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Interim finance director: DeSoto sales-tax receipts lag; board seeks industry breakdown
Summary
Interim Finance Director Nikita Sutton told the DeSoto Development Corporation board that sales-tax collections are tracking behind last year and requested more detailed, quarterly breakdowns by industry. Officials discussed impacts on the FY25–26 budget and noted interest revenue strength.
Interim Finance Director Nikita Sutton told the DeSoto Development Corporation board that the city’s sales-tax receipts are trailing last year’s pace and that staff will provide more detailed, quarterly breakdowns on request.
Sutton said the fiscal-year sales-tax budget is $2,700,000. “As of the June, we have received 1,600,000.0 of that. So that puts us at 60% on our, sales tax, which is tracking somewhat behind last year, which we were at 67% this time last year,” she said. The July report showed collections of about $1,900,000 and sales tax…
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