MCDC finance report: sales tax up 5.5% year to date; city forecasts 5.5% year-end

Chance Miller, MCDC assistant finance director, presented the month-9 financial report: the corporation received nearly $2.4 million in June (about $2.1 million in sales tax), with expenditures for the month totaling about $466,000. Miller said sales tax for the period showed an 8.6% increase over the prior year, bringing the year-to-date figure to 5.5%.

Miller said the current fiscal year is expected to end at 5.5% (the adopted budget assumed 3%), and staff is proposing to budget a 3.5% increase for FY2027. Board members had no substantive objections and thanked staff for the update. Miller offered to answer detailed questions about line items and audit collections.