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Manvel MEDC treasurer reports steady sales‑tax growth; committed funds held pending invoices
Summary
MEDC staff reviewed account balances, restricted investments, and a sales‑tax history showing gradual monthly growth; committed funds allocated to city projects remain invoiced to the MEDC only when expenses are reported, preserving interest until disbursement.
Tammy, staff member, presented the treasurer's report and walked the board through account balances, restricted investments, and committed project funds. "Those are your two highest paying entities, so that's why we have your funds as much as we can in those accounts," Tammy said, referencing First State Bank, a Text Pool…
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