The following numbers are for the fiscal year beginning on Oct 1, 2019 and ending on September 30, 2020. Numbers for the recently-completed year ending September 30, 2021 are not available:
LEDC skimmed exactly $348,835 in sales tax revenue during this period. That is $348,835 that never made its way into City coffers to be used for things like parks, roads, or swimming pools. It is a record amount (breaking last year’s record of $313,229). We are talking about handing nearly $1000 per day (every single day) to these clowns to play with.
$48,677 was spent on paying the interest for all of their borrowing for their business park project. That “goat pasture” (former councilman Mike White’s words, not mine) has sat unfilled for nearly 17 years now. That $48,677 is money that goes straight into the pockets of the banks.
$48,337 was spent on “grants and other assistance to domestic organizations”. No idea what this is – perhaps the “Life Safety Grants” they are giving out? By my count that adds up to only about $26,000 right now. Could also be for Lampasas Higher Education. Will request details.
$57,938 was spent on “contracted services” with no further explanation (I am requesting details). No doubt Pope Eckermann is involved there.
$12,000 was spent on “Admin and overhead” as it is every year. This is essentially a fee to the City for the use of their accountant, etc, as far as I can tell.
$121,979 on “other – program service expense” (Schedule O). I assume this is the cash they handed out during Covid to many undeserving “businesses’ like Wool & Vine. I’m looking into details there also – last I heard they were reimbursed by the Feds for that.