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Port Orchard finance staff report mixed revenue: sales tax down, REIT receipts strong
Summary
City finance staff reported a third consecutive month of year-over-year declines in sales tax receipts while real estate excise tax (REIT) collections were well above prior-year levels and budget, and staff pledged a full monthly budget report and fund-balance details.
Port Orchard finance staff told the finance committee on April 15 that sales tax receipts were slightly lower year over year for the third straight month, while real estate excise tax (REIT) collections came in well above prior-year levels and budget.
Noah Crocker, City finance staff, presented the revenue update and said “it looks like we were slightly down again for the third straight month on sales tax revenue” and that “the budget's still positive, though.” Crocker…
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