Nov. 23, 2019
Chris Clubine, management analyst for the city of Lee’s Summit, presented a look at financial dashboards to the city council’s finance and budget committee last week.
The first quarter for the city’s fiscal year 2020 shows the general fund’s year-to-date revenues are about a half percent short of the budget estimates (revenues of about $13.25 million, short about $67,800 to the budget).
The biggest shortfall is in sales tax, with local sales tax revenues about 3.5% short of budgeted estimates and down compared to previous year actuals by about 2%.
“This is a data point that will be watched closely,” Clubine says.
Bette Wordelman, director of finance, added that the city now has access to sales tax receipts data for October and November as well, and the total for the first five months of the fiscal year (July through November) is down 3.3% in a year-over-year comparison.
“We’ve been very fortunate in the past, but for any municipality to think that internet sales are not going to have a huge effect – they do,” Councilmember Diane Forte said, adding that the city should keep an eye on those trends.
Councilmember Bob Johnson agreed, noting that adding in data from FY19 shows a nine-month downward trend in sales tax revenues. He also noted the value that shopping offline can have for local businesses and the local economy.
Councilmembers Bob Johnson, Diane Forte and Trish Carlyle and Mayor Pro Tem Beto Lopez were all present for the committee’s Nov. 11 meeting.