Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
MEDC reports $168M in assets, large bond increase for FY25; board approves grouped financials
Summary
Assistant finance director Chance Miller told the MEDC the EDC's total assets rose to about $168 million in FY25 (driven by land purchases) and bonds payable increased to roughly $77 million; the board approved consolidated financial reports for Sept., Nov. and Dec. 2025.
The McKinney EDC's balance sheet expanded in fiscal‑year 2025, driven primarily by land purchases and associated debt, the board heard Feb. 17. "Total assets last year ended at a a $112,000,000. You can see we're up to a $168,000,000 now," Chance Miller, assistant finance director, told the board when presenting final FY25 numbers.
Miller said bonds payable rose substantially year‑over‑year, from about $16,000,000 to near $77,000,000, reflecting recent bond issuances and debt taken on to support projects such as the airport. He also reviewed monthly collections and industry drivers, noting a year‑to‑date sales tax increase of roughly 4–4.5% and that December collections reflected land sale proceeds. After the presentation the board moved to approve grouped financial statements for September, November and December 2025; the motion passed.
