Sunday, October 30, 2016

Sales Tax Decline Consistent for FY 2016

The City of San Angelo Development Corporation board met last week and heard staff's hope that the sales tax situation might be improving.

"We did end the year just slightly under budget for sales tax revenue.  However our most recent month over month comparing with last year we were up just slightly at 0.39%.  So we're hopeful going forward that will continue to see that upward trend."
"Slightly under budget for sales tax revenue" was a shortfall of $510,399.  That's nearly one month of sales tax revenue.  September 2016's sales tax revenue came in 12.6% or $88,647 below 2015's.  I'm not sure how that's upward for the month.  Also, one month of data does not make a trend.

The shortfall when comparing the last two years of actual data came in at nearly $1.2 million or 12.5%.  Hope is a good thing, so are knowledge and faith.  I pray our economy stabilizes and expands in a way that helps people living here. 

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