KETR Local
8:06 am
Wed June 16, 2010

Sales Tax revenue down 24% for Commerce

Commerce – The City of Commerce sales tax revenue is down 24% over this time last year. Interim City Manager Marc Clayton reported to the city council in regular session last night that an audit correction for a tax-paying entity in Commerce showed $22,000 in sales tax had been overpaid and tax rolls would be adjusted accordingly, which could mean as much as a $47,000 deficit by the end of the year.

In other action, the Council received the 2009 audit for review and will discuss the audit at the July 6th meeting; and also approved an economic development incentive agreement with Cornerstone Development.

In the City Manager's report, the council was informed that Commerce was approved for the Safe Routes to School program which means $434,000 in federal money to help make walking and bicycling to school a safe choice. And the city pool will open next Tuesday at 1pm now that a leak has been repaired