Early sees big monthly spike in sales tax revenue
Early City Administrator Ken Thomas had a quick explanation for what caused the city's large increase in sales tax revenue this month.
"My wife went shopping," Thomas joked.
Early's sales tax allocation from the state for March — a reflection of January sales — reflected a 25 percent increase over the March 2013 allocation. This month's allocation was $80,274, compared with March 2012's $64,103.
"It came as a shock, I'll admit that, to see that much," Thomas said of the large increase. "It was a pleasant surprise."
Year-to-date, Early has received $279,240, a 9.9 percent increase over last year's $254,145.
Brownwood was the only Brown County municipality with a decrease. March 2014's allocation of $423,088 was 1.8 percent small than last March's $430,961.
"That’s a very small change," City Finance Director Walter Middleton said. "This is the first month during this fiscal year that we have had a reduction. Prior to March, we had five straight months of increases.
"It would be unrealistic to expect every month to increase during the year, so a minor dip such as this is not a cause for concern. Hopefully, this is just a one-month anomaly and we will go back to growing percentages next month."
Year-to-date, Brownwood has received $1.58 million, a 5 perce
In Bangs, the March allocation of $9,105 was 11.2 percent higher than last March's $8,190. Year-to-date, Bangs has received $32,282, a 5.3 percent increase over last year's $30,658.
Blanket's March allocation of $2,523 was 133 percent higher than last March's $1,083. Year-to-date, Blanket has received $7,497, a 51.5 percent increase over last year's $4,947.
The total for all four municipalities in March was $514,992, a 2.1 percent increase over last March's $748,602. Year-to-date, the municipalities have received a total of $1.9 million, a 5.9 percent increase over last year's $1.8 million.
Texas Comptroller Susan Combs said today state sales tax revenue in February, also a reflection of January sales, was $2.2 billion, up 5.8 percent compared to February 2013.
“Sales tax revenue continues its growth streak and has now increased for 47 consecutive months,” Combs said. “Growth in tax collections was seen across all major economic sectors including oil and gas, wholesale trade and the services sector.”
Combs is sending cities, counties, transit systems and special purpose taxing districts their March local sales tax allocations totaling $553 million, up 4.1 percent compared to March 2013.