Anna CDC and EDC approve budget amendments to record land acquisitions

The Anna Community Development Corporation and Economic Development Corporation on March 5 approved separate resolutions to record prior land-acquisition expenditures in their fiscal-year 2025'26 budgets.

Roach, who presented the budget items for the boards, said the CDC originally budgeted $525,000 for land acquisition but acquired property that exceeded that amount. "The 4,980,437 amount was actually paid out of our fund balance," Roach said, and the amendment will reclassify the expense in the budget "for auditing purposes and tracking." She said the budget will not increase by the $4.9 million because $525,000 had already been allocated; the amendment shows the additional amount as a carryforward.

On the EDC side, Roach said there had been no line-item budgeted for land acquisition and that the board used fund-balance resources to buy the property. The board considered a resolution to carry forward $2,053,129 in unexpended land-acquisition funds to reflect that expenditure. A later line in the transcript contains a markedly different numeral that appears to be a transcription error; the board discussion and the agenda materials refer to $2,053,129 as the EDC carryforward.

Both resolutions were moved and approved by voice vote. The meeting record shows the board asked Roach clarifying questions and accepted her explanation that these changes are bookkeeping adjustments to reflect purchases paid from fund balance rather than new appropriations.

Votes at a glance

- Consent items 4A and 4B (approval of February 2026 joint CDC/EDC minutes): motion to approve made by a board member and seconded; passed by voice vote.

- Resolution 2026-03-4 (CDC): amend FY2025'26 budget to carry forward $4,980,437 in unexpended land-acquisition funds. Presented by Roach; motion made and seconded; approved by voice vote.

- Resolution 2026-03-5 (EDC): amend FY2025'26 budget to carry forward $2,053,129 in unexpended land-acquisition funds. Presented by Roach; motion made and seconded; approved by voice vote.

What the board said and did

Roach described the amendments as internal bookkeeping changes to reflect expenditures already paid from fund balance. "For auditing purposes and tracking of that expense, it will now show as an item in the budget to be amended," she said. Board members voiced support and moved the measures to a vote.

Next steps

The minutes record the approval of the two resolutions. The board then moved into a closed session to consult with counsel and discuss real property, personnel and economic-development negotiations before returning to open session and adjourning at 7:28 PM.