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Finance staff presents Q1 Type A fund update showing $2.5M in sales tax collections
Summary
A finance department staff member reported Quarter 1 actuals for the Type A economic development fund: $2.5 million in sales tax collected (5.12% over YTD budget), revenues budgeted at $9.7 million, expenses $8.5 million, and noted $3.2 million annual debt service through FY2033 and incentive payments in Q1.
A finance department staff member presented the quarter‑1 financial update for the Type A economic development fund, reporting $2.5 million in sales tax collections for the quarter and that the fund is tracking 5.12% ahead of its year‑to‑date budget projection.
“We've collected 2 and a half million dollars in quarter 1, which is 5.12 over year to date budget,” the presenter said, summarizing preliminary collections through Dec. 31, 2025. The presenter said 97% of the fund's revenue is…
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