EDC finance staff told the Rio Grande City Economic Development Corporation on March 17 that sales-tax collections tied to December activity pushed monthly receipts above $700,000 for the first time in the city's history, a jump that shows increased local spending but also reflects inflation and seasonal effects.

Staff members presenting the financial report said the December collections — shown in the February report — were about $707,000 and represent the highest single monthly total on city record, surpassing prior highs. Presenters cautioned that part of the increase reflects higher prices as well as consumer spending around the holidays and that collections can fluctuate; March and future months will clarify whether the trend continues.

The finance update also included these points: the county unemployment rate was reported at 10.1 percent, with the broader valley at about 6.4 percent, the Texas average at 4.2 percent and the national average at 4.1 percent. Staff reported that construction and residential permits slowed in February compared with January. On expenditures, the EDC said it is at roughly 29 percent of its annual budget year‑to‑date compared with an expected 41 percent at this point in the fiscal year; overtime spending was reported at about 70 percent of the budgeted overtime allocation.

Board members asked for clarity about a listed $12,500 economic-development expenditure (staff said it reflected incentive payments) and for confirmation that several grants and incentive payouts had been distributed. Staff confirmed payout activity for the small grants referenced in the packet and said remaining documentation would be available.

The presenters recommended monitoring these indicators over the next two quarterly reports and flagged overtime and the slowdown in permits as items requiring continued oversight.