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Venue district accepts FY2025 audit showing a small net deficit
Summary
The board accepted an auditor's unqualified (clean) opinion for FY2025; the report shows approximately $1.84 million in hotel tax revenue, total fund revenues of about $1.847 million, expenses of about $1.857 million and a reported net deficit of roughly $10,008.
Marjorie Knight presented the fiscal year ending 09/30/2025 audit and told the board the city auditors issued an unqualified, or clean, opinion on the venue district's financial statements. "The city's auditors for this have provided an unqualified or clean opinion on the financial statements," Knight said.
Knight summarized the fund totals as presented: total assets of $430,000, liabilities of approximately $378,000 and net position of $5,276. For 2025 she reported hotel tax revenues of approximately $1,840,000, total fund revenues of about $1,847,000, and total expenses of about $1,857,000, producing a change in net position of negative $10,008. Knight attributed the deficit in part to remaining bond‑related payments tied to Frontier Texas improvements. The board moved to accept the audit and approved it by voice vote with no opposition.
