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LL �t�'.t'f FINANCE COMMITTEE <br />Loll sville COMMUNICATION <br />COLORADO • SINCE 1878 <br />SUBJECT: SALES TAX REPORTS FOR THE MONTH AND QUARTER <br />ENDED JUNE 30, 2020 <br />DATE: AUGUST 18, 2020 <br />PRESENTED BY: PENNEY BOLTE, FINANCE DEPARTMENT <br />SUMMARY: <br />Attached are the monthly and quarterly revenue reports for sales tax, lodging tax, auto <br />use tax, consumer use tax, and building use tax for the month ending June 30, 2020. <br />Included are the monthly and year-to-date sales tax revenue reports by area, by industry <br />(in total, and for inside and outside City), and the revenue by area graphs for restaurants. <br />Total revenue through June 2020 for the specific taxes contained on the Revenue History <br />report has decreased 5.7% YTD from the same period in 2019. <br />Excluding audit revenue, sales tax is trending 1 % above 2019 YTD, and consumer use <br />tax is trending 19.5% below 2019 YTD. <br />Please note, the budget comparisons provided are to the amended 2020 budget. <br />Sales tax revenue for the month of June 2020 increased 3% from June 2019. YTD sales <br />tax revenue is 0.9% above 2019 and 7.3% above budget. <br />Lodging tax revenue for June 2020 decreased 75.1 % from June 2019, and YTD revenue <br />is down 58.8% as compared to 2019. Lodging tax revenue is currently 1.3% below <br />budget. <br />Auto use tax revenue for June 2020 increased 39.3% from June 2019. YTD revenue is <br />down 28% to 2019 but 26.9% above budget. <br />Building use tax revenue for June 2020 decreased 80.8% from June 2019. YTD revenue <br />is 10.6% below 2019 revenue YTD, and 11.1 % above budget. <br />Consumer use tax revenue for June 2020 increased 19.4% from June 2019 and YTD <br />revenue is currently 20.2% below 2019. Consumer use tax is currently 67.1 % above <br />budget. <br />FINANCE COMMITTEE COMMUNICATION <br />22 <br />