Lexington Council Gets Finance Update
Lexington city officials are keeping a close eye on tax revenues coming in to support local government. Finance Commissioner Bill Omara last week offered council committee members a six month update on the current fiscal year.
He admits, despite low unemployment in the city, payroll withholdings, the urban county government’s largest source of revenue, are coming in sluggishly.
“We are under budget through December in that category and so it is a point to monitor and for us to watch to see whether we need to make any budget adjustments in the second half of the year,” he said.
Council Budget Committee Member Richard Moloney expressed some concern about higher-than-expected personnel costs and lower-than-expected revenues.