Finance Committee Agenda and Packet 2017 06 12

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112 Cityot Om Louisville COLORADO - SINCE 1878 FINANCE COMMITTEE COMMUNICATION SUBJECT: SALES TAX REPORTS FOR THE MONTH ENDED APRIL 30, 2017 DATE: JUNE 12, 2017 PRESENTED BY: PENNEY BOLTE, FINANCE DEPARTMENT 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 April 30, 2017. Also included are the monthly reports on sales tax revenue by area and by industry. Total revenue through April 2017 for the taxes contained on the Revenue History report have increased 9.9% YTD as compared to the period through April 2016. The month of April 2017 ended with sales tax revenue up 8.4% from April 2016. YTD sales tax revenue for 2017 is presently 8.4% above 2016, and 4.3% above budget. Sales tax revenue for the top 50 vendors increased 0.5% for the month of April 2017 and YTD revenue is 3.8% above 2016. YTD Gains through April 2017 include the sectors: Home Improvement (13.1%), Grocery (4.5%), Telecommunications/Utilities (5.1%), and Restaurants (0.5%). Declining sectors through April 2017 include: Hotels (- 1.9%), and General Merchandise (-4.7%). Lodging tax revenue for April 2017 decreased 2% from April 2016. YTD revenue is 2.3% below 2016 and 8.8% below budget. Auto use tax revenue for April 2017 decreased 15.3% from April 2016. YTD revenue is up 10% to 2016 and 2% above budget. Building use tax revenue for April 2017 increased 52.5% from April 2016. YTD revenue is up 63.7% from 2016 and 50.8% above budget. Consumer use tax revenue for April 2017 increased 15.3% from April 2016. YTD revenue is presently 9.8% below 2016 and 44.6% above current budget. The Monthly Revenue by Area report reflects several variances for the month: • The first, is one-time technology sector sales tax revenue of $31 K in the Outside City reporting area. This represents the majority of the increase for this area. FINANCE COMMITTEE COMMUNICATION 13