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Argyle MDD sees sales-tax spike after audit reallocation; board reviews incentive payouts and FAC Aesthetics request
Summary
Finance Director Marissa Barrett reported an unexpected February sales-tax increase tied to a Comptroller audit reallocation of online sales. The MDD reviewed approved incentive payouts, estimated fund balance and heard an owner request for additional incentive funds from FAC Aesthetics.
Marissa Barrett, Argyle's finance director, presented the MDD's financial status through Feb. 26, reporting a sharp February increase in sales-tax revenue that staff attributes to a Texas Comptroller reallocation of online sales dating to 2019.
Barrett said year-to-date revenues total roughly $261,000, about 45% of the annual budget, and that sales-tax collections have reached 54% of budgeted projections for the year through late February. She cautioned, however, that the February spike reflects a one-time audit adjustment and may not repeat at the same scale in future years: "We are aware of a taxpayer, that was reallocated on what appears to be online sales from 2019," Barrett said.
On expenditures, Barrett reported roughly $114,544 as spent…
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