SPLOST revenue high in July, August
Published 5:58 pm Wednesday, October 4, 2017
Last week, the Troup County Board of Commissioners reviewed the Special Purpose Local Option Sales Tax revenue for July and August, which marked the first two months of a new fiscal year for the county.
So far, SPLOST revenue has been high for this budget year — which began in July — as well as the last six months overall which would seem to indicate economic growth in the county as a whole.
“We have been collecting on average 91 percent,” County Financial Officer Buddy Cashwell said. “The 100 percent goal is $70 million, and right now we are collecting at a rate of 91 percent, which puts us at $63.7 million. We have been budgeting all along for an expenditure of 85 percent, so we are comfortable where we are going to land, as far as we didn’t overspend.”
The SPLOST year that ran from July 2016 to June 2017 brought in 90.6 percent and the July 2015 to June 2016 SPLOST brought in 89.3 percent. For July and August 2017, $952,580 and $935,356 were collected successively.
“It is trending up (almost) every month,” Cashwell said. “It looks like the last 12 months, we were collecting at 92 percent. In the last six months, it is at 96 percent, so I feel confident that we will maintain that 91 percent average at least or a little bit higher. We are optimistic with Great Wolf and some other things coming along that that will go up or help to maintain that level.”
SPLOST funds are used for capital improvement projects like roads, bridges, parks and government facilities. They legally cannot be used for items like salary or benefits for employees.
County projects included on the upcoming SPLOST vote are renovations to a fire station on Hamilton Road, eight new fire trucks, public facilities at Pyne Road Park and renovations to several other recreation facilities.
The Troup County Board of Commissioners is scheduled to meet again on Oct. 12 at 9 a.m. at 100 Ridley Ave.