Development Authority September 2026 Financial Report
At a glance
- What: Monthly cash and activity report to the Development Authority for September 2026, presented by finance staff.
- Where it stands: Received without questions on October 13, 2026.
- Next: A report for October at the next monthly meeting.
Highlights
- Operating account: about 8.6 million dollars at the start of the month, receipts of 868,552 dollars (a partial land sale payment in the Corporate Landing Business Park, an industrial revenue bond administration fee, interest, and incubator rent) and disbursements of 30,310 dollars, ending at 9,518,319 dollars.
- Two payments totaling 453,532 dollars, for Atlantic Park garage cable barrier wrapping and pre-development work on the 19th Street garage, were reimbursed by the city from its capital improvement program on September 28, so operating cash did not change.
- Capital maintenance accounts: human services building ending 2,252,270 dollars (1,436,899 dollars available after encumbrances), dome account unchanged at 163,978 dollars, and the Virginia Beach National Golf Course account ending 960,716 dollars (846,761 dollars available).
- Facade improvement grants: one sign reimbursement of about 2,500 dollars (ending 73,600 dollars), and Atlantic Avenue facade grants of 25,000 dollars for a hotel's exterior lighting and a smaller sum for security lighting and a sign face at a restaurant (ending 197,337 dollars).
- Economic development investment program (EDIP): no reimbursements in September; an award of 42,000 dollars approved at the prior meeting (775,000 dollars of capital investment, seven new jobs) raised encumbrances; about 5.9 million dollars remains available for future awards (figure as captioned, approximate).
Sources
- 2026-10-13 - Development Authority (auto-captioned recording of the October 13, 2026 Development Authority meeting)
Discussion time
About 7 minutes across 1 meeting (from transcript timestamps; approximate).
| Meeting | Minutes |
|---|---|
| 2026-10-13 - Development Authority | 7 |
Log
- 2026-10-13 - Development Authority — Monthly financial report for September; no questions.