Shawnee Municipal Sales Tax Collection Report for March released; revenue fell from last month and from last year.
Jacob Bussell, assistant chief financial officer, reports that sales tax and use taxes totaled $2,011,796.13 for the month, about $716,712 less than last month’s total.
Sales tax collections totaled $1,775,758.09, including interest of $725.16, for March 2022, down $134,514 from last year at this time, which was $1,910,272 .
It is to be distributed as follows:
- General Fund — $1,014,718.92
- 2018 Capital Improvement Fund — $253,679.72
- Capital Improvement Fund — $196,601.80
- Street Improvement Fund — $221,969.75
- Economic Development Fund — $25,367.98
- Police Sales Tax Fund — $31,709.96
- Fire Sales Tax Fund – $31,709.96
“It should be noted that the current sales tax estimate for fiscal year 21-22 is based on a 2% increase over the prior year’s budget,” Bussell said in his report.
For the year, sales tax collections were up $2,553,466 or 15.60% over budget to date, he said.
“Use tax collection is up approximately $538,683, or 28.95%, over budget year-to-date,” he said.
Use tax revenue for the year is $236,038, an increase of $64,751 over last year at this time. Year-to-date use tax receipts show $2,399,285, according to the report, an increase of $515,761 from the same time last year.
The new fiscal year begins on July 1.
To view the city’s budget online, go to https://stories.opengov.com/shawneeok/published/u84NCy36R.
For story ideas, questions or concerns, reporter Vicky O. Misa can be reached at [email protected]
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