SUBJECT/RECOMMENDATION:
Title
Adopt May 2020 Financial Statement for filing
Body
SUMMARY:
Funds spent in May 2020 $6,972 which includes the expenses listed below minus the revenue credit.
• $147 Holiday Lighting Storage
• $4,187 PSTA Jolley Trolley Loop
• $6,126 CRA admin fee
• $658 Pinellas County Tax Collector Commissions
Revenue Credit
• $4,146.75 adjustment of taxable values credit
The DDB’s tax increment payment of $306,749.85 to the CRA was made in December based on estimated taxable values. In May, after the Value Adjustment Board met, there was an adjustment (reduction) to the taxable values, which resulted in a final taxable value $302,603.10, which resulted in a credit of $4,146.75.
Ending Balance $238,169 and Cash in Bank is $545,827