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Columbia City takes CAGIT hit

December 30, 2010

COLUMBIA CITY — Columbia City’s wallet could be a bit thinner next year.
Clerk-Treasurer Rosie Coyle brought before the city’s Common Council on Tuesday, an emergency resolution to reduce the city’s 2010 appropriations.
“I was notified by the Department of Local Government Finance (DLGF) that I would need to reduce our appropriations by $292,000,” said Coyle.
The clerk told the board she was able to skim $199,700 from the 2010 budget, but that the remainder would have to come from the 2011 appropriation.
Coyle said today when she received her report from DLGF, the final difference was $79,000 that would be reduced from the 2011 budget.
The main reason for this reduction, according to Coyle, was a loss in CAGIT (County Adjusted Gross Income Tax) revenue.
Coyle said the city is expected to receive $779,000 in 2011 from CAGIT funds, which she said is a reduction of $487,645.
“So, we lost all that revenue,” she told the board.

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