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MEDC board approves preliminary September financials; sales tax up for month
Summary
Assistant Finance Director Chance Miller presented preliminary September figures showing $2.1 million in sales tax for the month and $24.4 million year-to-date; the board voted to approve the preliminary financial report pending final audit adjustments.
Chance Miller, assistant finance director, presented the MEDC's preliminary September financials and projections, noting the city collected $2,100,000 in sales tax in September, bringing year-to-date sales tax to $24,400,000. "For September, we collected $2,100,000 in sales tax revenue that brought our year to date to $24,400,000," Miller said, adding that interest income for the year-to-date totaled about $1,500,000 and that the year's total projected revenue was roughly $89,900,000 on a preliminary basis.
Miller walked the board through expenditures and fund-balance estimates, saying operations and project expenses drive most outlays and that upcoming items (a roadway transfer and one project accrual paid in FY26) would adjust the final figures. The board moved to approve the preliminary financials; the motion was seconded and passed by voice vote.
Board members asked about unusual sales-tax patterns in neighboring cities; Miller replied the rise in Plano may reflect new business activity but he lacked internal breakdowns and described such inferences as speculative pending other agencies' reporting.
