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Hendersonville reports stronger sales- and hotel-motel-tax receipts; stormwater revenues steady though reserves prompt discussion
Summary
Staff reported state-shared and local-option sales tax and hotel/motel receipts are coming in stronger than last year and projected to exceed budgeted amounts; stormwater receipts are steady and staff noted additional delinquent collections and grant support may allow keeping the stormwater fee flat for now despite reserve targets.
City staff told the Finance Committee that state-shared sales taxes, local-option sales tax and hotel/motel receipts are trending above last year and may exceed the amounts budgeted for the current fiscal year.
The presenter said August figures are trending higher than the prior year and that an initial estimate for a local-option remittance was "just a hair over $1,900,000." Staff cautioned the estimate is preliminary until the county completes its allocations. The…
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