The City of Springfield’s August sales tax check from the Missouri Department of Revenue is up 17 percent, or $446,761, compared to the amount budgeted. The sales tax check was $3,085,106 compared to the budgeted amount of $2,638,345. On a year-to-date basis, revenues are up 9 percent, or $671,372. Over the last 12 months, sales tax revenues are exceeding budget by 2 percent.
The check reflects sales processed by the state in July from transactions made primarily in June.
"Sales tax collections continue to exceed our budget expectations, which is a positive sign for the local economy,” said Finance Director David Holtmann.
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 56 percent of revenue comes from sales tax and use tax.
The check reflects sales processed by the state in July from transactions made primarily in June.
"Sales tax collections continue to exceed our budget expectations, which is a positive sign for the local economy,” said Finance Director David Holtmann.
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 56 percent of revenue comes from sales tax and use tax.
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