Jefferson
County Sales Tax Collections Down
Media Release
WATERTOWN, N.Y., July 10, 2009
—
Good Morning Folks,
Unfortunately, you may not think it is a good morning after I deliver the news of our sales tax collections to you.
Attached please find the spreadsheet that I keep on our collections and the very serious news that our
collections are down by 8.12% for the year and the second quarter was down 10.47% from last year.
In terms of dollars, we can conservatively estimate a budget shortfall (gap) from sales tax for this year of $2.2 million and aggressively estimate as
much as $3 million. This coupled with the fact that our interest income will fall short by estimate of $500,000 will leave us with a total gap of close
to $3 to $3.5 million conservatively.
It is time to respond and begin serious debate on how best to address this shortfall that would include budget cuts for the current year. We are no
doubt in a situation where fund balance is funding operations, which starts the time clock ticking. We may have to utilize some fund balance to make it
through this year, but that is not a recommended long term course of action.
Short of transferring this issue into a property tax increase next year we are faced with serious decisions to bring operations in line with revenue,
but the decisions will be difficult ones in order to provide a soft landing and minimize the impact on the taxpayer.
I would appreciate any thoughts you may have as we move forward in this process.
Scott Gray
County Legislator
Chart: Jefferson County Sales Tax
Collections
Official: Jefferson
County
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