February 25, 2014 1:38 PM
Rene Ray De La Cruz, Staff Writer
APPLE VALLEY • The Town Council will review its midyear budget report card during Tuesday’s meeting.
The town will look at its budgetary estimate figures through December, with a General Fund total of $24.6 million.
Estimated revenues for the period came in at nearly $19.4 million, with anticipated property tax values up nearly 3 percent for the next year.
Proposed adjustments at mid-year will increase the General Fund by $1.14 million.
The town experienced steady increases during 10 straight quarters, but the past three quarters have decreased, mainly due to “aberrations in reported sales collections,” coupled with leakage believed to be caused by the opening of new Wal-Marts in Hesperia and Victorville, according to town staff.
Construction of Apple Valley’s new Wal-Mart is expected to begin prior to June, which should noticeably stem sales leakage, the report stated.
Sales tax estimates are being adjusted downward by $600,000 to $5,225,000 for the remainder of fiscal year 2013-14.
The adopted budget also includes a slight revenue increase due to the passage of a general increase in town fees, which was projected to generate $170,000 in new revenue.
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