Current City sales tax collections continue to rebound

Released by The City of Tyler:

TYLER, TX - Information from the Texas Comptroller indicates that total City of Tyler sales tax revenues deposited for the month of January have increased 9.34 percent as compared to January 2010, resulting in a 4.98 percent cumulative year-to-date increase.

The reported revenue of $2,710,337.24 is comprised of $1,806,891.49 general sales tax revenue and $903,445.75 half-cent sales tax revenue. The figures represent receipts from November 2010 collections, as there is a two-month period before revenue is reported.

"The City budgeted for a two percent increase in our sales tax revenue for 2010-2011," said City Manager Mark McDaniel. "It is tremendous to see that we have already met that projection only four months into our fiscal year. Still, we have taken a very conservative approach in filling vacancies frozen last year and will continue to monitor expenditures closely as we prepare for the next fiscal year."