Roanokers got the munchies in September per the Director of Finance Ann Shawver. What was a declining tax revenue at the end of the first two months (July and August combined) may have been a “bottom in the market” as Wall Street pundits like to say.
We are a fickle bunch in the Roanoke Valley – you just never know what we might do and why we do it. What happened in September that increased the meals tax 2.6% over September 2009? (If wasn’t me with my freelance writing check I can promise you that!)
The bottom line is that we have progressed from a deficit to a surplus in expected meals tax revenue compared to 2009. Three months into the fiscal year has not only increased the overall meals tax by .5 percent but the school’s portion from the temporary 2 percent meals tax increase is going gangbusters.
Roanoke City Public Schools share stands officially at $1,110,016. This is $35,834 more then projected for the first three months of fiscal year 2011.