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Controller reports mixed revenue picture; cannabis receipts flagged and capital spending remains high
Summary
The county controller reported year‑to‑date sales tax receipts improved in March but remain down 3.9% year‑to‑date. Cannabis tax receipt allocations appear underpaid, occupancy tax accounting will require a reversing entry, interest earnings are tracking above budget, and capital spending hit record levels in 2024 with continued activity in 2025.
Ulster County’s controller briefed the Ways and Means Committee on May 15 with a report showing mixed near‑term revenue signals and active capital projects.
On sales tax, the county received March payments that were up 12.6% from the same month the prior year, but year‑to‑date sales tax receipts remained down about 3.9% versus the previous year. The controller said March’s stronger payment improved the year‑to‑date position after earlier months were weaker.
Cannabis tax receipts were highlighted as a “huge red flag.” For the first quarter of 2025 (Dec. 1–Feb. 29), the county received $96,760 from the state comptroller for adult‑use cannabis taxes. The controller said county staff reviewed Office of…
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