Sales tax receipts miss projections again
City officials optimistic gap is narrowing
Wednesday, June 26, 2013
Jefferson City sales tax receipts have missed projections again, but officials say they are optimistic that receipts are improving.
At the Finance Committee meeting Tuesday, interim Finance Director Bill Betts said the collections for the 1 percent general sales tax came in almost $5,500 below projections for June, but the difference between projections and what is collected is narrowing.
For receipts received in April, the city was almost $75,000 below projections. In May, the city was $30,000 below projections.
“We’re still behind for the year on sales tax,” Betts said. “It looks like we’re starting to close that gap.”
The total shortfall for the year so far is $95,000, but Betts said city staff is confident additional vacancy savings should cover the difference.
The city’s half-cent capital improvement sales tax came in about $16,000 below projections, putting the total shortfall for the year at $57,000.
The half-cent parks sales tax, however, came in $43,117 above projections, covering any previous shortfall for the year and putting the receipts $27,000 above projections for the year.
In other business, the
committee voted to recommend the approval of a three-year contract with Evers & Company, a local firm, for the city’s auditing services. Evers & Company has served as the city’s auditor for about 20 years, Betts said, with the exception of one year in 2005 or 2006 when the city tried a different firm.
The three-year contract would cost $117,600 and will be moved forward to the full City Council for approval next month.
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