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Anchorage budget office says revenues roughly on target as some tax streams fall short
Summary
Deputy Treasurer Lauren Crawford told the Dec. 18 Budget & Finance Committee that overall revenues finish the year roughly 1% above projections, while tobacco, alcohol and marijuana receipts may fall short (alcohol and marijuana potentially up to ~10%). OMB projects the municipality will end the year under budget by a few percentage points and will pursue a first-quarter review including an overtime analysis.
Deputy Treasurer Lauren Crawford said the municipality's revenues are "within 1% and and over 1% actually where we should be for the year," while flagging that tobacco receipts are coming in below expectations and that alcohol and marijuana tax receipts may be as much as about 10% below the original budget projections.
The Office of Management and Budget director, Ona Brause, told the committee the municipality is generally underspent: year-to-date reports showed roughly a 6% underspend in some rollups with an overall forecast to end the year about 2'% to 3% under budget. Brause said labor spending is at about 90% of budget and non-labor is about 10% underspent, and that staff will reconcile year-end transfers and invoices before…
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