Stillwater News

Stillwater’s November sales tax collections under budget by 1.19 percent

Released:Nov 20, 2017

 

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MEDIA RELEASE

(STILLWATER, OKLAHOMA / Nov. 20, 2017) – City of Stillwater Chief Financial Officer Melissa Reames said the City received $2,438,935.83 in sales tax on September 2017 transactions that were remitted to the Oklahoma Tax Commission in October 2017 and apportioned to the City in November 2017. This is a $6,149 (0.25 percent) increase from receipts in November 2016. However, the amount is down by $11,866 (0.10 percent) year-to-date (YTD) and under budget by $147,217 (1.19 percent).
 
Use tax received in November 2017 totaled $181,363.79, which was up $22,555 (14.20 percent) from November 2016. The amount is also up $138,397 (21.02 percent) YTD and over budget by $297,466 (59.57 percent). Use tax collections continue to offset the shortfall in sales tax collections.
 
Cigarette/tobacco tax remitted in November 2017 totaled $33,691.55, which was up $592 (1.76 percent) from November 2016 and is up YTD by $4,834 (3.29 percent) and over budget by $12,755 (9.16 percent).
 
Lodging tax for September 2017 transactions reported to the City in October 2017 was $71,791.18. This is under October 2016 by $28,817 (28.64 percent), over YTD by $4,232 (1.43 percent) and over budget by $23,577 (8.55 percent).

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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.


Stillwater sales tax collections are down 1.76 percent compared with October 2016

MEDIA RELEASE

(STILLWATER, OKLAHOMA / Oct. 12, 2017) – City of Stillwater Chief Financial Officer Melissa Reames said the City received its sales tax on August 2017 transactions that were remitted to the Oklahoma Tax Commission in September 2017 and apportioned to the City in October 2017. The amount totaled $2,720,977. This is a $48,757 (1.76 percent) decrease from October 2016, a $18,015 (0.18 percent) decrease year-to-date (YTD) and under budget by $126,441 (1.28 percent).
 
Use tax apportioned in October 2017 was $165,199. This is a $23,405 (16.51 percent) increase from October 2016, a $115,842 (23.19 percent) increase YTD and over budget by $236,544 (62.43 percent). The use tax overage compensates for the sales tax shortfall. Cigarette/tobacco tax apportioned in October 2017 totaled $31,531, which is $5,730 (22.21 percent) ahead of October 2016, a $4,252 (3.73 percent) increase YTD and over budget by $10,391 (9.63 percent).
 
Lodging tax remitted in September 2017 on August 2017 transactions totaled $77,282, which is $15,911 (25.93 percent) over September 2016, an increase of $33,050 (16.99 percent) YTD and over budget by $45,800 (25.20 percent).
 
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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.


Stillwater YTD sales tax collections are 0.44 percent higher than this time last year

MEDIA RELEASE

(STILLWATER, OKLAHOMA / Sept. 18, 2017) – City of Stillwater Chief Financial Officer Melissa Reames said the City received its sales tax on July 2017 transactions that were remitted to the Oklahoma Tax Commission in August 2017 and apportioned to the City in September 2017. The amount totaled $2,497,230.32. This is $239,128 (10.59 percent) higher that September 2016.

Year to date (YTD) sales tax is $30,742.01 (0.44 percent) higher than YTD collections in 2016. Sales tax is under budget by $47,028.84 (0.66 percent). Use tax collections for September were $142,792.45.

YTD use tax is higher than last year by $92,437.27 (52.01 percent) and over budget by $178,883.00 (65.92 percent). Cigarette/tobacco tax remittance was $25,411.59. YTD cigarette/tobacco tax is lower that YTD collections in 2016 by $1,477.92 (1.67 percent) and over budget by $3,272.38 (3.92 percent). Lodging tax as of August 2017 was $150,284.85, which is $17,139.34 (12.87 percent) higher than 2016 and over budget by $25,866.78 (20.79 percent).

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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.


Stillwater sales tax collections are 1.18 percent above same month in 2016

MEDIA RELEASE

(STILLWATER, OKLAHOMA / Aug. 14, 2017) – City of Stillwater Chief Financial Officer Melissa Reames said the City received its sales tax on June 2017 transactions that were remitted to the Oklahoma Tax Commission in July 2017 and apportioned to the City in August 2017. The amount totaled $2,229,400.99. This is up $26,078.12 (1.18 percent) from the same month in 2016.

Sales tax year to date (YTD) is $208,386.28 (4.37 percent) below 2016 YTD collections and under budget by $261,165.04 (5.42 percent).

Use tax received in August was $13,353.47 (8.80 percent) under the same month in 2016, but YTD is $43,317.95 (16.40 percent) ahead of 2016. Use tax is over budget by $107,133.02 (53.48 percent), which partially offsets the shortfall in sales tax. The YTD cigarette/tobacco tax is $1,198.97 (1.99 percent) ahead of this time last year and is over budget by $4,437.58 (7.79 percent). Lodging tax for July 2017 totaled $83,456.74 and was $9,082.67 (12.21 percent) higher than July 2016. Lodging tax is over budget by $13,957.75 (20.08 percent).

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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.


Stillwater sales tax collections are 9.14 percent below same month in 2016

MEDIA RELEASE

(STILLWATER, OKLAHOMA / July 17, 2017) – City of Stillwater Chief Financial Officer Melissa Reames said the City received $2,330,914.91 in sales tax collected for May transactions, which were remitted to the Oklahoma Tax Commission in June and apportioned to the City in July. This is $234,464.40 (9.14 percent) below collections for the same month last year and under budget by $262,857.35 (10.13 percent). According to OTC, the shortfall in sales tax is a timing difference in remittance from 2016 to 2017.

Use tax apportioned to the City in July totaled $169,016.68, which is $56,671.42 (50.44 percent) higher than collections for the same month last year and over budget by $83,813.11 (98.37 percent). Cigarette/tobacco tax apportioned in July exceeded last July by $5,321.48 (19.01 percent) and exceeded budget by $6,827.92 (25.78 percent). Lodging tax finished FY17 ahead of FY16 by $65,045.26 (8.82 percent) and over budget by $102,609.58 (14.66 percent). 

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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.


Stillwater sales tax collections under 1.79 percent for year

MEDIA RELEASE

(STILLWATER, OKLAHOMA / June 21, 2017) – City of Stillwater Chief Financial Officer Melissa Reames said the City received $2,269,103.15 in June for sales tax collected on April transactions. This is down $607,907.94 (2.12 percent) for fiscal year 2016-17 from fiscal year 2015-16. Sales tax finished FY17 under budget by $510,883.06 (1.79 percent).  

Merchants remit sales tax collected monthly to the Oklahoma Tax Commission on behalf of the City of Stillwater. June’s sales tax receipts represent sales from April.

Use tax finished FY17 ahead of FY16 by $312,085.81 (up 25.92 percent) and over FY17 budget by $466,333.83 (44.41 percent). This overage will help offset the shortfall in sales tax. Cigarette tax finished FY17 below FY16 by $5,469.34 (1.59 percent) and under budget by $1,798.42 (0.53 percent). Hotel room tax finished FY17 ahead of last year by $59,794.25 (8.11 percent) and over budget by $97,358.57 (13.91 percent).
 
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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.


Stillwater sales tax collections see small bump

MEDIA RELEASE

(STILLWATER, OKLAHOMA / May 19, 2017) – City of Stillwater Chief Financial Officer Melissa Reames said this month's sales tax collections exceeded collections for the same month last year by $7,039 (0.31 percent). However, sales tax receipts overall are below budget by $459,431.68 (1.75 percent) and behind last year-to-date by $548,584.13 (2.08 percent).
 
“While we welcome the small bump in sales tax collection, the yearlong trend is still downward,” Reames said. “We continue to monitor the city’s budget and encourage staff to deliver exceptional yet efficient municipal services.”
 
Merchants remit sales tax collected monthly to the Oklahoma Tax Commission on behalf of the City of Stillwater. May’s sales tax receipts represent sales from March.
 
Reames said use tax continues to exceed expectations with receipts for May exceeding the same month last year by $52,290.64 (52.70 percent), over budget by $404,650.23 (41.60 percent) and ahead of last year-to-date collections by $261,752.58 (23.46 percent). The positive variance on use tax will offset the negative variance on sales tax.
 
Cigarette tax receipts are down $1,858.18 (7.09 percent) from the same month last year and down $8,381.10 (2.68 percent) year-to-date compared to last year and under budget $5,034.64 (1.62 percent).
 
Lodging tax collection is up $11,164.30 (20.94 percent) from the same month last year, up $56,480.48 (9.48 percent) year-to-date and over budget by $86,838.26 (15.35 percent).
 
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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.


City sales tax collection off by 2.31 percent compared with this time last year

MEDIA RELEASE

(STILLWATER, OKLAHOMA / April 20, 2017) – City of Stillwater Chief Financial Officer Melissa Reames says for the fifth month in a row Stillwater’s sales tax collections were below what they were the same month the prior year. Merchants remit sales tax collected monthly to the Oklahoma Tax Commission on behalf of the City of Stillwater.

Reames reported that the City’s year-to-date (YTD) sales tax collections were down 2.31 percent from YTD fiscal year 2016 collections and is under budget by $474,184 (1.98 percent). April’s collections represent sales that happened in February 2017.

“The percentage of year-to-date decline is not as important as the consistent downward trend,” she explained. “We look at these trends and are making adjustments in the current fiscal year and planning accordingly for the upcoming fiscal year.”

The City’s fiscal year 2018 general fund budget does not include funds for capital projects.

Additional Stillwater YTD tax collections are as follows:

  • Use tax collections are up 20.61 percent from YTD fiscal year 2016 collections and over budget by $339,650 (38.33 percent).

  • Cigarette/tobacco tax collections are down 2.27 percent from YTD fiscal year 2016 collections and under budget by $3,456 (1.22 percent).

  • Lodging tax collections are up 8.35 percent from YTD fiscal year 2016 collections and is over budget by $72,958 (14.16 percent). Fiscal year 2017 lodging tax budget was reduced from $800,000 in fiscal year 2016 to $700,000 in fiscal year 2017. During fiscal year 2017, a payment agreement was reached with a motel for past due taxes and interest. As of April 2017, $33,000 have been collected on the past due tax.

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For media inquiries, contact the Office of Marketing and Public Relations at 405.742.8219 or email news@stillwater.org.

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