DDA staff presented a draft FY2026 budget at the May 28 meeting that includes a proposed $1,500 miscellaneous discretionary fund for the director and a new approach to allocate specific budgets to DDA committees, staff said.

The director described the miscellaneous fund as intended for small, discretionary expenditures (thank-you cards, minor hospitality, small incidentals) governed by an upcoming purchasing policy. She said the committee-specific allocations are based on historical usage and planned projects so committees can plan events and recruit volunteers with clearer funding expectations. The board discussed and asked for the DDA purchasing policy to be available before final budget approval; members agreed to defer final adoption until the policy is complete.

Staff also reviewed the amortization schedule for a $350,000 loan from the city to support renovations at the DDA-owned building for the children's museum. The director said the loan carries a 1% interest rate and that $50,000 of the total was designated for exterior improvements and will be repaid on an accelerated five-year schedule ($10,000 per year). The remainder is being repaid on a longer, standard schedule; staff described a monthly payment that appears in accounting as approximately $1,800 per month tied to the loan repayment and revenue accounting quirks.

Board members did not vote to adopt the FY2026 budget at the meeting; staff said they will present the purchasing policy and a final budget for approval next month.