The city saw a $487,000 increase in business privilege and wage tax revenues between 2010 and 2011, according to the city finance committee that met Wednesday.
"The revenue reflects increased economic development. Some of it is likely to be a result of increased activity directly or indirectly related to Marcellus Shale industries," said City Councilman Jonathan Williamson, chairman of the city finance committee. The committee reviewed the 2011 budget and the quarterly financial report.
Williamson suggested that "some of the revenue increases" was due to policy between Mayor Gabriel J. Campana and Treasurer Thomas P. O'Connor, working to ensure landlords were "paying the appropriate business privilege taxes."
Codes Administrator Joseph Gerardi said Williamsport Regional Medical Center and Williamsport Area School District are big providers of wage and business privilege tax.
Last year's budget reflected $600,000 more revenue than what the city leadership anticipated, according to Williamson.
"Whenever we work on budgets we try to be as conservative as we can in what increased revenue is projected," Council President Bill Hall said after the meeting.
The committee reviewed the city's quarterly fiscal picture, looking at expenses in various departments three months into the year.
Through the end of March, or for the quarter, all expenses have not exceeding 25 percent of the budget, Williamson said.
"That we're running under the budgeted amount at this time is an early indicator and reflection that spending is under control," Williamson said.
"Right now, those expenses are at 19 percent, so the city is running under budget, which is a good thing," said Council President Bill Hall, who sat in attendance.