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City starts fiscal year with budget-beating sales taxes

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Last edited 9:15 a.m., July 24, 2018

The city of Springfield’s first sales tax check of its new fiscal year came in above forecasts.

The July check from the Missouri Department of Revenue was $4.7 million, about 5 percent ahead of the $4.5 million amount city officials expected for the month, according to a news release. The check is flat from the same month a year earlier.

For its new fiscal year, the Springfield Finance Department announced it will start reporting a 12-month rolling average on a monthly basis. The 12-month average for sales taxes is currently $489,102, pointing to the average amount the city has been above budget for the past 12 months, said Finance Department financial analyst Brandie Fisher.

“We feel that offering this additional data will provide a more consistent and realistic perspective of the city’s sales tax revenue throughout the entire year, rather than just on a month-to-month basis,” Springfield Finance Director David Holtmann said in the release.

Springfield uses sales tax revenue from the Department of Revenue to fund the Police and Fire departments and other public services. Roughly 56 percent of the city’s general fund comes from sales and use taxes.

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