EDMOND — Edmond's sales tax collections for this fiscal year were more than $1.2 million over budget projections.
City Manager Larry Stevens said the June check was 7.3 percent above last year's collections.
“It was significantly above our 2 percent budget projection,” Stevens said. “Our most critical revenue source continues to trend upward.”
The growth rates for the last four months have ranged from 18.01 percent to 7.3 percent.
“That is a very healthy growth the last four months,” Stevens said. “Our cumulative increase for the full year is 6.44 percent, up slightly from 6.29 percent a month ago.”
The city received a $3,874,722 check this month from the Oklahoma Tax Commission, representing collections for the last two weeks of April and the first half of May.
The city deposited $2,384,444 for the June check into the general fund.
Sales tax money that does not go into the general fund is divided among firefighters, the police department, parks and capital improvements as designated by voters.
Shoppers in Edmond pay an 8.25 percent sales tax on purchases; 4.5 percent goes to the state, and 3.75 percent of the money is returned to the city.
The city has collected $889,010 from an additional half cent sales tax that started April 1 to pay for a new public safety center.
“It appears we are continuing to trend toward what may be a more realistic long-term level,” Stevens said. “This is positive news.”
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