City ending fiscal year with tax revenue drop

The city of Springfield is ending fiscal 2013 with a 1.8 percent decrease in sales tax revenue.

The latest 1 percent sales tax check from the Missouri Department of Revenue brings fiscal 2013 year-to-date revenues through June to $38.5 million, compared to $39.2 million at the same time a year ago, according to data provided by the city.

The city's fiscal year ends June 30.

The June check, representing tax collections from previous months, totaled $4 million, a 3.9 percent decrease compared to $4.1 million in the same month of fiscal 2012.

During the most recent City Council meeting on June 3, Springfield's governing body approved a $315.85 million fiscal 2014 city budget, representing a 1.8 percent increase from the current fiscal year budget of $310.28 million. Despite depressed revenues from the 1 percent sales tax checks, the city is anticipating a rise in general revenues for the fiscal year beginning July 1, according to Springfield Business Journal archives.