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Whitfield County financials: January LOST and TAVT collections fall short of budget and prior month
Summary
Comptroller James Garvin presented January 2023 financials showing LOST collections of $1,051,302 (5% below budget) and TAVT collections of $413,611 (up from December); YTD revenues slightly above projection while expenditures remained below projections.
Comptroller James Garvin presented the January 2023 financial statement to the Whitfield County Board of Commissioners on March 13, 2023; the Board approved the statement.
Key figures recorded in the minutes: Local Option Sales Tax (LOST) January collections totaled $1,051,302, 5% less than the budgeted $1,106,858 and 18.75% lower than December's $1,293,237. Year-to-date LOST collections of $1,051,302 were 0.75% below prior-year collections of $1,059,588 for the same period. Title Ad Valorem Tax (TAVT) January collections were $413,611, 17.75% greater than December's $351,141; YTD TAVT was 10% less than the prior year for the same timeframe.
The minutes state year-to-date actual revenues were $3,884,928, exceeding projected revenues of $3,844,770 by $40,158 (about 1%), while year-to-date actual expenditures were $4,331,368, below projected expenditures of $4,434,276 by $102,907 (about 2.25%). The Board approved the financial statement by a recorded vote of 4-0 (Thomas, Jones, Staten, Robbins).
What happens next: The county will continue routine financial monitoring and reporting; the minutes do not record additional financial actions beyond approval of the statement.