The Moore American

Local News

June 18, 2014

Sales tax up for year

MOORE — While Moore and Norman sales tax receipts are up again this month, Purcell is lagging, a likely link to the bridge closure.

Fiscal Year 2014 ends June 30 and the June 9 deposits are the final sales tax receipts for the fiscal year.

Moore experienced strong growth in sales tax, receiving $2,598,084 in June compared to $2,314,903 for the same period last year.

“It was a very good month,” Moore Finance Director Jim Corbett said. “For the month, it was an increase of 12.2 percent. And for the year, it was up 8.2 percent.”

Use tax was down slightly this year, with receipts of $64,453 compared to $70,747 last June. That wasn’t enough to dampen the overall general fund revenue.

“We finished very strong for the fiscal year,” Corbett said.

All of Moore’s general fund revenues at this time are tracking well.

“We are right at our budgeted amount,” Corbett said. “We budgeted $32.2 million in general fund revenues. As of today, we have exceeded the budgeted revenues for the year and there are two weeks left in the year.”

Enterprise funds will be more challenging for Moore — the utility fund covering water, sewer and garbage lost hundreds of customers following the May 20, 2013, EF-5 tornado.

Though Moore has several wells it also relies on water from Oklahoma City under contract for a set usage.

“We buy more than half of our water from Oklahoma City,” Corbett said.

Moore lost utility customers, including homes and big water users like the hospital, the 7-Eleven and the bowling alley, as well as the strip mall at 19th Street and Santa Fe Avenue.

“That fund is way behind. At the moment, it is $3.4 million below the budget. There’s been significant loss of revenues there,” Corbett said. “We’ll make up some of those revenues by the end of the year, but there’s a sizable loss.”

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