For OKC sales tax, ‘another good month’

Strength in consumer spending is translating to consistently strong sales tax results for Oklahoma City.

Figures for the May reporting period indicated underlying consumer spending was up 5.3 percent in the last two weeks of March and first two weeks of April.

That builds on 4.2 percent growth last month and marks the 13th consecutive month of yearover-year gains in city sales tax collections.

Oklahoma City received a record $39,954,333.43 in May, a 12.1 percent increase over May 2017.

With one month left in the fiscal year, Oklahoma City has received $209.2 million for the general fund, the primary account for day-to-day expenses.

That is an $18 million, or 9.5 percent, increase

over the same time last year and $6.3 million above the budget target.

Sales tax has been bolstered in the second half of the 2017-18 budget year by the quarter-cent sales tax increase that took effect Jan. 1.

Voters approved the increase to strengthen police and fire services.

Sales tax is the city’s single-biggest revenue source.

Besides public safety and other core services, sales tax finances MAPS 3 and is financing $240 million in planned street improvements.

Sales tax revenue has been trending upward since May 2017, when Oklahoma City was emerging from a regional recession.

“May was another good month,” said Doug Dowler, Oklahoma City’s budget director.