Title: Tulsa Area Monthly Sales Tax Revenue
Post by: Composer on January 21, 2008, 04:23:26 pm
Here are the monthly sales tax numbers for the Tulsa area for January 2008. This represents spending from November 16th to December 15th, which includes the big day after Thanksgiving shopping day known as Black Friday. (http://www.tulsaworld.com/articleimages/2008/200801_A11_hThef07414_1.19tax.jpg) quote:
The full impact of December's ice storm and power outages has yet to be seen, however.
Holiday spending filled the coffers of area municipalities, with Tulsa seeing a 4.5 percent jump in sales-tax revenue for January over the same month last year.
"We're pleased with the numbers," city Budget Director Pat Connelly said. "We exceeded our budget projections."
The check from the Oklahoma Tax Commission for $18,962,735 was for a collection period from Nov. 16 to Dec. 15. That includes the traditionally lucrative post-Thanksgiving shopping frenzy. The 4.5 percent growth, which amounts to about $800,000, was ahead of what city officials had expected by 1.9 percent. Tulsa is still lagging about 1.2 percent behind for the fiscal year, which began in July.
"I'm hopeful we can make up that ground," Connelly said.
Tulsa could face some hurdles, though, he said.
The revenue impact from the Dec. 9 ice storm that rendered 246,000 homes and businesses in the metro area powerless for days won't be realized until the February check. Even though a large portion of the storm's aftermath falls in the January check's collection period, the second half of each period is based on estimates instead of actual receipts. The monetary difference is typically made up the second month.
"It's really hard to say what will happen," Connelly said.
"Certainly it affected everyone's regular shopping patterns, but people also bought a lot of things they wouldn't have under normal circumstances, like generators."
City officials are also closely watching the national economy's recent downturn, he said.
January sales-tax revenue in area towns also was up.
Glenpool was the leader, with 34.5 percent growth over the same month last year. Glenpool Finance Director Tricia Morris said the construction of a new Wal-Mart Supercenter, set to open in April, was a big factor.
"I think you're going to be seeing a lot going on in our community this year," she said.
Other towns showing double-digit revenue gains were Jenks, up 18.5 percent; Coweta, up 16.8 percent; Bixby, up 13.8 percent; Collinsville, up 13.5 percent; Owasso, up 12.7 percent; and Broken Arrow, up 11.2 percent.
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