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Finance director reports $19.8 million in CDC/EDC funds, details debt obligations
Summary
City finance director Amy Burrison told the Anna EDC/CDC board the combined funds totaled about $19.8 million as of March 31 and outlined outstanding debt, yields and recent interest receipts.
The City of Anna’s finance director reported to the joint Economic Development Corporation (EDC) and Community Development Corporation (CDC) board on May 1 that the two corporations held about $19,800,000 combined as of March 31.
Amy Burrison, the city’s finance director, said roughly 71% of those funds were in the city’s independent bank accounts and 29% were in the local government investment pool (LGIP)/tax pool. Burrison gave a breakdown showing about $13.3 million held for the CDC and approximately…
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