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Bastrop EDC reports mixed finances; sales tax down, interest income cushions shortfall
Summary
EDC staff reported August sales tax receipts of $121,692 and September receipts of $135,312, leaving the organization under budget for the year by $253,000; staff said interest income (corrected in discussion) will offset the shortfall and reviewed several contract-related receivables and accounting entries.
At its regular meeting, the Bastrop Economic Development Corporation received the financial report for the period ending Aug. 2024 and discussed revenue, contracts and accounting entries related to ongoing projects.
The finance presenter said year-to-date revenues are trending positive but that August sales-tax receipts totaled $121,692, below projection; she added the EDC collected $135,312 in September. “We’re still going to be under budget for the year by $253,000,” the presenter said, but…
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