Declining Job Growth Leads To Wico. Income Tax Deficit - 47 ABC - Delmarva's Choice

Declining Job Growth Leads To Wico. Income Tax Deficit

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WICOMICO Co., Md. - Months of declining in job growth for Wicomico county isn't only effecting residents, it's caused a deficit in the county budget.       

According to the Director of Administration,  Wicomico County was anticipating significantly more money in income tax revenue for the 2014 fiscal year.

The budget was based on reaching a 12 month average of about 49,000 people employed by December 2013; instead just 47,600 had jobs, a miss of 1,400 employed Wicomico County residents.

Director of Administration, Wayne Strausburg, said "We're anticipating worst case that our income tax revenue based on the job trajectory that we see would come in about 3.5 million dollars below what we had budgeted and forecasted at the beginning of the fiscal year."

A conservative estimate, the county will under spend by between $1 million and $1.5 million, which will still put them at a shortfall.

In an attempt to make that up, a freeze has been put on discretionary capital spending, and excess funds currently in roads revenue fund would be used to continue with roads projects rather than transfering funds from the general revenue fund.

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