Finance Committee Agenda and Packet 2011 11 14

Home Browse Search

COUNCIL COMMUNICATION TO: MAYOR AND CITY COUNCIL FROM: MALCOLM FLEMING CITY MANAGER DATE: NOVEMBER 14, 2011 SUBJECT: SALES TAX REPORTS FOR THE MONTH ENDED SEPTEMBER 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 September 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 9.1% YTD over 2010 which includes the new consumer use tax. Total revenue is up 6.3% YTD excluding the consumer use tax. The month of September 2011 was strong with sales tax revenue up 5.2% over that of September 2010. YTD revenue is 1.9% above 2010 YTD and 2.6% above budget YTD. Sales tax revenue for the top 50 vendors increased 0.3% for the month of September 2011, and is presently up 0.2% YTD. YTD gains remain in the following sectors; Grocery (3 %), Hotels (9.2 %), and Restaurants (3.6 %). The declining sectors include; General Merchandise (- 1.1 %), Home Improvement (- 0.8 %), Technology (- 10.5 %) and Telecom /Utilities (- 5.7 %). Lodging tax revenue increased 5% over September 2010 with YTD revenues 10.4% above 2010 revenue and 21% above budget YTD. Auto use tax revenue for September 2011 decreased 2.6% from September 2010 but remains 10.5% above 2010 revenue YTD and 4.6% above budget YTD. Building use tax revenue for September 2011 ended up 770% from September 2010 and is presently 107% above 2010 revenues YTD and 22.5% above budget YTD. Consumer use tax for September 2011 was $43,390. .. ■ SUBJECT September 2011 Sales Tax Report AGENDA ITEM 10