The good news is that El Paso County sales tax collections are up from last year. The bad news is that collection totals are about $1.75 million below budgeted projections for thils year.
As of July 31, El Paso County had collected about $39 million in sales tax, up 0.5 percent from the amount collected between January and July last year.
However, the actual sales tax collections of $39,255,742 are currently below the budgeted amount of approximately $41 million, causing a 4.57 percent decrease from the approved budget.
To remedy the decrease, the county’s financial department plans to work with other departments and elected officials to evaluate spending, postpone purchases and continue to work with the state on 2005 and 2006 sales tax collection discrepancies.
“While resolving the discrepancies with the state may alleviate this year’s shortfall, the commissioners are exploring all options for balancing expenses with revenue in 2007,” said Board Chair Dennis Hisey. “We will receive another report in November with revised 2008 sales tax projections reflecting current economic conditions,” he added.