Though Jefferson City sales taxes have missed projections for the month, the city is anticipating ending the fiscal year with a surplus.
At the Finance Committee meeting Thursday, interim Finance Director Bill Betts said the city's new revenue forecast model is projecting the 2014 fiscal year will end with more than $149,000 in surplus funds, largely due to an increase in franchise and utility tax revenues.
That surplus, Betts said, is despite sales tax projections failing to meet projections for the month. March receipts, which reflect the January reporting period for sales taxes, showed the 1 percent general sales tax came in $87,512 behind projections, putting the tax $24,466 behind projections for the year to date.
The half-cent capital improvement tax came in $47,528 behind projections for the month, putting it $20,915 behind for the year to date.
The half-cent parks sales tax came in $51,480 behind projections for the month, putting it $21,371 behind for the year to date.
"Overall though, it's not that bad," Betts said, referring to the model's projection of a surplus.
As of Feb. 28, the city's franchise and utility tax is $163,813 above projections for the year to date.