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ChatGPTClaudePerplexity· Related development
TIRZ #1 board approves its 2022-23 budget
Director of Finance Mathew Poston presented a 2022-23 budget starting with $1,293,294 (including $50,000 returned from the Pergola Shop project, which was not going forward), revenue of $1,763,373 and expenditures of $1,157,897, leaving projected ending cash of $1,898,771 against a target fund balance of $473,319 (a 90-day operating reserve plus one year of debt service). The board approved it unanimously; a board member asked for a summary of the zone's incentive agreements.[1]
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Poston said revised 2021-22 figures were a $1,083,395 starting balance, $1,554,223 in revenue and $1,394,324 in expenses, and that the 2022-23 proposal had revenue of $1,763,373 (about $200,000 more) and expenditures of $1,157,897, with projected ending cash of $1,898,771 and a $473,319 target fund balance. H.R. Kelly moved and Jackson Latimer seconded; the budget passed unanimously. Freeman said the Herring Hotel's new owners would likely apply for an incentive. [1]
