Cochise County expected to see 2.9% revenue increase for FY 2018/2019
Cochise County's regional economy is bouncing back after facing years of recession and income streams are ahead of predicted estimates.
The county's finance director Lynette Nowlan reported the good financial news to the county's board of supervisors at a budget workshop held a few months ago, according to a recent article from the Cochise County government.
Nowlan said the county is heading in the right direction per economic indicators such as property tax revenues, county sales tax and vehicle license tax.
The article states Nowlan believes the sales tax revenue along with vehicle license tax revenues shows a positive sign for the local economy. She is estimating a projected 2.7 percent increase for the county's fiscal year 2018/2019 with $1,415,693 in income.
Cochise County Administrator Ed Gilligan said the county's rise in income from property taxes is apparently due to an increase in home values.
Cochise County officials also said more efficient budgeting from county departments is also a contributing factor to the revenue increase. The article noted that most departments had spent only 65 percent of their total budget for the fiscal year, which ends next month
County officials do warn that although county revenue will increase, so will its costs for health insurance, pension funds and expenses to operate the new Southeastern Arizona Regional Communications Center.
Some of the proposed initiatives for the next fiscal year include $1.5 million for Bisbee Douglas International Airport improvements, $2 million for the Colonia de Salud complex expansion in Sierra Vista, and approximately $1.4 million for workforce development and pay increases.
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