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Economic Development Fund Update

Monthly calculations for May sales tax receipts are now available. As you can see below, the May 2012 receipts for the local option municipal economic development fund were up from May 2011. Those funds are available for a variety of uses, including low-interest loans to local businesses. Below the monthly collections is information on funds available from the economic development fund.

Ord City Sales Tax Receipts
1 Percent for Economic Development — 1/2 Percent for Downtown Revitalization

 

Month

1%

10-11 FY

1%

11-12 FY

0.5%

10-11 FY

0.5%

11-12 FY

August $31,558.17 $35,103.97 $15,779.09 $17,551.99
September $34,844.73 $33,825.93 $17,422.37 $16,912.96
October $38,892.57 $35,585.32 $19,446.29 $17,792.66
November $31,702.09 $0* $15,851.04 $0*
December $40,320.24 $0* $20,160.12 $0*
January $27,575.27 $0* $13,787.64 $0*
February $28,446.80 $0* $14,223.40 $0*
March $41,171.39 $34,031.43 $20,585.70 $17,015.71
April $35,495.25 $33,456.14 $17,747.63 $16,728.07
May $38,117.87 $42,631.21 $19,058.93 $21,315.61
June $47,674.06 $23,837.03
July $35,838.23 $17,919.11
TOTALS $431,636.67 $214,634.00 $215,818.35 $107,317.00

TOTAL FUNDS AVAILABLE $738,542
Funds Committed
Sales Tax Reserve (in budget) $0.00
NNI Construction Financing Fund $300,000
New Neighborhoods Infrastructure Fund $30,000
New Neighborhoods Engineering Fees $7,103
Mortensen Site Signage $10,000
Loan 2012-02 $150,000
Summer Internship $3,500
TOTAL FUNDS COMMITTED $500,603
FUNDS AVAILABLE FOR USE $237,939

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