The city’s sales-tax receipts remained healthy in April as returns increased by about $100,000 compared with 2011.
The city took in $710,164 in adjusted revenues from the city’s half-cent sales tax in April compared with $610,122 in adjusted revenues in 2011. Manhattan actually took in $777,423 in gross receipts, but the difference represents collections taken from the north end redevelopment area. The collections go toward TIF bonds.
Because of a lag time in processing, the receipts generally represent purchases made in February.
“Local retail sales for this period (mostly February sales) remained strong, and nearly every retail sector of the community was higher compared to a year ago,” said Bernie Hayen, city finance director.
The receipts exceeded the city’s adjusted forecast of $700,000 for the month but failed to meet the budget of $725,000. Despite falling short of the budget for the month, Manhattan is still in the black. The city exceeded budget projections in January, February and March and is ahead of the overall 2012 budget by $219,582.
In the first four months of 2012, Manhattan has collected $3.27 million in revenues from the city’s half-cent sales tax.
Additionally, sales-tax receipts in the first four months of 2012 have exceeded sales-tax receipts in the first four months of 2011 by an average of $69,530.