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Conway finance report: April sales tax down; city faces roughly $1.5 million budget gap if trend continues
Summary
Finance staff reported April sales tax down 1.9% month-over-month and 3.6% year-to-date; the city is monitoring revenues and maintaining a spending freeze. Council approved the April financials unanimously.
Finance staff warned the Conway City Council on May 27 that sales-tax revenues are down and that continued declines could create a sizable shortfall.
Tyler Wenningham, speaking to the council, said April sales tax collections were down 1.9% compared with April last year and that for the fiscal year to date collections were down about 3.6%. "If the current trend continues, we're gonna miss our sales tax budget this year by 1 and a half million," Wenningham said.
The nut graf: sales tax is the city’s…
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