The Buda Economic Development Corporation budget for the 2022-23 fiscal year was approved Aug. 2. President Jennifer Storm presented changes to the budget from the 2021-22 fiscal year.
The BDCE is tasked with creating diverse business development and expansion A primary focus for BDCE is new developments and existing business expansion. BDEC also focuses on infrastructure and city development.
Storm highlighted some of the important changes of the budget. The capital improvements budget was increased from $500,000 to $700,000. Storm said the increase was made to ensure there would be additional funds if needed.
The budget for an economic development specialist was increased from $70,040 to $80,250. Storm said the position is vacant, and the EDC is currently seeking to fill the position, which is greatly needed for performance agreements and budget documents.
According to Storm, the city has a $500,000 surplus, which includes reserves in its taxable account, which is close to $9 million.
The budget passed 7-0.