Cedar Park Type B reports Q1 actuals, previews capital spending funded by sales tax

At its March 10 meeting, the Cedar Park Community Development Type B Corporation received a quarter‑1 financial update from Bridal Solis of the finance department covering actuals through Dec. 31, 2025. Solis said the FY2026 revenue budget is $12,700,000 and the expense budget is $12,300,000, with sales tax as the primary revenue source.

Solis highlighted that Type B half‑cent sales tax collections totaled $3,400,000 through Dec. 31, 2025 (1.12% below the same period in 2024 due to a one‑time audit adjustment in Dec. 2024, but 5.12% above the year‑to‑date budget). “We did also grow 2026 sales tax by 2%, so we’re pretty conservative with that projection,” Solis said. She also presented a 10‑year chart showing the fund has collected approximately $140,700,000 since inception to fund community development projects.

On project spending, Solis told the board that the Type B fund had sent 100% of transformational and community project costs to CIP funds on the front end because projects occur at different times of the year; staff will return savings to the Type B fund as underruns are identified in quarterly capital updates. She noted that debt‑service actuals did not appear in Q1 because the first interest payment occurred in February and will show in the Q2 report.

Board members asked when underruns would be realized and how paybacks and TIR/TERS related amounts were reflected; Solis said staff reconciles savings and coordinates with project managers two to three times a year and that the report already reflects paybacks related to the NFM TERS project. The board had no further action on the report; staff will present the next update in Q2 when debt service appears on the expense report.