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EDC reports sales-tax rise; year-to-date revenue at roughly half of projected budget
Summary
EDC staff reported November sales-tax receipts described in the meeting as $2,077,168 (a 2.14% year-over-year rise), year-to-date sales tax of $529,079 (about 50% of the projected annual budget), and fiscal-year expenditures of $58,081 (2.8% of approved budget); staff said the figures reflect receipts collected in November for the month of September.
Rio Grande City Economic Development Corporation staff presented the agency's November financial report, reporting a year-over-year increase in sales-tax collections and current-year budget figures.
Staff stated the city’s November sales-tax collections as “2,077 thousand 168,” which was identified in the packet as a 2.14%…
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