Meets Expectations

Island revenues, expenditures within budget

Special to the PRESS

SPI Chief Financial Officer Rodrigo Gimenez presented a mid-year review of the City’s budget to Council Members in a workshop held prior to the regularly scheduled council meeting Wednesday, April 19. “Generally speaking, all the total annual revenues are expected to meet or exceed the budget, and the bottom line of the revenue at the fund level is expected to be in budget,” stated Gimenez. He also noted that total expenditures for the year are expected to be within budget, and explained that most departments have more than 50 percent of their funds available at this point. “The city tax rate continues to be the second lowest in Cameron County,” Gimenez said regarding the current $0.305640 per $100 valuation for the Island.

Regarding sales tax, Gimenez said he was a little concerned at the end of last year; however, year-to-date sales tax revenues have increased by 5.42 percent.

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