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Quarterly report shows $118,000 balance in state accommodations fund; additional payment expected
Summary
Miss Amy presented the state accommodations quarterly report, saying the fund balance is just over $118,000 after the first-quarter disbursement; she said a December/January payment is expected soon and will raise the balance by roughly $67,000 when posted.
Miss Amy presented the state accommodations quarterly report and reviewed receipts and distributions through December. She said the first-quarter disbursement (for July–September) was received in October and that the ledger currently shows a balance of just over $118,000. "As of December 31st, we did receive our first quarter disbursement ... which leaves us a balance of just over 118,000 to date," she said.
She clarified that a payment covering the December/January period is expected to arrive imminently and that when posted it will increase the bottom-line balance by approximately $67,000 because the December payment posts in January. The presenter and members discussed the timetable for designated chambers to receive funds: applications come in April and payments are disbursed after July 1, meaning those recipients receive funds in the new fiscal year.
Board members asked clarifying questions about what payments were already applied to the report and were told the January/December payment was not yet reflected in the packet. The presenter confirmed that returned or unspent funds are handled according to usual procedures and that reported figures in the packet reflect receipts received through the October posting.
