Commissioners Court Meeting
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Meeting Date:
03/13/2023
Establish New Custodial Fund and Bank Account for TIRZ #2 (The Coves at Winfield Development)
Submitted for:
Angelica Morales
Submitted By:
Angelica Morales
Department:
Auditor
Subject:
Discussion and possible action to establish a new custodial fund for Tax Increment Reinvestment Zone (TIRZ) #2
(The Coves at Winfield Development) and the creation of related bank account.
Issue:
A new custodial fund is required to properly allocate the distribution of receipts for Tax Increment Reinvestment Zone (TIRZ) #2
(The Coves at Winfield Development).
Solution:
Establish a separate custodial fund and bank account to recognize the 40% attributable to Tax Increment Reinvestment Zone (TIRZ) #2
(The Coves at Winfield Development).
Result:
Proper recording of receipts from Tax Increment Reinvestment Zone (TIRZ) #2
(The Coves at Winfield Development).
Background:
n/a
Previous Court Action:
n/a
Fiscal Impact
Budget Account Number:
n/a
Funding Source:
n/a
Balance:
n/a
Financial Impact:
n/a
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