The City of Springfield’s August sales tax revenues from the Missouri Department of Revenue are down about 4%, or $124,594, compared to August 2018. The check was $2,960,512 compared to the August 2018 revenue check in the amount of $3,085,106.
On a fiscal year-to-date basis, revenues are down about 2.5%, but are continuing to trend upward by about 1.5% over 12 months. The check reflects sales processed by the state in July from transactions made primarily in June.
Compared to budget, revenues are up 5% on a monthly basis and 1.74% on a year-to-date basis.
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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