Tax, business license revenue estimates are staying ahead of
projection
The City of Hollister’s quarterly budget report presented this
week to the city council showed that revenues and operating
expenditures are on target as the fiscal year enters its final
three months.
With 75 percent of the year complete, the report shows that
General Fund estimated revenue is at 73 percent of projects and
expenditures are at 74 percent.
Tax, business license revenue estimates are staying ahead of projection
The City of Hollister’s quarterly budget report presented this week to the city council showed that revenues and operating expenditures are on target as the fiscal year enters its final three months.
With 75 percent of the year complete, the report shows that General Fund estimated revenue is at 73 percent of projects and expenditures are at 74 percent.
Year-to-date sales tax revenue continues to come in higher than expected, according to the report, primarily due to high gasoline prices.
“The results reflect a slight stabilization in the local, state and national economy,” the report stated. “Sales volume in most major (categories) has shown some stabilization.”
Property tax revenues are expected to meet the city’s projection and the fee Hollister receives from local waste disposal companies continues to come in above projections.
Building permit revenues, one of the signs of business and economic activity, were also ahead of the city’s projections for the quarter and operating and staffing costs were on target.
