City revenue projections
City Manager Mitchell Johnson plans to hold some of the city's budget in reserve just in case revenue does not meet projections.
The move promoted Councilman Mike Barber to ask: exactly what are Greensboro’s revenue projections?
Finance Director Rick Lusk anticipates a slowdown in sales tax revenue and building inspection revenue this fiscal year.
The city predicated that the sales tax revenue would be $42.6 million this year. That's $1.4 more than last year. So far, collections around the state have matched -- not exceeded -- revenue from this same time last year. Greensboro will know more about the exact figures later this month, when they get the first sales tax receipts of the 2008-2009 fiscal year from the state.
As for the inspections, there have been fewer building inspections because there is less construction. The city anticipates a shortfall of $400,000 for inspection fees.
With the conservative moves the city has made so far this year, Johnson expects the city will have enough money to cover its expenses. But City Council members could push for more money-saving measures as the year rolls on.
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