City's February sales tax check falters

The city of Springfield’s 1 percent sales tax check for February from the Missouri Department of Revenue represented a 5.5 percent drop, reflecting decreased sales during the later holiday months.

This month’s check - representing sales processed by the state in January from transactions made largely in November and December - dropped to $2.9 million, or by $163,313 compared to February 2014, according to a news release.

However, sales tax revenue for the city’s fiscal year is up 9.1 percent to $28.1 million compared to the same period a year earlier. Springfield’s fiscal year began July 1.

According to the release, the check for February is 5.7 percent below the city’s budget, but the fiscal year target is 5.8 percent above projections.

Sales and use taxes make up roughly 60 percent of revenue for Springfield’s general fund.[[In-content Ad]]