Springfield Sees July Sales Tax Revenue Increase

By KOLR10 News

Published 07/08 2014 03:39PM

Updated 07/08 2014 06:34PM

SPRINGFIELD, Mo. – The City of Springfield reports the July one-percent general sales tax check from the Missouri Department of Revenue is up just over 26 percent compared to July 2013.

Revenues are also ahead of budget for July by $682,250, or 17.82 percent, according to a news release.

The sales tax check for July 2014 was $4,511,632, compared to the July 2013 check of $3,565,089, representing sales processed by the state in June from transactions made primarily in April and May.

City Finance Director Mary Mannix Decker says the $4.5 million figure is a new record high revenue amount for the month of July.

The uplift in July revenue follows a 14 percent decline in June sales tax revenue that created a $588,692 shortfall for that month.

Decker says she is cautiously optimistic that the City will end the fiscal year reporting period on budget.

According to a release, fiscal year-to-date revenues are 4.3 percent higher compared to last year and 1.2 percent higher compared to budget.

Year-to-date revenues are currently $38,095,156, compared to $36,507,845 in this time last year.

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