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County reports sales tax shortfall through March; approves year-end cleanup appropriation and notes $24M fund balance increase
Summary
Finance officials reported sales tax receipts were below projections through March and the committee approved a year-end cleanup supplemental appropriation (Request No. 094). Officials also said the county's total fund balance increased by $24 million to $307 million, with $184 million unassigned (unaudited figures).
Orange County finance staff reported that sales tax receipts through March were below projections and the committee approved a year-end cleanup supplemental appropriation.
Carrie Gallagher, Commissioner of Finance, and Deputy Commissioner Andrea Buchanan reported that March sales tax was about 2.5% (approximately $521,000) below projected revenue for the month; year-to-date figures were about 1.88% (approximately $588,000)…
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