County sales tax receipts up for 2010

LAKE GEORGE - Warren County's final sales tax receipts for 2010 were tabulated and publicized Jan. 14, prompting local officials to say they were cautiously optimistic about an economic rebound.

Warren County collected $42,872,812 in sales tax for 2010, a 1.94 percent increase over 2009.

The news is particularly good, considering county officials had recently predicted a $1 million shortfall from the $43 million in receipts they had budgeted. With this final payment from the state for 2010, that gap had narrowed to $127,188.

County officials said the figures demonstrated both a solid holiday retail season and other not-so-cheery news: gas prices 60 cents or so higher than the prior year.

"We're pleased with this uptick for the fourth quarter," Budget Officer Kevin Geraghty said.

Receipts for the last three months of fiscal 2010 were up 5.4 percent over the same period in 2009, he said.

County Board of Supervisors Chairman Dan Stec also welcomed the news of the increase in revenue, although he too cautioned that much of it was due to soaring gasoline prices.

Geraghty said that the 2010 receipts bode well for the 2011 budget, as he and other county officials had counted on $42 million for this year. Any surplus, he said, would likely go into rebuilding the county's depleted financial reserves.

"We're cautiously optimistic we'll reach or surpass our $42 million goal," he said.

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