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4/5/2018 11:06:55 AM
 
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Section 5: OPA Board Subject: Casino Funds History Msg# 1010002
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Joe
I mistyped the interest number. It should read $4,871 not 44,871. Larry |
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For reference, the above message is a reply to a message where: Joe The casino money gets direct deposited to our bank. It is handled in the budget as a direct contribution to the Roads reserve fund. It does not appear as revenue or expenditure on the general ledger. In the budget, we will have $511,784 as of 5-1-2018 in the Roads Reserve. The budget projection from casino funds is $325,000 with interest of 44,871 For a total of $329,871. There is $500,000 budgeted for roads this year leaving a balance of $341,655. The casino funds do not impact the assessment except that we do not have to collect assessments from the community for repairs. The $329,871 equals about $39 of assessment we don’t have to collect for reserves. Larry |
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