Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Board approves FY2025–26 balanced budget with 4% staff COLA and $200,000 marina reserve contribution
Summary
The board approved a $1,372,950 balanced FY2025–26 budget that includes an estimated $1,352,950 in sales tax revenue, $20,000 in interest income, a 4% cost-of-living adjustment for staff and a $200,000 reserve line for future marina-related obligations.
The South Padre Island board approved the proposed FY2025–26 budget after a motion and second; the board carried the item on a voice vote.
Darla, the executive director, presented the budget and said staff used projected sales tax receipts of $1,352,950 and operating interest of $20,000 to arrive at total revenues of $1,372,950. She said the budget is balanced to that total and includes a 4% cost-of-living adjustment for staff compensation and associated benefit increases.
Darla told the board she had budgeted $200,000 as a transfer toward the marina reserve because of prior commitments and county cost-sharing expectations; the item will appear in the city council review process. She also described existing long-term debt service tied to the Birding/Boerding Center (bond payments) that will be retired in three years, which the budget reflects in future-year planning.
A board member moved to approve the budget as presented and another board member seconded; the motion passed on a voice vote. Darla said she planned to take the item to city council in early July unless the board requested an earlier date.
