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| Monthly city sales tax proceeds drop a bit in month of November |
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By Jan Schultz The Imperial Republican After seven straight months with city sales tax proceeds over $30,000, Imperial’s monthly receipts dropped below that level in November, 2008. November marked the sixth smallest monthly total since the city started collecting the one percent tax in April, 2007. The Nebraska Department of Revenue deposited $26,366.88 in the Imperial’s account from November’s city tax proceeds. The city keeps a separate bank account for receipt of those funds. Of November’s proceeds, more than 10 percent, or $2,826.98, was earmarked for the city’s street department. That represents city sales tax dollars that were paid on vehicles registered by city residents. By law, those tax monies must go the street department. City Clerk/Administrator Jo Leyland said she didn’t know what might have affected the lower sales in November. She said it could possibly be a sign of the economic downturn hitting this area. She said she’ll be interested to see what December’s totals are and if they show a little more sales, with more shopping here for the Christmas season. The city sales tax proceeds, after the street department transfer is made, are divided 50/50 between economic development efforts and community projects. That distribution breakdown was approved by Imperial voters in the November, 2006, election. A citizens’ committee approves projects requesting economic development money, but those requests must also receive council approval. The council has sole approval over how the community projects account is spent. Most of the sales tax money in the community projects fund is paying off the bonds the city sold to help pay its portion of the pool complex costs. Monthly city sales tax proceeds April, 2007 $20,199.40 May, 2007 23,956.01 June, 2007 28,766.35 July, 2007 27,100.34 August, 2007 28,885.17 September, 2007 26,237.63 October, 2007 27,883.12 November, 2007 22,397.37 December, 2007 27,298.21 January, 2008 34,906.03 February, 2008 26,144.16 March, 2008 28,637.64 April, 2008 34,977.58 May, 2008 30,634.26 June, 2008 36,651.61 July, 2008 38,195.20 August, 2008 32,126.00 September, 2008 30,490.55 October, 2008 $32,342.49 November, 2008 $26,366.88 Total $584.196.00 |
