Revenue Summary
Permits and Fees The FY2024-2025 Adopted Budget includes permit and fee revenue of $ 4.0 million an increase of $ 345,000 , or nine percent , over the FY2023-2024 Amended Budget . The Town continues to experience significant development activity . Year to date in 2024 , the Inspections Department has already conducted 13,935 inspections and has issued 693 permits .
Sales Taxes and Other Taxes The FY2024-2025 Adopted Budget includes sales and other tax revenue of $ 10.2 million an increase of $ 206,000 , or two percent , over the FY2023-2024 Amended Budget . Sales tax revenues are slowing down to single digit growth rates as inflation and interest rates continues to impact consumers .
Intergovernmental The FY2024-2025 Adopted Budget includes intergovernmental revenue of $ 3.5 million an increase of $ 110,000 , or three percent , over the FY2023-2024 Amended Budget .
Fees for Service The FY2024-2025 Adopted Budget includes fees for service revenue of $ 691,000 an increase of $ 9,000 , or one percent , over the FY2023-2024 Amended Budget . PRCR programming and events is showing steady increases post COVID-19 , but at a slower pace as the recovery process continues .
Interest Earnings The FY2024-2025 Adopted Budget includes interest earnings of $ 600,000 an increase of $ 200,000 , or 50 percent , over the FY2023-2024 Amended Budget . This is primarily due to revenue received due to current interest rates .
Other Revenue The FY2024-2025 Adopted Budget includes other revenue of $ 189,000 a decrease of $ 82,000 , or 30 percent , over the FY2023-2024 Amended Budget . Other revenues include insurance claim proceeds , county landfill reimbursement , and the PEG media cost share . The decrease is primarily due to decreases in county landfill reimbursements .
Other Financing Sources The FY2024-2025 Adopted Budget includes other financing sources of $ 7.8 million a decrease of $ 3.9 million , or 34 percent , over the FY2023-2024 Amended Budget . The decrease is due primarily to the use of one-time dollars to fund the pay and class study through funding additional debt and vehicle replacements with these funding sources .
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