Over the past two years, the Belize City Council has recorded a robust term in their administration as it relates to finances. The Council patted their backs as they announced a 9% increase in revenue for 2019. This increase comes from various sectors including property tax; traffic; trade licenses; tourism; liquor license; and rent and concessions. Mayor Bernard Wagner broke down the figures and explained how these sectors contributed to the increase.
There are other sources of income for CitCo, including funding from Government. However, as Mayor Wagner explained, this funding decreased by 45%, going from $2.9 million in 2018 to $1.6 million in 2019. Additionally, the funding represents subvention that is assigned to Central Bank to service bond obligations made by the previous mayor, Darrell Bradley and his administration.