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Owasso reports July sales and use tax collections below budget after prior months’ surges
Summary
Finance staff reported July sales-and-use tax collections about 0.6% below budget—roughly $25,000—following two prior months that were above budget; staff said timing shifts in collections may explain the variance.
Finance staff told the council that July sales-and-use tax collections totaled roughly $25,000 below budget—about 0.6% under the expected amount—and that both sales tax and use tax portions were roughly $12,000 under budget each.
Staff noted that recent months had been well above budget (May collections were 3.2% over budget and June was 6.6% over budget) and said the July shortfall likely reflects continued timing shifts in how payments are recorded rather than a sustained downturn. "This is not how we were hoping to start the new fiscal year. I'm not entirely surprised because of the last 2 months, collections were way over budget," staff said.
No budget actions were proposed during the meeting; staff offered to answer council questions about trends and projections.
The council took no formal action during the report.
