Finance Committee Agenda and Packet 2011 08 22

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COUNCIL COMMUNICATION TO: MAYOR AND CITY COUNCIL FROM: MALCOLM FLEMING CITY MANAGER DATE: AUGUST 22, 2011 SUBJECT: SALES TAX REPORTS FOR THE MONTH ENDED JUNE 30, 2011 ORIGINATING DEPARTMENT: CITY MANAGER’S OFFICE SUMMARY: Attached are the monthly revenue reports for sales tax, lodging tax, auto use tax, consumer use tax and building use tax for the month ending June 30, 2011. Also included are monthly and quarterly reports on sales tax revenue by area and by industry. The total for all revenues is up 5.4% YTD over 2010. This increase includes the new consumer use tax. Total revenue is up 2.9% YTD excluding the consumer use tax. The month of June 2011 had a strong showing with sales tax revenue up 7.3% over that of June 2010 and .4% above 2010 revenue YTD. Sales tax revenues for 2011 are currently 2.1% above budget. Sales tax revenue for the top 50 vendors increased 1.5% for the month of June 2011, and is presently up .6% YTD. YTD gains remain in the following sectors; Grocery (3.7%), Hotels (12%), Restaurants (3.9%) and Technology (1.2%). The declining sectors include; General Merchandise (-1.6%), Home Improvement (-1.8%), and Telecom/Utilities (-6.6%). Lodging tax revenue increased 5% over June 2010 with YTD revenues 13.5% above 2010 revenue. Lodging tax revenues currently exceed budget by 18%. Auto use tax revenue for June 2011 continues its strong showing and increased 32% from June 2010 and is 12.6% above 2010 revenue YTD. Auto use tax revenues are currently 10% above budget. Building use tax revenue for June 2011 ended up 394% from June 2010 and is presently 53% above 2010 revenues YTD. Building use tax revenues are currently 30% above budget. SUBJECT AGENDA ITEM June 2011 Sales Tax Report ïï