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Fredericktown aldermen receive October financial report; proceeds funds noted
Summary
The board heard an October financial report noting roughly $600,000 in proceeds funds and that sales-tax receipts are up year-to-date (exact percentage not specified); a new retailer referenced in the transcript is expected to raise sales and property tax collections.
At the Nov. 25 meeting the Fredericktown Board of Aldermen heard the October financial report from the Administrator, who noted proceeds funds of about $600,000 and that the city is earning interest on its checking account.
The Administrator said sales-tax revenue is up year-to-date but did not state an exact percentage in the transcript. The Administrator also told the board that a retailer referenced in the record (transcribed as "loes") is about to open and is expected to increase both sales and property tax revenue.
The Administrator said the water department had a rate-related change intended to help financial stability but did not provide complete figures in the transcript. No budget adoption, appropriation change, or formal finance vote occurred during this portion of the meeting; the item was presented as an informational report.
