Sales-tax revenue continues upward

It was less than two weeks ago that I was writing to you about the City’s sales tax revenue being in the black at .88%, which was just a little below the 1% sales tax revenue growth the City Council budgeted for Fiscal Year 2009.

You will be pleased to know that the City’s sales tax revenue figures for the month of April came in at 20.83%, bringing the City’s year-to-date sales revenues to 1.65%. This is not only welcoming news, but I think it is also encouraging and promising news for the Rolla area and Meramec Valley Region.

When the City experiences a 20% spike in sales revenue like we did last month, you might ask yourself what market conditions were at play to make this happen. There are many variables to consider that may have influenced the strong sales revenue the City experienced last month. My guess is that it was a culmination of several factors, including an improved real estate market, the great turn out for the St. Pat’s Celebration, the “Shop Local” message that has been emphasized and promoted by the City, Rolla Chamber of Commerce and area merchants, and general stability of the Rolla economy where employment, wages and purchasing tends to remain consistent throughout various economic cycles.

When other cities and communities across America are experiencing double-digit unemployment, and considerable reductions in their sales tax revenues, it is encouraging to see that the City’s budget projection of 1% growth for 2009 is holding steady, and even being surpassed as of April. That is not to say, of course, that the City might experience some bumps and turns along the way, but with Rolla’s tourism season at our doorsteps, the economic future of Rolla is looking better every month. Let’s hope the upward momentum continues to swing our way.

I’d also like to remind everyone that City Hall will be closed on Memorial Day, Monday, May 25. Monday’s trash will be picked up on Tuesday and Tuesday’s trash will be picked up on Wednesday. The Rolla Chamber will be hosting two Memorial Day services on Monday, May 25, beginning at 10 a.m. at Rolla Cemetery (Hwy. 72 and Rolla Streets) and at 11 a.m. at Ozark Memorial Gardens on State Route 63 South across from G&D Steakhouse. Please plan to attend one of these Memorial Day services and pay tribute to all the men and women who have served or are now serving our country.