Diversion Authority adopts $1.02 billion cash budget for 2026

The Metro Flood Diversion Authority on Dec. 18 adopted a 2026 cash budget of $1,016,893,807 after the Finance Committee presented the final draft and recommended approval.

Mayor Dardis, reporting for the Finance Committee, told the board the committee reviewed prior versions of the budget and the final number represents adjustments including an approximately $9,000,000 increase for lands and impacted properties mitigation and roughly $5,000,000 moved into a construction contingency. He said sales tax collections in the Authority’s forecast (lagged through Sept. 25) were running at $47,840,329 and the committee expects to meet a sales tax target of $66,750,000 in the forecast but will monitor future reports.

Mayor Dardis moved to approve the cash budget and Mayor Mahoney seconded. The motion was carried by roll call; all voting members recorded affirmative votes.

During discussion, a board member noted the pace of spending—roughly stated by the chair as several million dollars per day under the budget—and members reflected on the scale of work planned for 2026 as the project moves into its final major construction push. The board also heard staff emphasize that some funding legs in the broader cash plan (federal funding returns, Minnesota funding discussions, Bank of North Dakota 2% loan) are still maturing and that a subordinated sales tax bond may be used temporarily for cash‑flow support.

The budget adoption allows the Authority to proceed with planned 2026 cash flows tied to construction milestones and operations and maintenance transition work.