Oklahoma City’s latest sales tax report shows collections were down 0.65 percent from January 2013.
Overall, sales tax collections are up 0.85 percent for the fiscal year that began July 1. That’s below the city’s target of 3.8 percent growth.
Sales tax is the single biggest contributor to OKC’s annual budget, which for the first time exceeds $1 billion.
The city council will get an update on Oklahoma City’s finances at its annual budget workshop Feb. 4.
At last year’s workshop, economist Russell Evans offered council members three forecasts for growth in sales taxes ranging from 2.6 percent to 7.1 percent.
Evans said then that trends in personal income and manufacturing were positive.