Following two years of plateauing and a one year decline in sales tax receipts for the City of Amarillo, sales tax collections have increased 4.55% in the month of May with an overall increase of 1.97% for the 2017-2018 fiscal year as compared to this same time last year.
This translates to approximately $737,000 in revenue generated toward the City’s General Fund which provides for City departments including Police, Fire, Streets, Parks & Recreation, Library, Public Health, Animal Management & Welfare, and Building Safety.
Currently, the City has collected sales tax receipts totaling approximately 69% of the conservatively budgeted $55,563,044 for 2017-2018 with the months of June, July, August, and September yet to be accounted for.
Collections to date reflect sales receipts ending in March 2018.
Sales tax revenue is the largest source of funding for the City, accounting for approximately 32% of the City’s General Fund revenues. To respond to variations in revenues, the City maintains policies which track revenues and expenditures closely