City of Menifee Reports Another Increase in Sales Tax

The City of Menifee this week reported a continued sales tax revenue increase for 2012 and announced positive feedback regarding its annual financial accounting audit, the Comprehensive Annual Financial Report.

The city’s sales tax revenue increased 8.9 percent in the third quarter of 2012 over the third quarter of 2011, which keeps pace with the previously announced growing sales tax revenue base. According to a press release from the city, this increase can be partially attributed to new businesses and amenities coming to Menifee in 2012, including BJ’s Restaurant and Panera Bread.

"We are thrilled to see this continued increase in sales tax revenue for 2012," said Interim City Manager Rob Johnson. "We rely on these revenues to secure our financial stability as a young city and to provide funding for essential city services."

Sales tax revenue is one of the city’s primary sources of funding for important services such public safety, transportation projects, beautification, public works, parks and recreation. Sales tax revenue is reported by The HdL Companies, a government financial reporting company.

"We are very pleased with the outcome of our CAFR report audit," said Finance Director Terri Willoughby. "Our ‘clean’ opinion is a result of the finance team working very hard all year to maintain a high quality of accounting standards."

For more information, contact Finance Director Terri Willoughby at twilloughby@cityofmenifee.us.




0 Comments:

Post a Comment

Menifee 24/7 welcomes comments from readers in response to posts on our website and on our Facebook page. Comments on our website must be submitted through a Google account with the user's full name. No anonymous comments are allowed. On both the website and our Facebook page, use of profanity, personal attacks, statement as fact of things that have not been substantiated, or statements of a generally offensive tone are prohibited.

Loading