Despite the pandemic, the City of Guthrie collected 16% in additional revenue in sales tax dollars when compared to the same time period a year ago.
August collections, which represent dollar amounts approximately two months previously, shows $625,240.25 and is an increase of $86,840.52 more as compared to the same month last year at $538,399.73.
“The City of Guthrie has been blessed in many ways as we all continue to work together to survive the many challenges presented to us in 2020,” City Manager Leroy Alsup said in a monthly update.
Overall, collections are up 8% higher ($472.823.08) accumulatively as compared to 2019.
With one month remaining in the fiscal year (October 2019 – September 2020), the City has collected $6.2M, which is 7% over or $387,197 more than the year to date projection of $5,846,106.
The City’s use tax also saw a substantial increase with $75,763.64 reporting, or 58% more when compared August 2019 when the collection brought in $48,059.85.
For the fiscal year, the use tax has generated $728,062.28 and is nearly $86,000 more than last year with one more month remaining in the year.
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.
Alsup remains optimistic, but says now is not the time to become complacent and continue to follow CDC recommendations to continue to keep the local economy open and going strong.
“We cannot become complacent, sales tax revenue is a very volatile source of revenue for Oklahoma municipalities.”
Of the 11 months in the current fiscal year, only June proved to be month that dip below from last year.