January sales tax hits budget

That’s pretty good news, all things considered. The city expected to take in $15.2 million in sales tax revenue in January, and it did. Still, it’s only the second time in the past two years that the budget forecasts have been correct. And, for the year, we’re off budget projections by 7.5 percent.

Does this mean that sales tax collections have turned the corner? Your guess is as good as mine. Next month’s numbers should help answer that.

Here is our handy clip and save sales tax chart for the 2009-10 fiscal year. The basics: The sales tax accounts for abut 22 percent of the city general budget; another 43 percent comes from property tax receipts. The official figures are on the state comptroller Web site. The months listed on that site are, for accounting purposes, about two months ahead, so the March result listed is for January.

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