Sedalia’s Finances Strike ‘Very High Note’
The Sedalia City Council heard a glowing review of the City's finances from Dawn Jennings Monday night.
Finance Director Jennings said that sales tax revenue for the past month was up over last year, for a total of $1,061,031, an increase of $155,885, or a 17.1 percent increase. Last year's sales tax revenue stream was heavily affected by the pandemic, it should be noted.
Use taxes are down by $379 over last year during the same time period, or a .03 percent drop. Total use tax revenue was at $115,132 for last month, compared to $115,511 for last fiscal year, but not a huge difference.
Sales tax and use tax money, added to franchise and cigarette, transportation and property taxes, bring the total for last month to $1,557,972, a $201,149 increase, or a 14.8 percent increase over last year's revenue.
“It's looking great for the year,” Jennings told the Council, adding that city finances are striking a “very high note.”
Year-to-date totals show tax revenue collections at $2,702,796, a 12.1 increase overall from last year's figures, an additional $292,164.