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RDA budget debate centers on grant timing and $2.5M in receivables
Summary
Mount Pleasant officials queried the Community Development & Renewal Agency's proposed 2025'26 baseline budget, flagging large differences between budgeted and realized revenue and noting $216,000 tied to a $288,000 park grant and about $2.5 million in accounts receivable.
Mayor led a public hearing on the Mount Pleasant Community Development & Renewal Agency's proposed 2025'26 budget, and council members pressed staff on the timing and certainty of revenue that managers had included as baseline income.
A staff member said $216,000 in the draft is tied to a park project from a $288,000 grant already awarded, and that the agency currently shows roughly $2,500,000 in accounts receivable. "The 216,000 you got coming now is for the park project of the $288,000 grant," staff said, noting contractor draw schedules and reimbursement timing could affect cash flow.
A council member contrasted budgeted expectations with recent actuals, citing an example in which the actual receipts were about $201,560 while the budget had shown $851,000 for that line item. "There's a huge difference of what their actual budget is and what they budgeted," the member said, urging staff to be conservative in baseline estimates.
Staff and the council discussed using a conservative baseline for FY2026 rather than projecting grant amounts that may not arrive. Staff signaled they would treat grant amounts conservatively in the baseline and update the budget if and when awards are realized.
The hearing closed with no public speakers. The agency expects to refine revenue timing and present amendments when project funding is confirmed.
