Highland Village CDC adopts Facilities Development CIP update and FY2027 budget

The Highland Village Community Development Corporation on July 28 adopted the annual updates to the Facilities Development Capital Improvement Program (FDCIP) and the proposed fiscal year 2027 budget, approving the revenue and fund-balance projections presented by staff.

Heather, a staff member who presented the budget, said the projection for 2026 shows "a net increase in fund balance of 648,000 ending our fund balance at, 3,114,000." For the FY2027 base budget she summarized expected revenues of $2,045,000, expenditures of $586,000 and transfers to the debt service fund that together produce "a net increase of 896,000 and ending our a fund balance of $4,011,000." Heather also noted that with the previously discussed supplemental requests included the net increase would be $58,000 with an ending fund balance of $3,172,000.

Board members asked staff to confirm current bond debt levels; Heather estimated the outstanding balance at "around 4,000,000" and said she would double-check. The presentation also noted that sales tax is the largest revenue source for the fund and that sales-tax figures are reported monthly, two months in arrears (July numbers include sales tax through May). The staff briefing listed several priority projects in the FDCIP, including the Village Connection FM 407 corridor, an amenity station and city trail landscaping at the FM 2499 tunnel, and priority trails on Briar Hill Road.

A board member moved to adopt the FDCIP updates and the FY2027 budget as presented; Heather seconded. The Chair called for a voice vote and announced the motion carried.