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MCDC finance report: August sales tax $2.2M; debt service drives month’s major expenditures
Summary
Assistant Finance Director Chance Miller reported August revenues of about $2.5 million for the McKinney Community Development Corporation, driven by roughly $2.2 million in sales tax receipts; the board discussed presentation clarity and budget timing as the fiscal year closed.
Assistant Finance Director Chance Miller presented the MCDC financial report for August, the 11th month of the fiscal year, reporting approximately $2.2 million in sales tax receipts for the month, interest income near $260,000 and roughly $30,000 in miscellaneous revenues. He summarized total revenues for August as about $2.5 million.
Miller told the board major August expenditures included approximately $65,000 in operational expenses, $260,000 in project expenses and about $1.9 million…
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