Last Updated on August 3, 2022, 9:49 PM | Published: August 3, 2022
OKLAHOMA CITY (Free Press) — General Fund collections for the City of Oklahoma City have come in higher than this month last year according to the July sales and use tax report.
In addition, the receipts are 10.3% higher than projections for sales and use taxes combined for this period.
“The July sales and use tax continue a trend of monthly revenue exceeding our projections. And we’re hopeful that that trend continues into the near future,” City Budget Director Christian York told Free Press.
July is the first month of each fiscal year. We are in Fiscal Year 2023 or FY23.
Comparisons to July’s report in the last fiscal year, which was FY22, show that the City’s receipts are up over all categories in sales and use taxes except for use tax for services.
However, the one blip on the screen is that the use tax for services receipts for this July over last July shows a drop in receipts by 16.7%.
Randall Lewis, assistant city treasurer, said that the one segment, “services” applies to services that are not always active to draw a use tax. He said that during the previous period there were a few hospitals that were doing some big projects that were taxed by the City. But, now, they have completed those projects and so those receipts are down.
However, the sales tax for services during the same period was up by 18.1% over FY22.
All other sales tax categories from July of FY22 to this July show increases, the lowest of which was retail which has stayed fairly consistent from year to year in the past.
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Founder, publisher, and editor of Oklahoma City Free Press. Brett continues to contribute reports and photography to this site as he runs the business.
