Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
May collections top $2.5M; sales tax up 8.6% for the period, finance director reports
Summary
Chancellor Miller, assistant finance director, reported the MEDC collected "more than $2,500,000" in May (mostly sales tax), cited an 8.6% increase for March-applied sales collections received in May, and outlined reported expenditures and year-to-date growth headed into budget season.
Chancellor Miller, assistant finance director, told the board that for the month of May the MEDC collected "more than $2,500,000," with the majority coming from sales tax revenue. Miller said the collections reflect an 8.6% increase for the period applied to March sales that were collected in May and that year-to-date growth stands at 5.1%.
Miller listed expenditures recorded for the month: $300,000 in operational expenses, $1,000 in project expenses (as recorded in the transcript), and $556,000 for non‑departmental items, the majority of which the speaker said was a monthly transfer for an INS payment the agency makes. Miller said the figures bode well heading into budget workshops with council in August.
