Revenues are 15% above budget for November.
FOR IMMEDIATE RELEASE
The City of Springfield’s November sales tax check from the Missouri Department of Revenue is up 15 percent, or $430,570, compared to the amount budgeted. The sales tax check was $3,238,111 compared to the budgeted amount of $2,807,541. On both a year-to-date basis and the rolling 12-month average, revenues are 3 percent above budget.
“The City was pleased to see the November rebound, after October’s revenues were 10 percent short of what we had budgeted for the month,” says Finance Director David Holtmann.
The check reflects sales processed by the state in October from transactions made primarily in September. Compared to November 2017, revenues are up 22 percent, or $587,847, from November 2017’s revenue check in the amount of $2,650,264.
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.
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].
View sales tax chart as PDF.