Clinton among the fotunate few with strong pension fund
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CLINTON — While most areas of the city’s finances remain pretty solid, commissioner of accounts and finances Tom Edmunds reported Monday the state was about to take another bite out of what it sends Clinton’s way.
“The General Assembly finished their session, and, of course, continued to rob municipalities of part of our tax money,” Edmunds told other city council members. “Just as they have on the personal property replacement tax.”
Edmunds said the state allocated a portion of that tax revenue normally going to cities to “some other government entities, mostly junior colleges.”
However, the level of other taxes, such as state income tax, use taxes and others, going to municipalities remained the same, Edmunds said.
“They didn’t give any of our money away there, so that was good news.”
The General Assembly passed a $42.3 billion budget last week.
• Read the full story in the Friday, June 11 print edition of the Clinton Journal or now in the Journal E-Edition for subscribers.
