Finance director reports Type A fund ahead of budget but below last year’s pace

Erica Solis, director of finance for the Cedar Park economic development corporation, presented the Type A fund actuals through March 31, 2026 and said the fund is generally performing ahead of the adopted budget for the year. "Revenues are budgeted at $9,700,000 — sales tax, of course, represents the majority of that, sitting at 97%," Solis said.

Solis told the board that cumulative sales-tax collections allocated to Type A total $4,790,000 through the second quarter, about 2.67% over the adopted budget year to date while running roughly 1.95% below the same period a year earlier. She noted the staff closely monitors interest income but budgets conservatively because yields vary with market conditions. "We do lean on the conservative side when we're budgeting that number into the next fiscal year because we don't wanna rely too heavily on interest income given that this is based on market conditions," she said.

On the expense side, Solis said the budgeted $8,500,000 in expenditures is driven largely by debt-service payments for the H‑E‑B Center (approximately $3,200,000 per year through fiscal 2033), staff support allocations (about $816,000) and a $400,000 innovation grant included in the 2026 budget. She said incentive payments were 48% spent as of March 31 and other Type A expenses were 27% spent, noting that several transfers occur at the start of the fiscal year and can make the year-to-date percentage look higher.

Board members asked whether specific company payouts will occur in the current fiscal year; Solis and staff answered that some incentive agreements may not meet milestones until a following fiscal year and that timing differences are reported as they occur.