Sales tax receipts continue to climb

Monthly receipts of the 1-cent sales tax Hot Springs levies in support of its general fund showed a sixth straight year-overyear increase and outpaced growth from the previous month, according to figures the city’s finance department released last week.

July collections remitted in August rose 3.94 percent compared to July 2015. For the year, collections have exceeded the first seven months of last year by 6.46 percent.

The $1,187,121 collected in July was $45,051 more than the previous July and $73,521 more than the monthly projection.

The $7,729,768 collected through the first seven months exceeds projections by 5 percent. The general fund sales tax raised $12,581,866 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.

July’s year-over-year increase was stronger than the 2.72 percent in June, which followed gains of 5.9 percent in March, 5.14 percent in April and 7.27 percent in May. Visit Hot Springs CEO Steve Arrison said July’s receipts indicate the city continues to trend in the right direction.

“July was a strong summer month for the city, continuing the trend of good numbers for the Hot Springs economy through 2016,” he said.

Arrison said he expects a decline in August’s year-over-year total, as August 2015 had an additional weekend and three weekends rather than two before the start of school. The general fund tax collected $1,142,070 in August 2015. March and July are typically the city’s best months for collections.

July collections of the half-cent sales tax Garland County levies in support of its general and solid waste funds fell 1.26 percent compared to the previous July, according to figures provided by the county’s financial management office. The $790,957 was $9,946 less than last year. For the year, the $5,866,684 collected through the first seven months marks a 3.82 percent increase over 2015.