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The total for the first six months of fiscal 2007-2008 to date was $22,759,093 compared to the comparable July through December period last year, $21,977,064. The city was up 6.3% through December 31, and that trend continues, Harwood told WPCNR.
In January and February 2008, Harwood reports the city received $7,656,720 in sales tax receipts, which is up 4% over last January and 6.5% over last February – bringing the city sales tax handle to $30,415,813 with four months left. The city needs to generate $43 Million to meet the 2007-2008 budget.
Last year the city collected a record sales tax of $44.9 Million ($44,853,308). If the second half of 2007-2008 generates last year's January through June collections of $22.8 Million the city will make its sales tax target ($43 Million), with a surplus, of $2.5 Million ($45.6 Million). The city needs $15,143,000 ($3.8 Million a month) to reach the $45 Million level.
To meet the sales tax budget of $43,000,000, the city needs to generate $3.2 Million per month through March, April, May and June. |