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Highland Village CDC adopts FDCIP updates and FY2027 budget
Summary
The Highland Village Community Development Corporation board voted to adopt annual updates to its Facilities Development Capital Improvement Program (FDCIP) and the proposed FY2027 budget after a presentation of projected revenues and fund balances; no public comments were offered during the hearing.
The Highland Village Community Development Corporation board on July 28 adopted updates to its Facilities Development Capital Improvement Program and the proposed fiscal year 2027 budget after a staff presentation and a public hearing that drew no speakers.
Heather presented the budget figures and told the board, “we are expecting to have a net increase in fund balance of $648,000 ending our fund balance at, dollars 3,114,000.” She outlined the FY2027 base budget projecting $2,045,000 in revenues, $586,000 in expenditures and transfers to debt service tied to four projects, which she said would produce a net increase of $896,000 and an ending fund balance of $4,011,000. Heather also noted that including previously discussed supplemental requests would change the supplemental-adjusted net increase to $58,000 and an ending balance of $3,172,000.
Board members asked for clarification on the current bond debt and revenue assumptions; Heather said the outstanding bond balance was around $4,000,000 and that sales taxes are the primary revenue source. She described the sales tax growth assumptions as modest — roughly 1% for next year and 1.5% the following year — and noted monthly sales-tax statistics are available and can be updated for the board during the fiscal year.
During the discussion Heather reviewed the principal projects identified in the FDCIP, including the Village connection/FM 407 corridor trail and amenity station, city trail landscaping at the FM 2499 tunnel, and priority trails such as Briar Hill Road and district connections. She also noted minor textual edits requested by Councilman Verrenza and corrected a typographical error in the draft ("shoreline trial" should read "shoreline trail").
A board member moved to adopt the FDCIP updates and proposed FY2027 budget as presented; the motion was seconded and the chair called for the vote. Members replied "Aye" with no opposition recorded and the motion carried. The board indicated staff will continue to provide updated revenue figures to inform adjustments during the fiscal year.
