Sales tax revenue spikes

10/5/2012

By DAWNE LEIKER

dleiker@dailynews.net

An unprecedented increase in general fund sales tax collections for the city of Hays was reported by Kim Rupp, finance director during last week's Hays City Commission meeting.

August sales tax collections were $671,019, an increase of $115,458 or 20.7 percent when compared to last year.

That brings year to date general fund sales tax collections up $364,041 or 8.03 percent. The six-month running average for sales tax collections increased 8.48 percent.

Month-to-date sales tax collections for Bickle/Schmidt Sports Complex were $237,610, an increase of $45,878 when compared to last year.

Year-to-date collections are $1.9 million, and inception-to-date collections total $8.9 million.

The .05 percent sales tax will stop at the end of March. Using an average of the last eight months, Rupp projected total sales tax collections for the sports complex will approach $11 million.

"The amount of collections that come in over and above the $8 million price tag will be kept in reserves for future maintenance of the complex, just as we have with the swimming pool," Rupp said.