FOR IMMEDIATE RELEASE
The City of Springfield’s April sales tax check from the Missouri Department of Revenue is down less than 1 percent, or $29,810, compared to the amount budgeted. The sales tax check was $3,595,901 compared to the budgeted amount of $3,625,711.
The check reflects sales processed by the state in March from transactions made primarily in February. On a year to date basis, with April being the 10th month in the 2017-2018 fiscal year, revenues are on budget.
Overall, sales tax continues to show growth despite missing April’s budget projection, said Finance Director David Holtmann.
Compared to last April, monthly revenues are up 4 percent, or about $1,487,703.
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.
Download sales tax chart.
For more information, please call David Holtmann, Finance director, at 417-864-1632, or Assistant Director of Public Information and Civic Engagement Melissa Haase at 417-864-1003 or [email protected]