
209:09 - 209:59
"our fund balance right now is one bad sales tax quarter away from having no funds to deal with our operating expenses, let alone a major natural disaster or other disaster."
“our fund balance right now is one bad sales tax quarter away from having no funds to deal with our operating expenses, let alone a major natural disaster or other disaster.”
And but our fund balance right now is one bad sales tax quarter away from having no funds to deal with our operating expenses, let alone a major natural disaster or other disaster. And we live in an uncertain world, and that's what our fund balance is for. Is to make sure we can weather that uncertainty that we expect. Um, and, uh, it's— now it's, you know, it's $400,000 less than it was when we— than I thought it was going to be when we started this conversation tonight. And so I can't entertain, um, increasing it even more, um, this evening.
The Assembly voted 6-3 to raise the vehicle sales tax cap from $14,300 to $50,000 after rejecting proposals to remove the cap entirely. The move is one of several revenue measures officials are weighing to close a $10 million to $12 million budget gap.
