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.
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