Posted: August 23, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF082824-04

Agenda Item Title:

Acknowledge the First Half 2024 Sales Tax Report

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
08/28/2024
City Council Hearing Date:
09/03/2024
Petitioner:
Finance Department
Staff Contact:
Daniel Ainslie
Location:
Council Chambers
Agenda Item Summary:
The attached charts include a summation of sales tax received during the first quarter of 2024. The General 2% Sales Tax collected in the first quarter was 2.75% higher than collections in 2023. Total General Fund Sales Tax collections are trending $485,427 lower than budgeted. The Tourism Sales Tax collected for the 1st Quarter of 2024 was 3.5% higher than collections in 2023.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Acknowledge

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