The total income tax collections by the city of Portsmouth for 2016 was $2,698,141. On Monday, City Auditor Trent Williams released the latest figures that reflect the closing of the 2016 books.
“The books of 2016 have been closed and put away and we have started a new year,” Williams told City Council.
In his report, Williams said the total General Fund income tax collections for December were $865,128, which reflects an increase of $246,322 over 2015 for an accumulated total compared to last year of $2,615,175.
Total income tax collections for December were $983,310, up $255,303 over 2015 for an accumulated total compared to last year of $2,698,141.
Williams’ report showed the city had collected $195,432 from the newly established 0.5 percent income tax increase.
“If we did not have that new tax, we still would have been up $555,992 over last year,” Williams said. “But with the new tax we are up $2,698.”
The report included current major fund balances for 2016.
The only blight on the budget is the conspicuous deficit in the Sewer Fund. The total deficit in that fund for 2016 was $1,514,609 which is down $2,479,807 from 2015’s deficit of $965,198.
The General Fund stood at $1,548,549, which reflected an increase of $1,102,923 over 2015’s total of $445,626.
The Streets Fund ended at $306,614 which is $306,614 over 2015.
The Water Fund sits at $330,039, up $118,456 over the 2015 total of $211,583.
The Sanitation Fund ended 2016 at $509,936, which was down from $545,151 in 2015 by $35,215.
The Insurance Fund ended the year at $1,633,646, reflecting an increase of $1,106,141 over 2015’s total of $527,505.
Reach Frank Lewis at 740-353-3101, ext. 1928, or on Twitter @franklewis.
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