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July financials: Brentwood staff report modest summer sales-tax decline, rising use tax from online purchases
Summary
At the Sept. 4 Ways and Means meeting finance staff presented July financial statements and a revenue analysis showing sales-tax receipts running about 3% lower in some funds while use taxes rose (1% in July, 4% in August), which staff said may reflect increased deliveries rather than store purchases.
Finance staff presented July financial statements and revenue analyses at the Sept. 4 Ways and Means Committee meeting and described recent sales-tax and use-tax trends.
Why it matters: Sales-tax receipts are a major revenue source for municipal operations; downward trends could affect future budgeting if sustained.
Michelle told the committee that year-to-date interest earned and other earnings were summarized in the packet and that July sales-tax trends were lower in some funds. She said the use tax was "up" and noted specific month-to-month changes: "I will say that in the general fund that the use tax is up. I believe in July, it's up 1%. The use tax in August is up 4%." Michelle said the dollar decline in sales tax was in the range of $60,000 to $100,000 and that seasonal patterns (summer spending lower than holiday season) and timing (July postings reflect June spending) reduce immediate concern.
Another committee member noted peer finance officers reported similar June-to-August results, with sales taxes hovering around 3% down in those jurisdictions. Committee members agreed staff should continue monitoring trends but that no immediate corrective actions were required.
Ending: Finance staff will continue to monitor revenue trends and present updates with the monthly financials.
