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Pasco PFD approves July claims and reviews budgets as sales tax receipts dip
Summary
The Pasco Public Facilities District board approved July 2025 accounts payable totaling $2,977,099.97 and reviewed financial reports showing cash and investment balances, a decline in recent monthly sales tax collections, and the Aquatic Center project budget-to-date.
The Pasco Public Facilities District board voted to approve July 2025 accounts payable in the amount of $2,977,099.97 and received a multi‑part financial briefing from staff.
Veronica, staff accountant, walked the board through the expense report and balance sheet. Staff reported operating cash on hand of roughly $4.0–$4.5 million, investments of about $36 million, and a fund balance figure summarized in the packet. Staff also reported investment interest of $119,728.49 for the reporting period.
Sales tax reporting: staff highlighted that local sales tax collections (reporting month May, collected in July) were $470,226.25 and noted a recent downward trend: a 4% decline in the previous month and a 3% decline in the most recent month year‑over‑year. Board members asked staff to monitor monthly sales tax trends closely and consider whether additional funds in short‑term investment could be shifted into longer‑term investments when cash flow permitted.
Aquatic Center budget update: staff reported project expenses to date (including the land purchase) of $17,151,387.11. The board discussed cash flow management for construction bills and that some funds had been moved into restricted fund balance to meet near‑term obligations.
Board action: a motion to approve the July 2025 accounts payable for $2,977,099.97 was moved, seconded, and approved by voice vote.
What the board did not decide at this meeting: no changes to tax policy, investment policy, or the monthly reporting cadence were adopted. Staff said they would follow up with more detailed investment timing options and continue monthly reporting on sales tax and cash positions.
