Revenues up in West Memphis
Southland collections improve city’s finances
news@theeveningtimes.com
Revenues from Southland Casino Racing led the way with a huge jump on the West Memphis tax collection reports submitted to city council during its August first meeting.
Both the city sales tax and the tourism collection remained flat year-to-date.
On the heels of a $415,000 budget amendment for a record annualized pay increase for city workers, Southland paved the way for hopes to sustain the increased payroll, funding city park redevelopment, and establishing a depreciation fund to systematically replace aging police, fire and sanitation vehicles in the budget for 2020.
The July increase reported from Southland was the healthiest of the three revenue streams. The largest tourist attraction in Arkansas improved 22.27 percent up $63,336 for July. The big increase reflected the beginning of live gaming at the casino this spring. July marked the third straight month with a $50,000 or greater increase from Southland.
The double digit monthly increase boosted Southland’s year-to-date contribution to the city coffers into double digits for the year too. Southland stood 12.37 percent over last year with a $251,641 increase year-to-date. The casino has produced $185,408 more than the city budgeted expectation.
“The new tax format stands to deliver increased taxes from Southland, even if they do no more than last year,” said City Treasurer Frank Martin, “and that is very likely given the 60 new live game tables.”
City sales tax revenue remained flat, up .55 percent for a $22,207 year-to-date improvement. Five of the seven months this year showed a slight increase.
The advertising and promotion commission tourism tax was up year-to-date through the end of June, the last month reported.
Taxes on prepared food and hotel rooms a 2.47 percent bump for a $18,598 climb.
The A& P tax out paced last year during two months this year with four months in the red.
