Okay, we blogged about this in the past, overstating sales tax revenue. Isn't that what got the town in trouble in 2009?
While to some degree anticipated revenue is always a guessing game, given the state of the economy, guesses should probably be more on the conservative side.
According to the 2011 Tentative Budget, $4,999,102 of anticipated 2011 sales tax revenue is being budgeted to offset 2011 expenditures.
So we contacted Oneida County to get updated sales tax figures for 2009 and 2010 through the 2nd quarter of the year. Then, we created a spreadsheet using the information we received (Click here for a pdf version with larger print.):
What are they thinking? Actual sales tax revenue hasn't totalled $5,000,000 since 2006; in 2006 the town received $5,005,741.46 in actual sales tax revenue!
We're not finished with the sales tax saga...stay tuned!