City misses mark on tax revenue budget projections

The city of Springfield has recorded tax revenue below budget projections this fiscal year, but has witnessed a boost in collections compared to the same time last year.

The city recently received its 1 percent sales tax check for January from the Missouri Department of Revenue, which represents sales processed by the state in December from transactions made primarily in October and November.

Fiscal 2014 collections represented in the January check amounted to $22.7 million, a 3.3 percent increase from $22 million in the same time period of fiscal 2013. However, the city missed the $23.1 million mark by 1.6 percent set in its budget for the fiscal year through December, according to a news release.

The January check of $3 million represents a 2.8 percent bump from $2.9 million in collections in the same month last year. In fiscal 2014, which began July 1, the city has posted year-to-year gains in all but two months - August and October.[[In-content Ad]]