Report: Sales tax revenue dips slightly

November 15, 2022

Collections still 2nd highest on record for period, CFO says

A recent report shows sales tax receipts were down slightly for the first time since May. However, collections for the period are still the second largest November collection on record, Chief Financial Officer/City Clerk Jason Muningersaid this week.

“The bad news, if you want to call it that, is that sales tax revenue is down slightly — about $15,000 — compared to the same period last year,” Muninger said. “But the good news is that last year’s collection was the highest on record for that period, and this most recent collection is the second highest.”

Muninger said the City collected $1.88 million in revenue, which is 11.8 percent more than what was budgeted for the period.

“That puts us about 8 percent over the anticipated budget for the fiscal year,” he said.

Muninger said inflation certainly plays a role in the unprecedented increases in sales tax revenue over the past year and a half, but more people shopping locally has clearly played a part as well.

“People are shopping locally, and that’s always good for the local economy,” Muninger said.