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Chairwoman DeVirgilio reports AEDD ending balance of $218,334.88; sales tax report noted
Summary
Chairwoman Ambre DeVirgilio reported the Americana EDD had an ending balance of $218,334.88 and spoke about the AEDD sales tax report; the minutes do not include detailed sales tax figures or analysis.
Chairwoman Ambre DeVirgilio told the Americana Economic Development District that the AEDD ending account balance was $218,334.88. The minutes record: "Mrs. DeVirgilio gave an update on the AEDD account balance, with the ending balance $218,334.88."
DeVirgilio also "spoke regarding the AEDD sales tax report," according to the minutes, but the document does not provide figures, trends, or further explanation of the sales tax report. The minutes contain no staff presentation or supplemental materials attached to explain sales tax receipts or projections.
The finance update preceded a formal disbursement approved later in the meeting. The minutes do not indicate whether the reported ending balance is before or after the approved disbursement; the disbursement motion approved later in the meeting specifies a total disbursement of $208,334.88 and a remaining balance of $10,000.00.
