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EDC finance report: sales‑tax timing, one‑time payments and 340 days of fund balance
Summary
At the November Kennedale EDC meeting, staff reported sales tax receipts lag two months (October numbers appear in December), one‑time payments (final Texas Leverage Fund loan payment and full insurance premium) pushed operations spending higher, and the EDC reported roughly 340 days of fund balance remaining.
Speaker 2 reported to the Kennedale Economic Development Corporation that sales tax revenue for October will not be reflected in the reports until December because collections are reported two months behind. "Our sales tax revenues, we're really not gonna see October's numbers until December," Speaker 2 said, adding that being under 1% of budget at this point is consistent with last year's position.
Speaker 2 provided a…
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