City treasurer's financial update includes history, reality and potentials    

[JULY 24, 2006]  Lincoln City Treasurer Les Plotner presented the council a past and future comparative of city's finances. In general, the picture looks good. A comparative of the first two months of last fiscal year to this fiscal year showed all areas of revenue increasing except non-home-rule tax, which is down 4.38 percent.

The telecommunications tax showed a huge increase of 109.65 percent, but "that's going to level out," Plotner said. There was a percentage increase that boosted that figure.

Comparatives for the first two months of last fiscal year and this fiscal year:

Sales tax

• 2005-2006: $312,911

• 2006-2007: $323,529

Use tax

• 2005-2006: $27,501

• 2006-2007: $29,364

Use and sales taxes combined

• 2005-2006: $340,412

• 2006-2007: $352,893

• Up $12,481, or 3.66 percent

Non-home-rule tax

• 2005-2006: $100,352

• 2006-2007: $95,953

• Down $4,399, or 4.38 percent

Income tax

• 2005-2006: $264,074

• 2006-2007: $285,764

• Up $21,690, or 8.2 percent

Telecom tax

• 2005-2006: $41,087

• 2006-2007: $86,140

• Up $45,053, or 109.65 percent

Figures below provide a bigger picture of the past revenues:

Sales tax

• 2001-2002: $1,892,592

• 2002-2003: $1,912,363, up 1.05 percent

• 2003-2004: $1,912,657, no gain

• 2004-2005: $1,966,144, up 2.79 percent

• 2005-2006: $2,000,698, up 1.75 percent

Use tax

• 2001-2002: $156,353

• 2002-2003: $135,548, down 13.30 percent

• 2003-2004: $142,847, up 5.38 percent

• 2004-2005: $158,098, up 10.67 percent

• 2005-2006: $183,567, up 16.10 percent

Use and sales taxes combined

• Up $60,023, or up 2.82 percent

Telecom tax

• 2003-2004: $72,755

• 2004-2005: $171,447

• 2005-2006: $274,119

Non-home-rule tax

• 2003-2004: $47,211

• 2004-2005: $616,400

• 2005-2006: $641,186, up 4.02 percent

Income tax

• 2001-2002: $1,009,896

• 2002-2003: $1,009,946, no gain

• 2003-2004: $930,122, down 7.90 percent

• 2004-2005: $1,014, 214, up 9.04 percent

• 2005-2006: $1,167,120, up 15.07 percent

Included in the financial briefing were the general fund, bank and pension fund balances.

Plotner cautioned aldermen to not be deceived “and get a false sense of wealth,” by the nearly $5 million in the general fund. “The actual balance is somewhere around $363,000,” he said.

In addition, he pointed out that revenues would increase when Sysco starts coming in.

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