Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Hutto EDC reports fund balance of $15.65M after Mega site land sale; board approves April report 5-0
Summary
Assistant finance director Christina Bishop reported revenues exceed expenses by just over $7 million and a fund balance of $15,648,893 after a land sale at the Mega site; the board unanimously approved the April 2026 financial report.
Christina Bishop, assistant finance director for the City, presented the Hutto EDC monthly financial report for April 2026 and answered board questions.
Bishop reported the Corporation is seven months through the fiscal year and that revenues exceed expenses by just over $7,000,000, putting the fund balance at $15,648,893. She noted the most significant financial event of the month was the sale of land at the Mega site for just under $6,900,000; $683,614 of that sale was used to pay down a loan at Alliance Bank and roughly $31,000 covered closing costs, with the remainder deposited to the Corporation's accounts.
Bishop also said sales tax receipts for the seven months trailed budget by about 5% year-to-date, though May receipts reduced the deficit to approximately 3% under budget. After questions and clarification from board members, Board member Porterfield moved and Board member Morris seconded approval of the monthly financial report; the Chair called the vote and the motion passed 5-0.
