Town posts higher revenues

Special to the PRESS

Entering the final quarter of the fiscal year, the Town of Laguna Vista’s financial outlook appears in good condition with revenues at 97.79 percent and expenditures at 78.66 percent.

Town officials heard the financial report at their meeting Tuesday night from City Manager Rolando Vela.

For the first three quarters of the 2015-2016 fiscal year, the Town has collected $1.5 million in revenues, up from the $836,476 for the same period last year.

Expenditures at the end of the third quarter registered at $1.2 million, compared to $1.1 million last year, Vela said.

“We have already exceeded the budgeted amounts in the accounts of delinquent property tax penalties, interest, building permits, court fines, court bonds, court technology, lease agreements and police grants,” he said.

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