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Aug 12

August 12, 2020 TML Coronavirus Update #102

Posted on August 12, 2020 at 4:00 PM by TML Staff



What’s the latest from NLC related to city fiscal conditions?


The National League of Cities invites you to the City Fiscal Conditions report release event! The event will take place tomorrow (August 13) at 9:00 a.m. Texas time.


With virus-related economic consequences expected for years to come, Mark Zandi (Chief Economist of Moody's Analytics) will join NLC to reflect on the findings presented in the report and the broader impact of local fiscal health on national economic recovery.


In its 35th year, the report has become the nation's most trusted barometer of the financial well-being of cities, towns, and villages across the country.


What’s the latest update on sales tax collections?


According to the Texas comptroller, his office distributed $909 million in monthly sales tax revenue to local governments today (August 12). His press release is as follows:


“Texas Comptroller Glenn Hegar announced today he will send cities, counties, transit systems and special purpose taxing districts $908.7 million in local sales tax allocations for August, 3.6 percent more than in August 2019. These allocations are based on sales made in June by businesses that report tax monthly and on sales made in April, May and June by quarterly filers.


Widespread social distancing requirements were more relaxed across the state in June than in previous months.