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Owasso finance staff: February sales and use tax collections exceed budget
Summary
Finance presenter reported that February combined sales and use tax collections were about 4.3% over budget, with sales tax up about 2.85% and use tax up about 13.9% versus the prior year; combined year-to-date collections are roughly 3.2% over budget.
Tara Kuntz reported to the Owasso City Council that February sales and use tax collections exceeded budget expectations.
Kuntz said combined collections for February were 4.3% over budget year-to-date. She reported sales tax alone was about 2.85% higher than the prior year and use tax showed larger growth — roughly 13.9% over the prior year — driving the combined figure to about 3.2% over budget for the year. “The February sales and use tax collections were 4.3% over budget,” Kuntz said.
Councilors had no follow-up questions and praised the report as favorable revenue news. Staff did not propose policy changes at the meeting; the figure was presented as part of regular monthly financial reporting and will inform budget monitoring going forward.
