Posted by Michael Hetrick
TYLER, TX (KLTV) - Information from the Texas Comptroller indicates that the City of Tyler current period sales tax revenues have decreased 11.59 percent as compared to this period in 2008. Year-to-date sales tax revenues have declined 2.52 percent for the current fiscal year resulting in a total budget shortfall of $1.4 million so far, $100,000 more than earlier projected.
The reported revenue of $3,243,800.59 is comprised of $2,162,533.73 general sales tax revenue and $1,081,266.86 half-cent sales tax revenue. The figures represent receipts from June collections, as there is a two month period before revenue is reported.
"The shortfall the City is experiencing is significant," said City Manager Mark McDaniel. "However, with the steps we took in January to freeze several positions and curtail spending, we are expecting to end the fiscal year in the black."