The six-month streak of year-over-year increases in monthly receipts of the 1-cent sales tax Hot Springs levies in support of its general fund has ended.
August collections remitted in September fell 4.41 percent compared to August 2015, according to figures the city's finance department released Tuesday. Collections are still up for the year, with the $8,740,438 collected through August outpacing the first eight months of 2015 by 5.08 percent.
The sales tax raised $12,581,866 for the general fund last year. The city also collects a half-cent sales tax for its police and fire funds, with 60 percent going to the police department and 40 percent to the fire department.
The $1,010,669 collected in August was $46,588 less than what was collected the previous August and $39,141 below the budget projection.
Visit Hot Springs CEO Steve Arrison said the slowdown was expected in light of last August having an additional weekend and three weekends rather than two before the start of school. He said receipts of the 3-percent tax the city's advertising and promotion commission assesses on prepared food and lodging followed suit, falling 8.56 percent in August.
"It's just the way the calendar fell," Arrison said. "School started back a week early. School needs to start after Labor Day. We need to talk to our legislators about that."
The growth streak began in February with a 22.85 percent increase relative to the previous February. Receipts grew by 5.9 percent in March, 5.14 percent in April, 7.27 percent in May, 2.72 percent in June and 3.94 percent in July.
August collections of the half-cent sales tax Garland County levies in support of its general and solid waste funds rose 1.6 percent compared to the previous August. The $802,099 was $12,803 more than what was collected in August 2015. The $6,668,784 collected through the first eight months is 3.55 percent ahead of the 2015 pace.
Local on 10/26/2016