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Discover Durant reports lower development-tax receipts, closes year with negative net income
Summary
Authority staff reported a January revenue drop and a fiscal-year net loss driven by grant-funded projects and the fall concert series; auditors are finalizing the 2023–24 audit and the authority expects the cost to come in under the original budget.
Discover Durant staff told trustees that the authority’s bank balance stood at $430,259 and that year-to-date income for the fiscal year (which begins July 1) totaled $248,266. Staff reported January receipts of $19,381.24, “which is slightly historically lower than any of the years since we became a tourism authority,” and said net income for the fiscal year to date was a negative $176,796, largely driven…
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