City Budget Remains On Track
Things are looking good for the city budget, which saw an increase in its sales tax numbers after an especially promising third quarter last year.
The city recently received its second quarter sales tax payment of $1,428,000 from the state, which so far has Jamestown on track for its 2013 budget.
“Our sales tax payments so far have been almost identical to where we were in 2012,” said Joe Bellitto, city comptroller. “Our payment this quarter was $1,428,000, a slight decrease of around $17,000, or a little over 1 percent below the same quarter last year.”
According to Bellitto, the city’s sales tax budget for 2013 is $5,775,000 and so far the city has received about 48 percent of that amount from the first two quarters of payments. In total, there has been a small increase, about .5 percent, from the first two quarters of last year.
“Like I said, we’re almost identical to where we were last year,” Bellitto said. “Our budget was just $25,000 less for 2012 than it is for 2013. What that means, based on where we are, is that we need our third and fourth quarters to come in almost exactly where they did last year.”
The city will need to receive at least 99 percent of the same payments that it received last year for the final two quarters in order to make budget. The third quarter payment is scheduled for Nov. 1.
“We’ll need some good third and fourth quarter numbers to be where we want to be,” said Tony Dolce, R-Ward 2. “Last year we had outstanding third and fourth quarters, so hopefully we’ll see the same this year.”