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City manager: sales and use tax collections finish fiscal year about $12 million below budget; city will use fund balance
5112628 · July 2, 2025
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Summary
City Manager reported a roughly $12 million shortfall in sales and use tax for the fiscal year and said the city will draw about $6 million from reserves while continuing to monitor finances.
The city manager reported to the Oklahoma City Council that June sales and use tax collections left the city roughly $12,000,000 below budget for the fiscal year and that the city will use about $6,000,000 of general fund balance to cover the gap.
The council was told the city closes its financial books about a…
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