May city sales tax shows bounce back from 2020 shutdown
As the COVID-19 pandemic continues to ease up in the area, the Shawnee city sales tax collection report for the month remains steady — thanks to months of a tightened belt after the city first initiated a 12.5 percent reduction, later loosening it to 8.5 percent reduction to its projected budget. Last year at this time showed significant decreases, while the COVID-19 pandemic kept businesses shut down during April and May.
This month, however, shows a push upward; Ashley Neel, assistant city manager, reports the sales tax deposit was $2,415,162.07, including interest of $1,256.61, to be allocated as follows:
• General Fund — $1,380,092.61
• 2018 Capital Improvements Fund — $345,023.15
• Capital Improvements Fund — $267,392.95
• Street Improvements Fund — $301,895.26
• Economic Development Fund — $34,502.32
• Police Sales Tax Fund — $43,127.89
• Fire Sales Tax Fund — $43,127.89
Sales and use tax collections totaled $2,675,853.18 for May 2021.
According to Neel's report, this month's sales tax receipts totaled $853,658 more than last year's collections for May, which was $1,561,504.
“It should be noted the current sales tax estimate for FY 20-21 is based on a 3 percent reduction compared to the prior year budget,” Neel said in her report on this week's City Commission agenda.
For the year, sales tax collections are up $2,243,407 or 11.38 percent over the projected budget year-to-date, she said.
“Use tax collections are up approximately $23,583, or 1.03 percent, over the projected budget year-to-date,” she said.
Sales tax receipts for the year are $21,964,731, a little more than $2.2 million over the projected budget. Year-to-date Use Tax receipts show $2,315,979, up $23,583 (1.03 percent) compared to last year at this time, which was $2,171,774.
Use Tax for May 2021 was a recorded $260,691, compared to May 2020, which was $181,943.
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