The finance staff has published the financial report for the Month of May, 2010. As I last mentioned, February and March both had increase sales tax year over year. April did also, albeit a modest gain. And that was the good news.
Unfortunately, May 2010 was drastically down in sales tax collected compared to May 2009. For the year, sales tax collection is down 3.5% compared to last year. Unfortunately, budget projections planned on a modest sales tax increase - so the sales tax compared to budget is off by 5.4%.
This of course has implications for the 2010-11 budget. Over the next few weeks I will delve into that some.
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