Have sales tax collections been affected by decreased oil prices and drilling activity in the region?

Yes, oil prices started a precipitous drop in August of 2014 when it was $100 per barrel, eventually bottoming at $32 per barrel in February of 2016. Sales tax collections began a 25 month contraction period in March of 2015, with an average month-over-month decrease of -4.1% over the period. The contraction turned the corner to positive in April of 2017, however, realizing an average month-over-month increase in recent months of +5.6%.

Show All Answers

1. Is the City in good financial condition?
2. Have sales tax collections been affected by decreased oil prices and drilling activity in the region?
3. Ponca City does not seem to be experiencing the same fiscal stress and layoffs that I read about in other communities across the country. Why is that?
4. How much is sales tax in Ponca City?