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Sales tax helps town keep budget balanced
From Silverton Standard, the place where you can write!
Posted on December 21 2012, 10:19am by Mark Esper in Local News category
 
The 2013 budget approved by the Silverton Town Council last week includes $30,850 for an administrative intern to work on projects such as downtown revitalization, and $14,000 for salary increases for town employees.
In his budget message, Town Administrator Jason Wells said that town employees who have worked more than three years but have not seen increases in base pay during that period will receive 2 percent raises.
The Town of Silverton expects its total revenue to increase 11 percent next year, but the lion’s share of that is due to a $200,000 grant-funded project to upgrade some water lines.
The town’s 2013 budget, approved by the town trustees last week, projects $2,749,745 in income across nine funds.
Town officials are encouraged that sales tax income is up 4 percent compared to last year at this time.
The town expects to take in more than $687,000 in sales tax this year, and expects that to grow another 3 percent next year to nearly $708,000.
Sales tax provides about 45 percent of the town’s general fund revenue, with property taxes providing another 17 percent to general fund revenue projected next year at $1,576,029, excluding grants.
 

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