January 11, 2010

Springfield Tax Revenues Down Again

This from today's SBJ:

Springfield's sales tax revenues dropped in January, though the decline was less than in previous months.

The city received just less than $3.4 million from its 1 percent general revenue sales tax this month, a 3.5 percent drop from the $3.5 million the tax generated in January 2009. January revenues reflect November sales in the city.

For the first seven months of fiscal 2010, the city's general sales tax revenues are $20.8 million, down 8.8 percent from the first seven months of fiscal 2009.

The January drop comes on the heels of City Manager Greg Burris' announcement last week that the city must cut $1.27 million from its current year general revenue budget due to lackluster sales tax performance through the first six months of the fiscal year, which runs July 1-June 30.

Those proposed cuts, which include withholding a $225,000 transfer to the Health Department and cuts to capital and maintenance funds for the Public Works and Public Information departments, will get first reading at Springfield City Council's meeting tonight.



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