The City of Guthrie got some great news this week when the sales tax numbers for October and first part of November were released to the city. The city received $593,029 this month for sales tax revenues. That is a 14.4 percent increase over sales tax numbers for the same time period in 2018 when the city received $518,240. That is a $74,789 increase over a year ago.
The other good news is that the December numbers also represent a 2.5 percent increase over the 2017 numbers of $578,611 when the city experienced an exceptional sales tax revenue year.
The city had set the budget at $6,323,415 for the current fiscal year that goes through September 2020. The city is currently $82,122 ahead of those projections after the first quarter of the fiscal year with $1,675,141 in revenues so far this year.
The other growing category is the use tax which with internet sales continuing to grow the use tax has also increased over the last couple of years. The December report shows the city received $69,562 this year which is up $21,000 over the 2018 numbers of $48,604. That is an amazing 43% increase in a year. It is even more amazing is that in 2017 before this tax was getting utilized the city only collected $22,463. That is a 210 percent increase in two years.
The city budget plan was written for $642,325 and through the first quarter of the fiscal year the city is at $179,369 or 28 percent of the forecasted budget for use tax collections.
The next two months will be crucial to the city as their budget forecast is for over $1 million in sales tax revenues and another $140,000 in use tax revenues.