County May Face Revenue Shortfall
Transylvania County Manager Artie Wilson says the county may be facing a potential revenue shortfall of about $850,000 because of the struggling economy.
As a result, he presented county commissioners Monday with a revised budget for the last three quarters of fiscal year 2008-2009, which cuts spending by an average of about 2 percent. Commissioners unanimously approved the recommendation.
"The major risk areas are all fees associated with the building industry and real estate market, a reduction in the collection rate of property taxes, sales taxes and interest income," he said.