Year to date revenue up $1.4 million over anticipated budget
Capping off a six-month stretch of double-digit increases, City of Bartlesville sales tax revenue is up again when compared to the same period last year, CFO/City Clerk/Treasurer Jason Muninger said Monday.
“The most recent sales tax report shows an increase of $217,000 in revenue for December’s collection compared to December 2020,” Muninger said. “That’s an increase of about 13.62 percent for the period.”
Muninger said revenue is up about 13.62 percent for the fiscal year as well, and about $1.4 million over the anticipated budget. The City’s fiscal year begins July 1 and ends June 30.
“Our last six months have been great, but we’ve actually had above-average returns going back about a year,” Muninger said. “We have consistently had $1.8 collections every month, with one $1.9 million month, for the past six months. Keep in mind a $1.8 million collection is rare under any circumstance, and to have six in a row is simply unheard of. We’re in unchartered territory.”
Muninger points out the largest collection months for a typical year are yet to come.
“We should see holiday sales reflected in the January and February reports,” he said.
The increases are likely due to a combination of more local spending and an influx of government and tribal stimulus funding into the local economy, Muninger said.
“Obviously, the bubble is going to burst at some point and we will eventually be comparing back to these larger numbers,” he said. “So lower percentage gains over the prior year will be expected at that point, but I’m eager to see how long we can continue to hold the pace we’re holding.”
Muninger said other municipalities across the state are also reporting increases in sales tax revenue.