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River Creek Development Corporation adopts FY2026–27 budget projecting about $2.6 million in revenues
Summary
The River Creek Development Corporation approved its FY2026–27 budget after a presentation from the city finance office; the budget projects roughly $2.6 million in revenue and an ending fund balance just over $4 million. The vote passed 3–0.
The River Creek Development Corporation on July 16 adopted a proposed budget for fiscal year 2026–27 after a presentation from Christina Bishop, assistant finance director for the city. Bishop told the board the corporation's main revenue sources are assessments from three pits and interest income, and that “the projected, income for revenues for fiscal year 20 26 are about 2,600,000,” as shown in the materials distributed to members.
Bishop outlined primary expenditures including debt service for three public improvement districts (PIDs), interest payments, attorney services, administrative expenses and trustee fees. She summarized the net-change projections: “So your net change in fund balance for this year is expected to be $115,693,” and said next year’s projected change is about $115,000, with an ending fund balance “projected to be just over $4,000,000.” The board moved to accept the budget as presented and the presiding officer recorded the vote with the chair announcing the motion passed 3–0.
