The City of Springfield’s sales tax revenues from the Missouri Department of Revenue are up 5.68 percent, or about $235,600, compared to budget with the January sales tax check. The check was $4,387,170 compared to the budgeted amount of $4,151,564. On a year-to-date basis, revenues are up compared to budget just over 2 percent. On a rolling 12-month average, revenues are 2.79 percent above budget.
“We were pleased to see revenues rebound after a below-budget December,” says Finance Director David Holtmann.
The check reflects sales processed by the state in December from transactions made primarily in November. Compared to December 2017, revenues are up about 3.6 percent, or $153,697, compared to December 2017’s revenue check in the amount of $4,233,473.
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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