The sales tax revenue numbers are in for the City of Guthrie from the Oklahoma Tax Commission (OTC). The report issued prior to 89ers Week covers the sales tax period of February 16-28 and estimated sales of March 1-15.
The state reported revenues for the state at $179.4 million which was an increase of $34.7 million over the 2021 numbers for the same time frame. Guthrie received $622,073 which was 12-percent higher than a year ago and $68,075 more than a year ago. Last month the city received $610,042 in sales tax revenues. The budget for the year is $7.8 million and the city is at $4.550 million seven months into the fiscal year.
The next reporting period which covers Easter sales was at $702,785 in 2021, so it could be a challenging month ahead.
“Sales tax revenues have been strong for Fiscal year 2022 to date. I do not want to spread doom and gloom, but in fiscal year 2021, July sales tax revenues dropped five percent and August was up six percent, and September was back down two percent. We need to realize sales tax revenue may not stay at 11-percent average increase for every month for the balance of fiscal year 2022. Do not start spending future revenue quite yet,” said Guthrie City Clerk Kim Biggs in an email to the city staff and city council.
The sales use tax revenues received were $78,924 which was $3,985 or five percent more compared to April 2021. The city has budgeted $1.1 million off the sales use tax and has collected $643,632 so far in the first seven months of the fiscal year. The city collected $74,924 last month which was down from the $117,735 collected back in February off the Christmas sales period. The state distributed $27.7 million to cities and towns in use tax this month.
The Logan County share of sales tax was $283,890 on the OTC report compared to $225,798 last year. The OTC distributed $30.3 million to the 77 counties across the state in revenues this month. The sales use tax revenues were at $68,341 for the county compared to $49943 in 2021. The state gave out $5.4 million to the various counties that collect sales use tax across the state this month.
The fiscal year for Guthrie ends on September 30.