balances total revenues and expenses at $1,372,950.
Darla, who presented the budget, told the meeting projected sales-tax receipts are $1,352,950 and operating bank interest was budgeted at $20,000, bringing total revenues to $1,372,950. She said the sales-tax estimate was about $7,000 lower than the prior year and that she included a 4% cost-of-living adjustment for administrative salaries. Darla described ongoing expense items and noted the transfer to debt is a bond payment for the Boerding (sic) Center that will be paid off in about three years.
On the projects side, Darla said the budget keeps prior project funding levels and includes amounts for the Sand Dollars facade grants, the art-business incubator and related promotions. She also said the budget included a $200,000 allocation this year toward a marina reserve to cover a county portion of past commitments.
A board member moved to approve the budget as written; another board member seconded. The chair called for the ayes, and the motion carried by voice vote.
Darla said she planned to take the approved budget to the city council in early July and that the board could schedule a June meeting only if necessary. She also noted some line items and reserve accounts (roof/maintenance, marketing, and facility reserves) and discussed trimming or reallocating project amounts as needed going forward.
