City sales tax, state sales tax and highway user revenue funds (HURF) collections are all up slightly for the City of Holbrook compared to this time last year.
As of the end of January, the city had received a total of $2,062,789 in city sales tax revenues this fiscal year. That is up by $19,538, compared to the $2,043,251 the city took in between the start of the 2013-14 fiscal year and the end of January 2014.
City sales tax revenues dropped slightly in January this year, though, which reflect slower sales over the Christmas season compared to the previous year. The city took in $246,423 in city sales tax in January 2015, compared to $298,598 in January 2014. Robust collections in the summer months, however, have helped the city stay ahead of last year’s total so far.
State shared sales tax collections are also up slightly over last year, coming in at $255,866 as of the end of January. Last year during the same period, the city collected $244,862, an increase of $11,004.
The state sales tax collections have not followed the city sales tax pattern precisely, and in the current fiscal year totals have been up slightly every month over the same month of the previous year, but the differences are only slight, leading to the total $11,004 increase over the 2013-14 fiscal year. Sales tax revenues received in January this year totaled $38,382, compared to $35,974 the previous year.
HURF revenues, which have been down for several years thanks to sweeps by the state legislature, have increased so far this year. As of the end of January, the city had received a total of $360,313 in HURF funds. Over the same period last year, the city received $341,585, for a total increase of $18,728. As with the state sales tax, there have been no radical jumps in monthly collections, but slow and steady increases over the past year have helped the city to accumulate a slightly higher total.
Between the three revenue sources, the city has collected a total of $48,270 more than it did at this same time last year. While not a large sum compared to the city’s overall budget, it is an improvement over recent years in which revenue from these same sources steadily decreased.
