The city of Springfield’s September sales tax revenues showed a huge jump over the same time period in 2018, however city staff had been expecting the increase.
The city’s check from the Missouri Department of Revenue was $552,360, or nearly 13 percent higher, than the check the state sent for September 2018. The September 2019 check totaled $4,882,042, leaving total revenue up nearly 3% from last year on a fiscal year-to-date basis.
“September sales tax revenues are higher this month, which was expected given that several of our large vendor remittances were behind in prior months. That being said, we continue to see positive growth of approximately 2% for our 12-month rolling average for budget and actual,” said Finance Director David Holtmann.
When compared to the city’s budget, revenue is up just over 5% on a monthly basis and just over 3% year to date.
Approximately 56 percent of the city’s operational revenue comes from sales and use tax.