EDMOND — Edmond taxpayers would have to go back four years to find a budget larger than the $231.3 million budget proposed for the coming fiscal year.
City council members will hold a hearing on the proposed fiscal year budget and five-year financial plan at 9 a.m. Monday at 20 S Littler Ave. The hearing will continue Tuesday if more time is needed.
Edmond has used the multiyear financial plan for 17 years in an effort to determine any possible budget shortfalls.
City councilors approved a $255.6 million budget in fiscal year 2009-10, the year after the city and the nation suffered from an economic downturn.
“Edmond has been very fortunate to have much greater revenue (sales tax) growth this year than projected,” City Manager Larry Stevens wrote to the mayor and council members in a 14-page introduction to the proposed budget for 2013-2014.
For the first 11 months of the fiscal year, sales tax collections are 13.34 percent above last year, as compared to a 3 percent annual budget projection.
“We will almost certainly end the current fiscal year with a double-digit growth percentage,” Stevens said.
City officials said roof repairs from a summer hailstorm contributed to this year's sales tax revenue growth.
Continue reading this story on the...