Hayden sales tax revenues strong in April, May
August 1, 2012
Hayden — The town of Hayden is posting gains in sales tax revenues after a bumpy start to the fiscal year.
Finance Director Lisa Donaldson reported Wednesday that the town has earned $547,826 in sales tax revenues during the current fiscal year, which represents a 7 percent gain compared with revenue earned during the same period last year.
At the end of March, Hayden’s year-to-date revenues were down 2.5 percent.
Donaldson said Hayden saw revenue gains in recent months from Yampa Valley Regional Airport and from downtown businesses. She said about half of Hayden's sales tax revenues are generated at the airport.
Still, she said it's too early to celebrate.
"Economists and financial analysts are still saying to be cautious," Donaldson said. "We think there is going to be a flat recovery for a while yet. We need to remain cautious despite the 7 percent increase."
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The town collected $60,017 in sales taxes in May, a 50 percent gain from the $39,909 it collected in May 2011.
"This has been an overall increase," Donaldson said. “It’s not really specific to anything.”
The town budgeted for flat sales tax revenue this year. Donaldson said the postings year-to-date currently are 11 percent above budget.
Sales taxes in Hayden are collected two months before they are able to be recorded as revenue, meaning May's collections are the most recent revenues the town can report.
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