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Advisory commission reviews Old Webster district finances; reserves and business-license receipts noted
Summary
Commission heard a district revenue update showing about $78,000 in district account, business-license and real-estate tax figures for three fiscal years, and discussion that council questioned the district's reserve level when reviewing the budget.
At the June 24 meeting of the Old Webster Special Business District Advisory Commission, city staff presented a district revenue update and commissioners discussed reserves, outstanding business licenses and when funding might arrive from the city budget.
City staff reported the district account balance at about $78,000, with roughly $43,000 from real-estate taxes and about $32,000 collected so far in business-license receipts. Staff said business-license revenue is budgeted at $40,000 for the fiscal year;…
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