Title
Presentation regarding the Pflugerville Community Development Corporation (PCDC) FY25 Q1 Financial Report.
Summary
Per PCDC bylaws, each quarter the Executive Director or designee shall present a financial update for the current fiscal year to the City Council at a regularly scheduled City Council meeting.
Total actual revenue is 22% of the budget which includes sales tax revenue at 24% of the budget. The Waterpark lease is received in September of each year.
Total expenditures are at 8% with Capital Outlay, Debt Service and Economic Incentives comprising a large portion of this budget. The capital projects will go to bid early spring, the larger debt payments are made in August and most incentive payments are expended in the 4th quarter.
Prior Action
FY25 Q1 approved by the PCDC board on Jan. 22, 2025.
Supporting Documents
FY25 Q1 Financial Report
FY25 Balance Sheet as of Dec. 2024
Sales Tax Report as of Dec. 2024
Staff Recommendation
Presentation only