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February 21, 2013

Norman sales tax tracking below budget

NORMAN — Sales tax collections for the city of Norman are up this month with February receipts 11.87 percent above collections for the same time last year, but that figure is misleading, according to Norman Finance Director Anthony Francisco.

Norman’s sales tax dipped 8.5 percent below 2012 figures last month due to a collection anomaly.

“We had a bit of an unusual circumstance where a couple of major retailers reported late, so revenue from those retailers is not reflected in the report that we received in January. We expect that it will be caught up in the report that we receive in February,” Francisco said at that time.

The Oklahoma Tax Commission remitted over $5.9 million to Norman this month, making up last month’s loss, but Francisco said for the year, sales tax is tracking slightly below budget predictions.

Collections are about 3 percent above 2012 collections, but below the 4 percent budgeted by the city.

Public Safety Sales Tax receipts for February were $539,066.

This month Moore received $2,404,324, which is up from February 2012 receipts of $2,303,024.

Joy Hampton

366-3539

jhampton@

normantranscript.com

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