New Budget Means New Funding Mechanism For Schools
The Putnam County Commission’s decision to use a percentage of sales tax revenue to fund schools a welcome revenue boost, according to School Board Member Kerry Ledbetter. The new county budget passed last week includes the change to a formula of 50 percent of sales tax revenue. Ledbetter said the change back will not only […]
Livingston Ready To Pass Budget Friday, Small Tax Hike
The public can sound off Friday as Livingston Aldermen consider the second reading of this year’s budget which includes employee raises and a nine-cent property tax increase. Mayor Curtis Hayes said budgeting this year has been tight. He said after conducting a pay study two years ago, employee compensation has become a greater focus. “You’ve […]
CRMC Budget Approved, 12 Percent Increase
Cookeville City Council approved Cookeville Regional’s fiscal year budget which includes some $7 million in positive net income. Cookeville Finance Director Brenda Imel said the budget projects a 12 percent increase in both revenue and expenses from its fiscal year 2023 projections. She said the budget includes some $14 million in expansion and innovation projects. […]
Heady And Other UC Mayors Asked Bill Lee For Recurring Funding
Jackson County Mayor Randy Heady among six Upper Cumberland Mayors who met with Governor Bill Lee to request recurring county funding. Heady said state government has always been open to offering the Upper Cumberland funding when available. He said he appreciates Lee advocating for rural communities, and long-term revenue commitment is another way for him […]
Clay Increasing Occupancy Tax After Advice From Consultants
Clay County will increase its hotel occupancy tax by 1.5 percent as the county searches for ways to maximize revenue. Clay County Mayor Dale Reagan said the tax was set at 2.5 percent in 2009. Reagan said he projects that the increase to four percent will generate an additional $70,000 a year for the county. […]
Livingston’s State-Shared Sales Tax Revenue Increases Over Last Year
Livingston’s allocation of state shared sales tax revenue exceeded $500,000 this year. Downtown Revitalization Member Ray Evans said it is a significant increase of 14 percent over last year and doubles the city’s average over the last six years. ‘To me, that says the investments that y’all have approved in the central business district are […]
Overton Budget Committee Reviews General Fund
The Overton County Budget Committee reviewed its proposed general fund budget line by line Tuesday night. Increased starting wages, more money for schools, and a new EMS assistant director position highlight the proposal. “We worked hard on this budget this year,” Committee Chair Darwin Clark said. “We cut it about as low as it could […]
Putnam Budget Committee Reviews Penny Rate And Revenue Estimates
Putnam County Penny Rate values projected to increase property tax revenues for the county and the school system of some $800,000 each. The rate is the amount of money generated by a penny on a county’s property tax rate. Mayor Randy Porter told the Budget Committee Thursday night that the county property assessor projects about […]
Putnam Mayor Estimates Year End Revenue To Come In Several Million Over Budget
Putnam County Mayor Randy Porter has estimated county revenue will come in some $9 million over projections. Porter said the county budgeted about $77.5 million for this fiscal year. With two months left, Porter anticipates the final number to be $86.7 million. “Most of that is the increase in sales tax revenue that we saw,” […]
Cookeville Sees Some $632K In Revenue For First Full Year Of Hotel-Motel Tax
Cookeville saw revenues of about $632,000 for its first full year of hotel-motel tax. City Manager James Mills said that the number is solid for a year in the pandemic. He said that the hotel-motel tax serves as a good revenue generator for both the city and county. “Here, we pushed the revenue in the […]
