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County financial staff report sales-tax dip, outline debt and PAYGO tradeoffs
Summary
Finance staff reported year-to-date sales-tax receipts down about 6% after a large October decline, projected a 3.5–4% drop for the fiscal year, and warned the commission that issuing $58 million in debt would raise annual debt service roughly $5 million beginning FY27.
Buncombe County finance staff laid out recent sales-tax performance and how that revenue, along with bond proceeds, affects the capital fund used for schools.
Finance presenter Matt told commissioners the county saw a sharp one-month hit in October and that year-to-date collections were about 6% below the prior year. "We were down. We had a pretty sizable hit in October, which is where we collect a lot of our money... when something like 21% or 20% down in one month, it really has an impact on the rest of the year," Matt said. He said staff now project a 3.5% to 4% decline for…
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