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Mansfield EDC recommends $14.9 million FY26 budget to city council after review of revenues and projects
Summary
EDC staff presented a preliminary FY2026 budget showing $14.9 million in revenues and a projected $11.275 million in key sales‑tax revenues; the board approved forwarding the balanced budget recommendation to city council by a unanimous voice vote.
EDC staff presented the proposed fiscal year 2026 budget and the board voted unanimously to forward the recommendation to the Mansfield City Council.
Jason, an EDC staff member, told the board the draft budget includes projected revenues of about $11,275,000 from sales‑tax forecasts and total EDC revenues shown as $14,900,000. He said bond proceeds for stadium construction are on deposit and that interest earnings are unusually high this year. "So right now, 11,275,000 is what's projected," Jason said as he reviewed revenue forecasting methods and the revenue picture for FY26.
The presentation laid out key expenditure buckets: roughly $10.8 million committed for economic‑development projects and grant payments in the coming year, $1.67 million in annual bond payments (split across two payments) and about $2.2 million covering debt service and shared services transfers to the general fund. Jason said the plan uses approximately $1.9 million in cash reserves to balance the budget. "This is revenues, 14,900,000.0, and then this is expenditure. So those numbers match," he said.
Board members pressed staff on several details. One member asked about a new $63,000 business‑retention line; Jason said that sum is intended for marketing and contract services (workshops, outreach and supporting existing businesses) rather than capital projects. "Natalie might be going out and meeting with existing businesses and is gonna host some type of event or workshop — that's where that $63,000 is available to do those types of things," he said.
Another member asked where alternative funding sources — for example, county TIRs — appear in the accounting. Jason said those sources are recorded in the citywide operating and CIP budgets, not in the EDC’s direct accounts, but they factor into project‑level financing captured in a sources‑and‑uses spreadsheet maintained for each development.
After the Q&A the Chair asked for a motion to approve the board’s recommendation on the FY26 budget. A board member moved, another seconded, and the board approved the item by voice vote with no opposition.
The board’s approval sends the budget recommendation to city council for its public‑hearing and approval process. Staff said revenues and some project timelines may be updated before council consideration as sales‑tax collections and project schedules change.
