TECUMSEH — The Tecumseh Downtown Development Authority is reporting a strong financial position heading into the spring construction season.
According to the January financial report, the Tecumseh DDA holds more than $509,000 in total assets, including more than $453,000 in cash management funds.
Liabilities are effectively zero, leaving the DDA with a total fund balance of just over $509,000.
Of that amount, nearly $396,000 is listed as unappropriated surplus, with additional funds designated for future projects and fixed assets.
Revenue performance is also tracking well. Tax increment financing collections are at more than 98 percent of the amended budget, and a $50,000 MEDC grant has been fully received.
Total revenues are at nearly 95% of budgeted projections.
The financial update was included in agenda materials for the February 12 meeting.
Officials are continuing work on parking lot reconstruction planning and Michigan Main Street implementation efforts as the year progresses.