WM tax revenues a mixed bag 3/4 of the way through 2017

WM tax revenues a mixed bag 3/4 of the way through 2017

Southland revenues up, sales, A& P figures lagging behind

news@theeveningtimes.com

“It was a bad month,” said West Memphis City Treasurer Frank Martin.

The finance director presented mixed results on the most recent tax collection figures to the city Budget Committee during its September meeting.

The city’s sales tax revenues were down. The Advertising & Promotions tax was down. The only ray of sunshine came from Southland Gaming & Racing which looked to be on track to surpass the $3,000,000 collected in 2016 collection for the city’s general fund.

Southland-generated revenue for September was nearly $263,000, a 9.43percent increase over the same month last year. The increase for the month amounted to $22,641. Tax money collected from Southland has outperformed 2016 figures in eight of the nine months this year. Revenue from the largest business in the city is up 8 percent overall, with a $180,000 bump through the first three quarters of the year.

“That was the best one of the three,” said Martin as he turned to the figures for general sales and A& P figures. “Now it is going to go downhill quick.”

The hamburger tax collection was off seven percent, $9,400 lighter than August of 2016. The monthly deficit amounted to a twothirds portion of the yearto- date negative totals.

A& P receipts are off $14,500, an almost 8-percent drop through 2017.

The A& P collections lag behind the budgeted plan by $31,500.

Sales tax declined for the fifth out of nine months this year after four consecutive positive months for the city. “Sales tax was down $41,000 for the month,” said Martin. “$125,000 year-to-date from last year.

It was a bad month.”

While the news was far from good, Martin pro- jected the city would weather the setback.

“We had four good months,” he noted, “so I think we have a good shot of coming in right around budget because I was very conservative on projecting the budget.”

By John Rech