about 2023 · Context

AEDC agreement with Texas Tech reduced by $5 million

The City's fiscal 2024 and 2025 annual financial reports state that in 2023 the AEDC's agreement with the Texas Tech University System was reduced by $5 million. The reports do not give a date or reason.^[1]^[2]

Amarillo Economic Development Corporation (AEDC)Texas Tech University System

What the sources say

✓ Verified
The fiscal 2024 and 2025 annual financial reports state, 'In 2023, the agreement was reduced by $5 million.' Neither report states why, and no fetched source explains the reduction.^[1]^[2]
Reduction
$5,000,000

Sources

1.Annual Comprehensive Financial Report, fiscal year ended September 30, 2024 — City of Amarillo, Mar 25, 2025 · retrieved Oct 9, 2026primarySubject-authoredIndependent auditor's report on CMMS CPAs & Advisors PLLC letterhead dated March 25, 2025. Note 1 describes prior period adjustments. Re-hosted on amarillo.gov in March 2026.
2.City of Amarillo Annual Comprehensive Financial Report, fiscal year ended September 30, 2025 — City of Amarillo, Jun 4, 2026 · retrieved Oct 9, 2026primarySubject-authoredNote 13 (long-term obligations) describes each certificate-of-obligation series; Note 29 (subsequent events) records the Series 2026 and 2026A certificates, the Series 2026 PPFCOs and 2026 water-sewer revenue bonds. Issue dates differ in places between Note 13 and the statistical tables.