Tuesday, August 9, 2011

Eat for Education program exceeds goal for the year

Roanoke City’s assistant director of finance, John Bingham said, “’There is good news in that the funding for schools from the additional 2% meals tax increase amounted to $4,580,251 for the year. This was $197,109 or 4.5% better than anticipated in the adopted budget of $4,383,142.”

The rate was increased from five percent in 2010 to seven percent for fiscal year 2011 and 2012. Roanoke City Public Schools was reeling from state budget cuts and a downturn in city revenue. To allow RCPS to adjust for the sudden loss of funding a two percent increase in the meals tax was approved by Roanoke City Council in 2010. The tax will “sunset” beginning in fiscal year 2013.

Adjusting for an equal yearly comparison of meals tax revenue fiscal year 2011 ended with a 2.6 percent increase over fiscal year 2010.

Posted By Valerie Garner

Categories: Education, Finance, Roanoke City Public Schools

Tags: ,

Comments (2)

Jack Mcguire

August 10th, 2011 at 1:48 PM    

That’s 4,580,251 could have gone into the hands of struggling buisnesses in the area. Instead it was put into the hands of wasteful government. Wonder how many visitors were shocked at the 12% tax they were charged for the crime of dining out in Roanoke? Between that and the lodgings tax, they may well feel unwanted in the Roanoke area, and opt for a more vistor friendly City next time.

Jack Mcguire

August 11th, 2011 at 5:11 PM    

And today I hear are schools are below standards after all this money.

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