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Fenton reports $902,735 in combined sales tax for period; general fund balances noted
Summary
Finance reported combined sales-tax generation of $902,735 for the period; the board was told the city’s total fund balance across general and restricted funds was about $28.1 million as of May 31.
Timmy Allsup presented the city’s sales-tax summary to the Board of Aldermen on July 24. The city generated $586,249 in one sales-tax category and $316,486 in a pool sales-tax category, for a combined total of $902,735. Of the combined amount, $451,239 (50 percent) was redistributed. Allsup reported a May 31 fund-balance snapshot showing a general-fund balance of $13,391,400, restricted funds totaling $10,652,986, and a combined total fund balance of $28,085,744.
