The city’s financial picture has changed again with the arrival of the sales tax disbursement for October.

The city received more money from the Oklahoma Tax Commission than had been budgeted for this month — not enough to pull the city out of its financial hole, but still better than expected.

The city received $963,524 in sales tax disbursements on Monday.

That’s $6,952 more than had been budgeted for October. It’s also $107,129 more than the OTC returned to the city during the same time last year.

Acting City Treasurer Steve Harrison says that with the money now on hand, along with some budget adjustments and additional revenue through utility collections, the city should be set to make payroll through Nov. 5.

The city is still not up to budget, however.

“For the year to date, we’re about 1.5 percent below budget,” Harrison said. “We’re about $60,000 under the budget.”

The fact that city sales tax disbursements exceeded the amount budgeted for the first time since the new fiscal year began on July 1 doesn’t mean sales tax revenue is rising each month, however.

Ironically, the city actually received less in sales tax revenues in October than in July, August or September.

For example, the city received $971,949 in sales tax disbursements in July, when $1,025,806 had been budgeted.

City Manager Susan Monroe said the bottom line is that the better than expected sales tax disbursement for October will be helpful in meeting payroll and keeping the doors open at City Hall.

“We’re still here,” she said.



Contact James Beaty at jbeaty@mcalesternews.com.

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