Angleton board reviews ABLC, rec-division finances and flags revenue shortfall

The Angleton Better Living Corporation on Oct. 14 reviewed year-to-date financial statements and fund balances for the ABLC and recreation divisions and heard staff warn of a near-term sales-tax-related revenue shortfall.

Presenter (S3) told the board that the corporation was “one payment short for the fiscal year” and that staff had reworked transfers to reduce pressure on ABLC’s general balance. Presenter said staff revised an expected transfer down to $500,000 from $685,000 — freeing about $185,000 — and that a previously anticipated revenue increase of 7% looked more likely to be just above 3% under current projections.

Presenter outlined per-fund detail: the Rec Division (fund 50) ended roughly $5,000 above projections, Rec Center (fund 60) beat revenue projections by about $30,000 and held the required reserve of $100,000, while ABLC’s beginning FY24–25 balance for the Rec Center was shown at about $619,000. Presenter said approximately $274,000 had been identified as dedicated for TPW grants and that, after transfers, roughly $443,000 would roll into ABLC, leaving the corporation with a projected fund balance of just over $800,000 after final closeout and outstanding payroll or invoice transactions are reconciled.

Board members asked about fund-balance policy and minimums; Presenter said ABLC aims to maintain about 25% in fund balance while the general fund target is higher. Several members cautioned that sales tax softness this year reduced budgetary flexibility and urged conservative use of contingency and transfers.

Presenter closed by noting outstanding items (late payroll and invoices) that could alter final numbers and committed to returning with finalized closeout figures at the next check-in.

The meeting record shows discussion only; no formal action or vote was taken on the fund-balance report at this meeting.