Sep 9th 2016 | Posted in Texas Government Insider by Texas Government Insider

The Texas Comptroller has released totals for fiscal 2016 state revenues and monthly state revenues for August.

Net revenue available for general purpose spending after severance tax revenues are set aside for transfer to the Economic Stabilization Fund (ESF) and the State Highway Fund (SHF) was $49.9 billion, 1.3 percent below the Certification Revenue Estimate (CRE) projection of $50.6 billion. Sales tax revenue for the year was $28.2 billion, 3.5 percent below the CRE projection of $29.3 billion.

 

State sales tax revenue in August was $2.5 billion, down 2.6 percent compared to August 2015. Total sales tax revenue for the three months ending in August 2016 is down 1.7 percent compared to the same period a year ago. For details on all monthly collections, visit the Comptroller’s Monthly State Revenue Watch.

Sales Tax Allocations

The Texas Comptroller will send cities, counties, transit systems and special purpose taxing districts $629.2 million in local sales tax allocations for September, 1.4 percent less than in September 2015. Cities will receive $411.3 million, up 1.6 percent from Sept. 2015. Counties will receive $36.7 million, down 7.4 percent. Transit systems will receive $142.9 million, down .1 percent. Special purpose taxing districts will receive $38.3 million, up 1.9 percent. Visit the Comptroller’s Monthly Sales Tax Allocation Comparison Summary Reports for more information.