City's Mid-Year Budget Review: Revenue Forecast Positive

Communications Director

Kristin Farley
[email protected]
(865) 215-2589

400 Main St., Room 691
Knoxville, TN 37902

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City's Mid-Year Budget Review: Revenue Forecast Positive

Posted: 02/05/2016
Budget Retreat 2016At today’s annual budget retreat at the Knoxville Convention Center, Mayor Madeline Rogero and her staff presented updates to City Council, including a review of the mid-year budget and status reports on major City initiatives.

Finance Director Jim York reported that the City’s revenue forecast is generally positive. Local option sales tax receipts and state shared sales tax revenues are healthy and expected to exceed the budget for the 2015-16 fiscal year, which ends June 30. But the growth has been smaller for real property and personal property assessed values. Business tax collections have been relatively static.

Mayor Rogero and Deputies to the Mayor Christi Branscom and Bill Lyons provided departmental highlights from the past calendar year, and the Council and Administration discussed a number of City initiatives and capital projects during today’s retreat.

Visit www.knoxvilletn.gov/budget for documents from today’s retreat, including a financial update report and a presentation on the City’s goals and achievements.