City of Ardmore brings in just under $2 million in sales tax revenue from October
Despite the ongoing pandemic, retail sails remain strong within the City of Ardmore. During the month of October, retail sales amounted to just over $53,000,000 and brought in a total of $1,992,000 in sales tax revenue for the city.
Finance Director Sandy Doughty said the city receives tax revenues roughly two months after the money was first spent, so they only recently received the collections from October. She said October tax collections exceeded those from September by approximately 2.5%. They were also up over the amount collected in 2019 by slightly more than 5.5%.
While the numbers are good, Doughty said sales tax collections are at only 43% of the amount budgeted for the fiscal year which runs from July 1 to June 30.
“Right now we’re still a bit under what we had budgeted,” Doughty said. “We’re at only 43% of collection right now, but we’re half way through our year. So we’re a little bit under what we had budgeted but I anticipate January and February came help make up for that because those numbers will come from people out Christmas shopping in November and December.”