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Veneta Urban Renewal Agency hears FY2026 Q2 financial update; revenues at 16% and interest earnings exceed expectations
Summary
Accountant Jordan Myers told the Veneta Urban Renewal Agency that agencywide revenues are at 16% of the FY2026 budget and interest earnings are tracking at 184% of expectations; expenditures remain low because planned projects have not started and no loan proceeds were received.
Accountant Jordan Myers reported to the Veneta Urban Renewal Agency on Feb. 9 that agencywide revenues had reached 16% of the FY2026 budget to date and that interest earnings were performing above expectations at 184% due to current interest rates. Myers said there were no new loan proceeds to increase revenue totals and that overall expenditures remained minimal because budgeted projects had not yet been initiated for the fiscal year.
The update was presented as part of the City Administrator's quarterly financial report and prompted no recorded questions or motions. The board received the report; no follow-up action or directive was recorded before Chair Robbie McCoy adjourned the meeting at 8:29 p.m.
