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Finance Director Tracy Turbak will be making his monthly report at the informational meeting at 4 PM. So far, the sales tax growth is even more dismal than last year. For the first 3 months we are at 0% growth. Ouch.
Since I am not an economics major, I really can’t tell you why this downward spiral is happening. Obviously the farm economy isn’t doing well, but with Sioux Falls having so many residents, you would think this would not affect us this much. I still kind of wonder if we really didn’t recover from the last recession. Wages continue to be stagnant, and that is obvious with all the food banks growing and the lack of affordable housing.