Page 234 - City of Watauga FY22 Adopted Budget
P. 234
SPECIAL REVENUE FUNDS
STREET MAINTENANCE – FUND 14
The Street Maintenance Fund was established in FY2012-2013 to account for a ¼ cent
sales tax approved by voters on May 12, 2012 for an initial four years effective October
1, 2012. The ¼ cent sales tax was reauthorized by voters on May 2016 for another four
years. The purpose of the sales tax is to provide for the maintenance and repair of
municipal streets in existence at the time of the vote. The Watauga Parks Development
Corporation sales and use tax was reduced by ¼ of one percent effective October 1,
2012.
Street Maintenance sales tax was abolished by voters in November 2020.
Where Does the Money Come From?
Interest
Earnings
100%
Where Does the Money Go?
225
