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Farmington revenues outdo expectations
Sep 20, 2013 | 1138 views | 0 0 comments | 23 23 recommendations | email to a friend | print
FARMINGTON — Due to an increase in sales tax revenues, building permit fees and funds collected through utility company bills, Farmington’s revenues for the 2012-2013 fiscal year have exceeded the approved budget by about $700,000.

The numbers are not yet official, assistant city manager Keith Johnson told the City Council on Tuesday night. If approved, the figures mean that the city is in violation of a state law that governs how much money it can save in the general fund.

“I’d rather be up than the other way around,” Johnson said.

The boost in sales taxes and building permits is largely due to activity at the Station Park shopping center, but Lagoon is still the biggest generator of the taxes.

In 2010, the city got $1.3 million in sales tax revenues. In 2012, it got more than $2 million.

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