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Angleton Better Living Corporation reports healthy reserves after accounting corrections, notes sales-tax shortfall
Summary
ABLC staff reported an unaudited ABLC fund balance of about $824,000, a contingency of $295,000 and corrections that added roughly $431,000 from the Angleton Recreation Center; staff also said sales-tax-driven revenues came in below projections, leaving a roughly $100,000 shortfall versus earlier expectations.
The Angleton Better Living Corporation reviewed year-to-date financials and fund balances at its December meeting, with staff reporting an unaudited ABLC balance of about $824,000 and contingency funds that leave the corporation on track to meet its reserve target.
Staff member (Speaker 3), who presented the report, said an accounting adjustment moved about $431,000 from the Angleton Recreation Center into ABLC’s fund balance to correct prior transfer errors. Speaker 3 also told the board that…
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