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CBTA finance committee: lifetime tax receipts near $986 million; $18 million reserve and $15 million interest income highlighted
Summary
Central Virginia Transportation Authority finance committee members heard a financial update Sept. 10 showing lifetime CBTA tax receipts of $986,000,000 and investment income that staff said has returned to roughly $15,000,000.
Central Virginia Transportation Authority finance committee members heard a financial update Sept. 10 showing lifetime CBTA tax receipts of $986,000,000 and investment income that staff said has returned to roughly $15,000,000.
Mr. Parsons, a CBTA staff member presenting the packet, said: "Total receipt of taxes, lifetime to date now is $986,000,000." He told members the working capital reserve is "topped off at $18,000,000" and that interest income "is already back up to $15,000,000." Parsons said those figures reflect collections and accruals reported for April as of July 31.
Why it matters: the figures shape how local allocations and future project funding decisions are timed. Committee members pressed staff…
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