City's September Sales Tax Check Down Modestly
September’s sales tax check for the City of Sand Springs continued a slightly downward trend when compared to the previous year.
The month’s sales tax disbursement from the Oklahoma Tax Commission totaled 761,902 – down $15,913 or 2.05 percent from the $777,815 received by the City in September 2009. It marked the third consecutive month of declines for sales tax revenues.
The September disbursement reflects sales in the last half of July and the first half of August.
For the first three months of the 2011 fiscal year, disbursements to the City from OTC have totaled $2,242,950 – down $151,139 or 6.31 percent from the previous year’s OTC disbursements.
The City collects a 3.5-cent sales tax for every dollar of goods purchased from businesses within the city limits. Two cents goes to general governmental operations. Another penny goes to fund water and sewer capital improvements, and a half-cent funds street improvements.
Despite the declines in recent months, revenues are keeping pace with the City’s budget forecasts, which are measured on an accrual basis and lag a month behind OTC’s actual cash disbursements. For the first two months of the fisca...