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Ivanhoe council approves TML payment and September financial report; ad-valorem receipts reported
Summary
Council approved payment to TML for FY2026 and unanimously accepted the September 2025 financial report, which shows $7,573 deposited by the State Comptroller for sales & use taxes and $16,169 in ad-valorem receipts.
Councilmember Vonderlin moved to approve the TML payment for FY2026; Councilmember McWhorter seconded and the motion passed unanimously. Separately, the council reviewed September financials and Councilmember McWhorter moved to approve the report; that motion also passed unanimously.
The minutes note that the State Comptroller direct-deposited $7,573 on Oct. 10 for sales and use taxes collected in August, and that September ad-valorem taxes totaled $16,169 (with $13,165 allocated to Maintenance & Operations and $3,003 to Interest & Sinking). The report also records Texas Class interest at 4% for the reporting period.
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