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City nears fiscal year end with higher sales taxes in tow

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As the city of Springfield nears the end of its fiscal year, sales taxes are trending higher than expected.

The May sales tax check from the Missouri Department of Revenue came to $3.4 million, which was 22 percent ahead of city officials’ projections for the month. Compared with May 2017, the latest check is up 5 percent, according to a news release.

That brings the fiscal 2018 total to $41.4 million, which is 2 percent higher than forecasts. The fiscal year-to-date number also is roughly 5 percent higher than the corresponding period in fiscal 2017, said city Finance Director David Holtmann.

The city’s fiscal year ends June 30.

Springfield uses the sales tax checks from the Department of Revenue on services such as the Police and Fire departments. Roughly 56 percent of the city’s general fund comes from sales and use taxes, according to the release.

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