Title:
Discussion and presentation regarding PCDC FY25 Draft Budget and Financial Policies.
Summary
Annually, the PCDC Board meets to review a draft budget and the PCDC financial policies in a worksession. On April 24th, the PCDC staff met with President Jeff Thompson and the Board Member Darelle White to review the PCDC FY25 Draft Budget and Financial Policies. The draft budget reflects the considerations from City Council to include 1) Retail Infrastructure 2) Recruitment and retention and 3) Land Purchases. In addition, it reflects changes in incentive and other obligations for FY25.
Additionally, Financial Policies will be reviewed for changes, adoption and dissolution for the following : Fund Balance and Budget Policy, Purchasing Policy, Investment Policy and 2007 Accounting Policy.
Following the worksession, staff will review the budget with the City staff later this month, review the budget with City Council on June 11, and bring the final budget to the board for adoption in July or August prior to sending the budget to City Council for final approval in September.
Prior Action
Budget is presented annually to the PCDC Board and the City Council for approval. The discussion on financial policy changes reflects the resolution by the PCDC board adopting revisions to PCDC bylaws and the Certificates of Formation on March 27.
Supporting Documents
Fund Balance and Budget Policy Redline
Fund Balance and Budget Policy Clean
PCDC Purchasing Policy
PCDC Investment Policy
Accounting Policy
FY25 Budget Summary
FY25 Budget Detail
Incentives and Obligations Report
Drafter
Amy Madison, Executive Director