Hollis gives financial update

By Martin Couch

Listening to Bryant City Finance director Gary Hollis explain the numbers that balance the city's budget sheets[more] is amazing.

"For November, the general sales tax receipts were $832,000 with one month left to see what will come in," Hollis told the Finance and Personnel Committee on Tuesday night at City Hall.

"It's gradually increasing," he said. "We have been catching up on the deficit we started with at the first of the year and we are expecting it will come in on budget."

Last year, tax receipts were $10,030,000. In 2008, it was at $10,200,000 and 2007 was at $9,900,000.

"It's really tight as far as what our receipts are doing and staying in a little tight grouping," Hollis said. "The turnback tax is acting along with the graph and is pretty much following it. The courts are bouncing around, but staying true, the franchise fees are following the graph and budget and previous trends."

Property taxes stayed up showing growth in March, April and May.

"We usually get bigger receipts in November and December," Hollis said. "Everybody is pay in October and that is not remediated back until a bit later. We are on track with budget as far as receipts. We will finish the year quite good."

As far as sales tax, the total was down to $788,000, but trends are changing.

"I am expecting it to be well over $800,000," Hollis said. "Shopping is up and all the indicators are it should be following true to form. It should come in at or above budget by a few thousand dollars."

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