City Revenues Up; Alcohol-Related Sales Impact

By HBTV
Sunday, November 28, 2010 | 10:11 AM
https://hbtv.us/news/?story_id=539

The City of Haleyville has more money in the bank as a result of alcohol sales that began in late September.

Sales tax revenue for the city was up 1.4% this October over the same period last year. When you add the approximately $13K of alcohol-related income, that change climbs to 11%. That 11% climb is significant considering that real GDP grew at 2.5% for the quarter ending September 30.

Sales tax and alcohol-related revenue for October were just over $148,000.

Other financial news that may indicate the local economy is turning around is the change in total taxes and fees for the city from FY08 to FY09 (that period ended September 30, 2010). That income grew by 3.7%, the first growth since FY06.