TYLER — Information from the Texas Comptroller indicates that City of Tyler sales tax revenues deposited for the month of March have increased 1.75 percent as compared to March 2011, resulting in a modest 1.07 percent cumulative year-to-date increase.
The reported revenue of $2,569,304.39 is comprised of $1,712,869.59 general sales tax revenue and $856,434.80 half-cent sales tax revenue. The figures represent receipts from January 2012 collections as there is a two-month lag before taxes are reported and remitted back to the City from the State.
“It is good to see that there is a slight increase this month after two consecutive months of lower collections,” said City Manager Mark McDaniel. “However, we had planned for the revenues to grow by three percent this fiscal year. Therefore, we have implemented a soft hiring freeze as a precautionary measure to ensure we are keeping our expenses in balance with current revenues and are scrutinizing spending closely. In addition, we will continue the postponement of any employee pay adjustments.”