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Sedalia reports $175,000 sales-tax shortfall year to date; marijuana tax adds modest revenue
Summary
City finance staff told the council that fiscal year-to-date net sales tax receipts through May are down about $175,000 (2.7%) versus the prior year while the new at-register marijuana tax added roughly $12,000 to year-to-date collections.
The Sedalia City Council heard July 21 from finance staff on city revenue trends, including a reported fiscal year-to-date net sales tax decline of about $175,000, or 2.7%, through May. The presentation matters because sales tax is a major local revenue source and the shortfall contributes to a budget variance the city estimates at roughly $435,000 against an assumed 4% growth rate. Chairwoman Boggess introduced the presentation and Ms. Jessica, a finance presenter, delivered the figures. “Weare reporting through May sales. The net sales and use…
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