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Youngstown income tax was $2.4 million less than budgeted



Published: Mon, January 14, 2013 @ 7:30 p.m.

Youngstown income tax was $2.4 million less than budgeted

YOUNGSTOWN

The city’s income tax collections for 2012 were $2,428,300 less than budgeted, but city administration officials say Youngstown’s finances this year are in good shape.

The city received $42,471,700 in income tax for 2012. The projected collection amount was $44.9 million. That’s a 5.4 percent decline.

“It’s a projection,” city Finance Director David Bozanich said about what they had expected to collect.

The collection amount was also less than the $43,948,900 the city received in income tax in 2011.

Projections in previous years have also been off.

The projected collection amount in 2011 was $41,750,000. The city received more than $2 million over that estimate.

Bozanich said his office is reviewing income tax amounts it received for employees of various companies in Youngstown to see what caused the decline.

Income tax is the single largest source of revenue for the city.


Comments

1gdog4766(1465 comments)posted 1 year, 7 months ago

First thing, cut the mayor, city council and the whole administrations pay immediately. Then take away take home cars, cellphones, city issued credit,cards and stop all city paid travel for a start. Argue against that.

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2zz3(931 comments)posted 1 year, 7 months ago

Agree gdog, but they learn it from the top in politics look at the president and his trip/vacations etc and were broke as a nation also. City counsil is a total waste of good money and health benefits, Clark-Browns vacations (a.k.a. meetings) in Vegas etc.. alone can pay to put boots on the street here to slow down some of the cockroach take over. Also agree 'Over projecting revenue", this guy along with the Transit Authority need to go. No (poor)performance... No job! Easy as that.

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