City revenues, expenses surge in 2nd quarter report
Published 3:00 pm Wednesday, April 27, 2022
- Cullman City Council President Jenny Folsom opens public comments on the proposed updated zoning ordinance during a March 2020 meeting.
The City of Cullman is spending some significant money on a handful of public projects, but new quarterly financial numbers show it’s also making up at least some of the difference with a year-on-year uptick in tax revenues.
At its regular meeting this week, the Cullman City Council got a financial update reflecting tax revenues and spending for the fiscal year’s second quarter, which spanned the months of January through March. Led by a 13.6 percent increase in sales tax revenues, the city’s income is up over the same period in 2021 by a combined 7.2 percent, factoring in all municipal taxes ranging from internet, building permits, sales tax, and sanitation (on the high end) to property, gas, and rental taxes on the low end.
Of the 12 included revenue categories, three — court fines, beer and wine, and tobacco — all saw actual dips from their 2021 figures. Every other taxable revenue stream saw an increase, with internet taxes marking by far the largest surge at $466,144 from January through March — a year-on-year increase of 41.2 percent.
Overall, the city took in $25,783,841 in revenue during the second quarter compared to $24,045,434 for the same period last year. On the spending side, the numbers go much higher, though council president Jenny Folsom noted that the largest of the second-quarter expenses are absorbed into the larger annual budget, and were expected to occur early in the year.
The city spent an overall $25,469,859 during the three-month period compared with $19,847,254 for the same period in 2021, an increase of 28.3 percent. “Expenses have increased due to budgeted capital improvements,” said Folsom, citing construction projects at the Wild Water park, Nesmith Park, and West Main Avenue as big-ticket items, exacerbated by a rising inflation rate. “But so far, revenues continue to climb, and we’re appreciative of that.”
In other business at its regular meeting, the council:
- Authorized mayor Woody Jacobs to enter into a contract with the Growing Alabama Funding Agreement for the city’s receipt of state funds related to economic development projects.
- Approved a special event request from Keith Varden of the Cullman Area Chamber of Commerce to hold monthly 2nd Fridays street events along First Avenue on June 10, July 8, and August 12.
- Recognized departing waste water treatment plant manager Jeff Adams on his upcoming retirement.
- Recognized the members of the 2021-2022 Cullman High School basketball team and coaching staff in commemoration of their state 6A championship.
- Entered into an agreement with WEX, Inc. for fleet fuel card services.
Approved the minutes of its April 11 regular meeting.