CID board adopts 2026 budget after financial report shows large unreserved balance

The CID board voted to adopt a resolution approving the 2026 budget and contingent appropriations after reviewing year-to-date financial results.

Allison, a staff member who presented the CID financial report, said the district had collected $4,396,446 in revenue year-to-date, representing 78.2% of budgeted revenues, and recorded $1,210,499 in expenditures (69.7% of budget). She reported an unreserved fund balance of $50,573,976 as of Aug. 31 and said sales-tax receipts were up 3.7% in August with a projected 2.8% increase for September.

"From year-to-date, we've collected $4,396,446 in revenue, which accounts for 78.2% of budgeted revenues for the year," Allison said, later adding the unreserved fund balance figure and the month-over-month sales-tax changes.

Board members discussed timing and processing of the revised budget package. Paul, who conducted the roll call, said staff would work with the absent member to obtain required signatures and submit the signed budget to the city for processing. "We'll work with Chuck... appreciate Lisonbee revising this, and we'll keep marching forward," Paul said about next steps on the revised document.

A motion to approve the resolution was made and seconded; the board adopted the budget resolution. A no vote was recorded during the roll call, but the motion carried (members did not record further amendments on the record).

The board did not set an earlier effective date in the discussion; staff indicated they will obtain signatures and submit the signed package to the city for final processing. The board moved on to updates on the cooperative agreement and project-level details.

The meeting adjourned following brief closing business.