Quote:
Originally Posted by mugofbeer
Jan. 2009 tax collections were right at $8 million for MAPS for Kids. That works out to a $96 million dollar annual collection. Monthly tax receipts during M4K rose steadily. Yes, in this bad economy, tax collections would be down, but as the economy recovers and as the anticipated inflation kicks in, tax collections should end up well above the $100 million annual mark. Whether this will be enough to cover inflation in construction costs is another issue but simple budgetary analysis of where they were in M4K tells you that $100 million is a very reasonable projection.
|
Mug, regarding your numbers. Without varification by going back through the budgets, or the C.M. tax reports, I'll take your word for it. I have no reason to doubt your figures. However there were a couple of things that came to mind. This may, or may not matter, but Jan. 2009 is not in the current fiscal year. If you know off the top of your head what were the July numbers?
Also, I believe the C.M. has told the Department heads to submit a mid-year budget reduction of 2%. I also believe they were informed to plan on the cut to continue on into FY/10-11. So, if I'm correct, it appears as though the C.M. sees the next 12 to 18 months as somewhat gloomy. But who knows, which way things will go.