Tulsa Sales Tax Shrinkage

Tulsa received 10.7% less in sales tax revenue for July than the year before, but close to the amount expected when the fiscal 2010 budget was developed.

The city received $16.5 million from the Oklahoma Tax Commission for the first month of fiscal 2010, down from $18.5 million in July 2008 but only $9,614 less than expected. The revenues reflect sales that occurred between May 16 and June 15.

Finance director Mike Kier said the monthly sales tax collections have been below expectations for the past four months.

Mayor Kathy Taylor proposed a $578 million budget for fiscal 2010, but later reduced expenditures to $567 million due to lower revenue projections.

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