Revenue uptick enough to keep WM officials at ease over budget numbers

Revenue uptick enough to keep WM officials at ease over budget numbers

2016 figures continue to outpace last year’s numbers

news@theeveningtimes.com

Any increase is better than a decrease.

West Memphis’ monthly A& P tax revenues increased in August compared to last year — technically. A chuckle spread around the room as Advertising and Promotions Commissioners heard the news of the slim margin of improvement. August performance increased a whole $117.36, according to City Treasurer Frank Martin.

“On your sales tax, we had an increase over last year,” said Martin. “We are up almost $55,000 year to date.” Expense controls appeared healthy as well. According to the Treasurer, at this point of the year spending is at 66 percent of the total annual budget, representing a good performance, as revenue exceeded the budget projection. Overall spending stood at 64.41 percent of the projected budget — a figure that Martin reported with no areas for concern.

“As of Aug. 31, revenue is over expenses $187,472,” said Martin. “Nothing stands out as extraordinary.”

The A& P tourism tax posted $135,409.80 this month over $135,292.44 last August, amounting to a .09 percent increase. While month to month marks were basically flat, year to date results were stronger, up 5.67 percent over last year while banking a $54,652 increase.

With $424,000 in cash in the bank and another $1.276 million invested in C.D.s, A& P Commissioners put several spending projects under consideration during the September meeting.

By John Rech