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Benbrook EDC reports $267,248 in February revenue; board approves Feb. 25 minutes
Summary
At its March 17, 2025 meeting the Benbrook Economic Development Corporation heard a financial report for the period ending Feb. 28, 2025, and the board approved the Feb. 25, 2025 meeting minutes. No questions were raised about the finances.
Kent Williams, president of the Benbrook Economic Development Corporation, convened the March 17, 2025 regular meeting and the board approved the minutes from its Feb. 25, 2025 meeting.
Miss James, a staff member, presented the financial report for the period ending Feb. 28, 2025. She said the board received $248,192.15 in sales tax collections for February. The EDC's checking account balance on Feb. 28 was $3,118,938.89 and its taxable account balance was $4,126,109.73, for total liquid assets of $7,245,048.62. Interest earned on those accounts totaled $17,829.99 and franchise payment fees were $1,225.53, bringing total revenue for February to $267,247.67.
Miss James reported total operating expenses for February of $30,434.80 and a pending project balance of $2,963,319.64, which together she said produced total encumbered funds of $2,993,754.44. She summarized the fund balance taking into account liquid assets and encumbered funds as $4,251,294.18 for the period ending Feb. 28, 2025.
The board did not ask questions after the presentation. Earlier in the meeting, Mister Lindsey moved to approve the Feb. 25, 2025 regular board meeting minutes; Miss Melton seconded and the motion passed. The transcript records that the motion "passes" but does not provide a roll-call vote tally.
No formal action to accept the financial report was recorded in the public transcript.
Votes at a glance: approve minutes of Feb. 25, 2025 — motion by Mister Lindsey; second by Miss Melton; outcome: approved (roll-call tally not specified in transcript).
