Major sources of revenue up for City of Martin

Major sources of revenue up for City of Martin

Although the City of Martin’s formal board meeting was a brief one Monday evening, good news was heard by board members as city recorder Chris Mathis reported revenues were higher than in the previous year.
According to a comparison of revenue sources from July-December 2010 and July-December 2011, five areas – current year property taxes, prior year property taxes, local option sales tax, state shared sales tax and business licenses – boasted higher numbers.
In property taxes, $136,085 more than 2010 six-month totals were reported. The number jumped from $594,599 in 2010 to $730,684 in 2011.
Prior year property tax collections were at $42,218, up $12,458 from $29,760 in 2010. Local option sales tax figures show $847,026 in 2010 and $968,230 in 2011 for an increase of $121,204.
State shared sales tax numbers were $30,013 more than the previous year. The state shared sales tax in 2010 registered $345,339 and $375,352 in 2011.
Business licenses for 2011 were reported at $69,969, up $13,911 from the previous number of $56,058.
Martin Mayor Randy Brundige said the figures were raw numbers and did not reflect adjustments for inflation.
A splash pad proposal for Festival Park near the gazebo in downtown Martin will soon break ground with the acceptance of a bid received Friday. Board members approved a bid of $231,750 from Nsite of Milan. This is the same company that performed the work for the downtown renovation project last year.
The bid for the splash pad includes two additional spray heads for 20 percent more spray, a bigger pump and the addition of colored LED lighting.
Brundige said there is hope for a June completion date, but that is dependent upon weather conditions during the building process. The project is being paid for with a $100,000 grant; another $100,000 the city borrowed; $7,000 in the city pool fund; and a few thousand dollars in the friends of the park fund. The remaining $20,000 of the project would be decided at a later date.
The search for a community development director for Martin continues after Brundige announced he had yet to receive all of the aldermen’s top three choices by the start of the Monday meeting.

WCP 1.10.12

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