Lower Shreveport Sales tax revenue curb spending
SHREVEPORT, La. (AP) — A downturn in projected sales tax revenue is putting the brakes on spending for the city of Shreveport.
Although residents won't feel the pinch in their day-to-day lives, The Times reports (http://bit.ly/NcJBC2) city departments may have to make do with what they have for the time being.
City Assistant Chief Administrative Officer Brian Crawford says the city was projecting a 3.5 percent increase in sales tax revenue based on an upward trend in spending. Sales tax revenue funds nearly half the city's operating budget.
But with slowed compressed natural gas operations, sales tax revenue are down 2.2 percent, or about $1.34 million. If the trend continues through the end of the year, Crawford says the city will not receive about $6.5 million it was anticipating.
Information from: The Times, http://www.shreveporttimes.com