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LEDC presents FY 2025–26 budget showing $1.27M deficit driven by SPC commitment
Summary
The Levelland Economic Development Corporation projected $1,159,499 in revenue and $2,427,310 in expenditures for FY 2025–26; a $1,500,000 commitment to the SPC Truck Driving School drives a presented deficit of $1,267,811.
The Levelland Economic Development Corporation (LEDC) presented its FY 2025–26 budget showing projected revenues of $1,159,499, including $968,999 from sales tax (a 3.0518% increase), and projected expenditures of $2,427,310. The board’s $1,500,000 commitment to the SPC Truck Driving School is the principal driver of the presented deficit of ($1,267,811).
LEDC described itself "as a non-profit governmental entity" tasked with creating jobs and reinvesting in the community; the presentation noted that excluding the SPC commitment the LEDC would project a $232,189 surplus. No council action was taken on the LEDC budget at the Aug. 18 meeting.
