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112 Cityot <br />Om Louisville <br />COLORADO - SINCE 1878 <br />FINANCE COMMITTEE <br />COMMUNICATION <br />SUBJECT: SALES TAX REPORTS FOR THE MONTH ENDED JANUARY 31, <br />2017 <br />DATE: MARCH 20, 2017 <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 January 31, 2017. Also <br />included are the monthly reports on sales tax revenue by area and by industry. <br />Total revenue for January 2017, for the taxes contained on the Revenue History report <br />increased 16.2% YTD as compared to January 2016. <br />The month of January 2017 ended with sales tax revenue up 18.5% from January 2016. <br />YTD sales tax revenue for 2017 is presently 18.5% above 2016, and 8.3% above <br />budget. <br />Sales tax revenue for the top 50 vendors increased 16.7% for the month of January <br />2017. Gains for January 2017 include the sectors: Home Improvement (29.1%), <br />Grocery (3.7%), Telecommunications/Utilities (93.7%), and Hotels (5.2%). Declining <br />sectors for January 2017 include: Restaurants (-3%), and General Merchandise (- <br />4.5%). <br />Lodging tax revenue for January 2017 increased 5.1% from January 2016. YTD <br />revenue is 5.1% above 2016 but 10.3% below budget. <br />Auto use tax revenue for January 2017 increased 43.8% from January 2016. YTD <br />revenue is up 43.8% to 2016 and 23.5% above budget. <br />Building use tax revenue for January 2017 increased 57.8% from January 2016. YTD <br />revenue is up 57.8% from 2016, and 124.6% above budget. <br />Consumer use tax revenue for January 2017 decreased 38.1% from January 2016. <br />Consumer use tax revenue is presently 32.6% above current budget. <br />One-time sales occurred in January which increased revenue significantly for the <br />sectors Telecom/Utilities and Services. These sector increases are seen in the related <br />areas of Outside City and Centennial Valley. Interchange revenue is impacted by the <br />increase for Home Improvement and new retail in the area. Decline in sales tax for <br />McCaslin North is due primarily to late payments. There is also a "false" decline in the <br />FINANCE COMMITTEE COMMUNICATION <br />118 <br />