Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Revenue Recognition topic
No spam. Unsubscribe anytime.
Board considers using supplemental motor-vehicle and delinquent-tax revenue to reduce mill-rate pressure
Summary
Board members debated recognizing some supplemental motor-vehicle and delinquent-tax revenue (in the $100K–$200K range) on the budget worksheet and using part of that revenue to lower the mill rate while reserving the rest for next year.
Get email alerts on the Revenue Recognition topic
No spam. Unsubscribe anytime.
Board members and staff discussed recognizing supplemental motor-vehicle revenue and delinquent-tax collections on this year’s worksheet to reduce the immediate mill-rate pressure. Agency official (S3) reported historical delinquent-collection figures and suggested budgeting $100,000 for motor-vehicle supplements and another $100,000 for delinquent and interest revenue as reasonable projections.
"Last year, I collected $148,000 in delinquent taxes," the agency official (S3) said when asked about historical collections. Members cautioned that recognizing one-time or variable revenue to reduce the mill rate can create the need to "catch up" next year, so they proposed applying only a portion of recognized revenue to lower the rate and reserving the remainder to stabilize future budgets.

