Consider approval of the proposed Fiscal Year 2027 Richland Hills Development Corporation Budget PUBLIC HEARING

Staff Report & Agenda Item Details

The proposed Fiscal Year 2027 Richland Hills Development Corporation (RHDC) Budget includes estimated revenues of $905,000 and estimated expenditures of $1,158,572. Compared with the FY 2026 Adopted Budget, revenues decrease by $317,585, or approximately 26.0%, and expenditures decrease by $226,341, or approximately 16.3%.<br><br data-pasted="true">The FY 2027 budget continues funding for the Corporation’s economic development and community investment programs and services, including:<br><ul data-spread="false"><li>Economic development personnel and administration</li><li>Sales tax analysis and reporting</li><li>Business networking, appreciation events, sponsorships, and business support</li><li>Economic development memberships, training, and conferences</li><li>Marketing and business retention initiatives</li><li>Rosebud Park improvements</li><li>Debt service</li><li>Support for community special events</li><li>A $150,000 transfer to the Link Fund as an eligible economic development expenditure</li></ul><br>Key Budget Highlights<br><ul data-spread="false"><li>Personnel costs total $209,273, including salaries, FICA, unemployment insurance, and TMRS.</li><li>$472,753 is allocated for Rosebud Park improvements, including engineering, construction, and restroom installation.</li><li>$232,600 is budgeted for principal and interest on the RHDC portion of the 2016 Combination Tax and Revenue Bonds.</li><li>$150,000 is transferred to the Link Fund. This expenditure was moved from the General Fund to RHDC.</li><li>$63,946 is transferred to the Special Events Fund for community events.</li><li>$30,000 supports sales tax analysis, memberships, business events and support, travel and training, and general marketing.</li><li>The proposed budget uses $253,572 of available RHDC fund balance.</li><li><br></li></ul><table><thead><tr><th>Category</th><th>FY 2026 Adopted</th><th>FY 2027 Proposed</th><th>$ Change</th><th>% Change</th></tr></thead><tbody><tr><td>Revenues</td><td>$1,222,585</td><td>$905,000</td><td>($317,585)</td><td>-26.0%</td></tr><tr><td>Expenditures</td><td>$1,384,913</td><td>$1,158,572</td><td>($226,341)</td><td>-16.3%</td></tr><tr><td><strong>Revenue over/(under) expenditures</strong></td><td><strong>($162,328)</strong></td><td><strong>($253,572)</strong></td><td><strong>($91,244)</strong></td><td><strong>—</strong></td></tr></tbody></table><br><br>

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 2.3/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).