BCDC reviews FY2026–27 budget; staff project higher fund balance and increased salary line

Director Haidt and Karen, the BCDC finance director, presented the board's first review of the proposed FY2026–27 budget and invited board feedback before a final August submission.

Karen told the board they ended FY25 with a fund balance of $11,472,542 and that staff currently project ending FY26 with a fund balance of $13,361,614. She said sales tax was the primary revenue source: the FY26 budget had assumed $2,600,000 and FY25 actual sales tax receipts were about $2,880,000; based on recent data staff recommended increasing sales-tax expectations by roughly 6% for FY27.

Thomas (staff) and Haidt addressed contract and personnel cost questions. Staff confirmed a contract-related payment to the city is budgeted at $539,998 (greater than a previously cited $277,000 figure), and Karen reported salaries plus benefits proposed for the BCDC in FY27 total $726,269. Haidt walked through proposed line items including $33,000 for Primitive Park maintenance (held pending future decisions), advertising and promotions (up to 10% per EDC code), subscription services (Place AI $18,900; Market Bee Cave website/domain $7,650), and a $2,000,000 earmark tied to a Kent's Porch agreement related to the backyard project.

Board members asked for a follow-up on Primitive Park and were informed that more discussion would occur in executive session. No action on the budget was requested at this meeting; staff will return with a revised draft in August for formal adoption by resolution and referral to city council.