Capital Improvement Board finance update: $6.56 million allocated year-to-date, $300,000 unallocated pending fourth-quarter numbers
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Summary
Miss Moore told the Capital Improvement Board that the board had allocated $6,560,000 in projects year to date, had about $1,500,000 in accounts receivable tied to matching grants, and roughly $300,000 in unallocated funds pending the fourth-quarter budget figure.
Miss Moore provided a brief finance update to the Capital Improvement Board, saying the board had allocated $6,560,000 in projects year to date and currently had approximately $1,500,000 in accounts receivable from matching grants.
"We have about 1,500,000 in accounts receivable," Miss Moore said, and she explained that because some projects are matching-grant reimbursements the green-sheet shows the full project amount while the city spends up front and later receives reimbursement. She added that, excluding the pending fourth-quarter gaming amount, the board had about $300,000 in unallocated funds.
Miss Moore told the board she expected to have the fourth-quarter gaming/budget number available at the next meeting and that it would improve the unallocated balance. There were no motions or votes associated with the finance update; the board accepted the report and proceeded to new business.
The Chair and board members asked no substantive follow-up questions during the report. The next regular Capital Improvement Board meeting was announced for Oct. 20 in the chambers.