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Sales tax receipts down 17% year-over-year; city reported $54,500 shortfall from projections
Summary
City staff reported a year-over-year sales tax decline of roughly 17% and said the municipality is about $54,500 below projections, though they described June as an unusually strong month.
City staff told council members that year-over-year sales tax receipts showed a roughly 17% decline compared with the prior year and that the town is about $54,500 under its budget projections.
A staff presenter said, "There is an ugly minus 17% there. I'm really not scared yet. We're about 54,500 under flush projections, but, June was a very high month." The presenter did not report any immediate budget actions tied to the variance during the meeting.
The sales tax report included a department sales tax comparison between the prior year and the current year. Staff characterized the June receipts as strong, which partially offset the overall decline. No formal budget amendment or vote was recorded in the transcript.
