Depot 303 Improves Cash Flow With Operating Changes
Depot 303 improved its cash flow this quarter after the City Redevelopment Agency approved changes to how the facility invoices labor expenses.
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Jonathan Bucklew, operations manager for Depot 303, presented the facility's second-quarter financial results to the City Redevelopment Agency on Tuesday, August 25.
Changes to the invoicing process for labor expenses improved the facility's cash flow, Bucklew said. The amendment to Depot 303's operating agreement streamlined how the facility processes financial transactions.
The CRA discussed the financial performance update under new business. Residents seeking details on the amendment can review the official meeting minutes.
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