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Finance committee reports $2.14 million in bills paid; authority draws $42 million from Legacy Fund
Summary
The Finance Committee reported approval of $2,136,581 in bills, a net cash balance of $338,232,087, and an additional $42,000,000 draw from the Legacy Fund, leaving about $45,000,000 of Legacy funds available; staff corrected the sales tax growth figures in the packet.
The authority’s Finance Committee reported routine financial activity and corrected a sales tax figure that was wrong in the meeting packet.
“Approval of the bills in this reporting period was for $2,136,581,” Mayor Dardis told the board, and he reported a net cash balance of $338,232,087. Dardis said the authority drew another $42,000,000 from the Legacy Fund and that approximately $45,000,000 remained available in that resource.
Dardis also noted a correction to the sales tax report in the packet. He said the corrected figures show county‑level sales tax growth of 8.8% year‑to‑date for 2025 and city collections growth of 9.4%; he reminded members that the cash budget assumes a 1.5% growth factor.
A motion to approve the finance report was made and carried by roll call during the meeting’s business; the board completed the roll call vote recorded in the meeting minutes.
This item was presented as the Finance Committee’s monthly report; the board approved the finance report as presented.
