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Benbrook EDC reports March sales tax receipts of $168,947; board approves March minutes
Summary
At its April 21 meeting the Benbrook Economic Development Corporation heard a financial report showing $168,947.91 in March sales tax receipts, approved its March 17 minutes by roll call vote, and held a closed executive session on real property with no action taken.
Benbrook Economic Development Corporation President Kent Williams called the April 21 meeting to order at 7 p.m. and the board approved the March 17, 2025, regular meeting minutes by roll call.
The board then heard a financial report for the period ending March 31, 2025. "For the month of March, the board did receive $168,947.91 for your total sales tax revenue," Ms. James said while presenting the report. She told the board the board's year-to-date collections for the calendar year were $594,706.43.
Ms. James reported account balances and other revenue and expenditure details: a checking account balance of $3,175,810.12; a tax pool balance of $4,141,299.47; total liquid assets of $7,317,109.59; franchise payments of $1,731.66; and total revenue collections for March of $190,637.13. She reported total operating expenses for March of $31,933.90 and said that, including pending project encumbrances, total encumbered funds for the month were $2,993,478.54. Ms. James said the "overall fund balance ending of 03/31/2025" was $4,323,631.05.
Kristen Melton moved to approve the March 17, 2025, meeting minutes; Mr. Casey seconded. The board conducted a manual roll call vote. Place 1 Carrie Lindsey voted "aye." Place 2 Dr. Danielle Atoll voted "aye." Place 3 Kristen Melton voted "aye." Miss Harkins was recorded as absent. The president stated, "The motion passes." The minutes were approved.
The board then convened a closed executive session under the Open Meetings Act authority cited by the president as Texas Government Code section 551.072 for deliberations regarding real property. The meeting reconvened at 7:51 p.m.; Kent Williams said there was "no action that needs to be taken tonight." The meeting was adjourned at 7:52 p.m.
The financial figures and account balances above were provided by Ms. James during the meeting as the board's financial report; the board did not take any separate action on the financial report during the public session.
