SIOUX FALLS, S.D. (MITCHELLNOW) Just three months into the year, Sioux Falls city officials are already sounding the alarm over falling revenues. Finance Director Shawn Pritchett recently informed city councilors that sales tax collections are significantly lagging behind projections. (:14) The city had anticipated a 6 percent growth in sales tax revenue for the year, but early numbers suggest that target won’t be met, triggering discussions of potential budget cuts. Pritchett is also assessing the longer-term impact of a property tax relief package passed by the state legislature this year, which could further affect city finances in the years ahead. For more Government stories from MitchellNow.com, Click Here.
Sioux Falls Officials Brace for Budget Cuts
Sioux Falls city officials are raising financial concerns just three months into the year, as sales tax revenues fall short of projections. Finance Director Shawn Pritchett reported to the city council that anticipated 6% growth in sales tax collections is unlikely to materialize, prompting early discussions about potential budget cuts.
