Board reviews proposed $12.7M budget for 2026 with major community projects

The Cedar Park Community Development Corporation (Type B Board) convened on July 8, 2025, to discuss the proposed budget for the upcoming fiscal year 2026, which is projected to generate revenues of $12.7 million. The board presented a conservative estimate, anticipating that interest income may fluctuate but remains a significant part of the revenue stream.

The proposed expenses for 2026 are set at $12.3 million, with the largest allocations directed towards community and mobility enhancements, transformational projects, and debt service. Notably, the budget includes a new $150,000 allocation for a space needs analysis, reflecting the board's commitment to addressing community infrastructure needs.

Among the key projects highlighted, a $5 million request for the design of the arts collective project stands out, alongside a total of $5.65 million earmarked for various community and mobility enhancement initiatives. The board also confirmed $1.1 million in debt service and $607,000 for board and staff support.

The budget proposal indicates a positive financial outlook, with an expected increase in the fund balance by $341,000, bringing the total to approximately $4.7 million by the end of 2026. This growth is attributed to the difference between projected revenues and expenses, which the board aims to maintain steadily.

During the meeting, board members raised questions regarding the debt service timeline for the Perfect Game project, which is set to conclude in 2041. Discussions also touched on the existence of an emergency fund, with assurances that the current reserve is sufficient to meet unexpected needs, although the board acknowledged the importance of having contingency plans in place.

Looking ahead, city staff will incorporate the Type B budget into broader budget presentations for the city council, with final adoption scheduled for September 11, 2025. This meeting marks a crucial step in shaping Cedar Park's financial strategy and community development initiatives for the coming year, reflecting the board's ongoing commitment to enhancing the quality of life for residents.