April 2020 Sales Tax & Use Tax Report

The City of Edmond continues to have limited information concerning the impact of COVID-19 on the city’s revenue stream. The most recent sales tax reimbursement period from the state includes the last two weeks of February and the first two weeks of March, said Larry Stevens, city manager.

“For the year our sales tax collections are up a little more than 6%. It’s slightly down from 6.6% a month ago.” Stevens said. “Use tax collection actually increased a little for the year to about 11.4 %. That’s up from 10.5%.”

Combined sales and use tax reimbursement to the city for the first 10 months of fiscal year 2019-20 is down from 7.4% from the end of last month.

“All of these numbers compare very favorably with our 10% budget for sales tax, and the 5% projection for use tax,” Stevens said. “So when we get the next set of data we will start to see a little bit more of what we need to look at. So next month we’ll see where we stand.”

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