Belen's gross receipt taxes leveling out to $450K
Money from gross receipts taxes to the city of Belen have leveled out after bouncing up and down, leaving city officials crossing their fingers to make ends meet.
This is thanks to a slight upturn in this year's economy, helping businesses give a collective sigh of relief, according the city's financial clerk.
"Since the economy has steadied out, not gotten better or worse, businesses know they can make it (financially) to the next month," said the city's Financial Clerk Roseann Peralta.
For the city's $4.8 million budget for the 2012-13 fiscal year, at least $402,000 is needed from GRTs to cover budgeted expenses.
Since June 2012, GRTs have been coming in at an average of $410,000, which is a change from two years ago, Peralta said.
Although the city needed only $375,000 from GRTs to make ends meet for the $4 million budget in 2011-12, the incoming GRTs were all over the place.
The GRTs fluctuated from $300,000 to $450,000 each month without giving any hint where they would come in the following month, Peralta said.
"We're at a better place now," she said.
-- Email the author at email@example.com.