Lexington Increased Revenue Mystery
Unlike the state, the city of Lexington experienced increased revenues in January, the Herald-Leader reports:
The city collected $16 million in total revenue in January, up $229,000, or 1.5 percent, over January 2008. Through the first seven months of the fiscal year, the city has collected $150.4 million in total revenue, up $5.3 million, or 3.6 percent, over this time last year.
So, are payroll taxes still going strong?
The biggest drop last month came in the payroll tax category, Fister said.
The payroll tax brought in $2.1 million less in January than it did in January 2008, Fister said.
About $1.3 million of that decline is due to timing issues, but that leaves a decline of about $850,000 from January of this year to January 2008, Fister said.
Ok, what about licenses and permits?
In January, $8.9 million was collected in the licenses and permits category, a decrease of $3.1 million, or 26 percent, over the same time period last year.
Well...
Collections in the licenses and permits category -- the city's largest area, which includes payroll tax, business net profit tax, insurance premium fees and franchise fees -- is down $1.2 million year-to-date for the fiscal year, which ends June 30, said Mary Fister, the city's director of accounting.
Payroll taxes are down $2.1 million. Licenses and permits are down $3.1 million. The category including these $5.2 million in decreases is only down $1.2 million, and overall revenues are up $229,000.
There's no other information. If you look at the html address for the article http://bluegrasspolitics.bloginky.com/2009/02/24/lexingtons-january-revenues-decline/, it apparently was once titled "Lexington's January Revenues Decline". It seems our reporter was disappointed.
