Revenues remain on budget both year-to-date on a rolling 12-month average
FOR IMMEDIATE RELEASE
The City of Springfield’s October sales tax check from the Missouri Department of Revenue is down 10 percent, or $391,150, compared to the amount budgeted. The sales tax check was $3,506,108 compared to the budgeted amount of $3,897,258. On a year-to-date basis, revenues are on budget. On a rolling 12-month average, sales tax revenues are on budget.
The check reflects sales processed by the state in September from transactions made primarily in August. Compared to October 2017, revenues are down 3 percent, or $101,085, from October 2017’s revenue check in the amount of $3,607,193.
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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