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McKinney CDC hears May financial report: sales tax up after adjustments, retail trade remains strong
Summary
Assistant finance director Chance presented the MCDC financial report for May, reporting roughly $2.5 million in revenue for the month, expenditures near $300,000, and a 1.8% raw increase in sales-tax collections for the reporting period (March sales). Adjusted for audit collections, period-to-period sales-tax growth was about 5.9%.
The McKinney Community Development Corporation received its monthly financial report for May on Thursday and heard staff describe stable revenues, modest monthly expenditures and encouraging retail sales indicators heading into the summer months.
Assistant Finance Director Chance reviewed revenue and expense totals. He reported roughly $2,200,000 in sales-tax collections for the reporting period (collections in May attributable to March sales), about $300,000 in interest and other revenue tied to leased office space and miscellaneous receipts, with total month…
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