2023 Town of La Conner budget will end in black

The 2023 Town of La Conner budget has met its $5.8 million revenue goal with December not yet counted. Even better, expenditures, now at $4.55 million, are likely to finish below 67% of projections. The budget surplus is $1.23 million and may still grow. Of the 12 program funds generating revenue, only the sewer fund, at 85% is below 100% of budget projections with one month still to come.

The $3.58 million generated this year from the water, drainage, sewer and compost funds is the real engine of town income, bringing in 62% of total revenue. The four funds brought in $200,580 in November.

The $57,729 in sales tax is the second highest November ever, behind only 2021’s $60,911. The $586,506 in 11 months is 96.3% of budgeted projections. It is almost certain 2023 sales tax revenues will be above the projected $609,181, itself a record.

The $19,048 collected in hotel/motel taxes brings the year to date total to $181,875, 136.7% of 2023 projections. Likewise, the $6,524 in the fire truck fund pushes the year’s total to 105% of its budget.

The $123,150 paid in property taxes is by far the largest single collection and brings the fund total to 92.7% of the year’s estimate.

The $9,875 collected in REET (Real Estate Excise Tax) revenue brings that fund to 116% of projections.

The 2023 budget was passed as a deficit budget, with expenses estimated at $7.2 million and revenues projected to be $5.8 million.

The 2024 budget also projects a deficit of $1.8 million, with $7.34 in revenues, against projected expenditures of $9.1 million.

These totals are based on September collections from town businesses and online purchases delivered to La Conner addresses and reported to town council by the Washington Department of Revenue.

La Conner has a calendar fiscal year.