Craighead County justices face numbers crunch, officials say

Craighead County Treasurer Terry McNatt said Monday (May 9) that expenses have outpaced revenues so far this year, as the county’s finance committee asked questions as for the reason why.

McNatt said the county brought in $3.3 million in general revenues and spent $4.6 million in general expenses during April 2015.

“It is a trend you always see happening, when collections are always behind,” McNatt said.

Typically, the county receives a large tax payment in the spring from mortgage companies because people pay taxes through their mortgage payments. The county also receives funding late in the year when people pay property taxes before an Oct. 15 deadline, McNatt said.

Still, the county faces a good budget situation, McNatt said.

“We are still in revenue parameters, but the revenue is slow,” McNatt said.

McNatt also gave the committee an overview of the budget so far this year. The county collected $11.45 million in property tax revenue on Monday, at least $4 million lower than what was collected in April 2015. The county has about 71% of its overall budget left for the year, McNatt said, noting there is plenty of time to get back on track.

By contrast, the county saw a 14% increase in sales tax revenues, keyed by spending due to people receiving their federal and state tax refunds, officials said last month. In April, the county brought in $1.621 million in collections while the city of Jonesboro brought in $1.458 million, a 13% jump over the same period in 2015. So far this year, the county has collected $6.5 million in sales tax revenues, up $400,000 from 2015 figures.

McNatt said recent growth in Jonesboro and Craighead County, as well as people spending money in Jonesboro, have attributed to the increase.

“Every time I go out running in the morning, you see another house being built,” McNatt, who has run in several marathons, said.