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Indian Trail reports third-quarter revenues above expectations; ad valorem at nearly 99.5% collection
Summary
Finance staff told the council that third-quarter revenues and expenditures generally track to budget, with ad valorem collections exceeding expectations and one-time asset sales boosting miscellaneous revenue.
Alicia (finance staff) presented the town’s third-quarter financial report, telling the council departments remain “fiscally responsible” as spending slows heading into the final quarter of the fiscal year.
“Our expectations, we want to see 75% in our revenues and expenditures,” Alicia said as she reviewed the town’s revenue and expenditure performance. She reported the town budgeted ad valorem taxes at a 96% collection rate and had…
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