Saratoga Springs' business-incentive agency had $1.1 million on hand. Its budgets show no activity after that

Saratoga Springs' Community Development Agency is governed by the mayor and City Council. The city's audited report says its sole purpose is a financing tool that lets the city allocate sales tax collected in the city to provide incentives for incoming businesses within a designated project area. ^[1]

The agency does not issue separate financial statements. Its money is reported as a fund within the city's books. ^[1]

Fiscal 2025

In the year that ended June 30, 2025, the agency's fund reported $1,775,820 in intergovernmental revenue and $896,650 in community development expenditures. Its fund balance rose by $879,170 to $1,115,389, which the report classifies as assigned for community development. ^[1]

Three years of activity

Budget tables in the council's Aug. 11, 2026 packet list the agency's inflows as $760,000 in fiscal 2023, $880,000 in fiscal 2024 and $1,775,820 in fiscal 2025. Its spending, listed as materials, supplies and services, was $729,649.69, $808,401 and $896,649.83 in those years. ^[2]

The same tables list no agency revenue or spending in the fiscal 2026 adjusted budget or the fiscal 2027 budget. ^[2]

The adopted 2026-27 budget's table of fund balances available for appropriation lists the agency at $236,219 for fiscal 2024, $897,170 for fiscal 2025 and none for fiscal 2026. ^[3]

What the records don't show

None of the records reviewed names the businesses or projects that received the agency's money, the agreements behind the payments, or what happened to the balance reported at June 30, 2025. ^[1][2][3]