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CVTA reports more than $1 billion in tax revenue and $17 million in interest income; finance committee explores investment rules
Summary
Staff told the authority the region has passed $1 billion in tax revenues collected under CBTA and has accumulated more than $17 million in interest income. The finance committee discussed options for using interest income and asked staff to develop a reinvestment snapshot tool with PFM.
Staff told the Central Virginia Transportation Authority that the region has exceeded $1 billion in CBTA tax revenues and that the pooled funds have generated more than $17 million in interest income available for future consideration.
Chad, the authority’s executive director, highlighted the milestone: “We are now over $1,000,000,000 in tax revenues.” He also said the authority has “over $17,000,000 in interest income” in pooled funds and that the finance committee discussed creating guidelines or requirements for how to approach interest income going…
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