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Benbrook EDC reports August half‑cent sales tax receipts of about $222,000; fund balance $5.51 million
Summary
At its September regular meeting, the Benbrook Economic Development Corporation heard a monthly financial report showing $222,293 in August half‑cent sales tax, total liquid assets of about $7.7 million and a fund balance of $5,506,359.49.
At its September regular meeting, the Benbrook Economic Development Corporation heard a monthly financial report showing $222,293 in half‑cent sales tax receipts for August and a fund balance of $5,506,359.49.
Ms. James, the corporation’s director, reported the August half‑cent sales tax receipts and walked the board through the month‑end figures. "The board did receive $222,293," Ms. James said during her presentation. She told the board total collections year to date were $1,621,624.94.
Ms. James said the corporation’s checking account held $3,481,949.98 and its tax pool account held $4,216,686.16, bringing total liquid assets to $7,698,636.14. The report included an August franchise payment of $1,220.83 and total revenue collections for the month of $244,227.99.
Operating expenses for August were $34,668.97. Ms. James said the pending project balance was $2,157,607.68; when combined with operating expenses the board’s encumbered funds for the month totaled $2,192,276.65.
Including liquid assets and encumbered funds, Ms. James reported the fund balance at $5,506,359.49. She offered to answer questions; none were recorded in the transcript.
The financial report was presented as an informational item; there was no formal board action tied to the report during the meeting.
