Budget reflects shrinking revenue
As anticipated, county supervisors will consider a budget for fiscal year 2012 that reflects declining revenues from property taxes, licenses and commissions, fines and forfeitures, federal sources and state sources, including anticipated gaming tax revenue. Also, Tunica County’s beginning cash balance has declined from $2.2 million a year ago to $819,921 going into FY 2012.
Revenues into the general fund are expected to decline from approximately $34.5 million to about $30.7 million for the coming year.
Most proposed general fund expenditures are projected to decline correspondingly. For example, funds for maintenance of buildings and grounds are proposed at $730,163, down from $923,905 in last year’s budget. Slightly over $2 million is proposed for parks and recreation, down from $2.6 million in FY 2011.
A Forever Home
Financial woes widespread
Citing steadily declining revenues, casino representatives asked the board of supervisors for a break on local taxes at the county’s Aug. 15 meeting.
Jerry Sanders, representing Harrah’s Entertainment, said that the downturn began four years ago.
“In 2011, it’s not trending any better,” Sanders said.
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