Springfield Sees Higher Sales Tax Check this Month
The City of Springfield’s February sales tax check from the Missouri Department of Revenue is 19 percent higher than the amount budgeted. The sales tax check was $3,717,693. That’s $592,566 more than what was expected.
The check reflects sales processed by the state in January from transactions made primarily in December. On a year to date basis, with February being the eighth month in the 2017-2018 fiscal year, revenues are up 1 percent compared to budget.
Finance Director David Holtmann said this is a positive sign for the economy and the City.
Sales tax revenues are the city’s main source of revenue to fund services, including police and fire operations. In Springfield, approximately 56 percent of revenue in the General Fund comes from sales tax and use tax.