City sales-tax revenue up 12 percent
BY BRIAN BARBER World Staff Writer
Wednesday, May 09, 2012
5/09/12 at 8:14 AM
Tulsa's sales-tax revenue for May jumped 12.1 percent over the same month last year, reports released Tuesday show.
The city's check from the Oklahoma Tax Commission was for $19,302,872, compared to $17,221,715 in May 2011 - a $2.1 million uptick.
The money was collected on purchases made from March 16 through April 15.
About 6.5 percent can be attributed to a growth in sales.
The rest is the result of an increase in the city's sales-tax rate from 3 cents to 3.157 cents last October to capture Tulsa County's 4-to-Fix revenue to use for the Fix Our Streets effort.
Tulsa's budget is based on achieving an average 2.5 percent growth over the entire fiscal year and is tracking ahead.
May was the ninth consecutive month the city has experienced an increase in its sales-tax revenue.
Mayor Dewey Bartlett said Tulsa continues doing well but that the city will continue to absorb extra expenses.
"We're encouraged to see revenues rising, especially that portion that funds Fix Our Streets and allows us to keep working on those projects that the voters approved in 2008," he said. "It is important to remember, too, that the city has increasing budget needs for public safety in the coming fiscal year.
"The general fund must cover $8 million over the next five years to pay for police and fire salaries funded with federal grants that begin expiring in fiscal year 2013."
The city for the fiscal year to date is 3.6 percent or $7 million ahead of budget projections, Finance Director Mike Kier said.
The city is expected to have a balance of $10.8 million at the end of the fiscal year to be used for one-time expenses.
"I see no reason to waiver from that at this time," Kier said.
Most Tulsa-area cities saw strong increases in their May sales-tax revenue checks.
Catoosa was up 11.5 percent, Jenks by 11.4 percent, Glenpool and Bixby each by 7.2 percent, Sand Springs and Coweta each by 7.1 percent, Owasso by 7 percent and Broken Arrow by 6.3 percent.
Also on the positive side were Collinsville, up 4.7 percent, Sapulpa, up 3.9 percent, Muskogee, up 2.6 percent, and Skiatook, up 1.6 percent.
Oklahoma City saw a 10.3 percent increase in its sales-tax revenue.
The one negative spot was Wagoner, which was down 1.7 percent.
Original Print Headline: City sales-tax take is up 12 percent
Brian Barber 918-581-8322