Carson City met its revenue targets for the first quarter of this fiscal year that started July 1, officials said Thursday.
With auto and gasoline sales continuing to hold strong in the city, revenues came in at exactly 25 percent of the total year's budget. Sales tax income for the first three months of the fiscal year was slightly above what was expected. The city received 28 percent of the total expected yearly income in the first quarter.
Expenditures are down slightly to 24 percent.
"It's early in the year, but most of our major revenue categories are at or above budget sights, so to date we're optimistic we'll make our fiscal year 2004 projections," said acting Finance Director Tom Minton.
Minton will update the city's Board of Supervisors at their regular meeting Thursday.
State numbers show automobile and gasoline sales dropped slightly in August but held strong at 5.5 percent above what the city earned last year in the same time period. Auto and gas sales now make up 35 percent of the city's total sales tax revenue income. General merchandise sales account for 11 percent, while restaurants and building materials both earn 8 percent and home furnishings take in 4 percent.
Though sales tax receipts have decreased overall from last year, the city is receiving slightly more sales tax revenue than officials forecasted. Still, the city received $191,000 fewer revenues during the first quarter than what was received last year, Minton said.
Other city income was meeting goals in the first quarter. Water user fees received 32 percent of its yearly income. Sewer user fees met first quarter goals and ambulance operating revenue reached 24 percent of what was expected to be earned in the fiscal year. Building permits earned $507,000, or 30 percent of their yearly expected earnings.
Cemetery earnings were lower than anticipated, earning only 22 percent of its annual take.
