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Pflugerville ISD trustees acting as PFC approve 2025–26 budget after annual finance briefing
Summary
The Pflugerville ISD Board of Trustees, acting as the district’s Public Facility Corporation, approved the PFC’s proposed budget for the fiscal year ending June 30, 2026, following a presentation outlining bond repayment, a $300,000 project account and a small $5,000 projected surplus; vote was 7–0.
The Pflugerville ISD Board of Trustees, meeting as the district’s Public Facility Corporation (PFC), voted 7–0 to approve the PFC’s proposed budget for the fiscal year ending June 30, 2026, following an annual finance presentation.
Ms. Land, who presented the PFC report, opened by stressing that “the PFC is a separate entity” and that “the books are not commingled, and it is separate.” She described the PFC as a nonprofit sponsored by the district that can finance, acquire and manage assets and issue bonds but “does not have the authority to raise taxes,” distinguishing it from the school district.
The presentation said the PFC was formed on 03/12/2021, issued bonds on 04/21/2021 and purchased the property (the former Calvary church) on 05/19/2021 to serve as an auxiliary administrative site, including housing the district data center and technology staff. Ms. Land said the leaseback arrangement requires annual payments on an August/February schedule and that the 2025–26 lease payment totals $826,200; she added the lease term is 20 years and the PFC is four years into repayment with an interest cost of about 2.5%.
Ms. Land said the PFC maintains a project account of roughly $300,000 earmarked for repair and maintenance and that the previous tenant vacated in May 2024, so no rental income is budgeted for 2025–26. She described the financial statements shown as unaudited and preliminary because the district audit is in progress and said the fund balance is approximately $379,000, made up primarily of the project account.
Trustee Yanez asked whether the existing PFC is limited to the original Calvary-church project or could be used for additional projects. Ms. Land said bond counsel advised there are parameters in the articles of incorporation and bylaws to follow; while a very similar project could possibly be handled by the same PFC, doing so is not best practice.
After the presentation, Trustee Mitchell moved that the board, acting as PFC directors, approve the corporation’s budget for the fiscal year ending 06/30/2026; Trustee Torres seconded. The board voted and the motion carried 7–0.
The meeting concluded with an adjournment motion and the time recorded in the transcript as 5:44 p.m. The transcript does not specify the calendar date of the meeting.
