The city’s sales tax revenues exceeded forecasts by 2.89 percent for the month of April and were almost 6 percent higher than last year’s receipts for the same month. This marked the sixth time in the seven months of the current fiscal year that revenues were above expectations. It translates into a budget surplus of $165,753.12 for the year.
The sales tax report is a significant turnaround from last year when, at this same time, the city had recorded three months of lower-than-anticipated receipts in the first seven months of the fiscal year — a reflection of a more conservative estimate for the current budget cycle.
April’s sales tax revenues were $519,728.54 — $14,609.54 more than forecast and $29,363.54 more than was collected in April 2017.
You can see the entire sales tax report here.
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