City misses projections for sales taxes

Following a nearly spot-on budget projection in October, the city of Springfield’s November sales tax check from the Missouri Department of Revenue was down 5 percent from the city’s monthly projections.

Reflecting sales processed by the state in October from transactions made primarily in September, the sales tax check was $2.8 million, below the budgeted amount of $2.9 million for October – a difference of $142,137, according to a news release.

Compared with the same month of last year, November receipts were up $245,577, or 10 percent.

Year to date for fiscal 2017, overall tax revenues are $17.8 million, down 3 percent compared with budget. The city’s actual year-to-date tax revenue collections are nearly flat for the year, down 0.3 percent, or $60,899.

Sales tax revenue funds core city services, such as Police and Fire operations. In Springfield, roughly 60 percent of the city’s general revenue fund comes from sales and use taxes.