MC Projecting 1.6 Million Dollar Deficit For '08-'09 (More tax increases on the way?)

"...Missouri City’s fund balance reduced from $9.10 million in 2007 to $8.30 million in 2008 and the current year’s estimated fund balance is $6.69 million.

Missouri City anticipates sales tax revenue of $5.78 million this year, against the original projection of $6.25 million. The city received $5.45 million and $5.58 million in sales tax revenue in the past two years, according to Finance Director Wes Vela.

Missouri City had total revenues of $28.46 million in 2007 and the expenditures were $28.12 million, resulting in a $345,000 surplus.

In 2008, the revenues totaled 29.8 million and expenditures $30.62 million, with a $783,000 deficit.

In the current year, the deficit is likely to be $1.6 million as the estimated revenues are $32.47 million and expenditures $34.11 million..." Fort Bend Independent