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EDC reports $2M-plus April revenue, 13% sales tax uptick for reporting period
Summary
Assistant finance director Chance Miller told the board April revenue exceeded $2,000,000, with expenditures just over $1,000,000 and a reported 13% monthly sales-tax increase for the period collected in April, bringing year-to-date growth to about 4.5%.
Chance Miller, assistant finance director, presented the MEDC's April financials and highlighted revenue, expenditures and sector contributions. "We collected a little over $2,000,000 in revenue," Miller said, noting most of that revenue came from sales taxes. He reported expenditures slightly over $1,000,000, including a routine transfer to Coveralls and I and S service payments, operational costs around $400,000 and project expenses of $36,000 for April.
Miller said a 13% increase in sales-tax collections was recorded for the period collected in April (bringing year-to-date growth to about 4.5%) and observed that growth appeared to be broad-based across industries rather than driven by a single large remittance. Board members then voted to approve the April financials.
