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Pasco PFD approves $1,001,260.97 in April claims; February sales tax receipts down 3% from prior year
Summary
The Pasco Public Facilities District board approved April claims totalling $1,001,260.97 and reviewed financial reports showing $374,857.87 in tax distributions for the reporting period, a 3% decline from February 2024, while staff noted $41 million invested and restricted cash on hand.
The Pasco Public Facilities District Board approved $1,001,260.97 in accounts payable for April and reviewed monthly financial reports and tax distributions during its May 20 meeting.
Veronica (finance staff) told the board that April claims processed through accounts payable totaled $1,001,260.97 and that the expense report breakdown mainly reflected construction costs plus new software maintenance invoices. The board moved and seconded approval of the April claims and recorded the motion as carried.
On tax distributions, staff reported receiving $374,857.87 for the period discussed and said that sales tax receipts for that month were 3% lower than the comparable February 2024 amount. Staff reiterated a minimum monthly sales tax target of $300,000 used in planning to meet current debt obligations; board discussion contrasted that $300,000 planning floor with a $400,000 monthly measure staff said will be needed to cover both debt service and an operating subsidy when the new facility opens. Board members urged continued monthly monitoring of receipts.
Veronica reported investment and budget figures: the district had about $41,000,000 invested and approximately $6,000,000 in restricted cash; year‑to‑date investment interest (including bond interest) was reported as $271,000. A budget performance tracker included a pie chart and showed about 83 percent remaining for the aquatic center total in one presentation slide, and staff noted continued monitoring of budget performance and contingencies.
Board members asked for clarity on software maintenance charges and were told those invoices related to a recently purchased bank reconciliation module; additional invoices remain pending. Veronica said one software module was approved by the board earlier with a budget cap of up to $10,000 and that the full invoiced amount had not yet posted.
Ending: The board approved April claims and asked staff to continue monthly financial monitoring, including sales tax receipts and investment performance, and accepted staff’s offer for follow‑up details as invoices and investment interest post to the ledger.
