3/9/2015 - Sedalia Sales Tax Finishes Fiscal Year Strong
Sedalia Sales Tax Finishes Fiscal Year Strong
The end of the City of Sedalia’s fiscal year saw some very strong sales tax numbers. The Year-To-Date (YTD) total is 8.6% above this time last year. The projected YTD figure is 1%. The monthly total is even higher. When compared to last March, this month’s report is 36% higher.
During a recent City Council work session, it was pointed out that if the March sales tax report is weak, the projection for FY16 might have to be lowered from 4% to 3%. However, with a YTD increase of 8.6%, the city budget team, made up of the Mayor, former and current Finance Directors and the City Administrator, feels comfortable recommending to the City Council that the sales tax projection stay at 4%. Final budget approval is scheduled for March 16th.