Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Tompkins County finance staff report slow sales tax growth, stronger casino and cannabis receipts; cash balances down
Summary
County finance staff told the Budget, Capital and Personnel Committee that sales tax growth in 2024 was modest, casino and cannabis receipts exceeded recent budgets, monthly interest earnings fell as cash balances declined and contingency reserves finished 2024 with an unspent balance.
Laurie Skerritt, Tompkins County director of finance, told the Budget, Capital and Personnel Committee on Feb. 13 that county sales-tax collections for 2024 were up 0.56% year‑over‑year and that the county’s share mirrored that increase.
Skerritt said the county is “up point 56%” year to year but noted the growth was the slowest annual rise since the COVID‑19 decline in 2020. She cited the New York State Comptroller’s summary that 2024 growth was “less than half of the average pre‑pandemic growth rate.”
Why it matters: Sales tax is a major revenue source for county operations and discretionary programs.…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
