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Posted: January 24, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF012925-01

Agenda Item Title:

Acknowledge November 2024 Sales Tax Report

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
01/29/2025
City Council Hearing Date:
02/03/2025
Petitioner:
Finance Office
Staff Contact:
Daniel Ainslie
Location:
Council Chambers
Agenda Item Summary:
The charts attached include a summation of sales tax received for November 2024. The General 2% Sales Tax collected in November 2024 was 2.55% higher than collections in 2023 and collections for the first eleven months of the year were 3.42% higher than the same time period in 2023. The General Fund Sales Tax collection trend is 0.5% lower than budgeted. The Tourism Sales Tax collected for November 2024 was 17.75% higher than collections in 2023 and collections for the first eleven months of the year were 4.69% higher than the same time period in 2023.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Acknowledge

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