According to the August sales tax report from the Oklahoma Tax Commission, revenue for sales tax was down slightly, while use tax saw an increase compared to the same period last year, Chief Financial Officer/Treasurer/City Clerk Jason Muninger said Monday.
“Sales tax revenue was $1,992,146, which is down $14,000, or 0.7 percent, compared to August 2023,” Muninger said.
The collection was 2.18 percent or $83,000 over budgetary expectation.
Use tax, which is sales tax applied to online sales, was up $41,000, or 11.2 percent, compared to the same period last year, Muninger said. Use tax collection was 12 percent or $86,000 over budgetary expectation.
“We budgeted very conservatively on estimates for the coming year,” said Muninger. “We also have contingencies in place so we can weather the storms financially.”
The 2024-25 Fiscal Year, which began July 1, included a 1 percent decrease in the budget.