There's good and bad news in the City of Tulsa's October sales tax revenue for mid-August to mid-September as reported by the Oklahoma Tax Commission.
According to a news release from the city, sales tax revenue for the period totaled $19,597,029. That is a 1.8-percent increase from the same period in 2012, but it's 2.9 percent below the budget estimate for the month.
The release says year-to-date sales tax collections are up 1.3 percent for this fiscal year compared to last fiscal year, but the amount is 3.9 percent below the year-to-date budget estimate.
"It is our fiduciary obligation to plan for expense reductions and stay ahead of these challenges," Mayor Dewey Bartlett said. "We have dealt with more difficult situations successfully before, and this will be no different."
According to the release, use tax revenues for the same period totaled $1,782,110, down 3.2 percent from the same period in 2012, and 0.889 percent below budget estimates for the month.
Year-to-date use tax collections are up 6 percent for this fiscal year compared to last fiscal year, and 0.747 percent below the year-to-date budget estimate, according to the news release.