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Board approves FY 2025–26 budget totaling $1.37 million
Summary
The board approved a balanced FY 2025–26 budget with total revenue projected at $1,372,950, including $1,352,950 in sales tax and $20,000 in operating interest; administrative COLA of 4% was included.
The board unanimously approved the proposed FY 2025–26 budget, which projects total revenues of $1,372,950 and balances expenditures to that amount.
Darla, the executive director, presented the budget and said revenue assumptions include $1,352,950 in sales tax receipts and $20,000 in bank interest from certificates of deposit, yielding total revenue of $1,372,950. She also said the administrative salary line includes a 4% cost-of-living adjustment and associated benefit increases. "The total revenue, dollars 1,372,950," Darla said during the presentation.
The draft budget retains existing project allocations and includes a transfer for the bond payment tied to the Boerding Center, which the presenter noted will be paid off in roughly three years. Project-level spending such as facade grants, Sand Dollars grants, and artist/business incubator items remained at levels comparable to the prior year in the proposed document.
After a brief review of marketing and sponsorship line items and confirmation that promotional expenditures were within available funds, a board member moved to approve the budget. The motion was seconded and approved by voice vote. The presenter said she planned to submit the approved budget to city council at the next practical meeting, aiming for the earliest city agenda while retaining a July fallback if further changes were needed.
The transcript shows no roll-call tally of votes and did not record mover or seconder names.
