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EDC finance director reports sales-tax and rental-fee trends; staff optimistic for full-year goal
Summary
EDC finance presenter John Orton reported year-to-date sales tax at 75% of budget (down from 89.3% same time last year), rental fee collections for the shopping center at 93% of budget, and operations expenditures at 66.5%; he said timing of cash receipts (e.g., Dollar General rent) can affect monthly percentages and he expects to reach 100% of budget for sales tax by year end.
John Orton presented the EDC's August financial report, saying year-to-date sales tax revenues were at 75% of budget compared with 89.3% at the same point last year. He said he still believes the city will reach 100% of the sales-tax budget by year end.
Orton reported rental fees for the shopping center at 93% of budget (down…
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