The City of Springfield’s September sales tax revenues from the Missouri Department of Revenue came in nearly 13% higher, or $552,360, compared to those of September 2018. The check was $4,882,042 compared to the September 2018 revenue check in the amount of $4,329,682.
On a fiscal year-to-date basis, revenues are up nearly 3%. The check reflects sales processed by the state in August from transactions made primarily in July.
Compared to budget, revenues are up just over 5% on a monthly basis and just over 3% on a year-to-date basis.
Compared to budget, revenues are up just over 5% on a monthly basis and just over 3% on a year-to-date basis.
“September sales tax revenues are higher this month, which was expected given that several of our large vendor remittances were behind in prior months. That being said, we continue to see positive growth of approximately 2% for our 12-month rolling average for budget and actual,” 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.
View September sales tax chart.
View all sales tax charts.
No comments:
Post a Comment