City sales tax ends year on a down note; finishes year up 8.93%

City sales tax ends year on a down note; finishes year up 8.93%

For the first time in the 2017-18 fiscal year, the City of Guthrie saw a month of sales tax collections not exceed the previous month. However, city officials are pleased with the overall growth throughout the year.

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September collections came in at $531,091.73, which is negative 7.23 percent ($41,383.22) compared to September 2017 and is the only month in the fiscal year that did not exceed last year’s monthly total.

The fiscal year (October – September) finished 8.93 percent higher, accumulatively, as compared to 2017, or $555,927.30.

In total, sales tax receipts equaled $6,777,946.79 for the year.

City officials say they ended the year 9.76 percent higher than budgeted, or $602,947.

The City’s sales tax is 3.75 percent with three percent going toward the General Fund and .75 percent to the Capital Improvement (CIP) Fund.

The General Fund finished with $5,442,357.43 and the CIP Fund at $1,355,589.36.

In February 2016, Guthrie voters approved a three-quarters sales tax with a 15-year (June 30, 2031) sunset clause for capital improvements.

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