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Sales Tax District No. 1 reports $200,000 revenue uptick, delays on sidewalk project update requested
Summary
At a Bastrop Sales Tax District No. 1 meeting, a staff member told board members that third-quarter revenue projections rose from $1.4 million to $1.6 million mainly because interest income exceeded the budgeted amount; the board also heard that the sidewalk project is in predevelopment and asked the district engineer for a status update.
A staff member reported at the Bastrop Sales Tax District No. 1 meeting that the district’s third-quarter revenue projection rose from $1,400,000 to $1,600,000, driven largely by higher-than-expected interest income.
The staff member said, “The bottom line, original budget, the revenue total revenue was $1,400,000,” and that “it increased, $1,600,000 — that's mainly due to, more interest income that came in from that was originally budgeted.” Staff noted interest income was budgeted at $200,000 but is now projected to be about $450,000.
The revenue increase helps offset planned project spending, the staff member said, but does not eliminate existing carry-forwards. The district had earlier forecast a roughly $1,350,000 drawdown tied to capital projects. Committee members raised the Mackenzie Bridge and sidewalk projects as examples of work that is still underway.
On the sidewalk project, staff told the board the work remains in the predevelopment stage and that $357,000 is specifically dedicated to that effort. The staff member said the district also has a $300,000 grant for the sidewalk and described a change in cash-management practice: instead of prepaying full project costs up front, the district will pay invoices as work is completed and submit claims for reimbursement.
“We're gonna pay as you go,” the staff member said, adding that paying in that way lets the district avoid reserving the full grant amount in advance and frees up cash for other items. Committee members pressed staff to ensure reserved matches and specified allocations will remain available when needed and asked for confirmation that front-loading costs would not jeopardize other projects.
Members requested a consolidated status report from the district engineer covering timing, invoices, and carry-forwards. The staff member agreed to have the engineer present a full update at the next meeting.
The meeting moved on after the staff presentation; no formal votes or motions on these items were recorded in the transcript.
