Edmond Oklahoma March Sales Tax Revenues Rock
- Apr 23, 2012 | Susan McLain
Edmond, Oklahoma city Finance Director Ross A. VanderHamm had to do a double-take and check his figures twice to make there was nothing wrong with their accounting for March revenues. According to the Edmond Sun, “The city’s March sales tax collection of 18 percent more than the same period of last year is not a fluke.” VanderHamm said he felt uncomfortable with the number until he found out the state “…had a 14 percent increase and the average city increase statewide was 12 percent.”
Part of the increase was not due to a long term increase that can be expected in future months. There was a significant increase in furniture sales and fixtures as a result of a store liquidation. According to VanderHamm, the city received twice what is normally collected for that industry.
There are only three more months of the fiscal year and with March collections, the city’s budget is on track. Collections have been $1.5 million over the $32.599 projected budget. “At three months left, I feel very confident we will meet the budget projection,” says VanderHamm.
Considering the challenges other states and localities have been expressing, that is a pretty good place to be.