EDC finance presenter says sales tax receipts at 75% of budget year-to-date; reserves and timing noted

An EDC staff member identified in the public record only as John reported financial figures during the Sept. 23 Kennedale Economic Development Corporation meeting. John said year-to-date sales tax revenues were at 75% of budget, compared with 89.3% at the same point last year. John reported rental fees for the shopping center were at roughly 93% of budget, compared with 97% at the same time last year, which he said he believed was a timing issue tied to when rent checks are received. He also reported operations expenditures at 66.5% of budget year-to-date versus 56% last year. John described the fund balance as “7 25 days of reserve” in the transcript; the phrasing in the meeting record is ambiguous and the exact number of days of reserve was not specified in clear numeric form during the public portion of the meeting. He invited questions; a board member asked whether the Dollar General space contributed to a revision in the rental-fee figure and John replied that timing of receipts could make the year-to-year comparison look higher or lower depending on when checks were received. Board members had no further public questions after that exchange and accepted the report. No additional documents (detailed budget worksheets or reconciliations) were attached to the minutes included in the transcript provided.