EDA reviews 2026 preliminary budget and levy timeline; staff urges review ahead of September council action
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Summary
EDA staff presented a preliminary 2026 budget and maximum levy timeline; commissioners were asked to review materials and forward questions ahead of the council—s preliminary budget approval deadline in September.
Staff members presented a draft preliminary 2026 EDA budget and described key dates and assumptions for the tax levy to the Moorhead Economic Development Authority.
A staff member said the city council will approve a preliminary budget and tax levy by Sept. 22 and the council will adopt a final budget in December. "By September 22, the city council will be approving a preliminary budget and tax levy," the presenter said.
Staff highlighted one notable budget item: interest earnings. The packet reflected an anticipated $20,000 in interest earnings for 2026 compared with approximately $62,000 in actual interest earnings the prior year; staff said final figures from finance were pending and that higher interest receipts the previous year had provided additional flexibility.
Commissioners asked for detail on a drop in professional services line items; staff explained that $25,000 in 2025 had been set aside for digitizing historical records and that work is expected to be complete, which explained the reduction. City Manager Molly (first name in the record) and other staff encouraged commissioners to submit questions by email in advance of the September report-back.
No levy or budget vote was taken at the EDA meeting; the presentation was intended to give commissioners time to review before formal council deadlines.