City reports general revenue shortfall in June

The city of Springfield yesterday reported a $588,692 shortfall in June revenue after receiving its 1 percent sales tax check from the Missouri Department of Revenue.

The check for $3.4 million is 14.6 percent below the city's $4 million budget for June, according to a news release.

Through June, the last month of the city's fiscal year, sales tax revenue from the state increased by 1.9 percent to $39.3 million, $741,837 higher than the same period a year earlier. However, city officials had estimated the budget to be at $39.7 million year-to-date through June, according to data provided by the city.

The June sales tax check follows a May check that beat both projections and the prior year. April sales taxes were down 10.7 percent form the previous year.

“This roller coaster of trend makes things very difficult to manage and to predict,” said Mary Mannix Decker, city finance director, in the release.

[[In-content Ad]]