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Budget Update

Posted on 29th April 2011 at 08:22

Budget managers for the City of Longview say that there are still some challenges ahead, but they also say that it looks like the revenue picture is starting to brighten. City Finance Director Kurt Sacha says that the numbers show that the local economy is starting to pick up. Sacha says property tax revenues were up about five percent in 2010. He says sales tax receipts for last year came in about $274,000 over what was budgeted, the first sales tax increase registered since 2007. B-and-O taxes were also up from 2009. Overall, the city had budgeted for $29,347,000 in revenues in 2010, but actually received $30,314,000, an increase of more than five percent. Expenditures were also below what had been budgeted. Sacha says this year’s tax receipts are also above last year, but they’re being cautious, as the city still has a number of challenges, first and foremost being rising fuel prices. He says that will have an impact on how people spend, affecting sales tax income, and will also cost the city more to keep its fleet running. Shared state revenues are also expected to be less, and he says that the city is getting to the point where they really need to get some more land sold at the Mint Farm, to be able to keep up with debt service payments.