City approves 2010 figures, gears up for next year
As the year comes to an end, the City of St. Robert has approved its 2010 budget and geared up for the 2011 budget.
The St. Robert Board of Alderman approved both the 2010 budget and the projected 2011 budget at its regular meeting Monday night.
St. Robert City Administrator Alan Clark said the city is projected to have a year-end budget savings of more than $394,000.
“A big majority of that is street funds, which we are able to rollover into the street fund account, which is going to give us a greater ability to finance some very significant road improvements for this coming year,” Clark said.
Clark said the city had a general sales tax revenue of more than $2.2 million for the period from Jan. 1 to Oct. 31. Clark said this reflected an increase of 2 percent from the same period in 2009.
Clark said, for reportable taxable sales, the city brought in more than $226 million in 2010, averaging out to more than $18 million reportable taxable sales per month.
“That, once again, substantiates the City of St. Robert being the commercial hub for the county,” Clark said. “We generate 62 percent of the revenues for the county and we have, at this point in time, we have 22 percent of the commercial businesses in the county.”
For the 2011 budget, Clark said the city is estimating a 5 percent growth rate, or more than $2.2 million, in general sales tax revenues.
Clark said there are no projected increases in electricity costs or natural gas costs for the 2011 budget year.
The city has projected more than $5 million in general revenues and more than $5 million in street fund revenues for 2011.
Clark said the city is anticipating three new restaurant developments, two new retail developments, two new convenience stores and one new hotel in 2011, some of which will be part of the Liberty Commons Tax Increment Finance Redevelopment plan approved by the board earlier this month.