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Fair Oaks Ranch MDD posts year-end surplus; board reaffirms investment policy
Summary
For the fiscal year ending Sept. 30, the Fair Oaks Ranch Municipal Development District reported revenues of $687,514, a net increase of $420,726 to fund balance, and the board unanimously reaffirmed its investment policy to comply with the Public Funds Investment Act.
The Fair Oaks Ranch Municipal Development District reported preliminary fiscal-year results to the board on Oct. 8 showing revenues above budget and a boost to the district's fund balance.
Staff reported the district collected approximately $450,000 in sales-tax receipts through September, and because sales tax is received two months in arrears staff accrued an additional $78,000 for August and September collections, bringing…
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