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City staff outlines $13.2M preliminary FY2027 forecast for Type B fund
Summary
Erica Solis, Cedar Park director of finance, presented a preliminary FY2027 Community Development Type B forecast estimating $13.2 million in revenues (about $13.1M from sales tax), $7.3M in preliminary expenses, and a projected $5.8M increase in the fund balance; staff recommended a $3.25M reserve.
Erica Solis, Cedar Park’s director of finance, presented the preliminary FY2027 forecast for the Community Development Project Fund and said, “we are estimating revenues of $13,200,000 for 2027.”
Solis explained the local sales-tax structure that supports the fund: retail purchases within Cedar Park carry an 8.25% sales tax, of which 0.5¢ on each dollar is allocated to the Type B community development corporation. She told the board staff currently models 2027 sales-tax base growth at 2% over projected 2026 actuals and is conservatively accounting for new revenue from the Cedar View development coming online in 2027.
On the expense side, Solis said preliminary 2027 expenditures total $7,300,000, with the largest share allocated to community and mobility enhancements and roughly 15% to debt service. She noted $2,000,000 in one-time project savings were returned to the fund in 2024 and cautioned that those are not recurring dollars. Solis recommended a reserve requirement of $3,250,000, described as about two months of sales-tax collections plus one year of debt service, consistent with city financial policy.
Solis closed by outlining the schedule: staff will return July 14 with the proposed budget for board approval, then include board-approved Type B budget in city presentations to council in August and September for final adoption planned the week of September 10.
