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Angleton board reviews ABLC, rec-division finances and flags revenue shortfall
Summary
The Angleton Better Living Corporation received year-to-date financial reports showing REC divisions mostly in the black but an ABLC revenue shortfall tied to lower sales tax; staff projected transfers and dedicated grant funds would leave ABLC with just over $800,000 after closeout.
The Angleton Better Living Corporation on Oct. 14 reviewed year-to-date financial statements and fund balances for the ABLC and recreation divisions and heard staff warn of a near-term sales-tax-related revenue shortfall.
Presenter (S3) told the board that the corporation was “one payment short for the fiscal year” and that staff had reworked transfers to reduce pressure on ABLC’s general balance. Presenter said staff revised an expected transfer down to…
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