City sales tax revenue on track for budget

City Manager Kurt Fritch said that city sales tax revenue has not declined as much as portrayed in a story Tuesday.

A total of $1.32 million is projected from the one-cent city sales tax and $600,000 of that is listed in the 2009-10 General Fund budget. That will go for property tax relief.

But another $600,000 from the 1-cent sales tax revenue is also slated for infrastructure improvement, which was not included in the story.

City sales tax revenue for the 2008-09 budget is projected at $900,000 and that's on track so far, Fritsch said.

The half-cent tax will garner a total of $660,000, with half of that going to the city and the other half to the McCook Economic Development Corp.

The majority of the revenue the General Fund will receive will come from intergovernmental funds, such as grants and state revenue sharing, at $1,01,398.

Other revenue includes property taxes at $932,000; interfund transfers, $832,000; sales tax, $660,000; and other taxes, $737,000.

The total amount of income for the General Fund for 2009-10 is $7,020,807.

In another item, the change of a portion on East H to 25 mph will require two more readings.