By John Myers, Jr. Staff Reporter
THE KINGSTON and St. Andrew Corporation (KSAC) is reporting a significant increase in revenue collections and a reduction in expenditure for a seven-month period ending in October. Councillor Vernon McLeod, chairman of the KSAC's Finance Committee, revealed that total revenues from the start of the fiscal year in March to October stood at just over $580 million, compared to $271 million for the same period last year.
FINANCE COMMITTEE
The Finance Committee chairman, speaking at the monthly meeting of the Finance Commit-tee at the KSAC's office in downtown Kingston, explained that increased revenues derived from fees for buildings and sub-division approvals, billboards, and the motor vehicle pound in the Corporate Area area are largely responsible for the increased income.
"We have done far better for the seven months this year, as opposed to the seven months last year... we are going places," he said.
Errol Greene, the KSAC's Town Clerk, told The Gleaner that the council has been putting the funds to use, installing street signs and refurbishing the building which houses the council's office.
The signage programme began on Harbour Street and Water Lane in downtown Kingston, and is to be extended across the Corporate Area. According to financial documents presented to the committee, revenues derived from billboard rentals totalled just over $9.5 million, compared with $6.7 million collected in the previous period.
Collections from buildings and subdivisions increased to just under $15 million, up from $12.3 million.
Income from the city motor vehicle pound reached a high of $26 million, up from the $13 million.
The same document showed that total expenditure for the seven-month period extending from March to October stood at $138.8 million. This is $5.5 million less than the amount that was earmarked to be spent for the period.
He attributes the improved turnover to the vigilance of the management team.
"There is an increased energy in the administration in going after revenue that is out there. We have emphasised a number of areas where we ought to go and collect the revenue (such as fines for) encroachments and buildings."
But despite the improved finances, Councillor McLeod noted that the KSAC's performance was still below par. He said that in other countries, similar bodies generate up to 82 percent of their budget. In the case of the KSAC, total revenues account for only 12.1 per cent of its expenditure.
