Sales tax revenues are up in Chapel Hill, but the town's Business Management Director Ken Pennoyer says figures for the last few months are not the highest the town has seen.
During Monday's Town Council meeting, Pennoyer said sales tax revenues for Dec. 2011 though Feb. 2012 were the highest ever recorded for those months. In an e-mail to Town Manager Roger Stancil this week, he corrected the claim:
"I checked the numbers (see attached) and in FY2007-08 December and February were higher than FY2012. The correct characterization would have been that January 2012 was the highest ever for that month and December and February were the second highest ever recorded for those months.
If you look at the combined three month period (Dec, Jan, & Feb), 2012 is the highest we have recorded by about 2.5% for the three month period. Because December, January and February collections represent November, December and January sales I think it is a positive indicator that we had the strongest holiday sales tax returns on record."
See Pennoyer's power point presentation on the town budget attached below.
