The May sales tax dollars came in below projections for the City of Guthrie.
For the seventh straight month, the City’s sales tax dollars are down when compared to last year’s banner year.
The May 2019 revenue receipts were $532,517.90, which is $77,807.32 or 12.75 percent lower as compared to May 2018.
For the eight months of the current FY19 Budget Year (October through May) the cumulative sales tax revenue is down $359,054.63 or 8.03 percent as compared to the same first eight months of the prior budget year.
“With the number of vacant positions at the City, the balance of our funds are satisfactory,” City Manager Leroy Alsup said.
“However, the decreased manpower for an extended period of time will have a negative long term impact and make it more difficult to maintain our level of service.”
Use tax revenues continue to go above and beyond when compared to last year.
The May 2019 use tax revenue receipts collected were $55,165.54. That dollar amount is up $19,354.53 for a 54.05 percent increase as compared in May 2018.
The use tax dollars are collected from online shopping, including Amazon.com and by third-party vendors selling through Amazon, which began July 1, 2018.
Use tax is sales tax levied on products purchased elsewhere and shipped into Oklahoma. Use tax also is due on major purchases, such as when a farmer orders a tractor from a national dealer in another state and has it shipped into Oklahoma.
For the eight months of the current use tax (October through May) the cumulative uses tax revenue is up $139,621.60 or 51.27 percent as compared to the same first eight months of the previous budget year.
Overall, the City has seen a shortfall of $219,433.03 in the current fiscal year when compared to last year’s banner year.
“While 2019 sales tax to date is down compared to FY 2018, it is still $87.043 ahead of the same eight moth period of FY2017,” Alsup added.
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