May sales tax revenue is up but the city's budget is not out of the woods for 2018

By  | 

RAPID CITY, S.D. (KEVN) May sales tax revenue numbers were discussed Wednesday at the legal and finance committee meeting.

The city reports that numbers were up point-.92 percent for the year so far when compared to the same 5 months last year.

Last month, officials said revenue was down for the first four months of the year -- but Mays' revenue kicked things up to a relatively normal outlook.

However, the budget did project a higher dollar amount which may cause some budget shortfalls in the near future.

Pauline Sumption, Rapid City finance officer says, "However, when we look a our cash balances and what was budgeted for revenue coming in total and expenditures that were budgeted, if we are to spend all the money that we have budgeted for expenditures and receive only that money which we projected to receive, at the end of the year we will be about 2 million short in our cash reserves for the general fund."

Sumption had discussions with the mayor instructing all unnecessary expenses, including hiring, be delayed, pending an increase in sales tax revenue.