At about $32.47 million, actual sales taxes through the end of the 2020 fiscal year were still down 3.2% from the budgeted target of more than $33.53 million. But during an April 7 budget work session, Budget Director Jennifer Barnette had projected sales tax revenue at just $30 million due to the impacts of the coronavirus, a decrease of more than 8.9%.
Over the 30-day period that began Feb. 27 and runs through March 26, the city and county are planning to issue a total of nearly $233 million in debt. With so much funding set to flow into local coffers, Xpress looked at what goes into a local government credit ratings and their influence on money management.
Minneapolis-based CliftonLarsonAllen conducted roughly 2,700 hours of work — over three times its original estimate of 885 hours — from July 1 through May 14, when CLA principal Bill Early presented the results to the Buncombe County Board of Commissioners.