Unemployment is still up and the recession continues to make its mark but revenues generated from the Coweta County School System penny sales tax for education (ESPLOST) are on the rise. Revenues for the past year totaled more than $20.2 million, up more than $1.1 million over the previous year.
A report to the Coweta County Board of Education earlier this week showed ESPLOST collections from February 2011 through January 2012 at $20,216,442. That represents a 6.02 percent increase, or $1,147,087, over collections from the previous period running from February 2010 through January 2011 when collections totaled $19,069,355.
A review of ESPLOST revenues collected since the beginning of the recession showed that 2011 came closer than any of the past three years to obtaining the same revenue level. Collections in 2007 totaled $20.95 million followed by a slight increase to $20.99 million in 2008. Collections declined in 2009 showing revenues of $19.12 million followed by a further drop to $19.07 million in 2010.
The largest revenue collection month in the past few years came in December when $2.12 million was collected. It had been four years since monthly collections exceeded $2 million.