FOR IMMEDIATE RELEASE
The City of Springfield’s December sales tax check from the Missouri Department of Revenue is up 3%, or $136,085, compared to the amount budgeted. The sales tax check was $4,379,322 compared to the budgeted amount of $4,243,237.
The check reflects sales processed by the state in November from transactions made primarily in October. On a year to date basis, with December being the sixth month in the 2017-2018 fiscal year, revenues are down 1% compared to budget.
Compared to last December, monthly revenues are up 12%, or about $478,925.
The December check is a rebound from the previous three monthly disbursements. November’s check was 7% below budget; October’s check was 9% below budget and September’s check was 7% below budget. Holtmann attributed significant delays in processing the City’s largest vendor payments for the three below-budget checks in the fall.
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% of revenue in the General Fund comes from sales tax and use tax.
###
For more information, please call David Holtmann, Finance director, at 417-864-1632, or Director of Public Information and Civic Engagement Cora Scott at 417-864-1009 or 417-380-3352.