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Anderson 01 staff reports year-end revenue above budget, flags encumbrances and retainage
Summary
Finance staff reported year-to-date revenue of $59,728,907.23 and read that expenditures were $56,000,001.63; staff said three sales-tax payments were received this month and that $767,000 from those payments was used for property tax relief, while encumbrances and retainage remain to be paid.
Finance staff presented the district’s year-end financial picture and told the board the district’s revenue for the year-to-date was $59,728,907.23.
Speaking to the board, the staff member said expenditures stood at $56,000,001.63 and that encumbrances and retainage remain outstanding and are expected to be reconciled next month. The presentation noted three sales-tax payments were received for March, April and May; the staff member said $767,000 of those receipts went to property tax relief and reported office sales-tax encumbrances of $3,200,000. The presenter added that the district “did hit budget” for revenue and read a cumulative revenue figure as "121,000,000, $945,536.20" and expenditures as "$118,000,002.83," but cautioned year-end adjustments will change final totals.
The finance remarks closed with staff saying one local account should reach a zero balance next month after remaining retainage of about $1,900,000 is paid. The board did not take action on these reports during the meeting; staff said they will return with reconciled year-end figures.
