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Heath boards review proposed FY2026 budgets; members seek cuts to promotional and grant line items
Summary
At a June 17 joint meeting, Heath board members reviewed proposed FY2026 budgets for the EDC/HEDC/HMBC, discussed cutting promotional and grant line items to preserve flexibility for land acquisition, and agreed to revise the budget model and return with a resolution at the next meeting.
Heath board members spent the bulk of the June 17 meeting reviewing proposed FY2026 budgets for the Heath Economic Development Corporation (HEDC), Heath Municipal Benefits Corporation (HMBC) and related EDC accounts, and asked staff to revise the model and circulate a proposed resolution before a final vote.
Jay, the staff presenter, told the board that total HEDC revenue through May 2025 stood at $586,553 and that the adopted FY25 budget totaled $865,983. Jay said the FY26 proposal assumes a 2.5–3% increase in sales tax revenue but projects a significant drop in interest earnings because the fund balance is lower after this year's transactions.
Several board members pushed for immediate line-item reductions to increase flexibility. One member proposed “eliminat[ing] the promotional line item, eliminate the economic development grants,” and remove transfers to the general fund and the Parks Capital Improvement Fund so that the EDC could reallocate dollars quickly for strategic land acquisitions.
Other members raised concerns about moving earmarked park contributions without coordinating with the parks board and city council. Jay noted that council approval would be required for any final changes to interlocal agreements or transfers.
The board did not adopt a budget resolution at the meeting. Instead, members directed staff to incorporate the suggested adjustments into the financial model, circulate a revised resolution for review, and return the item for formal action at the next meeting. Board chair said he preferred seeing the revisions in the model before a vote.
What’s next: staff will update the budget model to reflect the suggested reductions and corrections to principal/interest line items and will circulate a proposed resolution for board review prior to the next meeting.
