Friday, June 12, 2009

Tough Medicine: Sales Tax Still Off for June

Unfortunately, the tough news continues when it comes to our revenues.

We received our June sales tax results yesterday, which represents March sales activity (which may have been the low point of the economy, if the general media discussion is any barometer). Our June receipts were down 8% compared to the same month in 2008--a steep fall, but at least higher than the 10% fall we saw in May. State-wide, sales tax receipts were down 10% for June.

Because we have been erring on the side of the caution, we had already assumed a 10% reduction for June because of the 10% reduction realized in May, which prompted the cuts we made last months across departments.

1 comment:

Chris Anderson said...

Forgive me for being obtuse, but how do you know what the sales tax receipts for the month of June are on June 15?

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