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Tourist board approves August minutes and the fiscal statements after staff presentation
Summary
The tourist board unanimously approved amended August minutes and the financial statements for the period presented; finance director Tracy Waldron summarized FY23 and FY24 captured values and TIRS balances.
The board opened by approving an amendment to the August minutes and then heard the quarter’s financial presentation from Tracy Waldron, the city’s finance director.
Waldron told the board FY23 had a captured value of about $464,000,000 and roughly $2.3 million in TIRS revenue after eligible expenditures; for fiscal 2024 she reported a captured value of about $571,000,000, total revenue near $3.2 million and an ending TIRS balance of roughly $6,000,000. Board members asked clarifying questions about service payments, debt service and rounding differences in the fund balance calculations; staff explained that certain service payments are payments from developments and that certificate of obligation schedules affect when revenues free up for other projects.
After questions, members moved and seconded approval of the financial statements as presented; the motions to approve the minutes and the statements passed unanimously.
