RES to Adopt Fiscal Year 2027 DDA Budget

Title Resolution to Adopt the Fiscal Year 2027 DDA Budget Memorandum In March, the DDA Board put forward the proposed FY27 budget for City Council's consideration. City process calls for the development of multi-year budgets but only one fiscal year may be adopted at a time by State law. FY27 is the 2nd year of the two-year budget cycle. In May, City Council held public hearings and approved the City's comprehensive budget which included the DDA budget as a component unit. City Council's approval is required by Public Act 57 of 2018. The final step in the DDA's statutory process is the adoption of the budget by the DDA Board - the action being considered today. Body Whereas, PA 57 of 2018 requires that the Director of the Authority prepare and submit for the approval of the DDA Board a budget for the operation of the Authority for the ensuing fiscal year; Whereas, Statute also requires that the budget be prepared in the manner and contain the information required of municipal departments; Whereas, The DDA has submitted its FY26-FY31 capital improvement items for inclusion in the City of Ann Arbor's Capital Improvement Plan and that Plan has been approved by the Planning Commission for inclusion in the FY27 Budget; Whereas, Before the budget may be adopted by the board, the statute requires that it be approved by the governing body of the municipality, and in March the DDA Board did approve putting the FY27 Budget forward to City Council, and City Council did receive and include the DDA Budget in its FY27 Budget as a component unit, and City Council did hold the required public hearings and did approve the DDA's FY27 Budget on May 18, 2026; RESOLVED, That any unspent DDA Grants included in the FY 2026 budget may be carried forward without regard to fiscal year; RESOLVED, That any unspent capital funds included in the FY 2026 budget may be carried forward without regard to the fiscal year; RESOLVED, That the Executive Director be authorized to reallocate budgeted amounts within funds; RESOLVED, That the DDA Board adopts the following revenue and expenditure appropriations by fund as its Fiscal Year 2027 Budget: