Mayor Dewey F. Bartlett Jr. said today that the City of Tulsa’s October sales tax revenue for mid-August to mid-September as reported by the Oklahoma Tax Commission, totaled $19,597,029, up 1.8 percent from the same period in 2012, and 2.9 percent below the budget estimate for the month.
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 if revenues continue to decline in the coming months,” Mayor Dewey F. Bartlett Jr. said. “We have asked departments to review their budgets for any possible reductions and we plan to meet with the City Council next week to address our options moving forward.”
Use tax revenues for the mid-August to mid-September period totaled $1,782,110, down 3.2 percent from the same period in 2012, and 0.88 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 0.74 percent below the year-to-date budget estimate.