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112 Cityot <br />Om Louisville <br />COLORADO - SINCE 1878 <br />FINANCE COMMITTEE <br />COMMUNICATION <br />SUBJECT: <br />SALES TAX REPORTS FOR THE MONTH ENDED OCTOBER <br />31, 2016 <br />DATE: DECEMBER 19, 2016 <br />PRESENTED BY: PENNEY BOLTE, FINANCE DEPARTMENT <br />SUMMARY: <br />Attached are the monthly revenue reports for sales tax, lodging tax, auto use tax, <br />consumer use tax, and building use tax for the month ending October 31, 2016. Also <br />included are the monthly reports on sales tax revenue by area and by industry. <br />Total revenue for the taxes contained on the Revenue History report has increased <br />9.6% YTD as compared to 2015. <br />The month of October 2016 ended with sales tax revenue up 5.2%, from October 2015. <br />YTD sales tax revenue for 2016 is presently 6% above 2015 and 1.7% above current <br />projections. <br />Sales tax revenue for the top 50 vendors increased 0.3% for the month of October 2016 <br />and is currently 2.9% above 2015 YTD. Gaining sectors through October 2016 include: <br />Grocery (8.2%), Home Improvement (6.4%), and Hotels (6.9%). Declining sectors <br />through October 2016 include: General Merchandise (-2.8%), Restaurants (-2%), and <br />Telecommunications/Utilities (-5.2%). <br />The increase in sales tax revenue for the Outside City area for the month can be <br />attributed to construction, building material, and technology purchases. <br />Lodging tax revenue for October 2016 increased 1.5% from October 2015. YTD <br />revenue is 6.2% above 2015 and 1.3% above current projections. <br />Auto use tax revenue for October 2016 increased 1% from October 2015. YTD revenue <br />is up 2% as compared to 2015 but 5% below current projections. <br />Building use tax revenue for October 2016 increased 103.9% from October 2015. YTD <br />revenue is up 29.9% from 2015 and even with current projections. <br />Consumer use tax revenue for October 2016 increased 76% from October 2015 and is <br />24.9% above 2015 YTD. Consumer use tax revenue is presently 35.5% above the <br />current projections. The spike in use tax revenue for October is primarily from large <br />purchases of machinery and equipment and initial use tax payments remitted by new <br />businesses. <br />FINANCE COMMITTEE COMMUNICATION <br />16 <br />