LEWISTON – City revenues and tax collections are keeping pace with last year and spending is up slightly, according the city’s first quarter financial report.

A larger than usual purchase of salt for the city’s winter roads and an early insurance premium payment are to blame for spending increases, according to Finance Director Dick Metivier.

Metivier said the city paid the $255,000 October health insurance premium on Sept. 28 and that put it on the first quarter, June through September, balance sheet.

The city also purchased $192,000 in rock salt to fill the new salt and sand shed along River Road. The city normally spends that amount over several months, buying smaller portions of salt each time. The new shed lets the city buy in bulk and that should lead to savings over the year.

“Those two items amount to the biggest part of those spending increases compared to last year,” Metivier said.

For the first three months of the fiscal year, the city has spent $12.5 million, about 33 percent of the city’s spending plan for the whole year. At this time last year, the city had spent about $11.7 million.

The city’s investment earnings took a severe hit in the first quarter. City investments and interest earnings brought in $44,985 in the first quarter, compared to $94,691 at this time last year.,

“The interest rates are down for everyone, and that’s reflected in our investments,” he said.

Overall, the city has seen revenues increase $200,000 compared to this time last year. The city has collected $19.4 million in property taxes, up from $19.2 last year. Motor vehicle excise taxes dropped off from $1.01 million last year to $999,000 so far this year. State revenue sharing increased slightly, from $1.09 million last year to $1.1 this year.

staylor@sunjournal.com

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