May Sales Tax Revenue Check for Springfield Less Than Expected
The May one percent general sales tax check from the Missouri Department of Revenue is four percent less than what city officials had budgeted. But the city’s finance director, Mary Mannix Decker, says receipts are still strong on a year-to-date basis. According to a news release from the city, the check reflects sales processed by the state in April from transactions made primarily in March.
The May sales tax check was $2,601,272 compared to the budgeted amount of $2,702,854.
On a year-to-date basis, sales tax revenue is $38, 413,914. That’s five percent, or $1,897,584 above the budgeted amount of $36,516,330.
Compared to the same month last year, May receipts were down 25 percent. On a year-to-date basis, sales tax revenue is up five percent.
In Springfield, approximately 60 percent of revenue in the General Fund comes from sales tax and use tax.