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EDC finance report: sales-tax receipts topped $700,000 for first time; staff flags overtime and permit trends
Summary
EDC staff reported record sales-tax collections for December (reflected in February reporting), noted elevated overtime spending and a slowdown in construction permits, and provided unemployment figures for the region.
EDC finance staff told the Rio Grande City Economic Development Corporation on March 17 that sales-tax collections tied to December activity pushed monthly receipts above $700,000 for the first time in the city's history, a jump that shows increased local spending but also reflects inflation and seasonal effects.
Staff members presenting the financial report said the December collections — shown in the February report — were about $707,000 and represent the…
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