«

»

Jun 15

Print this Post

Sales tax figures up

Information from the Texas Comptroller indicates that City of Tyler sales tax revenues deposited for the month of June have increased 6.46 percent as compared to May 2011, resulting in a 3.47 percent cumulative year-to-date increase.
The reported revenue of $2,634,914.84 is comprised of $ 1,756,609.88 general sales tax revenue and $878,304.94 half-cent sales tax revenue. The figures represent receipts from April 2011 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.
“We continue to see steady, incremental growth in our sales tax revenues as compared to where we were last year,” said City Manager Mark McDaniel. “The relatively greater increase for this month largely reflects an adjustment for prior collections, which means that the last few months’ collections were artificially low. Bottom line, we are up 3.47 percent so far versus the conservative 2 percent growth forecasted.”
The City is already into its 2011-2012 budget preparation cycle.  Individual departments have prepared budgets that were submitted to the City Manager in May and staff-level budget hearings will take place throughout June; the final proposed budget will be presented to the City Council on August 10, 2011.
“Although sales tax collections continue to increase, we anticipate this will be another tight budget year. We made many cuts last year to offset significantly lower revenue – without dramatically affecting service levels,” added McDaniel.  “We are still recovering from those cuts in staffing and the delay of projects. Basically, we will be looking at a ‘maintenance budget’ with no new programming or costly initiatives.”

Share:
  • StumbleUpon
  • Facebook
  • Twitter
  • Google Bookmarks

Permanent link to this article: http://www.easttexasreview.com/sales-tax-figures-up/

Leave a Reply