When City Treasurer Jeanie Skeen reported Newcastle’s monthly sales tax returns, she noted that they were 12.7% higher than expected, and 8% higher at this time than the same time last year.
Newcastle had a total of $928,000 in returns to the City in the October State Tax Commission report. Of that, $790,000 was sales tax, and the remaining $138,000 was use tax.
Because of the City’s conservative estimating and budgeting, the returns came in higher than what was budgeted.
The report was given by Skeen at the Council’s November meeting.
Since then the November tax reports have come in, and Newcastle had a total of $835,429.25 in total taxes returned to the City. Of that $700,522.64 was sales tax, and $134,906.61 was use tax.
Also at the November meeting, the Council approved financing for a land purchase, a change in cont r actor s for the State Highway 76 water line relocation project, and the purchase of cameras for the police department. The First National Bank & Trust Company was the low bidder and had the successful bid on financing the City’s purchase of 9.69 acres at the southeast corner of State Highways 64 and 130. The bank is loaning $980,000 for 120 months at 5.50% interest with the bank paying all closing costs including the appraisal and title insurance. The City plans on using the property for economic development opportunities. A change in ownership of the successful bidder on the SH-76 water line project forced the City to rescind its bid and award it to the next highest bidder. Mayfield Contracting LLC is now Bear Creek Construction, and the company decided it could not perform the job because of the transition in ownership. The bid was awarded to Matthews Trenching LLC, as second lowest bidder.
The City purchased 25 new body cameras to replace outdated equipment worn by police officers. They also purchased 25 car cameras, docking stations, upgraded software, and a new server.
In other business, the Council discussed but took no action on working with the school system to move school zones on SH-130 out further to the west. Council member Mike Fullerton pointed out that a new parking lot had been put in by the school in the area. The Council asked City Manager Kevin Self to explore this possibility with the school system and with the Oklahoma Department of Transportation.
