The Faulkner County Budget and Finance Committee convened on January 1, 2025, to discuss financial updates and proposed ordinances for the upcoming year. The meeting began with Treasurer Mr. Sanson presenting the financial report, highlighting a total federal justice sales tax collection of approximately $1 billion. He noted that the county's tax revenue is projected to reach around $14.5 million, which is 98% of the previous year's revenue.
Mr. Sanson indicated that the county is currently experiencing a 6% increase in year-to-date tax collections compared to the same period last year. However, he cautioned that sales tax revenue may see a downturn in the coming months, particularly due to economic factors affecting the region.
Following the financial report, the committee moved on to new business, discussing proposed ordinance 24-54. This ordinance includes a $500,000 appropriation from the 911 fund, aimed at supporting the Public Safety Answering Point (PSAP) consolidation with the City of Conway. The ordinance was unanimously approved to be forwarded to the full court for further consideration.
The committee then addressed ordinance 24-55, which had recently been reviewed in a personnel meeting. After confirming there were no additional questions, this ordinance was also passed to the full court without opposition.
The meeting concluded with expressions of gratitude for the committee members' service and a reminder of the importance of the financial decisions being made for the community. The Budget and Finance Committee adjourned, having successfully advanced two key ordinances for further discussion.