FY12 Year End
St.Louis Comptroller's office released Fiscal Year 2012 year end numbers.
This article is 13 years old. It was published on August 3, 2012.
St. Louis Fiscal 2012 ends with surplus of $4.3 million
ST. LOUIS, August 2, 2012— Today, the St. Louis City Comptroller’s Office announced that the city ended fiscal year 2012 with a surplus of $4.3 million, this is the second consecutive year that the city has seen an operating budget surplus since the financial crisis; fiscal year 2011 saw a surplus of $2.3 million. Comptroller Darlene Green attributed the surplus to conservative fiscal management and an increase in revenues.
“The City’s $4.3 million year end surplus represents strong fiscal management and the Cardinals post season games which created a modest upswing in economic activity in the City,” said Green.
Sales taxes were up $3.8 million or 9.5% and earnings taxes up $9.8 million or 6.7%. Hotel and restaurant taxes were also up $197,000 or 7.0% as a result of increased outdoor activities and post season baseball.
“This year’s surplus is a step in the right direction. Both of these revenue sources benefited from extraordinary events that boosted tourism such as post season baseball that occurred in the second quarter of the fiscal year,” said Paul Payne, City Budget Director.
As required by law, one-half of the city’s operating surplus will be deposited into the City’s Capital Fund. The year end results cited above are unaudited and represent preliminary calculations. The official, audited results will be published later this year in the city’s Comprehensive Annual Financial Report.
Comptroller Darlene Green remains committed to increasing revenue for the City of St. Louis, protecting the City’s credit rating and ensuring tax dollars are spent wisely.
###
-
Contact Information:
-
Department:
Office of the Comptroller
-
Topic:
Facts and Figures
Most Read News
- City Launches New Recovery Programs for St. Louisans Impacted by the May 16 Tornado These programs address urgent repair needs, provide trusted technical guidance, and protect homeowners from fraud or further damage.
- First Three Months of 2025 See Lowest Crime Rates in City of St. Louis in More Than 20 Years As of March 31, 2025, homicides are down 45%, robberies are down 20%, burglaries are down 33%, and auto thefts are down 39%, year-to-date.
- Mayor Spencer Appoints Colonel Ben Jonsson as Chief Operating Officer Press release: Mayor Spencer Appoints Colonel Ben Jonsson as Chief Operating Officer
Help Us Improve This Page
Did you notice an error? Is there information that you expected to find on this page, but didn't? Let us know below, and we'll work on it.
Feedback is anonymous.
1 comment from someone like you has helped us improve this page. Keep the feedback coming!