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Interim finance director: Cedar Park Type A fund on track after strong sales-tax first half
Summary
Interim Finance Director Erica Solis told the board the Type A fund is performing above budget through March 31, driven by stronger-than-expected sales-tax receipts and a one-time repayment from Hillion; expenses largely reflect scheduled transfers and timing on economic development incentives.
Erica Solis, interim finance director, told the Cedar Park economic development board the Type A fund’s 2025 revenues are budgeted at $8,900,000, with $8,600,000 of that derived from the city's sales tax. She said year-to-date sales-tax collections for the city's Type A 3.08-cent sales tax totaled $4,600,000 through March 31, 2025, about 7% above the year-to-date budget and 21.4% higher than the same period a year earlier.
Solistated that 2024 actuals were higher than budget because of stronger interest earnings and a repayment from Hillion that returned funds to the city: "For 2024, actuals did come in…
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