Stillwater News

Stillwater sales tax collections see small bump

Released:May 19, 2017

MEDIA RELEASE

(STILLWATER, OKLAHOMA / May 19, 2017) – City of Stillwater Chief Financial Officer Melissa Reames said this month's sales tax collections exceeded collections for the same month last year by $7,039 (0.31 percent). However, sales tax receipts overall are below budget by $459,431.68 (1.75 percent) and behind last year-to-date by $548,584.13 (2.08 percent).
 
“While we welcome the small bump in sales tax collection, the yearlong trend is still downward,” Reames said. “We continue to monitor the city’s budget and encourage staff to deliver exceptional yet efficient municipal services.”
 
Merchants remit sales tax collected monthly to the Oklahoma Tax Commission on behalf of the City of Stillwater. May’s sales tax receipts represent sales from March.
 
Reames said use tax continues to exceed expectations with receipts for May exceeding the same month last year by $52,290.64 (52.70 percent), over budget by $404,650.23 (41.60 percent) and ahead of last year-to-date collections by $261,752.58 (23.46 percent). The positive variance on use tax will offset the negative variance on sales tax.
 
Cigarette tax receipts are down $1,858.18 (7.09 percent) from the same month last year and down $8,381.10 (2.68 percent) year-to-date compared to last year and under budget $5,034.64 (1.62 percent).
 
Lodging tax collection is up $11,164.30 (20.94 percent) from the same month last year, up $56,480.48 (9.48 percent) year-to-date and over budget by $86,838.26 (15.35 percent).
 
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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.


City sales tax collection off by 2.31 percent compared with this time last year

MEDIA RELEASE

(STILLWATER, OKLAHOMA / April 20, 2017) – City of Stillwater Chief Financial Officer Melissa Reames says for the fifth month in a row Stillwater’s sales tax collections were below what they were the same month the prior year. Merchants remit sales tax collected monthly to the Oklahoma Tax Commission on behalf of the City of Stillwater.

Reames reported that the City’s year-to-date (YTD) sales tax collections were down 2.31 percent from YTD fiscal year 2016 collections and is under budget by $474,184 (1.98 percent). April’s collections represent sales that happened in February 2017.

“The percentage of year-to-date decline is not as important as the consistent downward trend,” she explained. “We look at these trends and are making adjustments in the current fiscal year and planning accordingly for the upcoming fiscal year.”

The City’s fiscal year 2018 general fund budget does not include funds for capital projects.

Additional Stillwater YTD tax collections are as follows:

  • Use tax collections are up 20.61 percent from YTD fiscal year 2016 collections and over budget by $339,650 (38.33 percent).

  • Cigarette/tobacco tax collections are down 2.27 percent from YTD fiscal year 2016 collections and under budget by $3,456 (1.22 percent).

  • Lodging tax collections are up 8.35 percent from YTD fiscal year 2016 collections and is over budget by $72,958 (14.16 percent). Fiscal year 2017 lodging tax budget was reduced from $800,000 in fiscal year 2016 to $700,000 in fiscal year 2017. During fiscal year 2017, a payment agreement was reached with a motel for past due taxes and interest. As of April 2017, $33,000 have been collected on the past due tax.

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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.

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