1990/10/17 Council Minutes - Laserfiche WebLink

I", 419 , 4 I October 17,1990 Sales tax collections for 1990 may exceed budgeted figures by as much as 9% and would represent growth over 1989 growth of approximately 15%. For 1991[x look for moderate antl have projected a .5%increase over 1990. We project that 1990 business and occupation tax revenues will exceed 1989 business and occupation tax revenues by 9%. We have projected growth of 7.5%in 1991 due to continued strengthinthe industry along with o planstostep therev vet oP aerospace,accountst- app g S .taxes being paid. in 1990,we plan t ti settingaside reserve portion f business a nd occupation tax into capitalae r fund ratheruse than it for operations. I we have butlgetetl 5.5%growth in all other revenue sources ver the 1990 pxo0ect3ons whicM1 eye.[pita tly In line with th 199 budget. We look for ,paint increases i state shared over 1990 ,6 i because of some significant changes in the ratestructure for gasg IY taxes and the Motor Vehicle Excise Tax. Using state pros ecti nsoand guidelines published by the Municipal Research Center, w a (p 11 40%increase in state, hared rev nee in 1991. r fit 1991 will be an exciting year a for Everett. We have much to be thankful for. I ask for your support in making this budget a reality. lid 0111 C h ,.Fin Di t , h tl tl t copies mi the 1991 Budget 1 �' Finance4 xy a tl P g D scrip tions to councilmembexs. "I 1.I{ gg� o thatnt Pabi 1 ES t tl a oultl like to stay math the scheduling so that the butlget beapproved by November 14,1990. Councilmen Gipso C itl cilmembexs if they had any puestions {+ fk regarding budget items they shoulO speak with him. T f Upon motion the meeting atljournetl at 8:15 p.m. 1' ,�/ ��/ I'1 City c k f IIIM I Read and approved as printed. /� t !+I a � 11.