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Finance Committee Agenda and Packet 2009 04 20
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Finance Committee Agenda and Packet 2009 04 20
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3/10/2021 2:34:10 PM
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4/17/2009 10:40:17 AM
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FCPKT 2009 04 20
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<br />COUNCIL COMMUNICATION <br /> <br />TO: MAYOR AND CITY COUNCIL <br /> <br />FROM: MALCOLM FLEMING <br />CITY MANAGER <br /> <br />DATE: APRIL 20, 2009 <br /> <br />SUBJECT: SALES TAX REPORT FOR THE MONTH ENDED FEBRUARY 28,2009 <br /> <br />ORIGINATING <br />DEPARTMENT: CITY MANAGER'S OFFICE <br /> <br />SUMMARY: <br /> <br />Attached are the revenue reports for sales tax, lodging tax, auto use tax and building <br />use tax for the month ending February 28, 2009. <br /> <br />City sales tax revenue for February 2009 ended down 9% from February 2008 and is <br />2.2% below 2008 YTD. Sales tax revenues are down 6.8% YTD to the revised budget <br />including Historic Preservation Tax for 2009. <br /> <br />Note: The portion of the sales tax revenue comprising .125% for historical preservation <br />has been deducted from the sales tax revenue stated on the Revenue History Summary <br />report. All other reports include the actual revenue received. <br /> <br />The top 50 vendors ended down 10.9% from February 2008 with the largest declines in <br />Hotels (-29.3%) and TelecomlUtilities (-28.4%). Home Improvement Stores fell 9.3% for <br />the month and General Merchandise fell 6.97%. Gains were seen in February for <br />Restaurants and Grocery at 4.6% and 4.9% respectively. <br /> <br />Lodging tax revenue fell 19.5% as compared to February 2008 and is 25% below budget <br />YTD. <br /> <br />Auto use tax for February 2009 was down 14.5% from February 2008 and is <br />approximately 6% below budget YTD. <br /> <br />Building use tax for February was down 93.5% to February 2008 but is 26.5% above 2008 <br />YTD and 18% below 2009 budget estimates. <br /> <br />FISCAL IMPACT: None <br /> <br />RECOMMENDATION: None <br /> <br />IE <br /> <br />SUBJECT <br /> <br />FEBRUARY 2009 SALES TAX REPORT <br /> <br />AGENDA ITEM <br /> <br />10 <br />
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