DG Budget Problem On One Page

Budget crunches can hit two ways; budgeted expenses come in higher than planned, and budgeted revenues come in lower than planned. DG has the unpleasant trend of both together.

One quarter into the fiscal year, Staff could see the trend, and raised the alert to council, outlining some steps they would initiate right away to shorten the gap.

You can read the entire monthly report, including the financial breakouts, here.

The 1% tax rate hike for the DG Telecommunication Tax has not yet kicked in on these reports. The local rate was 5% and is going to the maximum allowed by law 6%, same as many communities, That 1% rate hike is a 16.67% (oops) 20% increase in the local tax portion of your phone bills, anticipated to bring another $70,800 each month, or $850,000 into the coffers.

Click on image for a larger version.

Posted in budget. 3 Comments »

3 Responses to “DG Budget Problem On One Page”

  1. C. Grammich Says:

    Picky point . . . If I’m paying a 5 percent tax on a telecommunications bill of $100, then I’m paying $5 to the village, and if I’m paying a 6 percent tax on that same bill then I’m paying $6 to the village, right? So that’s a 20 percent increase in the telecommunication tax dollars I’m paying to the village, because (6-5)/5=0.2, right? Or am I missing something here?

  2. markthoman Says:

    Ummmm, maybe. LOL. No you;re absolutely correct. You’re missing that I always think margin instead of straight percentage, and I wrote this up while working. You sell something for $60 that cost $50, the $10 profit is at 16.67 point. 1-(5/6)=16.666. I’ll make the corrections.

  3. ламинат Says:

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