Shawnee City Commission: City sales tax collections down, but outlook holding steady
Shawnee city sales tax collections are down for May, compared to the same month a year ago.
According to sales tax reports, sales and use tax collections totaled $1,743,447.19 for May 2020.
“It should be noted the budget for the last three months of FY 2019-2020 has been adjusted in response to COVID-19,” Ashley Neel, finance director and city treasurer, said. “For the year, sales tax collections are up $455,253 or 2.30 percent over the projected budget year-to-date.”
Use tax collections are up approximately $465.033, or 27.25 percent over the projected budget year-to-date, she said.
“We have a few unexpected expenditures, obviously, with COVID, but at this moment our revenue is still supporting our budget and we are constantly monitoring that,” she said. “According to current calculations we can be about 17 percent below budget in June and still make our sales tax for the year.”
Neel reports the May sales tax deposit was $1,561,504.19, including interest of $1,596.12, to be allocated as follows:
• General Fund — $892,288.12
• 2018 Capital Improvements Fund — $223,072.03
• Capital Improvements Fund — $172,880.82
• Street Improvements Fund — $195,188.01
• Economic Development Fund — $22,307.21
• Police Sales Tax Fund — $27,884
• Fire Sales Tax Fund — $27,884