Treasurer Distributes Money To Schools

FOR IMMEDIATE RELEASE

6/17/14

TREASURER DISTRIBUTES MONEY TO SCHOOLS

            The Platte County Treasurer’s Office distributed $354,682.17 to Platte County schools this week.  Under Missouri law, money collected by the county from proceeds of criminal fines and asset forfeitures are distributed to schools within the county.  Allocation of the money is based on enrollment and is transferred to the district’s school building revolving fund.

            “I don’t usually say ‘I’m happy’ when I’m distributing funds, but this is the exception,” Platte County Treasurer Rob Willard said.  “Anything our office can do to help kids makes it all worth it.”

            Park Hill, which has the largest enrollment of any school district in Platte County, received $246,864.65; Platte R-III received $76,563.86; West Platte $13,831.81; North Platte $12,814.69; and East Buchanan, which has a small portion of its boundary within Platte County, received $71.09.

            The Treasurer’s Office distributes proceeds from the school fund twice a year.

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SALES TAX

The monthly sales report is available and online at the county’s website www.co.platte.mo.us under “News and Announcements.”

Sales tax receipts fell 9.9% in the June 2014 report compared to the same period in 2013.  The county sales tax receipts are still in positive territory for the first six months of the year compared to the same period a year ago, rising 5.8%.

The use tax continued riding its traditional roller coaster falling 33.1%.  Go to plattemoney.com next week for more on the use tax.

Together, the county is down 0.9% for total sales and use tax combined compared to the same time last year.

I’m not a betting man and some of my predictions have been way off over the years (ie: the 1985 Royals will be a dynasty, I would “drive” my flying car to college, Coke would never change its recipe… you see where this going.)  However, if the trend of the last three years continues, the range between the average percentages of growth for a month compared to the same month in 2013 should level out during the second half of the year. 

Double digit fluctuations have been the norm in the first two or three months of the year, but that didn’t happen this year.  Perhaps we’re seeing a statistical correction. 

LOCAL INVESTMENT  

One of the main responsibilities of a county treasurer is to invest money “not needed for current operations” of the government.  For instance, the county government may set aside a certain amount of revenue to cover certain expenses at later point in the fiscal year. 

For the first time in Platte County history the County Treasurer’s Office expanded the investment policy to also include of the goal of enhancing local investment.  To that end, the Treasurer’s Office will be tripling its investment deposits with the Bank of Weston in the coming weeks.  More money in local banks helps the local economy. 

County tax dollars do more to help Platte Countians when they are deposited in Weston, Platte City or Parkville and not in a bank in New York, Los Angeles or Chicago. 

And besides, we’re just plain nicer in Platte County.

June sales tax numbers

June sales tax receipts are down 9.9% compared to the same time in 2013.  However, the County is still up 5.8% for the year.

The use tax was 33.1% for the same period but is only down 12.1% (Commission did budget for negative use tax growth).

Full report later this week