By Mark Scott
http://stream.publicbroadcasting.net/production/mp3/wbfo/local-wbfo-738297.mp3
Buffalo, NY – Erie County Comptroller Mark Poloncarz says there was a drop off in sales tax revenue during the second quarter.
The good news is that the amount of sales tax has not dropped below last year's level. It's just that revenues are not growing at the rate that was budgeted. And that's causing concern.
The growth rate fell to one-and-three-quarters percent in the three month period from April through June. That was down from the first quarter growth rate of nearly five-and-three-quarters percent, a rather precipitous drop according to the Comptroller.
If the trend continues, Poloncarz says there could be problems. He is calling on county officials to monitor finances and make any necessary cuts in spending to make sure the current year's budget remains in balance.
Indeed, his warning follows by just a couple of weeks a similar announcement from State Comptroller Thomas DiNapoli that cautioned all counties in New York to beware of declining sales tax revenue.
An influx of Canadian shoppers in the past year had provided a boost to the local sales tax numbers.