UNALASKA (AP) -- City coffers are growing despite a slump in local fishing.
The latest fiscal report from the city shows city fish tax revenues have increased. Both the onshore and offshore fish tax revenues are up $500,000 compared to last year. That adds up to a total of $5.6 million in fish tax revenues -- $2 million more that the city projected when it crafted its budget.
Sales tax revenues also are surging. The city collected nearly $1.7 million in the first five months of the fiscal year, an increase of about $300,000 from the same time last year.
The city often is conservative with its budget projections to brace against a fisheries crash or new regulations, said John Voss, the city finance director.
The growth in tax revenues, however, comes as a surprise.
When the budget was drawn up, a $500,000 decrease was expected in both of the fish taxes that the city shares with the state. That deficit was erased by high fish prices in the past year.
Peninsula Clarion © 2015. All Rights Reserved. | Contact Us