MCDC financial report shows $6.54 million in debt‑service assets; board hears large commitments
Staff reported Debt Service Fund assets of about $6.54 million and noted the board has approved major commitments — including roughly $10 million for Heritage Park — that will be paid out over time; several line-item figures in the verbal report included transcription artifacts and require confirmation.
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The board received the Midlothian Community Development Corporation financial report from staff (Speaker 10). He said the MCDC Debt Service Fund total assets were $6,538,177 and walked the board through beginning fund balances, revenues and recent bond payouts; he noted a bond series payout from 2014 completed in May. “If we're looking at fund 06/24, the MCDC Debt Service Fund, you can see your total assets is $6,538,177,” he said.
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