LIVE VIDEO: 10 News: First at 4:30 am    Watch
 

Newport leaders excited about extra sales tax revenue

5:25 PM, Feb 15, 2013   |    comments
  • Share
  • Print
  • - A A A +

Newport leaders are excited about signs that the economy continues to make gains at the local level.

City officials were surprised to find that sales tax collections came in 11 percent above budget projections last month. That amounts to an extra $36,000.

City leaders say they're excited about the extra money, but they aren't in a rush to spend it.

"The last thing that we want to do is not be frugal with our money. So we want to hopefully build up our rainy day fund and then also seek more ways to improve services for our citizens and invest in our city itself to get a better return on monies," said Scott Collins, the Newport city administrator.

Collin says sales tax revenues can drop just as easily as they rise, so the city will wait until the end of the fiscal year to see if there is still a budget surplus and then determine how to spend it.

Most Watched Videos