The March sales tax report for Tulsa shows slight gains against budget expectations — a change seldom seen this fiscal year as the city still faces a $5.53 million shortfall.
The report, which reflects Tulsa sales tax receipts from mid-January to mid-February, shows a paltry gain of 0.43 percent — or $92,641 — against the amount anticipated in the budget of $21,424,759.
But the slight upturn stands out in a year that has seen month after month of revenue failing to meet budget expectations.
According to the report, sales tax revenue for the year is $5.13 million, or 2.79 percent, behind the amount expected in the budget.
The total expected sales tax revenue for the fiscal year to date is $184 million. That revenue largely goes toward day-to-day expenses like salary and other operations needs. But at 2.79 percent behind that estimate, the city has only received $178.9 million, leaving the $5.13 million shortfall.
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Use tax, a similar but less-substantial revenue alongside sales tax, is also under-performing, according to the report.
For the year, use tax has brought in $17.69 million, which is $397,153 behind budget expectations.
In total, shortfalls in use tax and sales tax have left the city’s major source of operations revenue behind by $5.53 million with several months to go in the fiscal year.
