For Immediate Release
January Sales Tax Revenue Short of Budget
The City of Springfield's January one-percent general sales tax check from the Missouri Department of Revenue is down 11% compared to budget. Budgeted revenue for January was $3,323,500 and the actual receipts were $2,931,724. Year-to-date, the budget is $22,873,500, and actual receipts are $21,974,035. On a year-to-date basis, that puts the City down $900,000 or 4% below budget.
Sales tax is down 5.1% on a year to date basis, when compared to the same time last year. Local use tax revenue is up 13%, however, compared to this time last year.
These figures represent sales processed by the state in December from transactions made in October and November. The effect of holiday sales remain to be seen.
For more information, contact: Finance Director Mary Mannix Decker, (417) 864-1625.