Information from the Texas Comptroller indicates that City of Tyler sales tax revenues deposited for the month of March have decreased 4.19 percent as compared to the same period in 2009. This translates to $108,790 less funding than in the same month in 2009. Year-to-date revenues have declined 9.49 percent with a total revenue decrease of $1,768,184.
“The statewide monthly average decrease was 6.80 percent,” commented City Manager Mark McDaniel. “Tyler is rebounding better than many other communities around the state and country due, in part, to our diverse economic base.”
The reported revenue of $2,490,399 is comprised of $1,660,266 general sales tax revenue and $830,133 half-cent sales tax revenue. The figures represent receipts from January 2010 collections, as there is a two-month period before revenue is reported.
“Although the decline in sales tax revenue is significant, it is beginning to level off,” said City Manager Mark McDaniel. “In November and December our shortfalls were nearly $300,000 each month. I am pleased to see this upward trend; however, we will continue to monitor receipts closely and maintain the actions we have taken to ensure we end the fiscal year in a positive position.”
Actions in place at this time include a hiring freeze, limited training and curtailing non-critical spending.