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CARMEL TO HEAR FINANCIAL REPORT 3-17-14 1745 OG

THE CARMEL CITY COUNCIL IS SCHEDULED TO HEAR A REPORT ON THE FIVE-YEAR FINANCIAL FORECAST OF THE CITY AT A SPECIAL MEETING TOMORROW (TUES) AT 4:30 P-M. THE FORECAST IS REPORTEDLY MORE POSITIVE THAN RECENT INFORMATION, PRIMARILY DUE TO REVENUE FROM THE 1 PERCENT SALES TAX INCREASE APPROVED BY VOTERS IN NOVEMBER 2012. IN ADDITION, HOTEL ROOM, SALES, AND PROPERTY TAXES CONTINUE TO BE CARMEL’S MAJOR SOURCES OF REVENUE, WITH A PROJECTED GROWTH OF 3 PERCENT ANNUALLY THROUGH 2017. IN AN ATTEMPT TO INCREASE TOURISM, THE COUNCIL WILL ALSO BE ASKED TO APPROVE TWO CONSULTING CONTRACTS AS PART OF THE OVER 3 HUNDRED FIFTY THOUSAND DOLLARS A YEAR SPENT ON MARKETING.

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