Rockdale Municipal Development District Receives Clean Audit Report
ROCKDALE MUNICIPAL DEVELOPMENT DISTRICT RECEIVES CLEAN AUDIT REPORT
FY 2022 Ends with Higher Revenues, Larger Fund Balance and Net Position
(March 9, 2023) ROCKDALE, Texas – On Monday, February 27, 2023, the Rockdale Municipal Development District (RMDD) Board of Directors received an audit report for Fiscal Year 2022. RMDD Economic Development Director, Jim Gibson, explained to the Board that there were no audit findings or deficiencies – “The auditor, Don Allman from Georgetown, gave the RMDD a clean audit, the highest level of compliance we could receive.”
Revenues for the RMDD, which mostly come from the ½ cent sales tax levied within the District, increased by $128,600. Expenses were up from the prior year, mostly from personnel costs, projects and capital improvements, and building repairs. However, revenues exceeded expenditures by $233,400. This allowed the RMDD’s unreserved fund balance to grow to $648,500.
In FY 2022, the RMDD came in under its expense budget, mostly because some budgeted projects started in 2022 will be completed in FY 2023. In FY 2023, the RMDD will complete the site documentation project for a new industrial park, the community branding and marketing plan, and the new comprehensive plan.
The RMDD’s net position was able to increase by 28% or $226,000.
“These extra resources will be needed in the coming years to help fuel growth and development in Rockdale,” Gibson continued.
The RMDD audit will be presented at the March 13 City Council meeting for their approval. The audit report can be viewed by visiting the RMDD website at www.RockdaleMDD.org
