Monday, December 5, 2016

Springfield sales tax revenue down 10 percent

(From the City of Springfield)

The City of Springfield's December 2016 1% general sales tax check from the Missouri Department of Revenue is down 10% compared to the amount budgeted. The check reflects sales processed by the state in November from transactions made primarily in October. On a year-to-date basis, revenues are down 4% compared to budget.

The sales tax check was $3,900,397, compared to the budgeted amount of $4,353,644.

When comparing to the same month last year, December receipts are down $246,352, or 6% under December of 2015.

The City heavily relies on sales tax revenues as its main source of revenue to fund vital services, such as police and fire operations. In Springfield, approximately 60% of revenue in the General Fund comes from sales tax and use tax.

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