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Revenues remain above budget YTD and on 12-month average
FOR IMMEDIATE RELEASE
After a rebound in November, the City of Springfield’s sales tax revenues from the Missouri Department of Revenue are down 3.79 percent compared to budget with the December sales tax check. The check was $4,143,468 compared to the budgeted amount of $4,306,831. On a year-to-date basis, revenues are up compared to budget just over 1 percent. On a rolling 12-month average, revenues are 2.6 percent above budget.
The check reflects sales processed by the state in November from transactions made primarily in October. Compared to December 2017, revenues are down about 5 percent, or $235,854, compared to December 2017’s revenue check in the amount of $4,379,322.
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].
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