The decline in September collections of the 1-cent sales tax Hot Springs levies in support of its General Fund put the total for the first three quarters of the year 0.21-percent behind last year's pace.
The city reported $1,053,667 in September collections, a 0.78-percent decline compared to the $1,062,000 collected in September 2016. The $9,782,173 collected through the first nine months is $20,264 short of last year's mark. According to the city finance department, collections haven't fallen short of the previous year's total since 2009.
Monthly collections declined in five of the first nine months, including slides of 8.56 and 5.32 percent in February and April. September's decline followed a 6.44-percent upswing in August.
Collections are 3.10 percent behind the $10,097,409 projected for the first three quarters and have fallen short of budget projections in each of the first nine months.
The city's 2017 budget projected $13,541,026 in annual receipts after the sales tax raised $12,581,866 in 2015 and $13,122,238 last year. Next year's budget projects $13,384,683 in 2018 receipts. The half-cent sales tax the city collects for its police and fire funds is projected to raise $6,692,342 next year.
The Hot Springs Advertising and Promotion Commission reported September collections of the 3-cent sales tax it assesses on prepared foods and lodging inside the city fell 1.22 percent. The $4,832,758 collected through the first nine months is 2.77 percent ahead of last year's mark.
According to the commission, the tax is assessed on 78 hotels and motels and 304 restaurants and food trucks. The city code stipulates the proceeds be used to promote the city and support the maintenance and operation of the Hot Springs Convention Center. The tax generates about $6 million a year.
Garland County reported the half-cent sales tax it collects in support of its General and Solid Waste funds netted $724,184 in August, a 1.49-percent increase over last year. The $5,966,293 collected through the first eight months is 1.57 percent ahead of last year's mark.
Eighty percent of the proceeds benefit the General Fund, and 20 percent goes to the Solid Waste Fund.
Local on 11/30/2017