CitCo reports increased revenue and belt tightening; no help from Government

Published by BBN Staff at March 11, 2020

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Posted: Wednesday, March 11, 2020. 11:13 am CST.

By Aaron Humes: Two years after it took office, the Belize City Council led by Mayor Bernard Wagner has reported increased revenue and tightened expenditures in light of the reduction on payments from Central Government.

Overall revenue rose 9 percent, fueled by increases in collection of property taxes, trade license fees and other key revenues.

It lost $1.3 million in direct subvention from Government and that goes to repay the municipal bond started by Darrell Bradley.

Mayor Wagner allowed himself to boast of cutting significant internal expenditure, leaving the Council with more cash on hand – $3 million – at the end of the 2018 financial year than the previous council at less than $900,000.

“This Council did the work early, we decided we didn’t want to do discounts,” Wagner said of the increase of property taxes in particular.

The Council’s audit was completed by Cedric D. Flowers and once approved by City Hall will be made publicly available.

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