Montgomery County EDA adopts fiscal 2027 budget with $1.98 million cash balance; maintenance costs and reserves noted

The Montgomery County Economic Development Authority adopted its fiscal year 2027 budget after a staff presentation outlining revenue sources, anticipated expenses and reserves.

EDA staff said the authority's funding is drawn from the county's economic development department budget through transfers for operations. Staff estimated roughly $140,000 in revenue for the year (including an estimated $51,000 in CD revenue, down from about $56,000 the prior year) and reported an existing cash balance of $1,979,000.

On the expense side, staff cited a likely $24,000 increase tied to Falling Branch maintenance (including mowing and road upkeep), a $10,000 audit fee the county performs on the EDA's behalf, conference and sponsorship expenses (about $140,000) and requirements tied to a letter of credit related to a prior road grant. Staff described an economic development reserve earmarked for a possible natural-gas upgrade but said it is a contingency tied to future property acquisitions and not currently expected to be spent unless projects proceed.

A motion to approve the fiscal 2027 budget was made and seconded; the board approved the budget by voice vote.

The board did not record a roll-call tally in the meeting transcript; staff will implement the budget as presented and manage transfers and reserve usage according to the authority's policies.

The budget adoption concludes the authority's annual organizational business for the coming fiscal year.