January sales and use tax receipts were positive for the City of Edmond, said Larry Stevens, city manager.
“We had a very good month for our most critical source of revenue,” Stevens said.
Sales tax collections increased by 5.9 percent over January 2018 from $3,020,027 to $3,198,525. Use tax collections increased from $779,841 to $952,689 ( 22.16 percent) from the same period a year ago, Stevens added.
“This was also the highest monthly total we have ever had for those combined receipts since we started combining those together,” Stevens continued.
The first seven months of fiscal fear 2018-19 is 8.9 percent above FY 2017-18 when considering sales tax and use tax revenues, he said. The FY 2019-20 sales tax is set to begin in June.
January’s sales tax reimbursement from the state represents the last half of November and the first two weeks of December.