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Levelland EDC presents $1.24 million budget proposal, projects $241,300 shortfall for 2024–25
Summary
The Levelland Economic Development Corporation reviewed a proposed $1,241,800 budget for fiscal year 2024–25 that relies on $816,000 in projected sales-tax revenue and shows a planned $241,300 deficit to support workforce and development programs; no formal adoption was recorded.
The Levelland Economic Development Corporation discussed a proposed $1,241,800 budget for fiscal year 2024–25 and a projected deficit of $241,300 during its meeting. Speaker 6, who presented the budget, said, "Starting off with our revenues, we're allocating $816,000 in sales tax revenue."
Speaker 6 told directors the sales-tax figure is conservative compared with a recent outlier year and represents roughly $68,000 per month in receipts. He outlined other revenue lines including rail access and a maintenance fee, investment income and sponsorships, and noted interest earned of about $106,000 to date with $90,000 proposed to be counted in next year’s budget.
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