The city of Wichita released its fourth quarter financial report Tuesday.
The city says financial activity in 2021 was very good. While some revenues have not reached pre-pandemic levels on an annualized basis, they note that there is momentum. Despite various challenges, the outlook is trending better than earlier estimates and will likely be revised upward.
The city's general fund had a $1.4 million surplus in 2021. Sales tax grew 12.3 percent as the city collected $7.1 million in taxes in December, the highest in 36 years. City leaders say that inflation is a component of that sales tax growth.
In the short term, revenues in 2022 should exceed prior estimates but that inflationary pressures could increase expenditures.
The city plans to update its projections in April.