The mayor has passed along these figures that show how much the last A&P tax (which was overwhelmingly rejected by voters at the polls) brought in during its tenure:
August 8, 2012
To: Members of the City Council
From: David Morris
I have asked our City Clerk/Treasurer to furnish me with the amount of the collection of the former advertising and promotion (A&P) tax, that was collected in Searcy in 2009. As you know, the former A&P tax was one percent (1%) on prepared food and three percent (3%) on lodging. The tax was collected for approximately five and a half (5 ½) months.
The actual collections for the five (5) full months were as follows:
July 2009 $79,287.48
August 2009 $79,550.03
September 2009 $82,519.80
October 2009 $84,861.82
November 2009 $78,527.80
The average of these five (5) months of full collections is $80,949.39 per month. Assuming that monthly average continued, the annual revenue generated would have been $971,392.68.