Oklahoma City sees an unprecedented decline in sales tax receipts
Heidi Rambo Centrella
5.26.2009
For three consecutive months, Oklahoma City saw a drop in sales tax receipts over the same months last year – a first for Forbes’ “recession-proof” city. Mayor Mick Cornett says he is disappointed and unsure how the city will plan its 2010 budget with these numbers.
“This is the time of year when your budget forecasters need to have some degree of certainty about the amount of revenue that’s going to be coming into the city so that we can properly budget the hundreds of millions of dollars, literally, that we expect to be coming into this city,” Cornett says. “I’m concerned about it.”
Budget Director Craig Freeman introduced a proposed 2009-2010 fiscal year budget at the May 5 City Council meeting. Council is scheduled to vote on the budget at its June 16 meeting. The budget will become effective July 1.